No section 80P deduction on Interest earned from investments made with Co-op Bank

Nikhara Souharda Credit Co- operative Limited Vs ITO (ITAT Bangalore) The issue to be decided is with regard to the interest income earned on account of investments made with co-operative Banks, whether it is entitled to deduction either u/s 80P(2)(d) or u/s 80P(2)(a)(i) of the I.T.Act. The Bangalore Bench of the Tribunal in the case of M/s.Vasavamba Co­operative Society Ltd. (supra) had held that the assessee is not entitled to deduction either u/s 80P(2)(d) nor u/s 80P(2)(a)(i) of the I.T.Act with regard to the interest income earned from investments made with co-operative banks. The Bangal...