SAINI CO-OPERATIVE THARIFT AND CREDIT SOCIETY LTD,DELHI vs. ITO WARD-48(1), DELHI

ITA 4261/DEL/2025Status: DisposedITAT Delhi21 November 2025AY 2016-17Bench: Sh. Satbeer Singh Godara, Judicial Member & Sh. S. Rifaur Rahman (Accountant Member)10 pages
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What did the Tribunal hold?

The Tribunal held that interest income earned from investments of surplus funds in cooperative banks and interest on Income Tax refunds are eligible for deduction under Section 80P. The Tribunal followed its previous decisions and decisions of coordinate benches.

What were the facts?

The assessee, Saini Co-operative Thrift and Credit Society Ltd., appealed against the disallowance of deductions under Section 80P on interest income from parking surplus deposits in cooperative banks and interest on Income Tax refunds. The lower authorities held that these incomes were not eligible for deduction.

What were the issues?

Whether interest income from surplus deposits in cooperative banks and interest on Income Tax refunds are eligible for deduction under Section 80P of the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 80P

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Income Tax Appellate Tribunal, DELHI BENCH ‘A’, NEW DELHI

Before: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

Hearing: 18.11.2025Pronounced: 21.11.2025

Heard together (2 matters)

ITA No. 4260/Del/2025
ITA No. 4261/Del/2025

Read from the judgment's own cause title. This page is filed under one of them.

Per Satbeer Singh Godara, Judicial Member:

The instant batch of two appeals pertains to the single assessees herein namely, Saini Co-operative Thrift and Credit Society Ltd. All other relevant details thereof stand tabulated as under:

S l. ITA N o s. A.Y . Ap pe llant Re spon den t Orde r pa s se d ag a in s t Pro cee d ing s u / s N o. 1 426 0 /D e l/2 02 5 201 6 -17 Sa in i C o - ITO C IT (A ) -1 6, Ne w D e lh i 143 (3) op era t iv e In ca se N o.103 36 /2 01 8 -19 Thr ift an d D ate d : 07 .0 3. 201 9 C red it So c ie t y Lt d. 2 426 1 /D e l/2 02 5 201 6 -17 Sa in i C o - ITO C IT (A )/ N F

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