https://www.taxtmi.com/caselaws?id=471179 Interest earned by a co-operative society on savings-account deposits with co-operative banks qualifies for deduction under section 80P(2)(d), where those banks are co-operative societies. The expression "investments" is not confined to fixed deposits and includes interest-bearing savings deposits that are maintained to earn interest and are subject to withdrawal conditions. Consistent treatment of the identical issue in an earlier assessment year supports allowing the deduction absent any material basis for departure. The resulting effect is deletion of the disallowance of such interest income. en-us Mon, 30 Sep 2024 00:00:00 +0530 Mon, 24 Aug 2026 18:50:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471179 Interest earned by a co-operative society on savings-account deposits with co-operative banks qualifies for deduction under section 80P(2)(d), where those banks are co-operative societies. The expression "investments" is not confined to fixed deposits and includes interest-bearing savings deposits that are maintained to earn interest and are subject to withdrawal conditions. Consistent treatment of the identical issue in an earlier assessment year supports allowing the deduction absent any material basis for departure. The resulting effect is deletion of the disallowance of such interest income. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471179