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
Saima
Jul 12, 2026Premium
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).
Also Read
ITAT Deletes Section 271E Penalty on Genuine Cash Repayment Between SpousesITAT Allows Withdrawal of Income Tax Appeal After Assessee Pays Tax DemandITAT Restores Appeals for Fresh Consideration After NFAC Denied Request of Personal Hearing Through Video ConferencingITAT Condones Decade-Long Delay Citing Consistency in Appellate Proceedings
About Author
Saima
Content Writer
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.
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.
StudyCafe
Delhi, Delhi, India
154My Recent Articles
- High Court Dismisses Revenue's Appeal on CENVAT Credit for Reliance Telecom Towers Following Supreme Court RulingPremium
- High Court Quashes Section 148 Reassessment Notice for 2015-16 as Barred by Limitation Premium
- ITAT Rules No Capital Gains Tax on Development Agreement Without Transfer of Possession Premium
- ITAT Holds A Sheet Found During Third-Party Search Cannot Justify Section 69A Addition Without Corroborative EvidencePremium
- ITAT Deletes Additions for Cash Deposits After Finding Assessee's Explanation CrediblePremium
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts