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Housing Society Interest from Co-op Bank Eligible for 80P(2)(d) Deduction: ITAT Mumbai
Case Law Details
- Case Name
- Lake Florence ABCDEF & G CHS Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Lake Florence ABCDEF & G CHS Ltd. Vs DCIT (ITAT Mumbai)
Interest from Co-operative Bank Held Eligible for Deduction – ITAT Allows 80P(2)(d) & 80P(2)(c) Claim of Housing Society
Assessee, a co-operative housing society, claimed deduction u/s 80P(2)(d) & 80P(2)(c) on interest income earned from deposits with co-operative banks. AO disallowed the claim, holding that such interest was not eligible for deduction, & CIT(A) upheld the order.
Before Tribunal, Assessee relied on several decisions of Gujarat, Karnataka & Madras High Courts & coordinate benches of Mumbai ITAT, w...
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