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TMI Blog2023 (3) TMI 718X X X X Extracts X X X X X X X X Extracts X X X X ..... Bank. It is seen that the Pune Benches of the Tribunal in Rena Sahakari Sakhar Karkhana Ltd. Vs. Pr.CIT [ 2022 (1) TMI 419 - ITAT PUNE] has held, vide its order dated 07-01-2022, that though co-operative banks, other than primary agricultural credit society or a primary co-operative agricultural and rural development bank, are not eligible for deduction pursuant to insertion of section 80P(4) w. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ociety. Assessee appeal is allowed. - ITA No.873/PUN/2022 - - - Dated:- 15-3-2023 - Shri R.S. Syal, Vice President For the Assessee : Shri Kishore B. Phadke For the Revenue : Shri Mahesh Jasnani ORDER PER R.S. SYAL, VP: This appeal by the assessee is directed against the order dated 20-10-2022 passed by the CIT(A) in National Faceless Appeal Centre, Delhi u/s.250 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sue, against which the assessee has come up in appeal before the Tribunal contending that the deduction be allowed u/s 80P(2)(d) of the Act. 4. After considering the rival submissions and perusing the relevant material on record, it is seen that the assessee is a co-operative society which earned interest and dividend from Pune Central District Cooperative Bank. It is seen that the Pune Benches ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rict Central Co-operative Bank is also a co-operative society, being, registered as such. Respectfully following the decision of the Division Bench, I overturn the impugned order and direct to grant deduction u/s.80P(2)(d) of the Act on the amount of interest and dividend income earned from Pune District Central Co-operative Bank, a co-operative society. 5. In the result, the appeal is allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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