TMI Blog2022 (12) TMI 959X X X X Extracts X X X X X X X X Extracts X X X X ..... ciety or a primary co-operative agricultural and rural development bank, are not eligible for deduction pursuant to insertion of section 80P(4) w.e.f. 1.4.2007, but this provision does not dent the otherwise eligibility u/s 80P(2)(d) of a co-operative society on interest income on investments/deposits parked with a co-operative bank, which is a registered co-operative society as per section 2(19) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. The only issue raised in this appeal is against the denial of deduction of Rs.8,01,674/- u/s.80P(2)(d) of the Income-tax Act, 1961 (hereinafter also called the Act ) in respect of interest earned deposits kept with Goa State Co/op. Bank Ltd. 3. Briefly stated, the facts of the case are that the assessee furnished Nil return after claiming deduction u/s.80P(2). The AO, in para No.5.5 of his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f section 80P. The issue of granting deduction u/s 80P on such an income is no more res integra in view of the catena of decisions delivered by the Pune Benches. The Pune Bench in Rena Sahakari Sakhar Karkhana Ltd. Vs. Pr.CIT (ITA No.1249/PUN/2018) has, vide its order dated 07-01-2022, held that though co-operative banks, other than primary agricultural credit society or a primary co-operative agr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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