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2015 (4) TMI 720 - ITAT BANGALOREEntitlement to deduction under section 80P(2)(a)(i) - assessee was denied the deduction u/s 80P(2)(a)(i) as the provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank - Held that:- As decided in CIT v. Sri Biluru Gurubasava Pattina Sahakari Sangha Niyamitha Bagalkot [2015 (1) TMI 821 - KARNATAKA HIGH COURT] that when the status of the assessee is a co-operative society and not a co-operative bank, the order passed by the Assessing Officer extending the benefit of exemption from payment of tax under section 80P(2)(a)(i) of the Act is correct and such an order is not erroneous and therefore, jurisdiction under section 263 of the Act cannot be invoked. Thus hold that the assessee is a co-operative society entitled to claim deduction under section 80P(2)(a)(i) of the Act. - Decided in favour of assessee.
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