Co-op Society Can Claim Sec 80P(2)(d) on Co-op Bank Interest: ITAT Ahmedabad

Uttar Gujarat Uma Co-op Credit Society Ltd. Vs ITO (ITAT Ahmedabad) Co-op Credit Society Ltd can claim deduction under Section 80P(2)(d) of the Income Tax Act, 1961 on interest income earned from deposits with co-operative banks: ITAT Ahmedabad In a significant ruling for co-operative credit societies, the Income Tax Appellate Tribunal (ITAT) Ahmedabad has clarified the eligibility of deduction under Section 80P(2)(d) of the Income Tax Act, 1961, for interest income earned from deposits with co-operative banks. The decision came in the appeals filed by Uttar Gujarat Uma Co-op Credit Society Lt...