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Deduction u/s 80P(2)(d) available to co-operative society for interest earned from investment with co-operative bank
Case Law Details
- Case Name
- Marathwada Krishi Vidyapeeth Karmachari Sahkari Patsanstha Ltd Vs PCIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
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Marathwada Krishi Vidyapeeth Karmachari Sahkari Patsanstha Ltd Vs PCIT (ITAT Pune)
ITAT Pune held that interest income of co-operative society from investments/ deposits parked with co-operative bank is allowable as deduction to co-operative society under section 80P(2)(d) of the Income Tax Act.
Facts- The appeal is preferred agitating the passing of the order by the ld. Principal Commissioner of Income-tax (PCIT) u/s.263 of the Income-tax Act, 1961 holding that the grant of deduction u/s.80P by the Assessing Officer (AO) in respect of interest income earned from other credit ...
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