Section 80P(2)(d) Deduction Allowed on Cooperative Bank Interest: ITAT Pune

Advertisement Annapurna Nagari Sahkari Vs ITO (ITAT Pune) The appeal concerned Assessment Year 2013-14 and arose from the order of the National Faceless Appeal Centre passed under Section 250 of the Income-tax Act against an assessment framed under Sections 147, 144 and 144B. At the outset, the assessee did not press Grounds Nos. 1 to 4, which were dismissed as not pressed. The surviving issue in Grounds Nos. 5 to 8 was whether the assessee was entitled to deduction under Section 80P(2)(d) on interest income of ₹1,02,95,103 earned from deposits and investments with Cooperative Banks. The ...