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1 - 6 of 6 (1.22 seconds)Commissioner Of Income Tax, Belgaum vs Biluru Gurubasawa Pattina Sahakari ... on 6 July, 2015
04. CIT (A) was impressed by the contentions raised by assessee and relying
on the judgment of Hon'ble High Court of Karnataka in CIT v. Sri Biluru
Gurubasava Pattin Sahakari Sangh Niyamit, Bagalkot (supra), held that assessee
was entitled to exemption u/s.80P(2)(a)(i) of the Act.
Commissioner Of Income-Tax, Bombay ... vs Bombay State Co-Operative Bank Ltd. on 23 November, 1967
In fact similar view is taken by the Andhra
Pradesh High Court in the case of COMMISSIONER OF INCOME-
TAX III, HYDERABAD vs. ANDHRA PRADESH STATE
COOPERATIVE BANK LTD., reported in (2011) 200 TAXMAN 220/12
In that view of the matter, the order passed by the appellate authorities
denying the benefit of deduction of the aforesaid amount is
unsustainable in law. Accordingly it is hereby set aside. The
substantial question of law is answered in favour of the assessee and
against the revenue. Hence, we pass the following order.
Appeal is allowed."
Section 5 in The Banking Regulation Act, 1949 [Entire Act]
Section 56 in The Income Tax Act, 1961 [Entire Act]
Section 80J in The Income Tax Act, 1961 [Entire Act]
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