Assessee, a co-operative society, was engaged in providing credit facilities to its members.  It claimed deduction under section 80P(2)(a)(i). Assessing Officer held  that during a penalty proceeding initiated against assessee under section 271D for violation of provision of section 269SS in respect of cash deposits received by it in excess of Rs. 20,000 former Chartered Accountant of assessee submitted that assessee was a co-operative bank and was entitled to receive cash deposits in excess of Rs. 20,000 from its members.  Same was accepted by revenue and penalty under section 271D was deleted. On basis of same Assessing Officer held that assessee was co-operative bank and, accordingly, not entitled for deduction under section 80P(2)(a)(i) of the Act.  CIT (A) affirmed the order of the Assessing Officer. On appeal the Tribunal held that the  assessee had collected deposits only from its members and had provided credit facilities only to its members. It did not have any transaction with non-members. Chartered Accountant of assessee had misinterpreted activity carried on by assessee to be akin to banking business and submitted assessee to be a co-operative bank-In fact, after realising its mistake, assessee had even preferred rectification petition pointing out aforesaid mistake which was still pending disposal.  Assessee had also obtained a bona fide from said Chartered Accountant and placed it on record. Mere admission of Chartered Accountant alone would not determine status of assessee and same was to be determined based on charter documents i.e. objects and bye laws of assessee society. Accordingly the Tribunal held that   assessee was to be considered as a co-operative credit society and not co-operative bank and, accordingly, assessee was to be allowed deduction under section 80P(2)(a)(i).(AY.  2007-08, 2010-11, 2013-14, 2014-15)