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2023 (5) TMI 1301 - AT - Income TaxDisallowance u/s. 80P(2)(d) - interest income earned from cooperative bank - HELD THAT:- Section 80P(2)(d) specifies any income by way of interest or dividend which is otherwise taxable under the head income from other sources, deduction is allowable if the same is derived from investment made with any other cooperative societies. As following the judgment of Totagars Cooperative Sale Society [2010 (2) TMI 3 - SUPREME COURT] and in the case of PCIT vs. Percoorkada Service Co. Bank Ltd. [2021 (12) TMI 1084 - KERALA HIGH COURT] we hold that assessee is eligible for deduction of interest income earned from cooperative bank. Decided in favour of assessee.
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