Interest from co-operative bank eligible for deduction u/s. 80P: ITAT Nagpur

Coal Mines Workers Credit Co–operative Society Ltd. Vs ITO (ITAT Nagpur)

ITAT Nagpur held that interest income earned by co-operative society from its investments made with other co-operative bank is eligible for deduction under section 80P(2)(a)(i) of the Income Tax Act. Accordingly, appeal of the assessee allowed.

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