Interest from Co-Op Banks Eligible for Section 80P(2)(d) deduction as they are Co-op- Societies: ITAT Mumbai

Grand Paradi Co-op Housing Vs ITO (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai recently addressed a significant issue regarding the eligibility of cooperative banks under Section 80P(2)(d) of the Income Tax Act. In the case of Grand Paradi Cooperative Housing Society Ltd. vs. The Income Tax Officer (ITO), ITAT Mumbai rendered a crucial decision allowing a deduction under Section 80P(2)(d). Detailed Analysis: Grand Paradi Cooperative Housing Society Ltd. (the appellant) filed an appeal against the order of the Joint Commissioner of Income Tax (Appeals), Guwahati, challenging th...