Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]
ITAT disallowed deduction under Section 80P (2)(d) of the Income Tax Act, 1961, stating that interest income received from cooperative banks cannot be considered equivalent to interest received from a cooperative society
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) disallowed deduction under Section 80P (2)(d) of the Income Tax Act, 1961, stating that interest income received from cooperative banks cannot be considered equivalent to interest received from a cooperative society. A cooperative society, registered under the Karnataka Cooperative Societies Act, 1959, is…
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