2013 (2) TMI 47

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..... nk [2013 (1) TMI 553 - ALLAHABAD HIGH COURT] & [2013 (1) TMI 552 - ALLAHABAD HIGH COURT] the cooperative banks who are carrying on banking business are entitled for deduction under Section 80P(2)(a)(i) - INCOME TAX APPEAL No. - 29 of 2010 - - - Dated:- 16-1-2013 - R.K. AGRAWAL, AND RAM SURAT RAM (MAURYA), JJ. Petitioner Counsel:- Dhananjay Awasthi Respondent Counsel:- R.R. Kapoor,K.N .....

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..... bserving that it has not been refuted that the assessee is a registered co-operative society carrying on banking business, while AO's Order is itself based on the findings that the assessee was not a co-operative society but an AOP. 3.Whether in view of debt recovery tribunal Order for financial embezzlement, the assessee is entitled for exemption u/s 80P(2)(a)(i) as basic eligible is doubted an .....

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..... an appeal before the Commissioner of Income Tax (appeals), Ghaziabad who vide order dated 29th August, 2008 had partly allowed the appeal. The exemption claimed under Section 80P(2) (a)(i) of the was allowed. The Revenue feeling aggrieved preferred an appeal before the Tribunal. The Tribunal vide impugned order had dismissed the appeal. We have heard Sri Dhananjay Awasthi, learned Senior Standin .....

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