In the result, appeal of the assessee i
Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.392&393/Ctk/2018 (नििाारण वषा / Assessment Year : 2014 – 2015 & 2015-2016) M/S Orissa State Co-Operative Vs. Ito Wardd-4(1), Handicrafts Corporation Limited Bhubaneswar D-2/3, Industrial Estate, Rasulgarh, Bhubaneswar स्थायी ऱेखा सं./Pan No. : Aaaao 0096 K (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : None राजस्व की ओर से /Revenue By : Shri M.K.Goutam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/02/2020 घोषणा की तारीख/Date Of Pronouncement : 05/06/2020 आदेश / O R D E R Per L.P.Sahu, Am :
80P". Further it was noticed that the surplus funds were parked in the Odisha State Cooperative Bank Limited. He concluded that the Odisha State Cooperative Bank Limited is a urban commercial bank and does not fall under the purview of the cooperative society as referred in Section 80(P)(2)(d) of the Act. Therefore, the AO disallowed the deduction