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2020 (4) TMI 711 - AT - Income TaxDisallowance u/s 80P(2)(d) - interest received from the co-operative bank - CIT(A) has upheld the order of the AO stating Saraswat Co-operative Bank Ltd. is not a cooperative society and therefore the exemption can not be allowed - HELD THAT:- In the present case, the issue is settled by the various judicial forums wherein it has been held that cooperative bank is a cooperative society and any interest income accruing to the cooperative society is eligible for deduction under section 80P(2)(d). The case of the assessee is squarely covered by the decision of the coordinate bench in the case of M/s. Lands End Coop. Housing Society Ltd. [2016 (2) TMI 620 - ITAT MUMBAI] - Decided in favour of assessee.
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