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2023 (5) TMI 161 - AT - Income TaxDeduction u/s 80P - interest derived from deposits made in various cooperative other banks during the course of scrutiny - HELD THAT:- We find merit in assessee’s arguments in light of this tribunal’s recent order in Lokmangal Nagri Sahakari Path Sanstha Maryadit, Solapur [2022 (12) TMI 355 - ITAT PUNE] wherein as admittedly held that the interest income was earned from the cooperative banks, the cooperative bank is also a specie of cooperative society, therefore, the interest income earned by the cooperative society from the cooperative banks qualifies for deduction u/s 80(P)(2)(d) of the Act. Such interest also qualifies for exemption u/s 80P(2)(a)(i) as held by the Co-ordinate Bench of Pune Tribunal in the case of Nashik Road Nagari Sahkari Patsanstha Limited [2021 (12) TMI 1259 - ITAT PUNE] Decided in favour of assessee.
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