Co-op societies engaged in banking business eligible for section 80P deduction on interest income on bank deposits

M.P. Police Sakh Sahkari Sanstha Maryadit Vs PCIT (ITAT Indore)

Co-operative societies engaged in banking business are eligible for deduction u/s. 80P on their interest income from bank deposits- ITAT Indore

Facts of the Case

1. The assessee is a co-operative society engaged in the business of banking which filed ITR claiming deduction u/s 80P.

2. The case was selected for scrutiny assessment where the claim of assessee was allowed.

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