https://www.taxtmi.com/caselaws?id=470235 Interest income earned by a co-operative credit society on deposits with co-operative banks, scheduled banks and financial institutions is described as eligible for deduction under section 80P. The note states that, absent a jurisdictional High Court ruling, the Tribunal followed the view favouring deduction. It further explains that section 80P(4), which excludes co-operative banks from the deduction, does not affect an independent co-operative society's eligibility for deduction on interest from investments or deposits with a co-operative bank registered as a co-operative society. en-us Mon, 27 Feb 2023 00:00:00 +0530 Tue, 21 Jul 2026 10:19:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470235 Interest income earned by a co-operative credit society on deposits with co-operative banks, scheduled banks and financial institutions is described as eligible for deduction under section 80P. The note states that, absent a jurisdictional High Court ruling, the Tribunal followed the view favouring deduction. It further explains that section 80P(4), which excludes co-operative banks from the deduction, does not affect an independent co-operative society's eligibility for deduction on interest from investments or deposits with a co-operative bank registered as a co-operative society. Case-Laws Income Tax Mon, 27 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470235