Section 80P(2)(d) Deduction Allowed- Interest from Co-op Banks Eligible, AO Directed to Delete Addition

Eldora Co-Operative Vs ITO (ITAT Mumbai) Section 80P(2)(d) Deduction Allowed- Interest from Co-op Banks Eligible, AO Directed to Delete Addition AO denied deduction u/s 80P(2)(d) to a co-operative housing society on interest income of ₹26.39 lakh earned from deposits with co-operative banks. CIT(A) upheld the disallowance. ITAT held: Conditions of Sec 80P(2)(d) satisfied: Interest earned by a co-op society from investments with another co-op society- fully eligible Co-operative bank = co-operative society: Despite Sec 80P(4), co-op banks continue to be co-op societies for this purpose No ad...