https://www.taxtmi.com/caselaws?id=468870 A co-operative society's interest income from deposits or investments with a co-operative bank qualifies for deduction under section 80P(2)(d) of the Income-tax Act. The Tribunal followed co-ordinate bench authority treating a co-operative bank as a co-operative society for this purpose, and held that section 80P(4) withdraws the deduction only from co-operative banks themselves, not from a co-operative society earning interest from such investments. Where non-jurisdictional High Court views conflicted, the Tribunal applied the interpretation favourable to the assessee and allowed the deduction. en-us Tue, 11 Feb 2025 00:00:00 +0530 Fri, 22 May 2026 15:10:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468870 A co-operative society's interest income from deposits or investments with a co-operative bank qualifies for deduction under section 80P(2)(d) of the Income-tax Act. The Tribunal followed co-ordinate bench authority treating a co-operative bank as a co-operative society for this purpose, and held that section 80P(4) withdraws the deduction only from co-operative banks themselves, not from a co-operative society earning interest from such investments. Where non-jurisdictional High Court views conflicted, the Tribunal applied the interpretation favourable to the assessee and allowed the deduction. Case-Laws Income Tax Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468870