https://www.taxtmi.com/caselaws?id=472427 Interest or dividend derived by a co-operative society from investments with another co-operative society qualifies for deduction under Section 80P(2)(d), provided both recipient and payer are co-operative societies within the statutory definition. Section 80P(4) excludes only an assessee that itself is a co-operative bank under Part V of the Banking Regulation Act; it does not disqualify a non-bank co-operative society merely because the payer is classified as a co-operative bank. Accordingly, a co-operative credit society that is not a co-operative bank may claim deduction on interest received from deposits with a registered co-operative society. en-us Wed, 12 Feb 2025 00:00:00 +0530 Tue, 13 Oct 2026 04:47:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472427 Interest or dividend derived by a co-operative society from investments with another co-operative society qualifies for deduction under Section 80P(2)(d), provided both recipient and payer are co-operative societies within the statutory definition. Section 80P(4) excludes only an assessee that itself is a co-operative bank under Part V of the Banking Regulation Act; it does not disqualify a non-bank co-operative society merely because the payer is classified as a co-operative bank. Accordingly, a co-operative credit society that is not a co-operative bank may claim deduction on interest received from deposits with a registered co-operative society. Case-Laws Income Tax Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472427