https://www.taxtmi.com/caselaws?id=467333 Interest earned by a co-operative society from deposits with co-operative banks is deductible under section 80P(2)(d), because a co-operative bank is treated as a co-operative society for this purpose and section 80P(4) does not bar the claim unless the assessee itself is a co-operative bank. The disallowance of such interest was therefore unsustainable. A separate credit claim of Rs. 2,12,775 under section 80P required verification of supporting details and eligibility, so that matter was remitted for fresh examination after giving the assessee a reasonable opportunity of hearing. en-us Fri, 21 Feb 2025 00:00:00 +0530 Sat, 14 Mar 2026 13:13:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467333 Interest earned by a co-operative society from deposits with co-operative banks is deductible under section 80P(2)(d), because a co-operative bank is treated as a co-operative society for this purpose and section 80P(4) does not bar the claim unless the assessee itself is a co-operative bank. The disallowance of such interest was therefore unsustainable. A separate credit claim of Rs. 2,12,775 under section 80P required verification of supporting details and eligibility, so that matter was remitted for fresh examination after giving the assessee a reasonable opportunity of hearing. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467333