08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income Tax Officer

3 SCC 223Reported decision2010#3011 most cited

What is 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income Tax Officer authority for?

Interest income earned by a co-operative society from its surplus funds invested in banks is taxable under the head 'Income from Other Sources' and is not eligible for deduction under Section 80P(2)(a)(i). Such income is not derived from the primary business activity of the society.

39

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2011 to 2025.

Also referred to as

Totgar's Co-operative Sale Society Ltd. v. ITO · Section 56 · Section 80P(2)(a)(i) · interest income · co-operative society · income from other sources · not deductible · surplus funds

Sections most often in play

Section 143(3)Section 80P(2)(a)(i)Section 80P(2)(d)Section 142(1)Section 254Section 56Section 28Section 80P(1)

Issues it is cited on

section 80p(2)(a)(iii)section 194a(3)(v)mutuality principlesection 194a(3)section 71doctrine of mutualitysection 80(p)(2)(a)section 58section 80p(2)(i)section 80p(2)(c)section 80p(4)section 80p(2)(a)

Judgments citing 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income Tax Officer

Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Latur vs. Income Tax Officer- Ward 1 -Latur, Latur

In the result, the appeal of the assessee is allowed

ITA 671/PUN/2025[2020-21]Status: DisposedITAT Pune09 Sept 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.670 & 671/Pun/2025 निर्धारण वर्ष / Assessment Years : 2018-19 & 2020-21 Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Bidar Road, Near Mahatma Gandhi Udyan, Udgir, Latur-413517 Pan: Aabam7649H अपीलार्थी / Appellant Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Ito, Ward-1, Latur Vs. प्रत्यर्थी / Respondent Miss Sailee Gujarathi (Virtual) Shri Ramnath P. Murkunde 02-07-2025 09-09-2025 आदेश / Order Per Astha Chandra, Jm : The Above Two Appeals Filed By The Assessee Are Directed Against The Two Separate Orders Both Dated 10.01.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac"] Pertaining To

For Appellant: Department byFor Respondent: Date of hearing
Section 142(1)Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…Court decision in the case of the present respondent assessee, Totgar's Co-operative Sa/e Society Limited itself rendered on )Bth February 2010, in Totgar's Co-operative Sale Society Limited v. ITO, reported in MANU/SC/0095/2010: (2010) 322 ITR 283 SC: (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P of the Act, is not applicabl…

Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Latur vs. Income Tax Officer- Ward 1 -Latur, Latur

ITA 670/PUN/2025[2018-19]Status: DisposedITAT Pune09 Sept 2025AY 2018-19

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Miss Sailee Gujarathi (Virtual)For Respondent: Shri Ramnath P. Murkunde
Section 142(1)Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…e Court decision in the case of the present respondent assessee, Totgar Co-operative Sa/e Society Limited itself rendered on )Bth February 2010, in Totgar's Co-operative Sale Society Limited v. ITO, reported in MANU/SC/0095/2010: (2010) 322 ITR 283 SC: (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991- 1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P of the Act, is not applicabl…

The Jyoti Co-Operative Non Agricultural Thrift & Credit Society Ltd., Sirmour vs. ITO, Ward, Nahan

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 162/CHANDI/2023[2013-14]Status: DisposedITAT Chandigarh12 Feb 2025AY 2013-14

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं . / ITA No.160, 161 & 162/ Chd/2023 निर्धारण वर्ष / Assessment Year : 2017-18, 2012-13 & 2013-14 The Jyoti Co-operative Non Agricultural Thrift & Credit Society Ltd. Sirmour, Solan, HP-173025 स्थायी लेखा सं. / PAN NO: AAABT1453G अपीलार्थी/Appellant बनाम The ITO H.P Ward-Nahan, Sirmour प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, Advocate राजस्व की ओर से / Revenue by : Dr. Ranjeet K

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR
Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…s falls in the category of income from other sources u/s. 56 and deduction u/s. 80P(2)(a)(i) of the Act is not allowed on such interest income. The Hon'ble Punjab & Haryana High Court held that judgment in Totgar's Co-operative Sale Society Ltd. v. ITO [2010] 3 SCC 223 cannot be restricted to cases where the amount invested was the sale proceeds of the produce of an assessee's members marketed by the assessee; that the judgment applies to funds not immediately required for business purposes; that an assessee such as the respondent may have funds from other sources which are not immediately required for business p…

The Jyoti Co-Operative Non Agricultural Thrift & Credit Society Ltd., Sirmour vs. ITO, Ward, Nahan

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 161/CHANDI/2023[2012-13]Status: DisposedITAT Chandigarh12 Feb 2025AY 2012-13

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR
Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…s falls in the category of income from other sources u/s. 56 and deduction u/s. 80P(2)(a)(i) of the Act is not allowed on such interest income. The Hon'ble Punjab & Haryana High Court held that judgment in Totgar's Co-operative Sale Society Ltd. v. ITO [2010] 3 SCC 223 cannot be restricted to cases where the amount invested was the sale proceeds of the produce of an assessee's members marketed by the assessee; that the judgment applies to funds not immediately required for business purposes; that an assessee such as the respondent may have funds from other sources which are not immediately required for business p…

The Jyoti Co-Operative Non Agricultural Thrift & Credit Society Ltd., Sirmour vs. ITO, Ward, Nahan

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 160/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh12 Feb 2025AY 2017-18
For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR
Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…s falls in the category of income from other sources u/s. 56 and deduction u/s. 80P(2)(a)(i) of the Act is not allowed on such interest income. The Hon'ble Punjab & Haryana High Court held that judgment in Totgar's Co-operative Sale Society Ltd. v. ITO [2010] 3 SCC 223 cannot be restricted to cases where the amount invested was the sale proceeds of the produce of an assessee's members marketed by the assessee; that the judgment applies to funds not immediately required for business purposes; that an assessee such as the respondent may have funds from other sources which are not immediately required for business p…

R&De (Engrs) Employees Co-Op. Credit Society, Pune vs. ITO, Ward 7(3), Pune

In the result, the appeal of the assessee is allowed

ITA 762/PUN/2024[2021-22]Status: DisposedITAT Pune11 Sept 2024AY 2021-22

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri A.V. IyerFor Respondent: Shri Sourabh Nayak
Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…preme Court decision in the case of the present respondent assessee, Tolgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income-tax Officer, reported in (2010) 322 ITR 283 SC: (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under section 56 of the Act and was not 100% deductible from the Gross Total Income under section 80P(2)(a)(i) of the Act, is not a…

Sadhana Sahakari Patpedhi Limited, Palghar vs. CIT(A), NFAC, Delhi

ITA 55/MUM/2024[2017-18]Status: DisposedITAT Mumbai23 Jul 2024AY 2017-18

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Unmesh J NarvekarFor Respondent: ShriDr. Kishore Dhule - CIT DR
Section 143(3)Section 250Section 80PSection 80P(2)(C)Section 80P(2)(a)Section 80P(2)(d)

…decision in the case of the present respondent assessee, Totgar Co-operative Sale Society L imited itself rendered on 08th February 2010, in Tot- gar's Co-operative Sale Soci ety Limited v. ITO , reported in MANU/SC/0095/2010: (2010) 322 ITR 283 SC : ( 2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total In come under Section 80P of the Act, is not applicabl…

Mahaveera Credit Co-Operative Society Limited, Mangalore vs. Income Tax Officer, Ward-1(1), Mangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 301/BANG/2024[2020-21]Status: DisposedITAT Bangalore08 Jul 2024AY 2020-21

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year : 2020-21

For Appellant: Ms. Roopa Arun, AdvocateFor Respondent: Standing Counsel for Department
Section 250Section 58Section 80PSection 80P(2)(a)Section 80P(2)(d)

…the said income qualifies for deduction u/s 80P(d) as against Sec 80P(2)(a)(i). Hence, the impugned order is liable to be set aside. 8. The Learned CIT (A) has misconstrued the ruling of the Apex Court in Totgars Co-operative Societies Ltd reported in (2010) 3 SCC 223 in passing the impugned order and hence the same is liable to be set aside. 9. The Learned CIT (A) has also misconstrued the various rulings mentioned in the impugned order vis-à-vis their applicability to facts of the present case and has erroneously passed the impugned order and hence the same is liable to be set aside. 10. The Appellant craves l…

Income Tax Officer, Ward 1, Udupi vs. Brahmavara Vyavasaya Seva, Brahmavara

ITA 668/BANG/2024[2020-21]Status: DisposedITAT Bangalore16 May 2024AY 2020-21

Bench: Shri George George K & Shri Waseem Ahmed

For Appellant: Ms. Akshaya K. S, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru
Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…e Court decision in the case of the present respondent assessee, Totgar's Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co- operative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

Incometax Officer, Ward 1, Udupi vs. Brahmavara Vyavasaya Seva, Brahmavara

ITA 667/BANG/2024[2018-19]Status: DisposedITAT Bangalore16 May 2024AY 2018-19

Bench: Shri George George K & Shri Waseem Ahmed

For Appellant: Ms. Akshaya K. S, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru
Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…e Court decision in the case of the present respondent assessee, Totgar's Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co- operative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

Income-Tax Officer, Ward-1, Udupi vs. Brahmavara Vyavayasaya Seva, Brahmavara

ITA 656/BANG/2024[2017-18]Status: DisposedITAT Bangalore16 May 2024AY 2017-18
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…e Court decision in the case of the present respondent assessee, Totgar's Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co- operative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

M/S. the Bhavasara Kshatriya Co-Operative Society Limited, Mysuru vs. Income Tax Officer, Ward-2(1), Mysuru

ITA 981/BANG/2023[2017-18]Status: DisposedITAT Bangalore03 Jan 2024AY 2017-18

Bench: Shri Chandra Poojari & Ms. Madhumita Roym/S Bhavasara Kshatriya Co- Operative Society Ltd., 279, Benkinawab Street, Mandi Mohalla, Mysureu-570 001. Pan – Aadat 2458 F Appelant Assessee By : Shri V Srinivasan, Advocate Revenue By : Shri Ganesh R Gale, Standing Counsel For Dept. Date Of Hearing : 03.01.2024 Date Of Pronouncement: 03.01.2024

For Appellant: Shri V Srinivasan, AdvocateFor Respondent: Shri Ganesh R Gale, Standing Counsel for Dept
Section 143Section 234Section 250Section 80P

…preme Court decision in the case of the present respondent assessee, Totgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Cooperative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

Sangam Co-Op Credit Society, Bagalkot vs. Income-Tax Officer Ward-2, Bagalkot

In the result, both the appeals by the assessee are partly allowed for statistical purposes

ITA 69/BANG/2023[2020-21]Status: DisposedITAT Bangalore12 May 2023AY 2020-21
For Appellant: Shri Ashok Mudnur, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…reme Court decision in the case of the present respondent assessee, Totgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income-tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under section 56 of the Act and was not 100% deductible from the Gross Total Income under section 80P(2)(a)(i) of the Act, is not a…

Sangam Co-Op Credit Society, Bagalkot vs. Income-Tax Officer Ward 1& Tps, Bagalkot

In the result, both the appeals by the assessee are partly allowed for statistical purposes

ITA 68/BANG/2023[2018-19]Status: DisposedITAT Bangalore12 May 2023AY 2018-19
For Appellant: Shri Ashok Mudnur, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…reme Court decision in the case of the present respondent assessee, Totgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income-tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under section 56 of the Act and was not 100% deductible from the Gross Total Income under section 80P(2)(a)(i) of the Act, is not a…

M/S. Prathamika Krushi Pattina Sahakara Niyamita, Hosapete vs. Income Tax Officer, Ward-2, Ballari

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 23/BANG/2023[2017-18]Status: DisposedITAT Bangalore14 Feb 2023AY 2017-18

Bench: Shri Laxmi Prasad Sahuprathamika Krishi Pattina Vs The Income Tax Officer Sahakara Sangha Niymit Ward - 2 No. 350, Ward No. 15, Hospet 583201 Amaravathi Village, Hospet Tq. Ballari - 583201 Pan – Aaajp0326N (Appellant) (Respondent) Assessee By: Shri Siva Prasad Reddy, Irs (Retd) Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 13.02.2023 Date Of Pronouncement: 14.02.2023 O R D E R Per: Laxmi Prasad Sahu, A.M. This Is An Appeal Filed By The Assessee Against The Order Passed By The Learned Cit(A)/Nfac, Delhi In Appeal Din & Order No. Itba/Nfac/S/ 250//2022-23/1047496227(1) Dated 18.11.2022 For Ay 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “1. The Impugned Assessment Order Made U/S 143(3) Of The Act Dated, 25-11-2019, Is Arbitrary & Opposed To The Facts Of The Case & The Principles Of Natural Justice & Therefore, The Same Is Liable To Be Vacated As Void. 2. The Learned Cit(A) Failed To Appreciate: (I) That The Interest Income Accruing From The Investments Made In Statutory Compliance Of The Provisions Of The State Co-Operative Societies Act, 1959 Is Eligible For The Deduction As Business Income U/S 80P(2)(A)(I) Of The Act.

For Appellant: Shri Siva Prasad Reddy, IRS (Retd)For Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 143(3)Section 234ASection 56Section 57Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…reme Court decision in the case of the present respondent assessee, Totgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

M/S. Bharathi Co-Operative Credit Society Ltd, Bengaluru vs. Income Tax Officer, Ward-7(2)(3), Bengaluru

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 793/BANG/2022[2015-16]Status: HeardITAT Bangalore28 Nov 2022AY 2015-16

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

For Appellant: Sri.Narendra Sharma, AdvocateFor Respondent: Smt.Prayadarshini Baseganni, Addl.CIT-DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM ITA No.793/Bang/2022 : Asst.Year 2015-2016 M/s.The Bharathi Co-operative The Income Tax Officer Credit Society, #1718, 3rd Block Ward 7(2)(1) v. 9th Main Road, Jayanagar Bangalore. Bangalore – 560 011. PAN : AAALT0604R. (Appellant) (Respondent) Appellant by : Sri.Narendra Sharma, Advocate Respondent by : Smt.Prayadarshini Baseganni, Addl.CIT-DR Date of Pronouncement : 28.11.2022 Date of Hearing : 28.11.2022 O R D E R Per George George K, JM This appeal at the instance of the assessee is dir…

M/S. Shri Mahishasuramardini Urban Co-Operative Credit Society Limited, Haveri vs. Income Tax Officer, Wrd-1, Haveri

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 566/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Aug 2022AY 2017-18

Bench: Shri Chandra Poojari

For Appellant: Sri.Vishal S Rao, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel
Section 234ASection 234BSection 69ASection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “SMC-C”, BANGALORE Before Shri Chandra Poojari, Accountant Member ITA No.566/Bang/2022 : Asst.Year 2017-2018 Sri Mahishasuramardini Urban The Income Tax Officer Co-operative Credit Society Ltd. Ward 1 v. Haveri. Dru Joshi Building Krubageri Road, Ranebennur Haveri – 581 115. PAN : AABAS1467R. (Appellant) (Respondent) Appellant by : Sri.Vishal S Rao, CA Respondent by : Sri.Ganesh R.Ghale, Standing Counsel Date of Pronouncement : 16.08.2022 Date of Hearing : 16.08.2022 O R D E R This appeal filed by the assessee is directed against the order of the CIT(A) dat…

M/S Nagashettikoppa Chibbalageri Vyavasaya Seva Sahakari Sangha Niyamit, Uttara Kannada vs. Income Tax Officer, Ward-2(3), Hubballi

In the result, appeal of the assessee is treated as partly allowed for statistical purpose

ITA 53/BANG/2022[2017-18]Status: DisposedITAT Bangalore12 May 2022AY 2017-18

Bench: Shri Chandra Poojariassessment Year : 2017-18

For Appellant: Sri Vishal S Rao, A.RFor Respondent: Shri Ganesh R. Ghale, Standing counsel for dept
Section 143(2)Section 234BSection 80P(2)(a)

…reme Court decision in the case of the present respondent assessee, Totgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

Krishnarajapet Taluk Agri Pro Co Op Marketing Society, Mandya vs. Principal Commissioner of Income Tax, Mysore

In the result, appeal of the assessee is treated as partly allowed for statistical purpose

ITA 514/BANG/2021[2015-16]Status: DisposedITAT Bangalore09 Feb 2022AY 2015-16

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2015-16 M/S. Krishnarajapet Taluk Agri Pro Co-Op Vs. Pr. Commissioner Of Income Tax, Marketing Society Ltd., Mysore. K. R. Pet, K. R. Pet Taluk, Mandya 571 426. Pan : Aaaak 4566 E Appellant Respondent Assessee By : Shri. Shankar Gowda H, Fca Revenue By : Shri. Sankar Ganesh K, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 08.02.2022 Date Of Pronouncement : 08.02.2022 O R D E R Per N. V. Vasudevan: V. Vasudevan

For Appellant: Shri. Shankar Gowda H, FCAFor Respondent: Shri. Sankar Ganesh K, JCIT(DR)(ITAT), Bengaluru
Section 143(3)Section 263Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(2)(i)Section 80P(4)

…reme Court decision in the case of the present respondent assessee, Totgar Co-operative Sale Society Limited itself rendered on 08th February 2010, in Totgar's Co-operative Sale Society Limited v. Income Tax Officer, reported in (2010) 322 ITR 283 SC : (2010) 3 SCC 223 for the preceding years, namely Assessment Years 1991-1992 to 1999-2000 (except Assessment Year 1995-1996) holding that such interest income earned by the assessee was taxable under the head 'Income from Other Sources' under Section 56 of the Act and was not 100% deductible from the Gross Total Income under Section 80P(2)(a)(i) of the Act, is not a…

Hotel Owner'S Credit Co-Operative Society, Mysuru vs. Income Tax Officer, Ward-1(1), Mysuru

In the result, the appeal filed by the assessee is partly allowed

ITA 368/BANG/2021[2015-16]Status: DisposedITAT Bangalore27 Jan 2022AY 2015-16

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

For Appellant: Sri.Rampriya Das CAFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 143(3)Section 263Section 57(2)Section 80Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri George George K, JM & Shri B.R.Baskaran, AM ITA No.368/Bang/2021 : Asst.Year 2015-2016 The Secretary, Hotel Owner’s The Income Tax Officer Ward 1(1), Mysuru. Credit Co-operative Society Ltd. v. No.2824, 1st Main, 8th Cross, Jayanagar, Mysuru – 570 014. PAN : AAAAH1132K. (Appellant) (Respondent) Appellant by : Sri.Rampriya Das CA Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 27.01.2022 Date of Hearing : 06.01.2022 O R D E R Per George George K, JM : This appeal at the instance of the assessee is directed against…