2025 (2) TMI 445

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..... ancial accommodation to its members for agricultural purposes - HELD THAT:- The issue is now settled by the judgment of Mavilayi Service Cooperative Bank Ltd. [2021 (1) TMI 488 - SUPREME COURT] Respectfully following the judgment of the Hon'ble Supreme Court, we direct the AO to allow the claim of the assessee. Appeal filed by the assessee is allowed.
Shri Inturi Rama Rao, Accountant Member Fo .....

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..... Against the said return of income, assessment was completed by the Assessing Officer ("the AO" hereinafter) vide order dated 24th December, 2019 passed u/s. 143(3) of the Act at a total income of Rs. 16,48,770 by denying the claim of deduction u/s. 80P of the Act by placing reliance of provisions of subsection (4) of sec.80P of the Act. 3. Being aggrieved by the assessment order, the assess .....

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