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2019 (9) TMI 1333 - AT - Income TaxDeduction u/s 80P - denial of deduction as activities relate to giving loans to members/nominal members etc are earned the interest income - existence of two kinds of members of cooperative society - HELD THAT:- The earnings out of investments in PDCC, Credit Co-operative Banks and others, are exempt u/s 80P of the Act. Considering the settled nature of the issue at the level of Sai Prerana Gramin Bigarsheti Sahakari Pat Sanshta Maryadit [2019 (7) TMI 1582 - ITAT PUNE] and following the rule of consistency, said issue should be decided in favour of the assessee.
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