https://www.taxtmi.com/caselaws?id=793279 Interest derived from deposits with cooperative banks was held deductible under Section 80P(2)(d) because a cooperative bank was treated as a cooperative society for that purpose, and the claim was allowed on a net basis. Interest from scheduled banks was not eligible for deduction, but the Tribunal required the disallowance to be confined to the net interest income where the claim had been made on that basis. The matter on scheduled bank interest was remitted to the Assessing Officer for limited verification and fresh decision, while the cooperative bank interest claim was accepted. en-us Wed, 20 May 2026 00:00:00 +0530 Fri, 12 Jun 2026 08:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793279 Interest derived from deposits with cooperative banks was held deductible under Section 80P(2)(d) because a cooperative bank was treated as a cooperative society for that purpose, and the claim was allowed on a net basis. Interest from scheduled banks was not eligible for deduction, but the Tribunal required the disallowance to be confined to the net interest income where the claim had been made on that basis. The matter on scheduled bank interest was remitted to the Assessing Officer for limited verification and fresh decision, while the cooperative bank interest claim was accepted. Case-Laws Income Tax Wed, 20 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793279