Co-Op society eligible for section 80P(2)(a)(i) deduction on compulsory investment with Central Co-op Bank  

Kalika Parameswari Co-operative Society Ltd Vs ITO (ITAT Bangalore) Introduction: The case of Kalika Parameswari Co-operative Society Ltd vs. ITO, heard at the ITAT Bangalore, pertains to the allowance of deduction under Section 80P(2)(a)(i) of the Income Tax Act for interest income derived from mandatory cooperative bank investments under the State Societies Act. This article delves into the details of the case, analyzing the arguments presented by both the assessee and the tax authorities, as well as the final decision rendered by the tribunal. Detailed Analysis: The appeals filed by Kalika ...