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2015 (11) TMI 739 - AT - Income TaxDeduction under section 80P(2)(a)(i) denied - Held that:- After considering the aims and objects of the assessee, it is held that the assessee is not a co-operative bank in terms of the Banking Regulation Act. The case law relied upon by the Commissioner of Income-tax (Appeals) are not squarely applicable on the case of the assessee. Therefore, we reverse the order of the learned Commissioner of Income-tax (Appeals). The assessee is entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act. - Decided in favour of assessee.
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