TMI Blog2015 (12) TMI 1528X X X X Extracts X X X X X X X X Extracts X X X X ..... hereinafter), for the assessment years 2010-11 2009-10 respectively. 2. Both the parties submitted that though the appeals of the assessee relate to two different years but the issue involved in both the appeals are identical except for the assessment year and the amount involved. I, therefore, proceed to dispose of both the appeals by a consolidated order, for the sake of convenience. 3. The assessee, in ITA No.3130/Ahd/2014, for Assessment Year 2010-11, has raised the following grievances :- 1. The ld. CIT(A) has erred both in law and on the facts of the case in wrongly interpreting section 80P of the Act and thereby confirming the action of learned A.O. of not allowing claim of deduction u/s. 80P of the Act for the sum of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unds but the only issue which require adjudication is with respect to deduction under section 80P of the Act. 5. Learned Representatives fairly agree that the issue is covered in favour of the assessee, by a decision of the Co-ordinate bench of this Tribunal in the case of Amaalsad Vibhag Vividh Karyakari Sahkari Khedut Mandali Limited vs. ITO in ITA Nos.1710 1711/Ahd/2011 wherein vide order dated 13.08.2015, the Tribunal has, inter alia, observed as follows :- 7. We have heard the rival submissions and perused the material on record. The issue in the present case is with respect to granting of deduction under 80P on the interest earned on the deposits kept with bank. It is an undisputed fact that the assessee is a co-operative so ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re of the view that the facts of the case are identical to that in the case of Tumkar Merchants Souharda Credit Co-operative Ltd. (supra) which has been decided by Hon ble Karnataka High Court and therefore considering the facts of the present case in the light of the aforesaid decision of Hon ble Karnataka High Court and in the absence of any contrary binding decision pointed out by Revenue, we are of the view that the interest earned by the assessee is eligible for deduction under section 80P. We therefore set aside the order of A.O. In the result the ground of the assessee is allowed. 6. I see no reasons to take any other view of the matter than the view so taken by the co-ordinate bench. Therefore, respectfully following the above ..... X X X X Extracts X X X X X X X X Extracts X X X X
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