Interest earned by co-op society from investment with other co-op society deductible u/s 80P(2)(d)

BEE Co-op Credit Society Ltd VS ITO (ITAT Bangalore)

ITAT Bangalore held that section 80P(2)(d) of the Income Tax Act provides deduction to co-operative society from income earned by way of interest/ dividends from its investment with any other co-operative society.

Facts- The assessee is a society and claimed exemption u/s 80P. AO observed that assessee has claimed exemption u/s. 80P(2)(d) being interest income.

AO was of the opinion th

Please become a Premium member. If you are already a Premium member, login here to access the full content.