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Section 80P(2)(d) deduction allowable to Co-Op Society on Interest Income from co-op banks
Case Law Details
- Case Name
- Reserve Bank Staff and Officers Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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Reserve Bank Staff and Officers Vs ITO (ITAT Mumbai)
The Income Tax Appellate Tribunal (ITAT) Mumbai has provided a significant ruling on the application of Section 80P(2)(d) of the Income-tax Act, 1961, concerning the deduction eligibility for interest income earned by cooperative societies from cooperative banks. The series of appeals filed by Reserve Bank Staff and Officers Co-Op Society for Assessment Years (AYs) 2013-14, 2014-15, 2017-18, 2018-19, and 2020-21 have brought to light the nuances surrounding this deduction. This analysis delves into the tribunal’s decis...
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