Interest on Co-operative Bank FDs Still Eligible for 80P Deduction: ITAT Pune

Deeplaxmi Nagari Sahakari Patsanstha Maryadit Vs ITO (ITAT Pune) Interest from Co-op Bank FDs Still Gets 80P Shield: Pune ITAT Allows Deduction u/s 80P(2)(a)(i) Post Mavilayi Pune ITAT (Bench “A”) in Deeplaxmi Nagari Sahakari Patsanstha Maryadit vs. ITO, Ward-2, Ahmednagar (ITA Nos.2322 & 2323/PUN/2024, AYs 2018-19 & 2020-21, order dated 19.12.2025) allowed the appeals of the co-operative credit society and held that interest earned on deposits with co-operative banks is eligible for deduction u/s 80P(2)(a)(i). The assessee, engaged in providing credit facilities to its members, ha...