Interest income from co-op society’s investments in co-op banks qualifies for Section 80P(2)(d) deduction.

Galaxy Co–op HSG Society Ltd Vs ITO (ITAT Mumbai)  ITAT Mumbai Addresses Appeal Dismissal on Limitation and Merits in Galaxy Co-op HSG Society Case Mumbai: The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, recently adjudicated on appeals filed by Galaxy Co–operative Housing Society Ltd (the assessee) against orders of the Addl./Joint Commissioner of Income Tax (Appeals) [CIT(A)] concerning the Assessment Years (A.Y.) 2014-15 and 2015-16. The core issues revolved around the disallowance of deductions claimed under sections 80P(2)(d) and 80P(2)(c) of the Income Tax Act, 1961, and the ...