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2016 (4) TMI 854 - AT - Income TaxDenial of deduction u/s 80P(2)(a)(i) - Held that:- Assessee is eligible for deduction u/s 80P(20(a)(i) of the Act for the interest income earned on unutilized idle funds kept for business purposes of the society being deposited with Banas bank . In the result, the impugned additions of the appeals of assessee are deleted. See TUMKUR MERCHANTS SOUHARDA CREDIT COOPERATIVE LIMITED Versus THE INCOME TAX OFFICER, WARD-1, TUMKUR [2015 (2) TMI 995 - KARNATAKA HIGH COURT] - Decided in favour of assessee
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