Investments with Co-operative Society eligible for Section 80P(2)(d) Deduction: ITAT [Read Order]

The assessee is eligible to claim deduction under Section 80P (2)(a)(i) and/or 80P(2)(d) on the interest income earned on its investment amount made with District co-operative banks
Income Tax - ITAT - ITAT Bangalore - Income Tax Appellate Tribunal - Cooperative Society - TAXSCAN

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that under Section 80P (2)(d), taxpayers are eligible for a deduction on interest and dividend income earned from investments with cooperative societies. The issue to be decided was whether the assessee was eligible to claim deduction under Section 80P (2)(a)(i) and/or…

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