Interest Income received from Co-Op Society/Banks entitled to Deduction u/s 80P(2)(d): ITAT [Read Order]

The Income Tax Appeal was accompanied by an application for condoning delay of 11 days which was allowed by the Tribunal

By Avinash Kurungot - On November 29, 2024 11:07 am - 2 mins read

Interest Income Deduction - Bank Interest Deduction - Section 80P Income Tax Deduction - taxscan

The Income Tax Appellate Tribunal ( ITAT ), Bangalore recently affirmed that deductions under Section 80P(2)(d) of the Income Tax Act, 1961 may be availed on interest income received from co-operative societies or banks. The Bangalore ITAT rendered the decision while adjudicating an Income Tax Appeal filed by M/s. Prathamika Krushi Pathina Sahakara Sangha Niyamitha…

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