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2015 (1) TMI 1295 - AT - Income TaxEligibility to claim deduction under sec.80P(2)(a)(i) - Held that:- The activities in the nature of accepting deposits, advancing loans etc.,carried on by the assessee are confined to its members only and that too in a particular geographical area. The activities of the assessee are not regulated by the RBI or the provisions of the Banking Regulation Act. Thus, in view of the above stated fact we do not find any infirmity in the order of the CIT(Appeals) holding that the assessee is eligible to claim deduction under sec.80P(2)(a)(i) - Decided in favour of assessee
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