https://www.taxtmi.com/caselaws?id=792210 Interest earned by a co-operative housing society from deposits or investments with co-operative banks was treated as deductible under section 80P(2)(d), because the term "co-operative society" in section 2(19) is of wide import and a co-operative bank is not excluded from that character merely by section 80P(4). That provision only limits the bank's own eligibility for deduction and does not prevent a co-operative society from claiming deduction on interest derived from such investments. The contrary reliance on provisions dealing with surplus-fund income under section 80P(2)(a)(i) was held inapposite, and prior acceptance of the same claim in the assessee's own case supported the position. en-us Wed, 20 May 2026 00:00:00 +0530 Mon, 25 May 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792210 Interest earned by a co-operative housing society from deposits or investments with co-operative banks was treated as deductible under section 80P(2)(d), because the term "co-operative society" in section 2(19) is of wide import and a co-operative bank is not excluded from that character merely by section 80P(4). That provision only limits the bank's own eligibility for deduction and does not prevent a co-operative society from claiming deduction on interest derived from such investments. The contrary reliance on provisions dealing with surplus-fund income under section 80P(2)(a)(i) was held inapposite, and prior acceptance of the same claim in the assessee's own case supported the position. Case-Laws Income Tax Wed, 20 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792210