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Section 80P(2)(d)

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The ITAT Mumbai has ruled that co-operative housing societies can claim deduction under Section 80P(2)(d) on interest earned from deposits with co-operative banks, offering significant tax relief and settling a long-standing dispute.

Big Relief for Housing Societies: ITAT Mumbai Allows Deduction on Interest from Co-operative Banks

The ITAT Mumbai has ruled that co-operative housing societies can claim deduction under Section 80P(2)(d) on interest earned from deposits with co-operative banks, offering significant tax relief and settling a long-standing dispute.
ITAT Mumbai dismisses Dadar housing society’s appeals for 2011–16 after 7-year delay, despite society being legally correct on ₹4–5 lakh 80P deduction claim.

Income Tax Tribunal slams door on Dadar housing society: 7-year delay costs ₹4–5 lakh tax relief despite being legally correct

A 15-member Dadar senior-citizens housing society lost its fully valid ₹4–5 lakh tax exemption claim only because it filed appeals 7–8 years late. ITAT Mumbai refused to condone the “gross negligence”, slamming the door despite the department being clearly wrong on law. A harsh reminder: even if you’re 100% right, miss the limitation period by years and you lose everything.