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TMI Blog2023 (6) TMI 1316X X X X Extracts X X X X X X X X Extracts X X X X ..... ome from the deposits with other Co-operative Banks. The extant issue is no more res integra in view of the catena of decisions delivered including the Rena Sahakari Sakhar Karkhana Ltd.[ 2022 (1) TMI 419 - ITAT PUNE] holding that though co-operative banks, other than primary agricultural credit society or a primary co-operative agricultural and rural development bank, are not eligible for ded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent For the Assessee : Shri Pramod Shingte. For the Revenue : Shri Gurmel Singh. ORDER PER R.S. SYAL, VP: This appeal by the assessee is directed against the order dated 17-03-2023 passed by the CIT(A) in National Faceless Appeal Centre, Delhi u/s.250 of the Income-tax Act, 1961 (hereinafter also called the Act ) in relation to the assessment year 2020-21. 2. The o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of the Assessing Officer came to be approved in the first appeal on this issue, against which the assessee has come up in appeal before the Tribunal contending that the deduction be allowed u/s 80P(2)(d) of the Act. 4. After considering the rival submissions and perusing the relevant material on record, it is seen that the assessee is a co-operative society and earned interest income amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... defining co-operative society to mean a cooperative society registered under the Co-operative Societies Act, 1912 or under any law for the time being in force. The payer of interest is also a Co-operative society registered under the Cooperative Societies Act. Respectfully following the decision of the Division Bench, I overturn the impugned order and direct to grant deduction u/s.80P(2)(d) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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