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2021 (9) TMI 103 - AT - Income TaxDeduction claimed u/s 80P(2)(a)(i) - HELD THAT:- Since the issue of deduction u/s 80P(2)(a)(i) of the Act requires fresh examination in the light of decision rendered by Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. [2021 (1) TMI 488 - SUPREME COURT] we set aside the order passed by Ld. CIT(A) on this issue and restore the same to the file of the A.O. for examining it afresh as discussed above. Deduction claimed u/s 80P(2)(d) - HELD THAT:- Identical issue was also restored to the file of A.O. in the case of Thannirupantha Primary Agricultural Credit Co-operative Society Ltd. Vs. ITO [2021 (8) TMI 68 - ITAT BANGALORE] and accordingly this issue may be restored to the file of the A.O. Expenses relating to interest income should be allowed u/s 57(iii) - HELD THAT:- Since we have already restored the issue of claim of deduction u/s 80P(2)(d) of the Act, we restore this alternative contention also to the file of the A.O., since the claim of the assessee gets support from the decision rendered by Hon’ble High Court of Karnataka in the case of Totgars Co-operative Sales Society Ltd. [2015 (4) TMI 829 - KARNATAKA HIGH COURT]. Appeal of the assessee is treated as allowed for statistical purposes.
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