Interest from investment with co-operative society engaged in banking business deductible u/s. 80P(2)(d)

DCIT Vs Sardar Patel Cooperative Credit Society Limited (ITAT Ahmedabad) ITAT Ahmedabad held that the interest earned on the investment made with the Coopearitve Society which was carried out the banking business is eligible for deduction under section 80P(2)(d) of the Income Tax Act. Facts- The assessee is a Cooperative Society and is engaged in providing credit facilities to its members only from the deposits received from them. During the year under consideration, the assessee declared total income of Rs. ‘Nil’ after claiming deduction section 80P(2)(a)(i), 80P(2)(c)(ii) and 80P(2)(d) o...