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31 Ashok Tower “D” Co Op Housing Society Ltd. vs. ITO
(2024) 163 taxmann.com 598 (Mum Trib)
ITA No.: 434(Mum) of 2024
A.Y.: 2015–16
Date of order: 21st June, 2024
Section: 80P
Interest earned by a co-operative housing society on investment with co-operative banks in Maharashtra is eligible for deduction under section 80P(2)(d).
FACTS
The assessee, a cooperative housing society, filed its return of income, claiming deduction under section 80P(2)(d) on the interest income of ₹14,72,930 earned by it from its investment in co-operative banks.
During scrutiny proceedings, the AO denied the deduction under section 8
