https://www.taxtmi.com/caselaws?id=469669 Interest earned by a co-operative society on fixed deposits placed with co-operative banks was treated as eligible for deduction under section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal followed coordinate Bench rulings holding that a co-operative bank remains a co-operative society for this purpose, so interest derived by one co-operative society from investments with another co-operative society in the form of a co-operative bank falls within the deduction provision. On that basis, the assessee's interest income was covered by section 80P(2)(d), and the Revenue's objection failed. en-us Wed, 26 Jun 2024 00:00:00 +0530 Sat, 27 Jun 2026 10:45:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469669 Interest earned by a co-operative society on fixed deposits placed with co-operative banks was treated as eligible for deduction under section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal followed coordinate Bench rulings holding that a co-operative bank remains a co-operative society for this purpose, so interest derived by one co-operative society from investments with another co-operative society in the form of a co-operative bank falls within the deduction provision. On that basis, the assessee's interest income was covered by section 80P(2)(d), and the Revenue's objection failed. Case-Laws Income Tax Wed, 26 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469669