DR HEDGEWAR NAGARI SAHAKARI PATSANSTHA MARYADIT,AURANGABAD vs. ITO WARD 193), AURANGABAD
आयकर अपीलीय अिधकरण ”ए” Ɋायपीठ पुणेमŐ।
IN THE INCOME TAX APPELLATE TRIBUNAL
PUNE BENCHES “A” :: PUNE
BEFORE MS.ASTHA CHANDRA, JUDICIAL MEMBER
AND DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER
आयकरअपीलसं. / ITA No.1874/PUN/2024
िनधाᭅरणवषᭅ / Assessment Year:2017-18
Dr. Hedgewar Nagari
SahakariPatsansthaMaryadit,
01, Fulewadi Road, Vajiapur,
Auranbabad,
Maharashtra – 423701. V s
The Income Tax Officer,
Ward-19(3), Aurangabad.
PAN: AAAAD1087D
Appellant/ Assessee
Respondent / Revenue
Assessee by Shri Shubham N Rathi – AR
Revenue by Shri Ramnath P Murkunde,IRS – DR
Date of hearing
18/03/2025
Date of pronouncement 21/03/2025
आदेश/ ORDER
PER DR. DIPAK P. RIPOTE, AM:
Thisappeal filed by the assessee is against the order of ld.Commissioner of Income Tax(Appeals)/NFACpassed under section 250of the Income Tax Act, 1961; dated 19.06.2024for
Assessment Year2017-18. The assessee has raised the following grounds of appeal :
“1. DISALLOWANCE OF DEDUCTION U/S 80P₹ 82,75,864/-
ITA No.1874/PUN/2024 [A]
2
11 In the facts and circumstances of the case and in law, the Learned
Commissioner of Income Tax ['the Ld. CIT(A)'] has grossly erred in confirming the disallowance of deduction u/s 80P(2)(a)(i) of the Act of ₹ 82,75,864/-
2 The Ld. CIT(A) erred in confirming the disallowance merely on the ground that interest on loans and advances is also received from the nominal members. Such disallowance being patently illegal, bad in law, arbitrary, perverse and devoid of merits.
3 In the facts of the case and in law, it is requested before Your Honour to allow the deduction u/s 80P(2)(a)(i) of the Act.
2 LEAVE
The Appellant craves leave to add, alter, amend, delete or substitute any of the above grounds of appeal.”
Submission of ld.AR :
Ld.AR submitted that assessee is a cooperative society registered under Maharashtra Cooperative Societies Act. Assessee is eligible for deduction u/s 80P. Assessee do not have any Banking License issued by RBI hence case law relied by AO are not applicable. Ld.AR filed a paper book. 2.1 Assessee has relied on the following case laws : Mavilayi Service Co-operative Bank Ltd. v. CIT ((2021) 123 taxmann.com 161 (SC)]
PCIT v. Quepem Urban Co-operative Credit Society Ltd. [(2021) 128
taxmann.com 41 (Bombay))
Nashik Road NagarıSahkariPatsanstha Limited v ITO [ITA No.
1700/PUN/2017, Order dated 27.12.2021]
ITA No.1874/PUN/2024 [A]
3
Yuvashakti Nagari Sahkari Path Sanstha Maryadit Rendal v. ITO,
Ward-2,
Ichalkaranji
[ITA
No.
476/PUN/2023,
Order dated
08.06.2023]
Sai Prerana Gramin BigarshetiSahakari Pat SanshtaMaryadit v. ITO ward 10(5), Pune [ITA No. 1431/PUN/2018, Order dated 03.07.2019]
The Vainganga Nagari Sahakari Pat Sanstha Ltd v. ITO - Ward
Bhandara [ITA No. 49/NAG/2020, Order dated 21.06.2021]
(2) Notwithstanding anything contained in sub-section (1), a society may make a loan to a depositor on the security of his deposit
(3) Granting of loans to members or to non-members under sub-section (2) and recovery thereof shall be in the manner as may be specified by the