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2018 (6) TMI 830 - AT - Income TaxDeduction u/s 80P(2)(a)(i) - assessee were doing the business of banking and therefore in view of the insertion of the provisions of section 80P(4) the assessee were not entitled to the deduction u/s 80P - Held that:- Assessees in these cases are primary agricultural credit societies, registered as such under the Kerala Co-operative Societies Act - in case of ITO v. The Chengala Service Co-operative Bank Limited (2018 (4) TMI 339 - ITAT COCHIN) had categorically held that when a primary agricultural credit Society is registered as such under the Kerala Co-operative Societies Act, 1969, such society is entitled to the benefit of deduction u/s 80P(2) - thus we hold that the CIT(A)’s are justified in directing the A.O. to grant deduction u/s 80P(2)(a)(i) - Decided in favor of assessee.
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