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2014 (5) TMI 1058 - AT - Income TaxDeduction u/s 80P - CIT(A)’s only ground while denying claim of deduction is that the assessee has advanced loans to even the nominal/associate or ’B’ class members which is hit by section 80P(2)(a)(i) - Held that:- The assessee has produced before us an order in case of M/s SL(SPL) 151, Karkudalpatty Primary Agricultural Co-operative Credit Society Ltd. vs ITO [2014 (5) TMI 556 - ITAT CHENNAI]. Therein, after taking into consideration section 2(16) of the Tamilnadu Co-operative Societies Act, 1983, treating associate or ‘B’ class members within section 2(16) of the State Co-operative Societies Act, we have held that no such distinction could be drawn for the purpose of deduction u/s 80P(2)(a)(i) of the Act. We have also held that being a deduction provision, there is no scope for further classification within members. On being pointed out, the Revenue has failed to draw any distinction on facts. - Decided in favour of assessee
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