Interest / Dividend Income from Investment with Cooperative Society is Entitled to Deduction u/s 80 P (2)(d) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]

If the interest earned by assessee from the banks is considered under the head “Income from other sources”, relief to be granted to the assessee under Section 57 of the Income Tax Act, 1961 in accordance with law
ITAT - income tax - appellate tribunal - Dividend income - Cooperative society - TAXSCAN

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that interest and dividend income from investments with a cooperative society are entitled to a deduction under Section 80P(2) (d) of the Income Tax Act, 1961 and has remitted the case to the AO for fresh consideration. The  assessee Tumkur City…

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