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TMI Blog2018 (8) TMI 2098X X X X Extracts X X X X X X X X Extracts X X X X ..... titutions and this claim was denied by the AO on the ground that provisions of section 80P(2)(a)(i) does not cover assessee-society - HELD THAT:- We find that in the case of State Bank of India Co-operative Society [ 2016 (7) TMI 516 - GUJARAT HIGH COURT ] has held that interest earned from investment made in nationalized bank by a cooperative society engaged in providing credit facilities to its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ory deduction under section 80P. - Decided is partly allowed for statistical purpose. - ITA No. 3375/Ahd/2016 - - - Dated:- 28-8-2018 - Shri Rajpal Yadav, Judicial Member And Shri Waseem Ahmed, Accountant Member For the Assessee : Shri Piyush Agarwal, AR. For the Revenue : Shri Vikram C.S. Sharma, SR.DR. ORDER PER RAJPAL YADAV, JUDICIAL MEMBER : Present appeal is dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authorities are in terms of judgment of the Hon ble High Court cited supra, no interference thereof is required and the appeal of the assessee may be dismissed. However, the ld.counsel for the assessee does not contest judgment of Hon ble Gujarat High Court, but submitted that in case claim of the assessee is not found to be admissible, then proportionate administrative and financial expenses inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l High Court has held that interest earned from investment made in nationalized bank by a cooperative society engaged in providing credit facilities to its members, is not eligible for deduction under section 80P. The Tribunal in earlier occasions on similar issue has taken a consistent view by following above judgment of the Hon ble jurisdictional High Court. Since orders of the Revenue authoriti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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