Held that according to section 80P(2)(d) of the Act if the co-operative society makes any investment in another co-operative society, any interest or dividend earned from such investment was eligible for deduction. Section 2(19) of the Act defines ”co-operative society” as a co-operative society registered under the Co-operative Societies Act, 1912 or under any other law for the time being in force in any State for the registration of co-operative societies. Section 2(10) of the Maharashtra Co-operative Societies Act, 1960 defines “co-operative bank” as a co-operative society which is doing the business of banking as defined in clause (b) of sub-section (1) of section 5 of the Banking Companies Act, 1949 and includes any society which is functioning or is to function as an Agricultural and Rural Development Bank under Chapter XI.  According to the definition, co-operative banks are also co-operative societies. The words of the statute were plain and clear and there was no room for applying any of the principles of interpretation. They were to be interpreted as they stood. Thus, the investments made by the assessee with co-operative banks in Maharashtra were investments made in co-operative societies. The Assessing Officer is directed  to grant the assessee deduction of interest earned from co-operative banks under section 80P(2)(d) of the Act. (AY.2015-16)