https://www.taxtmi.com/caselaws?id=466983 Application of the Income-tax Act deduction for cooperative societies focuses on whether interest on fixed deposits qualifies under Section 80P(2)(d); the analysis applies statutory text and binding precedent, notably the Supreme Court decision in Mavilayi Service Cooperative Bank Ltd., to conclude that such interest income falls within the permitted deduction. The operative effect is that the assessing officer's addition is deleted and the deduction is allowable to the cooperative housing society, with precedent governing the tax treatment of similar interest receipts. en-us Mon, 24 Feb 2025 00:00:00 +0530 Sun, 01 Mar 2026 09:29:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466983 Application of the Income-tax Act deduction for cooperative societies focuses on whether interest on fixed deposits qualifies under Section 80P(2)(d); the analysis applies statutory text and binding precedent, notably the Supreme Court decision in Mavilayi Service Cooperative Bank Ltd., to conclude that such interest income falls within the permitted deduction. The operative effect is that the assessing officer's addition is deleted and the deduction is allowable to the cooperative housing society, with precedent governing the tax treatment of similar interest receipts. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466983