Interest Income received from Co-Operative Bank is eligible deduction u/s 80(2)(d) of Income Tax Act: ITAT [Read Order]

According to the Mumbai bench of the Income Tax Appellate Tribunal (ITAT), interest income from cooperative banks is deductible under section 80(2)(d) Income Tax Act of 1961
Interest Income received from Co-Operative Bank is eligible deduction - Income Tax Act ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that interest income received from cooperative banks is eligible for a claim of deduction under section 80(2)(d) of the Income Tax Act, 1961. The assessee, Chetak Co-Operative Housing Society Ltd, is a cooperative housing society registered under the Maharashtra Society Act, 1960. The assessee filed the…

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