Tribunal held that, interest earned by a co-operative Society from deposits kept with co -operative bank is deductible . ( ITA No. 3566/Mum/2014 “A” dt. 15-01 2016(AY.2009 10), ( ITA No 7203/7204/Mum/2013 “B” dt .24-08-2016 (AY.2009-10 , 2010-2010-11) , ( ITA No. 1343 /Mum/ 2017 “ E” dt. 31-03 -2017 ( AY. 2013-14) , (ITA No. 6139/Mum/2014 dt 27 -09-2017 “B” , ITA No. 5435& 5436/Mum/2017 dt 8 -12-2017(SMC), ( ITA No. 6547/Mum/ 2017 dt 25-4-2018( AY.2014-2015) ( SMC) , (ITA No 6996/Mum/2017 dt. 6-03 2018 “I”) (AY. 2014-15)
Land End Co -Operative Housing Society Ltd www.itat.nec.in Nutan Laxmi Co -Operative Housing Society Ltd v. ITO www.itat.nec.in Sea Grean Co -Operative Housing Society Ltd www.itat.nec .in Merwanjee Cama Park Co -op Housing Society Ltd v. ITO ( 2018) 62 ITR 770 www.itat.nec ITO v. Citiscape Co -operative Housing Society Ltd www.itatnec.in. Kaliandas Udyog Bhavan Premises Co -Op Society Ltd v. ITO www.itat nec.in Maratha Era Co-Operative Housing Society Ltd v ITO www.itat.nec in .
S.80P: Co-operative societies – Interest earned by a co-operative Society from deposits kept with co -operative bank is deductible .[S.80P(4) ]