ITAT Pune Allows Section 80P(2)(d) Deduction on Co-operative Bank Dividends

Advertisement Narayandas Ramdas Sevak Sahakari Patsanstha Maryadit Vs  ITO (ITAT Pune) The Pune Bench of the Income Tax Appellate Tribunal allowed the assessee’s appeals for Assessment Years 2018-19 and 2020-21 against separate orders of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre. The assessee, a co-operative society engaged in accepting deposits and granting credit to its members, had claimed deduction under Section 80P of the Income-tax Act in respect of interest and dividend income earned from investments. In Assessment Year 2018-19, the Assessing Off...