BARDC BANK,BHATKAL vs. INCOME TAX OFFICER, WARD - 1, KARWAR

ITA 296/PAN/2024Status: DisposedITAT Panaji17 February 2026AY 2017-18Bench: SHRI PAVAN KUMAR GADALE (Judicial Member), SHRI G D PADMAHSHALI (Accountant Member)18 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal restored the issue of deduction for dealings with nominal/associate members to the Assessing Officer for verification. It directed the Assessing Officer to allow deduction for interest income from cooperative banks and to re-examine interest income from scheduled/other banks.

What were the facts?

The assessee, a cooperative credit society, claimed deduction under Section 80P(2)(a)(i) for dealings with associate/nominal members and under Section 80P(2)(d) for interest income. The Assessing Officer and CIT(A) denied these claims.

What were the issues?

Whether dealings with nominal/associate members and interest income from banks are eligible for deduction under Section 80P. Whether interest income from scheduled banks is attributable to the banking business.

Which sections of the Income-tax Act were involved?

Section 80P(2)(a)(i),Section 80P(2)(d)

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Income Tax Appellate Tribunal, PANAJI BENCH

Before: SHRI PAVAN KUMAR GADALE & SHRI G D PADMAHSHALI

Hearing: 10.02.2026

PER BENCH: These two appeals are filed by the assessee against the separate orders of the National Faceless Appeal Centre (NFAC), Delhi / (CIT(A) passed u/se 143(3) and u/sec250 of the Act.

2.

Since the issues involved in these appeals are common and identical, hence they are clubbed, heard and a consolidated order is passed. For the sake of convenience, we shall take up ITA No.296/PAN/2024 for A.Y.2017-18 as a lead case and facts narrated. The assessee has raised the BARDC Bank. grounds of appeal challenging the order of the CIT(A) sustaining the denial of claim of d

The order continues below.

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