ITAT Holds Interest on Statutory Deposits with Co-operative Banks is Eligible for Deduction under Section 80P :

ITAT Holds Interest on Statutory Deposits with Co-operative Banks is Eligible for Deduction under Section 80P

The ITAT Pune holds that interest earned by a credit co-operative society on statutory deposits maintained with co-operative banks qualifies for deduction under Sections 80P(2)(a)(i) and 80P(2)(d).

ITAT dismisses Revenue's appeal

authorSaimadateJul 12, 2026
Last update on Jul 11, 2026
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ITAT Holds Interest on Statutory Deposits with Co-operative Banks is Eligible for Deduction under Section 80P

The ITAT Pune holds that interest earned by a credit co-operative society on statutory deposits maintained with co-operative banks qualifies for deduction under Sections 80P(2)(a)(i) and 80P(2)(d).

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Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
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