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2023 (10) TMI 766 - AT - Income TaxDeduction u/s 80P - interest income earned by a co- operative society on its investment held with co-operative bank - HELD THAT:- As in case of Pr. CIT & Anr. Vs. Totgar’s Co-operative Sale Society Ltd.[2017 (1) TMI 1100 - KARNATAKA HIGH COURT] and State Bank of India [2016 (7) TMI 516 - GUJARAT HIGH COURT] had also 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) - CIT(A) has erred in upholding the denial of deduction by the AO to the assessee under section 80P(2)(d) of the Act. Assessee society who has earned from its investment of surplus fund parked with co-operative banks is entitled for deduction under section 80P(2)(d) of the Act. Decided in favour of assessee.
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