Relief for BSNL Employees’ Co-operative Society: ITAT grants Section 80P(2) Deduction

The ITAT granted a Section 80P(2) deduction to the BSNL Employees Co-operative Society, providing relief to the organization. The deduction under Section 80P(2) is available to co-operative societies engaged in activities such as banking or providing credit facilities to their members. The tribunal's decision in favor of the society underscores the importance of cooperative societies in the financial ecosystem and ensures they can continue to benefit from tax exemptions designed to support their operations.