https://www.taxtmi.com/caselaws?id=786014 Interest income earned on deposits with cooperative banks was held eligible for deduction under the law for a registered cooperative housing society, following prior ITAT Mumbai precedent. The tribunal applied that precedent to direct the assessing officer to allow a deduction for interest from such deposits, resulting in allowance of the appeals. The reasoning rests on treating interest from cooperative bank deposits as qualifying income for deduction available to cooperative societies, and the AO is directed to grant relief accordingly. en-us Mon, 02 Feb 2026 00:00:00 +0530 Wed, 04 Feb 2026 08:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786014 Interest income earned on deposits with cooperative banks was held eligible for deduction under the law for a registered cooperative housing society, following prior ITAT Mumbai precedent. The tribunal applied that precedent to direct the assessing officer to allow a deduction for interest from such deposits, resulting in allowance of the appeals. The reasoning rests on treating interest from cooperative bank deposits as qualifying income for deduction available to cooperative societies, and the AO is directed to grant relief accordingly. Case-Laws Income Tax Mon, 02 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786014