https://www.taxtmi.com/caselaws?id=467557 Interest earned by a co-operative housing society from deposits placed with co-operative banks qualifies for deduction under section 80P(2)(d) of the Income-tax Act, 1961, because a co-operative bank is treated as a co-operative society for that purpose. The Tribunal followed its coordinate bench view and read the statutory language, together with the definition of co-operative society in section 2(19), as covering interest derived from investments with another co-operative society. The disallowances made by the lower authorities were therefore held unjustified, and the deduction was allowed in favour of the assessee. 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=467557 Interest earned by a co-operative housing society from deposits placed with co-operative banks qualifies for deduction under section 80P(2)(d) of the Income-tax Act, 1961, because a co-operative bank is treated as a co-operative society for that purpose. The Tribunal followed its coordinate bench view and read the statutory language, together with the definition of co-operative society in section 2(19), as covering interest derived from investments with another co-operative society. The disallowances made by the lower authorities were therefore held unjustified, and the deduction was allowed in favour of the assessee. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467557