DHARAPURAM PUBLIC SERVENTS CO-OP THRIFT AND CREDIT SOCIETY LTD. ,TIRUPUR vs. ITO, WARD 2(4), TIRUPUR, TIRUPUR

ITA 2148/CHNY/2025Status: DisposedITAT Chennai30 October 2025AY 2021-2022Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI JAGADISH (Accountant Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that interest income received by a co-operative society from investments in another co-operative bank is eligible for deduction under Section 80P(2)(d) of the Income Tax Act, 1961, following the High Court's ruling.

What were the facts?

The assessee, a co-operative credit society, claimed deduction under Section 80P(2)(d) for interest income received from a co-operative bank. The CPC and the Ld. Addl. CIT(A) disallowed this claim.

What were the issues?

Whether interest income received by a co-operative society from investments in a co-operative bank is eligible for deduction under Section 80P(2)(d).

Which sections of the Income-tax Act were involved?

Section 143(1),Section 80P,Section 80P(2)(d),Section 2(19),Section 80P(2)(a)(i)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI JAGADISH

Hearing: 22.10.2025Pronounced: 30.10.2025

PER JAGADISH, A.M : Aforesaid appeal filed by the assessee arises out of the order of Learned Commissioner of Income Tax, Appeal, Addl/JCIT(A)-4, Kolkata [hereinafter “Addl. CIT(A)”] dated 01.02.2024 against the intimation u/s. 143(1) of the Income-tax Act, 1961 (hereinafter “the Dharapuram Public Servants Co-Operative Thrift and Credit Society Ltd. CE17 :- 2 -:

Act”) issued by Centralized Processi

The order continues below.

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