Meherzin Co Operative Housing Society Limited Vs ITO, Ward-25(2)(1), Mumbai
Case No: ITA No. 5839/MUM/2025 (AY : 2017-18)
Court: INCOME TAX APPELLATE TRIBUNAL, SMC BENCH, MUMBAI
Date: 1/27/2026
Parties Involved
appellantMeherzin Co Operative Housing Society Limited
respondentITO, Ward-25(2)(1), Mumbai
Facts Summary
This appeal by Meherzin Co Operative Housing Society Limited is directed against the assessment order of the CIT(A)/NFAC, Delhi dated 15.07.2025 for Assessment Year 2017-18. The assessee claimed deduction of interest income earned from various cooperative banks amounting to Rs. 16,58,907/- under section 80P(2)(d) of the Income Tax Act. The assessing officer disallowed this claim, stating that cooperative banks are not included in section 80P(2)(d). The assessee argued that cooperative banks shou…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the deduction under section 80P(2)(d) is allowable for interest income earned from cooperative banks.
Precedents Relied Upon
8 precedents cited in this judgement.