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2017 (10) TMI 1460 - KARNATAKA HIGH COURTDeduction u/s 80P(2)(a)(i) - whether the assessee is a co- operative society or a co-operative bank? - HELD THAT:- No finding is forthcoming regarding the aspect of the activities carried out by the respondent- assessee, whether as a co-operative society or not. In the absence of such factual finding, the legal propositions rendered by the Hon'ble Apex Court cannot be applied. As such, we are of the considered opinion that the matter requires reconsideration by the AO to the effect whether the assessee comes within the realm of co-operative society to get entitlement of deduction under Section 80P(2)(a)(i) of the Act. Hence, we remand the matter to the AO to answer this question and then decide the matter in the light of the judgment of the Hon'ble Apex Court in the case of Citizen Co-operative Society Limited [2017 (8) TMI 536 - SUPREME COURT] as expeditiously as possible. Thus, without rendering any finding on the substantial question of law raised, order of the Income Tax Appellate Tribunal impugned herein, is set aside. We direct the Assessing Officer to reconsider the matter in the light of the observations aforesaid.
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