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2014 (6) TMI 210 - AT - Income TaxClaim of exemption u/s 80P(2) of the Act - Allowability of exemption in recovery charges and service charges – Main activity of providing credit facility to members – Held that:- The activity resulting in service and recovery charges was an integral part of the main activity of the assessee of providing credit facilities to its members and since the income from service charges and recovery charges was very much incidental to the income of the assessee from the business of providing credit facilities to its members was entitled to deduction u/s 80-P(2)(a)(i) of the Act – thus, there was no infirmity in the order of the CIT(A) – Decided against Revenue.
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