https://www.taxtmi.com/caselaws?id=473214 Section 80P(2)(d) permits a cooperative society to deduct interest or dividends derived from investments with another cooperative society. Interest earned by a cooperative housing society on deposits with a cooperative bank qualifies where the bank is registered as a cooperative society. The restriction under section 80P(4) on certain cooperative banks claiming a deduction for their own income is distinct from the investing society's entitlement. The beneficial provision is to be construed liberally, without adding restrictions not stated in it. en-us Tue, 29 Apr 2025 00:00:00 +0530 Mon, 09 Nov 2026 15:40:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473214 Section 80P(2)(d) permits a cooperative society to deduct interest or dividends derived from investments with another cooperative society. Interest earned by a cooperative housing society on deposits with a cooperative bank qualifies where the bank is registered as a cooperative society. The restriction under section 80P(4) on certain cooperative banks claiming a deduction for their own income is distinct from the investing society's entitlement. The beneficial provision is to be construed liberally, without adding restrictions not stated in it. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473214