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2018 (3) TMI 955 - AT - Income TaxDenial/ Disallowance of claim of deduction u/s. 80P - whether the assessee is a co-operative Bank or Society and consequently whether the deduction u/s.80P is available to the assessee? - Held that:- The assessee is a Regional Rural Bank ,which is deemed to be a co-operative society as per the provisions of RRB Act and for the purpose of Income Tax Act and since the main function of the assessee is involved in the banking business and, therefore, not entitled for deduction u/s. 80P of the Act. CIT(A) has correctly followed the decision in the case of Vidisha Bhopal Kshetriya Gramin Bank vs ACIT [2012 (8) TMI 119 - ITAT INDORE] for the assessment year 2007-08 and 2008-09, wherein, it has been held that the RRBs are not entitled to deduction u/s.80P of the Act from the assessment year 2007-08. Whereas the assessment year involved in the present case is 2012-13. - Decided against assessee.
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