https://www.taxtmi.com/caselaws?id=467008 Deduction under Section 80P(2)(d) is available for "any income by way of interest" received by a registered co operative society where the payer co operative bank does not fall within the exclusion for RBI licensed banks that accept public deposits; this covers interest regardless of whether it is characterised as business income or income from other sources. The exclusion in Section 80P(4) applies only to co operative banks licensed by the Reserve Bank to carry on banking with the public. On that basis the disallowance of the interest deduction was found unsustainable and the appeal allowed. en-us Tue, 24 Sep 2024 00:00:00 +0530 Sun, 01 Mar 2026 10:28:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467008 Deduction under Section 80P(2)(d) is available for "any income by way of interest" received by a registered co operative society where the payer co operative bank does not fall within the exclusion for RBI licensed banks that accept public deposits; this covers interest regardless of whether it is characterised as business income or income from other sources. The exclusion in Section 80P(4) applies only to co operative banks licensed by the Reserve Bank to carry on banking with the public. On that basis the disallowance of the interest deduction was found unsustainable and the appeal allowed. Case-Laws Income Tax Tue, 24 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467008