ZAMIGOLVEPALLI PRIMARY AGRICULTURAL SOCIETY LIMITED,GUDIVADA vs. INCOME TAX OFFICER, WARD-1, GUDIWADA

ITA 785/VIZ/2025Status: DisposedITAT Visakhapatnam21 August 2026AY 2020-2111 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that interest income earned by a co-operative society from its deposits with another co-operative society is eligible for deduction under Section 80P(2)(d). Therefore, the disallowance made by the lower authorities was set aside.

What were the facts?

The assessee, a primary agricultural co-operative society, claimed deduction under Section 80P(2)(d) for interest income earned from deposits with a cooperative bank. The Assessing Officer and CIT(A) disallowed this deduction, treating the interest income as taxable.

What were the issues?

Whether interest income earned by a primary agricultural co-operative society from deposits with a co-operative bank 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, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Pronounced: 21.08.2026

PER SHRI MANJUNATHA G., ACCOUNTANT MEMBER:

ITA 676/Viz/2025, A.Y.2020-21

This appeal is filed by the Assessee against the order of the Commissioner of Income Tax Appeals [“Ld.CIT(A)], National Faceless

ITA 676/VIZ/2025 & 785/Viz/2025 No I2478

The order continues below.

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