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2020 (5) TMI 112 - AT - Income TaxDeduction u/s 80P(2)(a)(i) - denying the deduction holding assessee was registered under the Karnataka Souharda Act of 1997 under which only co-operatives and co-operative societies were registered - HELD THAT:- As decided in Siddartha Pattina Souharda Sahakari Niyamitha v. ITO [2019 (7) TMI 1390 - ITAT BANGALORE] Souharda co-operatives are also one form of co-operative societies registered under a law in force in the State of Karnataka for registration of co-operative societies. Therefore the conclusion of the revenue authorities that co-operative societies and co-operatives are different and that co-operative registered as Souharda Sahakari cannot be regarded as co-operative societies is unsustainable. We therefore hold that the Assessee should be allowed deduction u/s.80P(2)(a)(i) as the ground on which the same was denied to the Assessee is held to be incorrect. Other conditions for allowing deduction u/s. 80P(2)(a)(i) of the Act needs to be examined by the AO. Remand the question of allowing deduction u/s. 80P(2)(a)(i) of the Act to the AO, except the issue already decided above. Appeal filed by the assessee is allowed for statistical purposes
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