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HomeDirect TaxITAT Pune Allows Section 80P Deduction on Interest Earned From Cooperative Banks

ITAT Pune Allows Section 80P Deduction on Interest Earned From Cooperative Banks

Direct Tax

Published on

By Mariya Paliwala
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The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has ruled in favour of a cooperative credit society, holding that interest income earned from deposits made with cooperative banks qualifies for deduction under Section 80P(2)(d) of the Income-tax Act, 1961.  The bench of Dr.Manish Borad (Accountant Member) that cooperative banks continue to retain their…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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