2058, Saravanampatti Primary Agricultural Co-Operative Credit Societies Ltd. v. Income Tax Officer

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,BAHRAICH vs. INCOME TAX OFFICER-1, BAHRAICH

In the result, all the three appeals are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

…and therefore, is eligible to be deducted under section 80P(2)(a) of the Act. 16. We have further observed that the Hon’ble Madras High Court in the case of K. 2058, Saravanampatti Primary Agricultural Co-Operative Credit Societies Ltd. v. Income Tax Officer 426 ITR 251 (Mad), after considering that the Societies was required to maintain a statutory reserve of 25% under the Tamilnadu Cooperative Societies Act held that the same could not be regarded as the surplus funds of the Society as decided in M/s Totgars Cooperative Sale Society Limited (supra)and therefore, it set aside the assessment of the ld. Assessing…

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,BAHRAICH vs. INCOME TAX OFFICER-1, BAHRAICH

In the result, all the three appeals are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

…and therefore, is eligible to be deducted under section 80P(2)(a) of the Act. 16. We have further observed that the Hon’ble Madras High Court in the case of K. 2058, Saravanampatti Primary Agricultural Co-Operative Credit Societies Ltd. v. Income Tax Officer 426 ITR 251 (Mad), after considering that the Societies was required to maintain a statutory reserve of 25% under the Tamilnadu Cooperative Societies Act held that the same could not be regarded as the surplus funds of the Society as decided in M/s Totgars Cooperative Sale Society Limited (supra)and therefore, it set aside the assessment of the ld. Assessing…

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,BAHRAICH vs. INCOME TAX OFFICER-1, BAHRAICH

In the result, all the three appeals are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

…and therefore, is eligible to be deducted under section 80P(2)(a) of the Act. 16. We have further observed that the Hon’ble Madras High Court in the case of K. 2058, Saravanampatti Primary Agricultural Co-Operative Credit Societies Ltd. v. Income Tax Officer 426 ITR 251 (Mad), after considering that the Societies was required to maintain a statutory reserve of 25% under the Tamilnadu Cooperative Societies Act held that the same could not be regarded as the surplus funds of the Society as decided in M/s Totgars Cooperative Sale Society Limited (supra)and therefore, it set aside the assessment of the ld. Assessing…

DISTRICT CO-OPERTIVE SUGAR CANE SUPPLY LTD. ,BAREILLY vs. ITO RANGE-1-1 , BAREILLY

In the result, the appeal of the assessee is allowed

Bench: SHRI KUL BHARAT (Vice President)

…and therefore, is eligible to be deducted under section 80P(2)(a) of the Act. 16. We have further observed that the Hon’ble Madras High Court in the case of K. 2058, Saravanampatti Primary Agricultural Co-Operative Credit Societies Ltd. v. Income Tax Officer 426 ITR 251 (Mad), after considering that the Societies was required to maintain a statutory reserve of 25% under the Tamilnadu Cooperative Societies Act held that the same could not be regarded as the surplus funds of the Society as decided in M/s Totgars Cooperative Sale Society Limited (supra) and therefore, it set aside the assessment of the ld. Assessin…

GONDA COOPERATIVE CANE DEVELOPMENT UNION LTD,GONDA vs. INCOME TAX OFFICER, GONDA

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

Bench: The Ld. Cit(A) Who Has Dismissed The Appeal Of The Assessee. Being Further Aggrieved, The Assessee Is In Appeal Before The Income Tax Appellate Tribunal (Itat).

…and therefore, is eligible to be deducted under section 80P(2)(a) of the Act. 16. We have further observed that the Hon’ble Madras High Court in the case of K. 2058, Saravanampatti Primary Agricultural Co-Operative Credit Societies Ltd. v. Income Tax Officer 426 ITR 251 (Mad), after considering that the Societies was required to maintain a statutory reserve of 25% under the Tamilnadu Cooperative Societies Act held that the same could not be regarded as the surplus funds of the Society as decided in M/s Totgars Cooperative Sale Society Limited (supra) and therefore, it set aside the assessment of the ld. Assessin…

M/S CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,LAKHIMPUR-KHERI vs. INCOME TAX OFFICER-I, LAKHIMPUR -KHERI

Bench: Sh. Kul Bharat & Sh. Nikhil Choudhary

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW ‘A’ BENCH, LUCKNOW BEFORE SH. KUL BHARAT, VICE PRESIDENT AND SH. NIKHIL CHOUDHARY, ACCOUNTANT MEMBER ITA No.37/Lkw/2022, ITA No.15/Lkw/2023 & ITA No.394/ Lkw/2019 Α.Υ. 2017-18, 2018-19 & 2016-17 M/s Cooperative Cane Development vs. Income Tax Officer, Union Ltd., Gola Gokaran Nath, Lakhimpur Kheri, U.P. PAN:AAAAC1960A (Appellant) Assessee by: Revenue by: Date of hearing: Date of pronouncement: Range-3(4), Lakhimpur Kheri, U.P. (Respondent) Sh. Shubham Rastogi, C.A. Sh. Sanjeev Krishna Sharma, Addl CIT DR 20.03.2025 30.04.2025 ORDER PER NIKHIL CHOUDHARY, A.M.: These th…