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2020 (2) TMI 1352 - AT - Income TaxDeduction u/s.80P(2) - Whether assessee-society is a "Cooperative Society" or "Primary Cooperative Bank" - HELD THAT:- DR could not controvert that the assessee does not possess a banking license from the RBI which is essential for an entity to engage in banking business. Since the society is not a primary co-operative bank, it would be eligible for deduction u/s. 80P(2) of the Act - No infirmity in the order of the ld CIT(A), which is hereby confirmed and grounds of appeal of the revenue are rejected. Appeal of the revenue is dismissed.
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