DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, AJMER, CENTRAL REVENUE BUILDING, JAIPUR ROAD, AJMER vs. AJMER ZILA DUGDH UTPADAK SAHKARI SANGH LIMITED, OPP. HMT, BEAWAR ROAD, AJMER

ITA 1586/JPR/2025Status: DisposedITAT Jaipur09 September 2026AY 2017-187 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that a cooperative bank, despite carrying on banking business, retains its character as a cooperative society for the purpose of Section 80P(2)(d). Section 80P(4) does not deny deduction to a society investing in a cooperative bank.

What were the facts?

The assessee, a cooperative society, claimed deduction under Section 80P(2)(d) on interest income earned from a cooperative bank. The Assessing Officer disallowed this deduction, citing Section 80P(4). The CIT(A) allowed the deduction.

What were the issues?

Whether interest income earned by a cooperative society from a cooperative bank is eligible for deduction under Section 80P(2)(d), considering Section 80P(4).

Which sections of the Income-tax Act were involved?

Section 80P,Section 80P(2)(d),Section 80P(4)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH, JAIPUR

Before: Shri Kuldip Singh & Shri Prakash

PER : PRAKASH, ACCOUNTANT MEMBER:-

1.

This appeal by the Revenue is directed against the order of the learned Commissioner of Income Tax (Appeals) [hereinafter referred to as “the learned CIT(A)”] dated 10.09.2025 arising out of the assessment order dated 26.11.2019 passed by the Assessing Officer (hereinafter referred to as “the AO”) under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) for the assessment year 2017-18. 2. The grounds of appeal raised by the Revenue before us in the memorandum of appeal in Form No. 36 read as under:

I.T.A No. 1586/JPR/2025 Page No 2 Ajmer Zila Dudgh Utpadak Sahkari Sangh Limited

1.

Whether

The order continues below.

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