https://www.taxtmi.com/caselaws?id=785871 The note addresses entitlement of a cooperative society to deduction for income by way of interest or dividend earned from investments with other cooperative societies, including cooperative banks, under the statutory deduction provision. It reasons from the statutory definition of cooperative society to treat deposits with cooperative banks as qualifying investments, citing supporting High Court authority. Because the assessing officer did not accept the assessee's bifurcation of interest from cooperative banks, the matter was remitted to the AO for verification of interest income from cooperative banks, and the appeal was allowed for statistical purposes. 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 The note addresses entitlement of a cooperative society to deduction for income by way of interest or dividend earned from investments with other cooperative societies, including cooperative banks, under the statutory deduction provision. It reasons from the statutory definition of cooperative society to treat deposits with cooperative banks as qualifying investments, citing supporting High Court authority. Because the assessing officer did not accept the assessee's bifurcation of interest from cooperative banks, the matter was remitted to the AO for verification of interest income from cooperative banks, and the appeal was allowed for statistical purposes. Case-Laws Income Tax Tue, 27 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785871