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2021 (9) TMI 898 - AT - Income TaxDeduction u/s 80P - definition of “co-operative society” as enacted by sec. 2(19) - deduction denied assessee was only registered under the Karnataka Souhardha Sahakari Act, 1997, and therefore, was not a co-operative society within the purview of section 2(19) - HELD THAT:- Hon’ble Karnataka High Court in the case of M/s.Swabhimani Souharda Credit Co-operative Ltd. [2020 (1) TMI 831 - KARNATAKA HIGH COURT] had decided an identical issue and held that the entities registered under the Karnataka Souharda Sahakari Act, 1997, fit into the definite term “Cooperative Society” - also see SIDDARTHA PATTINA SOUHARDA SAHAKARI NIYAMITHA [2019 (7) TMI 1390 - ITAT BANGALORE]. In the instant case, since the A.O. has decided the issue against the assessee solely for the reason that the assessee is not a Co-operative Society because it is registered under the Karnataka Souhardha Sahakari Act, 1997, thus matter needs to be examined afresh by the A.O. The A.O. is directed to examine afresh the claim of deduction u/s 80P - Appeal filed by the assessee is allowed for statistical purposes.
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