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2023 (6) TMI 560 - AT - Income TaxDeduction u/s 80P(2)(d) - interest income derived from fixed deposits - denial of deduction for reason that such receipts from cooperative societies is not eligible for the foregoing relief - HELD THAT:- Find no merit in the Revenue’s stand in the light of this Tribunal’s recent decision in The Belagavi Manufacturers cooperative Industrial Estate Ltd., Udyambag – Belagavi and others [2022 (4) TMI 339 - ITAT PANAJI] held investment of assessee in cooperative bank is eligible investment u/s 80P(2)(d) of the Act. The interest of the said investment related to Cooperative Society, assessee is eligible for deduction u/s 80P(2)(a)(i) of the Act. Accordingly the appeals of the assessee are allowed.
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