Allowability of deduction U/s. 80P(2)(a)(i) to Co-operative society engaged in providing credit facilities to members

Jodhpur Sahakari Bhoomi Vikas Bank Ltd. Vs ITO (ITAT Jodhpur)

We uphold that the assessee is a cooperative society and not a cooperative bank and, therefore, entitled to deduction under section 80P of the Act. We therefore, set aside the orders of the lower authorities and direct the assessing officer to allow deduction under section 80P of the Act to the assessee.

FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-

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