https://www.taxtmi.com/caselaws?id=469679 Interest income earned by a co-operative housing society from deposits with co-operative banks was held to qualify for deduction under section 80P(2)(d) because a co-operative bank is treated as a co-operative society for that provision. Section 80P(4) was read as restricting only co-operative banks from claiming the deduction for themselves, not as denying deduction to recipients of interest from such banks. With divergent views, the construction favourable to the assessee was preferred, so the disallowance was unsustainable. en-us Wed, 02 Apr 2025 00:00:00 +0530 Sat, 27 Jun 2026 22:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469679 Interest income earned by a co-operative housing society from deposits with co-operative banks was held to qualify for deduction under section 80P(2)(d) because a co-operative bank is treated as a co-operative society for that provision. Section 80P(4) was read as restricting only co-operative banks from claiming the deduction for themselves, not as denying deduction to recipients of interest from such banks. With divergent views, the construction favourable to the assessee was preferred, so the disallowance was unsustainable. Case-Laws Income Tax Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469679