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ITAT Pune Allows Section 80P(2)(d) Deduction on Interest from Co-op Banks
Case Law Details
- Case Name
- Saikrupa Nagari Sahakari Patsanstha Maryadit Kolhapur Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
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Saikrupa Nagari Sahakari Patsanstha Maryadit Kolhapur Vs ITO (ITAT Pune)
The Income Tax Appellate Tribunal (ITAT) Pune has ruled in favor of Saikrupa Nagari Sahakari Patsanstha Maryadit, Kolhapur, allowing a deduction under Section 80P(2)(d) of the Income-tax Act, 1961. The case pertained to the Assessment Year 2018-19, where the assessee, a cooperative credit society, had declared nil income after claiming deductions under Chapter VIA, including a deduction of ₹26,32,236 under Section 80P. The dispute arose when the Assessing Officer (AO) disallowed the deduction of ₹19,33,878 on interest...
