Deduction u/s 80P(2)(d) of Income Tax Allowable to Cooperative Banks Doing Banking Business: ITAT [Read Order]

The Tribunal held that the assessee is entitled to the deduction under Section 80P(2)(d) of the Income Tax Act with respect to the amount of interest income earned from cooperative banks
Deduction us 80P(2)(d) of Income Tax - Cooperative Banks - Banking Business - ITAT - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has allowed the deduction under Section 80P(2)(d) of the Income Tax Act, 1961 to the Grand Paradi Co-op Housing Society and held that cooperative banks are cooperative societies that are doing banking business. Grand Paradi Co-op Housing, the appellant/assessee is a cooperative in society…

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.)
  ₹1599 + GST for 1 year

Subscribe Now

taxscan-loader