Section 80P(2)(d) Deduction Ineligibility for Co-op Societies on Interest Income from Investments with Co-Op Bank

PCIT Vs Totagars Co-Operative Sale Society (Karnataka High Court)

Section 80P(2)(d) deduction not eligible to co-operative societies on interest income earned from investments with another co-operative bank

The Karnataka High Court’s ruling in the case of PCIT Vs Totagars Co-Operative Sale Society centers on whether a cooperative society can claim a deduction under Section 80P(2)(d) of the Income Tax Act for interest income earned from investments with another cooperative bank. Here is a detailed summary of the case and the court’s findings:

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