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2021 (9) TMI 1329 - AT - Income TaxDeduction u/s. 80P(2)(a)(i) denied - treating the Appellant as a co-operative bank - primary reason to deny the benefit of deduction u/s 80P was that the assessee was only registered under the Karnataka Souhardha Sahakari Act, 1997, and therefore, was not a cooperative society within the purview of section 2(19) - HELD THAT:- As decided in case of Swabhimani Souharda Credit Co-operative Limited [2020 (1) TMI 831 - KARNATAKA HIGH COURT] a society registered under the Karnataka Souharda Sahakari Act, 1997 is also entitled to the benefit of section 80P of the I.T.Act, the matter is restored to the files of the A.O. The A.O. is directed to examine the claim of deduction u/s 80P of the I.T.Act afresh and decide the issue in accordance with law. Thus we set restore the issue to AO to examine the claim u/s. 80P of the Act as directed by the Tribunal- Appeal filed by the assessee is treated as allowed for statistical purposes.
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