Section 80P deduction eligible on Interest received by Co-Op society from Co-Op bank

Palm Court M Premises Cooperative Society Limited Vs PCIT (ITAT Mumbai)

It is evident that the assessee is a co-operative housing society registered under the Co-operative Housing Societies’ Act and that the assessee has earned interest income of Rs.12,90,210/- which was claimed as deduction under section 80P(2)(d). It is observed that the assessee has invested the surplus funds with co-operative banks and non co-operative banks for which the assessee has received interest income of Rs.10,39,909/- from non co­operative ba

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