ITAT allows Deduction u/s 80P(2)(d) for Interest on Deposits with Co-operative Banks, Condones 9 Days Delay

The ITAT allowed a deduction under Section 80P(2)(d) of the Income Tax Act for interest earned on deposits with co-operative banks and condoned a nine-day delay in filing the appeal. Section 80P(2)(d) provides deductions for income earned by co-operative societies from interest on deposits. The tribunal's decision highlights its lenient approach towards minor procedural delays and reinforces the tax benefits available to co-operative societies.