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, 2026Premium
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.
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