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ITAT Confirms Tax Relief for Co-operative Society on Bank Interest
Case Law Details
- Case Name
- Bella Vista Co-operative Housing Society Limited Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Mumbai
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Bella Vista Co-operative Housing Society Limited Vs ITO (ITAT Mumbai)
80P(2)(d) Deduction Allowed on Interest from Co-operative Bank: ITAT Mumbai Grants Relief to Housing Society
Mumbai ITAT allowed the appeal of the Assessee-society and directed deletion of the addition of ₹73,210 made by denying deduction u/s 80P(2)(d).
The Assessee, a co-operative housing society, had earned interest income on deposits placed with Thane Bharat Sahakari Bank Ltd., a co-operative bank registered under the Maharashtra Co-operative Societies Act, 1960, and claimed deduction u/s 80P(2)(d). The...
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