THE ITO, TIRUR vs. M/S. NANNAMBRA SERVICE CO-OP BANK LTD, MALAPPURAM
What did the Tribunal hold?
The Tribunal held that the assessee, being registered as a primary agricultural credit society under the Kerala Co-operative Societies Act, is entitled to the deduction under Section 80P(2). The Supreme Court judgment relied upon by the Revenue was deemed not applicable.
What were the facts?
The assessee, a primary agricultural credit society, was denied deduction under Section 80P(2) by the Assessing Officer who contended that it was engaged in banking with negligible agricultural loans. The CIT(A) allowed the deduction, following a Kerala High Court judgment.
What were the issues?
Whether a registered primary agricultural credit society is eligible for deduction under Section 80P(2) irrespective of the extent of its agricultural lending activities, and whether the Supreme Court's decision in Citizen Service Co-operative Bank Ltd. is applicable.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Cases cited in this judgment(5)Show listHide list
Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.
- Co-operative Bank Ltd. v. CIT631 citing384 ITR 490 · 2016 · HC
- Citizen Co-operative Society Ltd. v. ACIT499 citing397 ITR 1 · 2017 · SC
- Prakash Nath Khanna v. CIT111 citing266 ITR 1 · 2004 · SC · Read judgment
- Sabarkhanta Zilla Kharid Vechan Sangh Ltd. v. ClT98 citing203 ITR 1027 · 1993 · SC
- Perithalmanna Service Co-operative Bank v. ITO71 citing363 ITR 268 · 2014 · HC
Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Per GEORGE GEORGE K. JUDICIAL MEMBER:
These appeals at the instance of the Department and the Cross Objections
filed by the assessee are directed against the consolidated order of the CIT(A)
dated 27/06/2016. The relevant assessment years are 2009-10 to 2011-12. 2. Since common
The order continues below.
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Similar judgments
Other orders that rely on the same authority or decide the same section.
- The ITO, Ward-2, Malappuram vs M/S.Vattikattiri Service Co-Op Bank Ltd…Cochin10 Jan 2018Allowed
Also relies on Sabarkhanta Zilla Kharid Vechan Sangh Ltd. v. ClT and 2 other authorities
The Tribunal held that the co-operative societies, being registered as primary agricultural credit societies under the Kerala Co-operative Societies Act, are entitled to the benefit of Section 80P deduction. This decisio...
- The ITO, Ward-3, Kannur vs The Peralassery Service Co-Op Bank Ltd…Cochin9 Jan 2018Allowed
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The Tribunal upheld the CIT(A)'s decision, following the jurisdictional High Court's ruling that primary agricultural credit societies registered under the Kerala Co-operative Societies Act are entitled to Section 80P de...
- M/S.Peroorkada Service Co-Op Bank Ltd… vs The ITO, WD-2(1), TrivandrumCochin26 Jun 2019Partly Allowed
Also relies on Sabarkhanta Zilla Kharid Vechan Sangh Ltd. v. ClT and 2 other authorities
The Tribunal held that the Assessing Officer has a duty to make proper inquiries and cannot remain passive when claims warrant further investigation. The CIT was within his powers to treat an order as erroneous if furthe...
- The ITO, WD-2(3), Trivandrum vs Anad Farmers Service Co-Op Bank Ltd…Cochin20 Jun 2019Remanded
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The Tribunal held that the Assessing Officer must conduct an inquiry into the factual activities of the assessee society to determine its eligibility for deduction under Section 80P, and is not solely bound by the regist...
- The ITO, WD-2(2), Trivandrum vs M/S.Nellimood Service Co-Op Bank Ltd…Cochin18 Jun 2019Partly Allowed
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The Tribunal held that the eligibility for deduction under Section 80P requires an examination of the assessee's actual activities, not just its registration. The issue of deduction on interest income from other banks wa...
More judgments on Section 80P
- Shree Bandharda Seva Sahkari Mandli Ltd… vs Income Tax Officer Ward -4, JunagadhITA 881/RJT/2025[2019-20]Status: Disposed19 Oct 2026AY 2019-20
- Duddukuru Primary Agricultural Cooperative… vs ITO, Ward - 1, TadepalligudemITA 258/VIZ/2026[2015-16]Status: Disposed16 Oct 2026AY 2015-16
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- Shri Na vs Ari Khedut Sahkari Society Ltd…ITA 362/SRT/2025[2016-17]Status: Disposed9 Oct 2026AY 2016-17
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