Section 80P(2)(d) Benefit Granted Due to Plain and Liberal Reading of the Statute

Clover Everest World Co-operative Housing Society Limited Vs ITO (ITAT Mumbai)

Interest from Co-operative Bank Still Qualifies for 80P(2)(d): ITAT Deletes CPC/AO Disallowance

Assessee, a co-operative housing society, claimed deduction u/s 80P(2)(d) in respect of interest income earned on deposits placed with co-operative banks. CPC u/s 143(1) denied the claim, which was also sustained by CIT(A), holding that interest from co-operative ban

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