2026 (4) TMI 272

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.... For the Appellant: (By Sri S.V. Ravishankar, Advocate for Smt. Lochana S. Babu, Advocate). For the Respondent: (By Sri Y.V. Raviraj, Senior Standing Counsel). ORAL JUDGMENT (PER: HON'BLE MR. JUSTICE K. V. ARAVIND) Heard Sri S.V. Ravishankar, learned counsel appearing for Smt. Lochana S. Babu, learned counsel for the appellant- Assessee and Sri Y.V. Raviraj, learned Senior Stand....

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....tion 80P(2)(d) of the Act?" 4. Insofar as the second question of law is concerned, Sri Y.V. Raviraj, learned Senior Standing Counsel for the Revenue, submits that the same is no longer res integra in view of the decision in ITA No. 93/2024, decided on 16.09.2025 [M/s. Judicial Employees House Building Cooperative Society Limited vs. Income Tax Officer]. 5. Learned counsel for the appellant-A....

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....estment in Co-operative Bank cannot be considered for deduction under Section 80P(2)(d) of the Act. In the light of the judgment in second TOTAGARS CO-OPERATIVE SALE SOCIETY (supra), dated 16.06.2017 followed by the Tribunal, we are of the view that in view of the banking license of the Mysore and Chamarajanagar District Co-operative Central Bank Ltd., the same is a Co-operative Bank. Once the inv....