Deduction u/s 80P(2) available to co-operative society on interest received from investment in banks

ITO Vs Yendagandhi Large Sized Co-operative Society Ltd. (ITAT Visakhapatnam)

ITAT Visakhapatnam held that cooperative society is eligible for deduction U/s. 80P(2)(a)(i) of the Income Tax Act on the interest income received from investment in banks.

Facts-

The assessee, a primary agricultural cooperative credit society engaged in the business of providing credit facilities, supply of agricultural inputs and consumer goods to it’s memb

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