https://www.taxtmi.com/caselaws?id=794731 Interest earned by a co-operative housing society from deposits with a co-operative bank was treated as deductible under section 80P(2)(d), because section 80P(4) was read as denying relief only to co-operative banks on their own income, not to a society receiving interest from them. The claim was also held too debatable for prima facie disallowance under section 143(1) or rectification under section 154, since those provisions apply only to apparent mistakes and not to issues requiring interpretation or conflicting precedent. The disallowance was therefore deleted with consequential relief. en-us Tue, 07 Jul 2026 00:00:00 +0530 Fri, 10 Jul 2026 07:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794731 Interest earned by a co-operative housing society from deposits with a co-operative bank was treated as deductible under section 80P(2)(d), because section 80P(4) was read as denying relief only to co-operative banks on their own income, not to a society receiving interest from them. The claim was also held too debatable for prima facie disallowance under section 143(1) or rectification under section 154, since those provisions apply only to apparent mistakes and not to issues requiring interpretation or conflicting precedent. The disallowance was therefore deleted with consequential relief. Case-Laws Income Tax Tue, 07 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794731