Deduction u/s. 80P(2)(d) admissible on interest earned from investment with Co-operative Banks: ITAT Mumbai

Laburnum Mahindra Gardens Co. Op. Hsg. Limited Vs ITO (ITAT Mumbai)

ITAT Mumbai held that deduction under section 80P(2)(d) of the Income Tax Act admissible in respect of the interest on FDR and savings account earned by co-operating housing society from investment with the Co-operative Banks.

Facts- The assessee is a co-operative housing society duly registered under the Maharashtra State Co-operative Society Act. During the assessment proceedings, the assessee was asked to furnish the details/documents, inter-alia, pertaining to the deduction of Rs.28,73,

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