Section 80P(2)(d) deduction eligible to co-op society on Interest income on investment of fund with co-op banks

Amore Commercial Premises Co-Op Society Ltd. Vs Central Processing Centre (ITAT Mumbai)

Hon’ble High Court of Karnataka in case of Pr. CIT & Anr.Vs. Totgar’s Co-operative Sale Society Ltd. (2017) 292 ITR 74 (Kar.) and Hon’ble Gujarat High Court in case of State Bank of India vs. CIT (2016) 389 ITR 578 (Guj.) had held that interest income earned by a co-operative society on its investment held with co­operative bank would be eligible for claim of deduction under section 80P(2)(d) of the Act.

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