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Interest on Co-operative Bank FDs Still Eligible for 80P Deduction: ITAT Pune
Case Law Details
- Case Name
- Deeplaxmi Nagari Sahakari Patsanstha Maryadit Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
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Deeplaxmi Nagari Sahakari Patsanstha Maryadit Vs ITO (ITAT Pune)
Interest from Co-op Bank FDs Still Gets 80P Shield: Pune ITAT Allows Deduction u/s 80P(2)(a)(i) Post Mavilayi
Pune ITAT (Bench “A”) in Deeplaxmi Nagari Sahakari Patsanstha Maryadit vs. ITO, Ward-2, Ahmednagar (ITA Nos.2322 & 2323/PUN/2024, AYs 2018-19 & 2020-21, order dated 19.12.2025) allowed the appeals of the co-operative credit society and held that interest earned on deposits with co-operative banks is eligible for deduction u/s 80P(2)(a)(i).
The assessee, engaged in providing credit facilities to its members, ha...
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