Interest from Private Banks Eligible for 80P Deduction: ITAT Pune Clarifies

Chhatrapati Nagri Sahkari Patsanstha M Vs ITO (ITAT Pune) Interest from Private Banks Also Eligible for 80P Deduction; Totgars Distinguished – ITAT Pune The Pune SMC Bench of the ITAT, in Chhatrapati Nagri Sahkari Patsanstha Maryadit vs. ITO, Ward-1, Jalna (ITA No.1919/PUN/2025, AY 2022-23, order dated 18-12-2025), allowed the appeal of the co-operative credit society and held that interest income earned from deposits with ICICI Bank & HDFC Bank also qualifies for deduction u/s 80P(2)(a)(i). The Tribunal noted that the Assessee is a credit co-operative society engaged in providing credit...