447 (Kar). 3. Guttigedarara Credit Co-operative Society Ltd. v. ITO Ward 2(2), Mysore

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

Bench: Shri George George K & Shri Waseem Ahmed

…upreme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon'ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). 10. In the case of Principal Commissioner of Income Tax and Another Vs. Totagars Co-operative Sale Society reported in 392 ITR 0074 (Karn) in the context of deduction under section 80P(2)(d) of the Act, it was held that Section 80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by t…

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

Bench: Shri George George K & Shri Waseem Ahmed

…upreme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon'ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). 10. In the case of Principal Commissioner of Income Tax and Another Vs. Totagars Co-operative Sale Society reported in 392 ITR 0074 (Karn) in the context of deduction under section 80P(2)(d) of the Act, it was held that Section 80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by t…

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

…upreme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon'ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). 10. In the case of Principal Commissioner of Income Tax and Another Vs. Totagars Co-operative Sale Society reported in 392 ITR 0074 (Karn) in the context of deduction under section 80P(2)(d) of the Act, it was held that Section 80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by t…

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

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

…upreme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon'ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). In the case of PRINCIPAL COMMISSIONER OF INCOME TAX AND ANOTHER vs. TOTAGARS CO-OPERATIVE SALE SOCIETY 392 ITR 0074 (Karn) in the context of deduction u/s.80P(2)(d) of the Act, it was held that Sec.80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by the co-operative society from i…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

…are with respect unable to agree with the observations that the Supreme Court in Totgar's case (supra) did not lay down any law. 33. For the same reason, the judgment of the Karnataka High Court in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 377 ITR 464 (Karn); [2015] 60 taxmann.com 215 (Karn) is of no assistance to the respondent-assessee.' 23. Thus, the aforesaid judgments supports the view taken by this Court that character of income depends upon the nature of activity for earning that income and though on the face of it, the same may appear to be falling in any of the specified Clauses of Se…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

…are with respect unable to agree with the observations that the Supreme Court in Totgar's case (supra) did not lay down any law. 33. For the same reason, the judgment of the Karnataka High Court in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 377 ITR 464 (Karn); [2015] 60 taxmann.com 215 (Karn) is of no assistance to the respondent-assessee.' 23. Thus, the aforesaid judgments supports the view taken by this Court that character of income depends upon the nature of activity for earning that income and though on the face of it, the same may appear to be falling in any of the specified Clauses of Se…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

…are with respect unable to agree with the observations that the Supreme Court in Totgar's case (supra) did not lay down any law. 33. For the same reason, the judgment of the Karnataka High Court in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 377 ITR 464 (Karn); [2015] 60 taxmann.com 215 (Karn) is of no assistance to the respondent-assessee.' 23. Thus, the aforesaid judgments supports the view taken by this Court that character of income depends upon the nature of activity for earning that income and though on the face of it, the same may appear to be falling in any of the specified Clauses of Se…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

…are with respect unable to agree with the observations that the Supreme Court in Totgar's case (supra) did not lay down any law. 33. For the same reason, the judgment of the Karnataka High Court in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 377 ITR 464 (Karn); [2015] 60 taxmann.com 215 (Karn) is of no assistance to the respondent-assessee.' 23. Thus, the aforesaid judgments supports the view taken by this Court that character of income depends upon the nature of activity for earning that income and though on the face of it, the same may appear to be falling in any of the specified Clauses of Se…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

…are with respect unable to agree with the observations that the Supreme Court in Totgar's case (supra) did not lay down any law. 33. For the same reason, the judgment of the Karnataka High Court in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 377 ITR 464 (Karn); [2015] 60 taxmann.com 215 (Karn) is of no assistance to the respondent-assessee.' 23. Thus, the aforesaid judgments supports the view taken by this Court that character of income depends upon the nature of activity for earning that income and though on the face of it, the same may appear to be falling in any of the specified Clauses of Se…

Sharanabasaveshwar Credit Souhard Sahakri Ni Halingali, Bagalkot vs. Assistant Commissioner of Income-Tax, Circle-1, Bijapur

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC – B” BENCH : BANGALORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment year : 2018-19 Shree Sharanabasaveshwar Credit Vs. The Income Tax Officer, Souhard Sahakari Ni., National e-Assessment Centre, A/P Halingali – 587 315. Delhi. Tal: Jamkhandi, Dist. Bagalkot. PAN: AAEAS 6699C APPELLANT RESPONDENT Appellant by : Shri Veeranna M. Murgod, CA Respondent by : Shri Ganesh R. Ghale, Standing Counsel. Date of hearing : 24.04.2023 Date of Pronouncement : 17.05.2023 O R D E R This appeal is filed by the assessee against the order of the CIT(Appeals), National Faceless…

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

…e confining the said judgment to the facts of that case. The Court therefore concluded that Hon'ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 60 taxmann.com 215/234 Taxman 476/377 ITR 464. In the case of Totagar's Co-operative Sale Society Ltd. (supra) in the context of deduction u/s.80P(2)(d) of the Act, it was held that sec.80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by the co-operative society from its investments with any other co-operative society, the whole of such i…

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

…e confining the said judgment to the facts of that case. The Court therefore concluded that Hon'ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. v. ITO [2015] 60 taxmann.com 215/234 Taxman 476/377 ITR 464. In the case of Totagar's Co-operative Sale Society Ltd. (supra) in the context of deduction u/s.80P(2)(d) of the Act, it was held that sec.80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by the co-operative society from its investments with any other co-operative society, the whole of such i…

Brahman Pattin Sangh Niyamit Jamkhandi, Jamakhandi vs. Assistant Commissioner of Income-Tax, Circle-1, Bijapur

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

Bench: Shri Laxmi Prasad Sahuassessment Year : 2017-18

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC - A” BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year : 2017-18 M/s. Brahman Pattin Sahakari Sangh ACIT, Niyamit, Circle – 1, CTS No.2472, Near Mallikarjuna Gudi, Vs. Bijapur. Ramadev Galli Jamakhandi, Bagalkota District – 587 301, Karnataka – 587301. PAN : AABAB 8253 A APPELLANT RESPONDENT Assessee by : None Revenue by : Shri.Ganesh R. Gale, Standing Counsel Date of hearing : 20.02.2023 Date of Pronouncement : 23.02.2023 O R D E R This is an appeal filed by the assessee against the order passed by the National Faceless Appeal Centre…

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

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.

…upreme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon’ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co-operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). In the case of PRINCIPAL COMMISSIONER OF INCOME TAX AND ANOTHER vs. TOTAGARS CO-OPERATIVE SALE SOCIETY 392 ITR 0074 (Karn) in the context of deduction u/s.80P(2)(d) of the Act, it was held that Sec.80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by the co-operative society from i…

Sree Renukamba Credit Co-Op. Society Ltd., Davanagere vs. ITO, Ward-1, Davanagere

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

Bench: Shri Chandra Poojarisree Renukamba Credit Co- Vs The Income Tax Officer Operative Society Ltd. Ward - 1 Vinobanagara, Pb Road Davanagere Davanagere 577006 Pan – Abias7107E (Appellant) (Respondent) Assessee By: Shri Sandeep C, Ca Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 17.01.2023 Date Of Pronouncement: 17.01.2023 O R D E R Per: Chandra Poojari, A.M. This Appeal By The Assessee Is Directed Against The Order Of The Cit(A), Nfac, Delhi Dated 23.11.2022 For Ay 2020-21. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “1. That The Order Of The Learned Commissioner Of Income-Tax (Appeals) In So Far It Is Prejudicial To The Interests Of The Appellant Is Bad & Erroneous In Law & Against The Facts & Circumstances Of The Case. 2. That The Learned Commissioner Of Income-Tax (Appeals) Erred In Law & On Facts In Deciding The Appeal Ex-Parte On The Ground That The Appellant Did Not Respond To The Hearing Notices & Such Finding Is Perverse As The Appellant Has Sought Adjournment. 3. That The Learned Commissioner Of Income-Tax (Appeals) Erred In Law & On Facts In Not Considering The Fact That The Appellant Responded To The Intimation U/S 143(1) Of The Act

…of the Act. The Court also observed that even the Hon’ble Supreme Court made it clear that, they are confining the said judgment to the facts of that case. Similar view taken in case of Guttigedarara Credit Co-operative Society Ltd. vs. ITO reported in [2015] 377 ITR 464 by Hon’ble Karnataka High Court. In a subsequent decision of Pr.CIT And Anrs vs. Totagars Co-Operative Sale Society reported in 392 ITR 74 in the context of deduction u/s.80P(2)(d) of the Act, it was held by Hon’ble Karnataka high Court that deduction in respect of any income by way of interest or dividends derived by the co-operative society fro…

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

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

…preme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon’ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co- operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). In the case of PRINCIPAL COMMISSIONER OF INCOME TAX AND ANOTHER vs. TOTAGARS CO-OPERATIVE SALE SOCIETY 392 ITR 0074 (Karn) in the context of deduction u/s.80P(2)(d) of the Act, it was held that Sec.80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by the co-operative society from i…

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

Bench: Shri Chandra Poojari

…preme made it clear that they are confining the said judgment to the facts of that case. The Court therefore concluded that Hon’ble Supreme Court was not laying down any law. Similar view taken in Guttigedarara Credit Co- operative Society Ltd. vs. ITO [2015] 377 ITR 464 (Karnataka). In the case of PRINCIPAL COMMISSIONER OF INCOME TAX AND ANOTHER vs. TOTAGARS CO-OPERATIVE SALE SOCIETY 392 ITR 0074 (Karn) in the context of deduction u/s.80P(2)(d) of the Act, it was held that Sec.80P(2)(d) of the Act allows deduction in respect of any income by way of interest or dividends derived by the co-operative society from i…