Section 80P(2)(d) deduction eligible on Interest Income Earned by Co-op Society from Co-op Bank

Bhairabnala Samabay Krishi Unnayan Samity Ltd. Vs ITO (ITAT Chennai)

As far as section 80P(4) of the Act, it only provides that provisions of section 80P shall not be applied in relation to any co­operative bank other than agricultural credit society or any agricultural rural bank. In simple words such cooperative Bank cannot claim deduction u/s.80P(2) & 80P(3) of the Act. Since the assessee is not a cooperative bank, but a Primary Agricultural Credit Society therefore, provisions of section 80P(4) of the Act is not app

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