Section 80P(2)(d) deduction not eligible on interest earned on Investments made in any Bank

Krishnarajapet Taluk Agri Pro Co-op Marketing Society Ltd. Vs PCIT (ITAT Bangalore)

In the light of the principles enunciated by the Supreme Court in Totgars Co-operative Sale Society (supra), in case of a society engaged in providing credit facilities to its members, income from investments made in banks does not fall within any of the categories mentioned in section 80P(2)(a) of the Act. However, section 80P(2)(d) of the Act specifically exempts interest earned from funds invested

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