Interest from Co-operative Bank Eligible for Section 80P(2)(d) Deduction: ITAT Surat

Avkar Urban Co-op Credit Society Ltd Vs ACIT (ITAT Surat)

Interest from Co-operative Bank Eligible for Section 80P(2)(d) Deduction: ITAT Surat Grants Relief to Credit Society

The Surat SMC Bench of the ITAT allowed the appeal of a co-operative credit society for AY 2018-19 and held that deduction under Section 80P(2)(d) is allowable on interest and dividend income earned from investments with a co-operative bank. The Assessing Officer had disallowed the deduction of ₹7.45 lakh (net claim ₹3.80 lakh) on the g

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