https://www.taxtmi.com/caselaws?id=471761 Interest or dividend income earned by a co-operative society from investments with another co-operative society is deductible under section 80P(2)(d). A co-operative bank falls within the definition of a co-operative society, while section 80P(4) only prevents the co-operative bank itself from claiming section 80P deduction; it does not bar another co-operative society from deducting interest received from deposits with that bank. Where competing interpretations exist, the interpretation favourable to the assessee applies. Accordingly, fixed-deposit interest earned by a co-operative housing society from a co-operative bank qualifies for deduction, subject to verification. en-us Thu, 27 Nov 2025 00:00:00 +0530 Wed, 16 Sep 2026 19:00:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471761 Interest or dividend income earned by a co-operative society from investments with another co-operative society is deductible under section 80P(2)(d). A co-operative bank falls within the definition of a co-operative society, while section 80P(4) only prevents the co-operative bank itself from claiming section 80P deduction; it does not bar another co-operative society from deducting interest received from deposits with that bank. Where competing interpretations exist, the interpretation favourable to the assessee applies. Accordingly, fixed-deposit interest earned by a co-operative housing society from a co-operative bank qualifies for deduction, subject to verification. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471761