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Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section 2(31) of the Income Tax Act. It noted that there was no separate status specified for cooperative societies. Since there was no specific status for cooperative societies, mentioning the status as AOP did not disqualify the assessee from claiming the deduction under section 80P(2)(a)(i). The Tribunal also cited a precedent where a similar issue was addressed by a co-ordinate bench, which allowed the deduction for a cooperative society even though the status mentioned was AOP. - AO directed to allow the deduction as claimed under section 80P(2)(a)(i) of the Income Tax Act.
Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section 2(31) of the Income Tax Act. It noted that there was no separate status specified for cooperative societies. Since there was no specific status for cooperative societies, mentioning the status as AOP did not disqualify the assessee from claiming the deduction under section 80P(2)(a)(i). The Tribunal also cited a precedent where a similar issue was addressed by a co-ordinate bench, which allowed the deduction for a cooperative society even though the status mentioned was AOP. - AO directed to allow the deduction as claimed under section 80P(2)(a)(i) of the Income Tax Act.
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