Deduction u/s 80P(2)(d) of Income Tax Act Allowable on Interest Earned from Investment in Cooperative Bank: Madras HC [Read Order]

Interest Earned from Investment - Earned from Investment - Investment in Cooperative Bank - Cooperative Bank - Madras HC - Madras High Court - TAXSCAN

In a significant case, the Madras  High Court has held that deduction under section 80p(2)(d) of the Income Tax Act, 1961 is allowable on interest earned from investment in Cooperative Bank. The Court set aside the reassessment notice issued under the act. Thorapadi Urban Co-op Credit Society Limited and Virupachipuram Urban Co-op Credit Society Limited,…

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