Income earned by Co-operative Society on Investment held with Co-operative Bank can be allowed as Deduction u/s 80P(2)(d): ITAT [Read Order]

Income - Income earned by Co-operative Society - Co-operative Society - Investment - Co-operative Bank - Deduction - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that income earned by a Co-operative society on investment held with Co-operative Bank can be allowed as a deduction u/s 80 2)(d) of the Income Tax Act,1961. The Appellant, M/s Jal Ratan Deep Co-operative Housing Society Ltd sought to set aside the impugned…

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