Interest earned by co-operative society from deposit with co-operative banks eligible for deduction u/s 80P(2)(d)

Gautam Dhan Co-op Housing Society Ltd Vs ITO (ITAT Mumbai)

ITAT Mumbai held that deduction u/s 80P(2)(d) of the Income Tax Act is duly available to co-operative society on the interest income/dividend received/earned from deposits with the co-operative banks.

Facts- The assessee is a Housing cooperative society and has filed the return of income for the A.Y 2019-20 disclosing a total income of Rs. Nil after claiming deduction u/s 80P(2)(d) of the Act of 1,58,305/-and setof

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