2014 (8) TMI 1086

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.... Appellant by: Mr. A. Sasi Kumar, JCIT Respondent by: Mr. Vijayaraghavan & Mr.Saroj Kumar Parida, Advocates Mr. P.Gurusamy, ITP O R D E R Per Challa Nagendra Prasad, JM: These two appeals are filed by the Revenue against the orders of the Commissioner of Income Tax (Appeals)-I, Madurai dated 23.12.2013 for the assessment years 2008 09 & 2010-11 respectively. The only grievance of the ....

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.... 3. Departmental Representative places reliance on the orders of the Assessing Officer. 4. Heard both sides. We have perused the order of the co ordinate Bench of this Tribunal in assessee's own case in ITA Nos.1088, 1091 & 1092/Mds/2012 dated 23.08.2012 and find that the claim of the assessee for deduction under section 80P(2)(a)(i) was allowed for the assessment years 2007-08 to 2009-10 obser....

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....a co-operative bank or could be considered as a co-operative society. No doubt, subsection (4) of section 80P introduced by Finance Act 2006 clearly takes a cooperative bank out of the purview of deduction available under 80P(2)(a)(i) of the Act. Thus, if the assessee is a cooperative bank, it would not be eligible for such deduction. Contention of the assessee is that in view of sections 22 and 2....

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....ive society in view of the provisions contained in Regional Rural Banks Act, 1976. If so, it would be eligible for deduction u/s 80P(2)(a)(i) of the Act. In view of the specific finding given by the Tribunal in the assessee's own case, respectfully following the decision of the co-ordinate Bench of this Tribunal, the ground of appeal raised by the assessee is allowed. In the circumstances, the app....