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2016 (7) TMI 1459 - ITAT PANAJIDeduction to the assessee under sec. 80P(2)(a)(i) - Held that:- The Commissioner of Income Tax (Appeals) has allowed the claim of deduction under sec. 80P(2)(a)(i) of the Act after following the decision in the case of M/s. The Quepem Urban Cooperative Credit Society Ltd. Vs. ACIT [2015 (6) TMI 573 - BOMBAY HIGH COURT] - No contrary decision could be cited by the Departmental Representative. We, therefore, do not find any good and justifiable reason to interfere with the order of the Commissioner of Income Tax [A] Addition made under sec. 40(a)(ia) read with sec. 194A - Held that:- As we have already held that the assessee is not a bank while deciding the issue of allowability of deduction under section 80P(2), the provisions of section 40(a)(ia) would not apply insofar as no TDS is liable to be made by the assessee. - Appeal of revenue dismissed.
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