Section 80P(2)(d) deduction on interest/dividend income out of investments with co-op society

Tumkur City Credit Souharda Cooperative Society Limited Vs ITO (ITAT Bangalore) In a significant judgment, the Income Tax Appellate Tribunal (ITAT) Bangalore ruled on the case of Tumkur City Credit Souharda Cooperative Society Limited vs. Income Tax Officer (ITO). This case, centered on the eligibility of deductions under section 80P of the Income Tax Act, 1961, has pivotal implications for cooperative societies and their tax liabilities. The tribunal’s decision to remit the case back to the Assessing Officer (AO) for fresh consideration underscores the complexities involved in tax deduc...