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Section 80P(2)(d) deduction: Co-op Society Eligible to claim on Interest Income from FDR with Co-op Bank
Case Law Details
- Case Name
- Rethal Dudh Utpadak Sahkari Mandali Ltd. Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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Rethal Dudh Utpadak Sahkari Mandali Ltd. Vs ITO (ITAT Ahmedabad)
The case of Rethal Dudh Utpadak Sahkari Mandali Ltd. Vs ITO, adjudicated by the Income Tax Appellate Tribunal (ITAT) in Ahmedabad, presents a crucial judgment concerning the deductions under Section 80P(2)(d) of the Income Tax Act, 1961. ITAT’s ruling affirms that a Co-operative Society can claim Section 80P(2)(d) deductions for the interest income derived from a Fixed Deposit Receipt (FDR) with a Co-operative Bank.
Analysis:
The appellant, a Co-operative Society engaged in milk collection and supply, sough...
