https://www.taxtmi.com/caselaws?id=470683 Interest earned by a co-operative society on deposits with a co-operative bank qualifies for deduction under section 80P(2)(d). The provision allows deduction for interest or dividend income from investments with another co-operative society, and a co-operative bank remains a co-operative society under the statutory definition. Section 80P(4) restricts a co-operative bank's own claim to deduction; it does not prevent a depositor co-operative society from claiming deduction on interest received from that bank. Where judicial interpretations diverge, the interpretation favourable to the assessee applies. en-us Tue, 25 Mar 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470683 Interest earned by a co-operative society on deposits with a co-operative bank qualifies for deduction under section 80P(2)(d). The provision allows deduction for interest or dividend income from investments with another co-operative society, and a co-operative bank remains a co-operative society under the statutory definition. Section 80P(4) restricts a co-operative bank's own claim to deduction; it does not prevent a depositor co-operative society from claiming deduction on interest received from that bank. Where judicial interpretations diverge, the interpretation favourable to the assessee applies. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470683