Interest from UCBs Eligible for Section 80P Deduction: ITAT Ahmedabad

Bhagyalaxmi Co.Op. Credit Society Limited Vs DCIT (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench has allowed a cooperative society, Bhagyalaxmi Co.Op. Credit Society Limited, to claim a deduction of Rs. 17,30,372 under Section 80P(2)(d) of the Income-tax Act, 1961, for interest received from an Urban Co-operative Bank. The appeal, filed by the assessee for Assessment Year 2018-19, challenged the disallowance made by the Assessing Officer (AO) and confirmed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi. Bhagyalaxmi Co.Op. Credit Society Limited, a regis...