Co-operative society receives/earns Interest on deposits with Co-operative bank is eligible for claim of Deduction u/s 80(2)(d): ITAT [Read Order]

By Sunayana Dhal - On November 26, 2023 4:00 pm - 2 mins read

Co-operative society - Interest - deposits - Co-operative bank - claim of Deduction - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the co-operative society receives/earns the interest on deposits with the co-operative bank is eligible for claim of deduction under Section 80(2)(d) of the Income Tax Act, 1961. The assessee is a cooperative housing society registered under the Maharashtra Society Act 1960. The assessee…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics

Co-operative Bank Co-Operative Society Commissioner of Income Tax (Appeal)ITAT Mumbai Pavan Kumar Gadale section 143(1) of the Income Tax Act