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2014 (4) TMI 355 - AT - Income TaxAllowability of Deduction u/s 80P of the Act Held that:- The assessee has not claimed the deduction of the section 80P of the Act in the return of income but claimed the same only during the course of the assessment proceedings - the claim of the assessee is not admissible as decided in Goetze (India) Limited Versus Commissioner of Income-Tax [2006 (3) TMI 75 - SUPREME Court] also in CIT Vs. Pruthvi Brokers and Shareholders P. Ltd. [2012 (7) TMI 158 - BOMBAY HIGH COURT] it has been held that the appellate authorities have the power to consider the claim not made in return of income - CIT(A) giving relief to the assessee at the appellate stage on the claim of deduction not made in the return of income is justified thus, CIT(A) is justified in directing the AO to allow the deduction claimed by the assessee u/s 80P of the Act on the reason that the assessee, a cooperative credit society is not a bank for the purposes of section 80P(4) of the Act the order of the CIT(A) upheld Decided against Revenue.
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