AdvertisementKengal Credit Co-operative Society Limited Vs ITO (ITAT Bangalore) Bangalore ITAT: Credit Co-operative Society Entitled to Full Section 80P Deduction on Bank Deposit Interest; Section 80P(4) Inapplicable The Bangalore Bench of the ITAT allowed the appeals of Sri Kengal Credit Co-operative Society Ltd. for AYs 2018-19 and 2020-21, holding that the assessee, being a credit co-operative society providing credit facilities exclusively to its members, was entitled to deduction under Section 80P(2)(a)(i) on the entire interest income earned from deposits with co-operative and commercial banks.