https://www.taxtmi.com/caselaws?id=467558 Interest earned by a co-operative society from deposits placed with co-operative banks was held eligible for deduction under section 80P(2)(d), because the provision covers income by way of interest or dividends derived from investments with another co-operative society. The Tribunal held that section 80P(4) limits the deduction claim of a co-operative bank itself and does not bar the recipient society's claim under section 80P(2)(d). Revenue's reliance on Totgars was found misplaced on the facts, and earlier co-ordinate bench decisions supporting the assessee were followed. The deduction allowed by the CIT(A) was therefore upheld. en-us Tue, 18 Feb 2025 00:00:00 +0530 Tue, 24 Mar 2026 14:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467558 Interest earned by a co-operative society from deposits placed with co-operative banks was held eligible for deduction under section 80P(2)(d), because the provision covers income by way of interest or dividends derived from investments with another co-operative society. The Tribunal held that section 80P(4) limits the deduction claim of a co-operative bank itself and does not bar the recipient society's claim under section 80P(2)(d). Revenue's reliance on Totgars was found misplaced on the facts, and earlier co-ordinate bench decisions supporting the assessee were followed. The deduction allowed by the CIT(A) was therefore upheld. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467558