Co-Operative Societies can claim section 80P(2) deduction on Interest Received from Co-Op. Banks 

Advertisement SKF India Employee Co-Operative Credit Society Limited Vs PCIT (ITAT Pune) In a recent tax dispute, the Income Tax Appellate Tribunal (ITAT) of Pune delivered a crucial judgment. This judgment pertains to the SKF India Employee Co-Operative Credit Society Limited’s appeal against the Principal Commissioner of Income Tax (PCIT), Pune, for the assessment year 2018-2019. The case centers around the claim of the Co-Operative Society on interest received from Co-Op. Banks as a deduction under section 80P(2) of the I. T. Act, 1961. The tribunal heard both parties, and the deta...