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2023 (6) TMI 164 - AT - Income TaxDeduction u/s 80P(2)(d) - interest income earned by the Cooperative Society on its investment made with co-operative bank - HELD THAT:- As in case of Totgar’s Co-operative Sale Society Ltd. [2017 (7) TMI 1049 - KARNATAKA HIGH COURT] and case of State Bank of India [2016 (7) TMI 516 - GUJARAT HIGH COURT] had held that interest income earned by a co-operative society on its investment held with co-operative bank would be eligible for claim of deduction u/s 80P(2)(d) of the Act. So following the decision rendered above and Palm Court M Premises Co-operative Society Ltd. [2022 (9) TMI 650 - ITAT MUMBAI] we are of the considered view that assessee society who has earned an amount from its investment of surplus fund with co-operative banks is entitled for deduction u/s 80P(2)(d) - CIT(A) has erred in upholding the denial of deduction by the AO to the assessee under section 80P(2)(d) - Decided in favour of assessee.
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