Interest From Co-op Banks Fully Deductible U/s 80P(2)(d), Totgars Misapplied

DCIT Vs Larsen & Toubro Group Employees Co-op. (ITAT Chennai)

The ITAT Chennai dismissed the Revenue’s appeal and upheld deletion of ₹2.00 crore disallowance, firmly holding that interest earned by a co-operative society from deposits with co-operative banks qualifies for deduction u/s 80P(2)(d).

The assessee, an Please become a Premium member. If you are already a Premium member, login here to access the full content.