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2021 (1) TMI 1108 - AT - Income TaxDeduction u/s 80P - AO treated the assessee as a cooperative bank other than primary agricultural credit society and denied the claim of deduction u/s 80P - HELD THAT:- As relying on decisions in the case of the appellant [2018 (6) TMI 1746 - ITAT MUMBAI] and the decision of the Hon'ble High Court of Karnataka in the case of Tumkur Merchants' case [2015 (2) TMI 995 - KARNATAKA HIGH COURT] it is held that the appellant is eligible for deduction u/s. 80P(2)(a)(i) in respect of the income and it is also eligible for deduction in respect of dividend income of ₹ 1,19,589/- u/s. 80P(2)(d) of the Act. The AO is directed to allow deduction u/s. 80P as claimed by the appellant and assess the total income at Rs. Nil. Ground no. 1 is allowed of assessee.
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