https://www.taxtmi.com/caselaws?id=472459 Interest earned by a co-operative credit society on term deposits with a State co-operative bank falls within the deduction for income from investments with another co-operative society where both entities qualify as co-operative societies under the Income-tax Act. The exclusion for co-operative banks applies where the claimant itself is a co-operative bank under the Banking Regulation Act; it does not deny the deduction merely because the payer is a co-operative bank. Qualifying interest on such deposits is therefore deductible under Section 80P(2)(d). en-us Thu, 07 Aug 2025 00:00:00 +0530 Tue, 13 Oct 2026 13:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472459 Interest earned by a co-operative credit society on term deposits with a State co-operative bank falls within the deduction for income from investments with another co-operative society where both entities qualify as co-operative societies under the Income-tax Act. The exclusion for co-operative banks applies where the claimant itself is a co-operative bank under the Banking Regulation Act; it does not deny the deduction merely because the payer is a co-operative bank. Qualifying interest on such deposits is therefore deductible under Section 80P(2)(d). Case-Laws Income Tax Thu, 07 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472459