https://www.taxtmi.com/caselaws?id=472411 Section 80P(2)(d) allows a co-operative society to deduct interest derived from investments with another co-operative society. A co-operative bank continues to fall within the definition of a co-operative society under Section 2(19), even though Section 80P(4) excludes the bank itself from claiming a deduction under Section 80P. Where conflicting non-jurisdictional High Court decisions exist, the interpretation favourable to the assessee applies. Interest income from bank investments was therefore treated as eligible for deduction under Section 80P(2)(a)(i) or Section 80P(2)(d). en-us Tue, 19 Mar 2024 00:00:00 +0530 Mon, 12 Oct 2026 10:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472411 Section 80P(2)(d) allows a co-operative society to deduct interest derived from investments with another co-operative society. A co-operative bank continues to fall within the definition of a co-operative society under Section 2(19), even though Section 80P(4) excludes the bank itself from claiming a deduction under Section 80P. Where conflicting non-jurisdictional High Court decisions exist, the interpretation favourable to the assessee applies. Interest income from bank investments was therefore treated as eligible for deduction under Section 80P(2)(a)(i) or Section 80P(2)(d). Case-Laws Income Tax Tue, 19 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472411