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Interest from Co-operative Bank Eligible for Section 80P(2)(d) Deduction: ITAT Surat
Case Law Details
- Case Name
- Avkar Urban Co-op Credit Society Ltd Vs ACIT (ITAT Surat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Surat
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Avkar Urban Co-op Credit Society Ltd Vs ACIT (ITAT Surat)
Interest from Co-operative Bank Eligible for Section 80P(2)(d) Deduction: ITAT Surat Grants Relief to Credit Society
The Surat SMC Bench of the ITAT allowed the appeal of a co-operative credit society for AY 2018-19 and held that deduction under Section 80P(2)(d) is allowable on interest and dividend income earned from investments with a co-operative bank. The Assessing Officer had disallowed the deduction of ₹7.45 lakh (net claim ₹3.80 lakh) on the ground that interest from a co-operative bank does not qualify for ...
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