Interest from investment with other co-operative society deductible u/s. 80P(2)(d)

ITO Vs Bangalore Credit Co-operative Society Ltd (ITAT Bangalore)

ITAT Bangalore held that interest received from credit facilities provided to members and interest earned out of statutory deposits is allowable as deduction u/s. 80P(2)(a)(i). Also, interest/ dividends derived by co-operative society from its investment with any other co-operative society is allowable as deduction u/s. 80P(2)(d).

Facts- Assessee is a co-operative society engaged in the business of providing credit facilities to its members. Assessee is claiming deduction u/s. 80P(2) of the In

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