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2023 (1) TMI 614 - ITAT MUMBAIDeduction u/s 80P - assessee is a Co-operative Credit Society and is engaged in the business of accepting and lending money to its members only in the normal course of its activities - AO came to the conclusion that the assessee is a co-operative bank and therefore is covered under the provisions of section 80P(4) and thus the deduction provided under section 80P of the Act would not be available to it from the assessment year 2007-08 onwards - HELD THAT:- We find that similar findings were rendered by the coordinate bench of the Tribunal in assessee’s own case in ITO vs Maharashtra Mantraliya Va Sanlagana Shaskiya Karamchari Co-op. Credit Society Ltd.[2014 (10) TMI 1063 - ITAT MUMBAI] while deciding a similar issue in favour of the assessee - We find that this issue is recurring in nature and has been decided in favour of the assessee by the decision of the coordinate bench of the Tribunal for the preceding assessment years. DR could not show us any reason to deviate from the aforesaid decisions and no change in facts and law was alleged in the relevant assessment year. Thus, respectfully following the orders passed by the coordinate bench of the Tribunal in assessee’s own case cited supra, we find no infirmity in the impugned order passed by the learned CIT(A), which has rightly followed the judicial precedents in assessee’s own case. As a result, grounds raised by the Revenue are dismissed.
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