https://www.taxtmi.com/caselaws?id=785871 Section 80P(2)(d) permits a cooperative society to deduct interest or dividend income derived from investments with another cooperative society, subject to verification that the recipient entities qualify as cooperative societies under the Income-tax Act. Interest from investments with cooperative banks or societies may therefore qualify, but the factual bifurcation of eligible and other interest income must be examined. Where the taxpayer has supplied documentary particulars, disallowance should not rest on an assumed bifurcation without proper verification. The assessing process must verify the source and character of interest income and allow the deduction in accordance with law after providing a reasonable opportunity to the taxpayer. en-us Tue, 27 Jan 2026 00:00:00 +0530 Mon, 02 Feb 2026 08:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785871 Section 80P(2)(d) permits a cooperative society to deduct interest or dividend income derived from investments with another cooperative society, subject to verification that the recipient entities qualify as cooperative societies under the Income-tax Act. Interest from investments with cooperative banks or societies may therefore qualify, but the factual bifurcation of eligible and other interest income must be examined. Where the taxpayer has supplied documentary particulars, disallowance should not rest on an assumed bifurcation without proper verification. The assessing process must verify the source and character of interest income and allow the deduction in accordance with law after providing a reasonable opportunity to the taxpayer. Case-Laws Income Tax Tue, 27 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785871