ITAT Mumbai Allows Section 80P(2)(d) deduction on interest from co-op banks

Dheeraj Gaurav Heights-1 Co- Operative Housing Society Limited Vs ITO (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT) Mumbai ruled in favor of Dheeraj Gaurav Heights-1 Co-operative Housing Society Limited, allowing the deduction under Section 80P(2)(d) of the Income Tax Act. The case involved an appeal against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] denying the deduction on interest income received from cooperative banks. The appeal stemmed from an adjustment made under Section 143(1)(a) by the Centralized Processing Center (CPC), which disallowed the deduction, a dec...