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2019 (7) TMI 382 - AT - Income TaxDisallowance u/s 80P(2)(a)(i) - assessee is an AOP - whether assessee who is a co-operative credit society is entitled for deduction u/s 80P(2)(a)(i) or the assessee is a co-operative bank which is hit by provisions of Section 80P(4) ? - HELD THAT:- Assessee is co-operative credit society and is only dealing with its members in providing credit facilities on which interest is charged and the assessee is also accepting deposits from its members on which interest is paid by the assessee. We have observed that the assessee is not dealing with outside public and had confined its dealings with members only as per the facts emerging from records and as stated by learned counsel for the assessee before the Bench. We have observed that in assesse’s own case for AY 2012-13 and 2013-14, the tribunal has taken a consistent view that the assessee is entitled for deduction u/s. 80P(2)(a)(i) - As decided in assessee's own case [2016 (11) TMI 1630 - ITAT MUMBAI] relying on decision of Hon’ble jurisdictional High Court in Quepem Urban Co-operative Credit Society Ltd [2015 (6) TMI 573 - BOMBAY HIGH COURT] and further the decision of Kalpadi Cooperative Township Ltd [2016 (9) TMI 952 - MADRAS HIGH COURT] is squarely applicable upon the facts of the present case and the assessee was entitled for the deductions claimed u/s 80P(2)((a) (i). Also see assessee's own case for AY 2013-14 [2018 (10) TMI 1690 - ITAT MUMBAI] - Decided in favour of assessee.
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