KARAMVEER GARMEEN BIGAR SHETI SAHAKARI PATH SANSTHA MARYADIT,KOLHAPUR vs. INCOME TAX OFFICER WARD-1, ICHALKARANJI

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ITA 1854/PUN/2026Status: DisposedITAT Pune10 July 2026AY 2015-167 pages
AI SummaryAllowed

What did the Tribunal hold?

The ITAT, following Supreme Court and its own coordinate bench decisions, held that primary credit cooperative societies are eligible for deduction under Section 80P(2)(d) on interest earned from deposits with other cooperative banks. The Tribunal set aside the CIT(A)'s order.

What were the facts?

The assessee, a credit cooperative society, claimed deduction for interest income from deposits with cooperative banks. The Assessing Officer denied this claim, and the CIT(A) upheld the denial. The assessee appealed to the ITAT.

What were the issues?

Whether interest income earned by a primary credit cooperative society from deposits with other cooperative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 80P(2)(d),Section 80P(4)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE

Before: SHRI PAVAN KUMAR GADALE & DR. DIPAK P. RIPOTE

Hearing: 07.07.2026Pronounced: 10.07.2026

आदेश की प्रतितिति अग्रेतिि / Copy of the Order forwarded to : अिीिार्थी / The Appellant. 1. प्रत्यर्थी / The Respondent. 2. 3. The Pr. CIT concerned. 4. तिभागीय प्रतितिति, आयकर अिीिीय अतिकरण, “SMC” बेंच, पुणे/ DR, ITAT, “SMC” Bench, Pune. गार्डफ़ाइि / Guard File. 5. //True copy//

आदेशािुसार / BY ORDER,

Assistant Registrar, आयकर अिीिीय अतिकरण,/ ITAT, Pune.

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