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2021 (5) TMI 635 - AT - Income TaxDisallowance u/s 80P(2)(d) - claim of interest income from the deposits in Co–operative bank - AO disallowed the claim for both the years under consideration holding that the deduction is available for investment in other co–operative societies and not other co–operative banks as he was of the view that Co-operative Society and Co–operative Banks have been given different treatment even under section 194A of the Act which relates to TDS - HELD THAT:- We find that the issue in respect of deduction claimed in respect of interest income earned from Co–operative Banks under section 80P(2)(d) of the Act is squarely covered by the decisions relied upon by the learned Counsel for the assessee as aforesaid wherein identical issue, except variation in figures, has been decided by the Tribunal in (i) Amit Tata Employees Co–operative Housing Society Ltd. v/s ACIT, [2019 (7) TMI 1811 - ITAT MUMBAI] (ii) Poonam Chambers Premises Co–Op. Society Ltd. v/s ACIT. [2018 (8) TMI 2033 - ITAT MUMBAI](iii) Merwanjee Cama Park Co–operative Housing Society Ltd. v/s ITO [2017 (10) TMI 58 - ITAT MUMBAI] (iv) ITO v/s Eternity Co–operative Housing Society Ltd. [2018 (5) TMI 2029 - ITAT MUMBAI] Consistent with the view taken in the aforesaid Co–ordinate Bench decisions in which the decision of the Hon’ble Karnataka High Court in Totagars Co–operative Society [2017 (7) TMI 1049 - KARNATAKA HIGH COURT] was distinguished by the Co–ordinate Bench. We hold that the assessee is a Co–operative Society is entitled for claiming deduction under section 80P(2)(d) of the Act in respect of the interest income earned from either from Co–operative Bank or from Co–operative Society whatsoever that may be. Consequently, we uphold the order of the learned Commissioner (Appeals) by dismissing the ground raised by the Revenue.
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