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2023 (11) TMI 1226 - AT - Income TaxDeduction u/s 80P(2)(d) - appellant is Co- operative Housing Society and has received the interest from Co-operative Society - HELD THAT:- As per catena of judicial decisions were the co-operative society receives/earns interest on deposits with the co-operative bank is eligible for claim of deduction under section 80(2)(d) of the Act. The recent decision of Kerala State Cooperative Agricultural & Rural Development Bank Ltd Vs Assessing Officer (2023 (9) TMI 761 - SUPREME COURT) has upheld the view of allowing deduction U/sec 80P(2)(d) of the Act to the Cooperative society. Accordingly, we set aside the order of the CIT(A) and direct the AO to allow the claim of deduction u/sec 80P(2)(d) on the interest income received /earned from the co-operative banks. And the grounds of appeal allowed in favour of the assessee.
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