Deduction u/s 80P(2)(d) was allowable on interest income received from Co-Operative Bank

Thorapadi Urban Co-op Credit Society Limited Vs ITO (Madras High Court)

Conclusion: Deduction under section 80P(2)(d) was allowable on receipt of interest from co-operative bank as a Co-operative Society was only a co-operative society as defined under the Act, be it a Co-operative Society carrying on banking business or Co-operative Society carrying on the other businesses or a Co-operative bank.

Held: The main issue was to decide in the present case was

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