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RU
ITAT Panaji Allows Section 80P(2)(d) Deduction on Interest From Co-operative Society
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AdvertisementACGL BBD Employees Co-op.
Credit Society Ltd. Vs ITO (ITAT Panaji) The assessee, an employee co-operative credit society registered under the State Co-operative Societies Act, appealed against the order of the National Faceless Appeal Centre arising from an assessment under Section 143(3) of the Income-tax Act for AY 2017-18.
The Tribunal first condoned a one-day delay in filing the appeal after finding the explanation in the supporting affidavit sufficient.
The assessee had earned interest income of ₹21,18,607 from fixed/term deposits maintained with Goa State Co-operative Bank Ltd. (GSCBL)...