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

M/S. Uppinangady Co-Operative Agricultural Society Limited, Puttur vs. Income Tax Officer, Ward - 1, Puttur

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

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

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Shri B.R.Baskaran, AM ITA No.1207/Bang/2019 : Asst.Year 2016-2017 M/s.Uppinangady Co-operative The Income Tax Officer Agricultural Society Ltd. Ward 1 v. Puttur Taluk Puttur. Puttur – 574 241. PAN : AAAAU7375D. (Appellant) (Respondent) Appellant by : Sri.V.Srinivasan, Advocate Respondent by : Sri.Sankar Ganesh K, JCIT-DR Date of Pronouncement : 10.12.2021 Date of Hearing : 09.12.2021 O R D E R Per George George K, JM This appeal at the instance of the assessee is directed against CIT(A)’s order dated 26.03.201…

Income Tax Officer Ward-5(2)(3), Bangalore vs. M/S the Karnataka State Co-Operative Housing Federation Limited, Bangalore

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

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

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Shri B.R.Baskaran, AM ITA No.2874/Bang/2018 : Asst.Year 2015-2016 The Income Tax Officer M/s.The Karnataka State Co- Ward 5(2)(3) operative Housing Federation v. Bengaluru. Limited, No.3, Diwan Madhava Road, Basavangudi Bengaluru – 560 004. PAN : AAAAT0299F. (Appellant) (Respondent) Appellant by : Sri.Sankar Ganesh K, JCIT-DR Respondent by : Sri.Sandeep, CA & Sri.Vignesh, CA Date of Pronouncement : 10.12.2021 Date of Hearing : 09.12.2021 O R D E R Per George George K, JM: This appeal at the instance of the Dep…

M/S. Gnanaganga Gruha Nirmana Sahakara Sanga Niyamita, Mysore vs. The Principal Commissioner of Income Tax, Mysore

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

Bench: Shri Chandra Poojari, Am & Smt.Beena Pillai, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri Chandra Poojari, AM & Smt.Beena Pillai, JM ITA No.577/Bang/2020 : Asst.Year 2015-2016 ITA No.578/Bang/2020 : Asst.Year 2016-2017 M/s.Gnanaganga Gruha Nirmana The Principal Commissioner of Sahakara Sanga Niyamita, Income-tax, Mysore. v. No.365, 10th Main J.P.Nagar, `C’ Block Mysore – 570 008. PAN : AAAAG2275L. (Appellant) (Respondent) Appellant by : Sri.Tata Krishna, Advocate Respondent by : Sri.Vilas V.Shinde, CIT-DR Date of Pronouncement : 09.12.2021 Date of Hearing : 09.12.2021 O R D E R Per Chandra Poojari, AM : These appeals at…

M/S. Gnanaganga Gruha Nirmana Sahakara Sanga Niyamita, Mysore vs. The Principal Commissioner of Income Tax, Mysore

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

Bench: Shri Chandra Poojari, Am & Smt.Beena Pillai, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri Chandra Poojari, AM & Smt.Beena Pillai, JM ITA No.577/Bang/2020 : Asst.Year 2015-2016 ITA No.578/Bang/2020 : Asst.Year 2016-2017 M/s.Gnanaganga Gruha Nirmana The Principal Commissioner of Sahakara Sanga Niyamita, Income-tax, Mysore. v. No.365, 10th Main J.P.Nagar, `C’ Block Mysore – 570 008. PAN : AAAAG2275L. (Appellant) (Respondent) Appellant by : Sri.Tata Krishna, Advocate Respondent by : Sri.Vilas V.Shinde, CIT-DR Date of Pronouncement : 09.12.2021 Date of Hearing : 09.12.2021 O R D E R Per Chandra Poojari, AM : These appeals at…

M/S. Prathamika Krushi Pattina Sahakara Niyamita, Hagaribommanahalli vs. The Principal Commissioner of Income Tax, Kalaburgi

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.1725/Bang/2019 : Asst.Year 2014-2015 M/s.Prathamika Krushi Pattina The Principal Commissioner of Sahakari Niyamita Income-tax, Kalburgi. v. Harihara Hospet Road Old Town, Near Court Hagaribommanahalli-582 212 PAN : AAAAR8959G. (Appellant) (Respondent) Appellant by : Sri.Siva Prasad Reddy, ITP Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 22.11.2021 Date of Hearing : 17.11.2021 O R D E R Per George George K, JM: This appeal at the instance of the assessee is d…

M/S. Prathamika Krushi Pattina Sahakara Niyamita, Hosapete vs. The Principal Commissioner of Income Tax, Kalaburgi

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.1724/Bang/2019 : Asst.Year 2014-2015 M/s.Prathamika Krushi Pattina The Principal Commissioner of Sahakari Niyamita Income-tax, Kalburgi. v. 29th Ward, Amaravati Post Hosapete – 583 201. PAN : AAAJP0326N. (Appellant) (Respondent) Appellant by : Sri.Siva Prasad Reddy, ITP Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 22.11.2021 Date of Hearing : 17.11.2021 O R D E R Per George George K, JM: This appeal at the instance of the assessee is directed against CIT’s o…

M/S. Manjunatheshwara Credit Co-Operative Society Limited, Bengaluru vs. Income Tax Officer, Ward- 6(2)(2), Bengaluru

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

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

…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…

Nikhara Souharda Credit Co-Operative Limited, Bengaluru vs. The Income Tax Officer, Ward- 5(2)(5), Bengaluru

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

Bench: Shri George George K

…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…

Nikhara Souharda Credit Co-Operative Limited, Bengaluru vs. The Income Tax Officer, Ward- 5(2)(5), Bengaluru

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

Bench: Shri George George K

…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…

M/S. Aletty Co-Operative Agricultural Bank Limited, Sullia vs. Income Tax Officer, Ward-1, Bangalore

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2016-17 M/S. Aletty Co-Operative Agricultural Bank Ltd., Vs. The Income Tax Officer, Aletty Post & Village, Ward -1, Sullia – 574 247. Puttur. Pan : Aaaaa 4243 J Appellant Respondent Appellant By : Shri. Ravish Rao, Ca Respondent By : Shri. Elamurugu G, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 30.08.2021 Date Of Pronouncement : 31.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Of Cit(A), Mangaluru, Dated 06.01.2020, In Relation To Ay 2016-17. 2. The Assessee Is A Primary Agricultural Credit Co-Operative Society Registered Under The Karnataka State Co-Operative Societies Act, 1959. It Accepts Deposits From Its Members & Provides Credit Facilities To Its Members. In The Return Of Income Filed For Assessment Year 2015-16, The Assessee Claimed Deduction Under Section 80P Of The Income Tax Act, 1961(Act) Of A Sum Of Rs.68,85,589/-. Out Of The Aforesaid Sum That Was Claimed As Deduction U/S.80P Of The Act, A Sum Of Rs.43,49,141 Was Interest On Deposits Made With South Canara District Co-Operative Bank(Scdcc Bank) & A Sum Of Rs.5,72,959 Was Dividend On Investments Made In Scdcc Bank. The Deduction On The Aforesaid Two Page 2 Of 14 Sums Were Claimed By The Assessee U/S.80P(2)(A)(D) Of The Act. The Remaining Sum Was Claimed As Deduction U/S.80P(2)(A) (I) Of The Act, Being Income Earned From Providing Credit Facility To Its Members.

…eme 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. Potters Cottage Industrial Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward- 1, Puttur

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…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. Jyothi Pattin Souhard Sahakari Niyamit, Gadag vs. Principal Commissioner of Income Tax, Hubballi

In the result, appeal of the Assessee is dismissed

…eme 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…

Sri Vasavamba Co-Operative Society Limited, Hunsur vs. The Principal Commissioner of Income Tax, Mysore

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16 M/S. Vasavamba Co-Operative Society Ltd., Vs. The Principal Commissioner Of Income Tax, Ganesh Temple, Street Hunsur, Mysuru. Mysuru – 571 105, Karnataka. Pan : Aalas 6055 P Appellant Respondent Appellant By : Shri. V. Srinivasan, Advocate Respondent By : Ms. Neera Malhotra, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 10.08.2021 Date Of Pronouncement : 13.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 28.04.2020 Of Pr.Cit, Mysuru, Passed Under Section 263 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’), In Relation To Assessment Year 2015-16. 2. The Assessee Is A Co-Operative Society Registered Under The Karnataka State Co-Operative Societies Act, 1959. It Accepts Deposits From Its Members & Provides Credit Facilities To Its Members. The Assessee Also Derives Income By Distributing Food Grains On Behalf Of The Karnataka State Food & Civil Supplies Corporation Ltd. In The Return Of Income Filed For Assessment Year 2015-16, The Asssessee Claimed Deduction Under Section 80P(2)(A)(I) Of The Act, 1961 Of A Sum Of Rs.10,61,494/- As Income From The Business Of Providing Credit Facilities To Its Members. The Ao Page 2 Of 15 Passed An Order Of Assessment Under Section 143(3) Of The Act Dated 31.07.2017 Accepting The Claim Of The Assessee.

…eme 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…