ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Bank Deposits:
The ITAT treats statutory reserve interest as business income, allowing deduction under Section 80P(2)(a)(i).
Interest on statutory reserve deposits held attributable to credit society business.
Meetu Kumari
Jul 7, 2026
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ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Bank Deposits
The ITAT treats statutory reserve interest as business income, allowing deduction under Section 80P(2)(a)(i).
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Meetu Kumari
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Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
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