Co-op Bank Interest Not Eligible for 80P(2)(d) but Section 57 Deduction Permitted

Venugopalakrishna Credit Co-operative Society Vs ITO (ITAT Bangalore) This appeal before the Income Tax Appellate Tribunal (ITAT) Bangalore was filed by Venugopalakrishna Credit Co-operative Society against an order of the CIT(A) for the Assessment Year (AY) 2012-13. The appeal was initially delayed by 430 days, but the ITAT condoned the delay after accepting the management’s explanation that the appeal was missed when appeals for subsequent assessment years were filed. The core issue stemmed from the assessment process following a notice issued under Section 148 of the Income Tax Act. ...