Held that the assessee was entitled to the deduction under section 80P(2)(d) of the Act in respect of interest income earned from investment with co-operative banks, which were registered as co-operative societies under the relevant statute. Followed Kaliandas Udyog Bhavan Premises Co-Operative Society Ltd v. ITO, ITA No 6547 /Mum/ 2017 dt 25-4-2018 (AY.2014-15, 2016-17 to 2018-19)
Maker Tower A&B Co-Operative Housing Society Ltd v. ACIT (2022)99 ITR 73 (SN)(Mum) (Trib).
S. 80P : Co-operative societies-Interest from Co-Operative Banks-Entitle to deduction.[S. 2(19), 80P(2)(d)]