https://www.taxtmi.com/caselaws?id=796260 Interest earned by a co-operative credit society from investments or deposits with a co-operative bank qualifies for deduction under Section 80P(2)(d). Section 80P(4) excludes co-operative banks from claiming deduction under Section 80P but does not prevent another co-operative society from claiming deduction on interest received from investments with a co-operative bank that remains a co-operative society. Where non-jurisdictional High Court decisions conflict, the interpretation favourable to the assessee applies. The stated position supports deduction of such interest income and deletion of the related disallowance. en-us Wed, 22 Jul 2026 00:00:00 +0530 Mon, 03 Aug 2026 08:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796260 Interest earned by a co-operative credit society from investments or deposits with a co-operative bank qualifies for deduction under Section 80P(2)(d). Section 80P(4) excludes co-operative banks from claiming deduction under Section 80P but does not prevent another co-operative society from claiming deduction on interest received from investments with a co-operative bank that remains a co-operative society. Where non-jurisdictional High Court decisions conflict, the interpretation favourable to the assessee applies. The stated position supports deduction of such interest income and deletion of the related disallowance. Case-Laws Income Tax Wed, 22 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796260