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2016 (9) TMI 1558 - AT - Income TaxRevision u/s 263 - claim of deduction u/s.80P - HELD THAT:- As decided in own case [2014 (4) TMI 355 - ITAT MUMBAI] identical issue has been decided in favour of the assessee in the assessee’s own case mentioned above. Following the consisting view taken on the identical issue, we are of the view that the assessee Cooperative Society does not fall within the restrictions placed u/s. 80P of the Act. In view of the said circumstances when the controversy is quite clear which has been decided in favour of the assessee, we are of the view that the order u/s.263 of the Act is not liable to be sustainable in the eyes of law because the order is not erroneous nor prejudicial to the interest of revenue. Accordingly we set aside the order in question dated 25.03.2014. The appeal of the assessee is hereby allowed.
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