Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT

308 ITR 202High Court2009#6632 most cited

What is Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT authority for?

The income of a society for mutual benefits of its members is exempt from tax, as demonstrated in this case concerning a cooperative bank.

17

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2025.

Also referred to as

Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT · 308 ITR 202 · charitable trusts and exemptions · section 11 · section 12A · section 13 · mutual benefit · co-operative bank income · tax exemption

Sections most often in play

Section 11Section 11(1)(d)Section 11(5)Section 12ASection 13(1)(c)(ii)Section 13(3)Section 2(15)

Issues it is cited on

section 56(i)(ccv)section 80p(2)(i)assessment order erroneouslack of enquirysection 80p(4)section 80p(2)(a)section 80p(2)(d)section 80p(2)(a)(i)section 80p(2)limited scrutinyerroneous and prejudicialsection 56

Judgments citing Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT

Deputy Commissioner of Income Tax (Exemption)-1(1), Mumbai vs. All India Gem and Jewellery Domestic Council, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 4652/MUM/2025[2015-16]Status: DisposedITAT Mumbai24 Dec 2025AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2015-16

For Respondent: Mr. Firoz Andhyarujina
Section 11Section 2(15)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAJ KUMAR CHAUHAN (JUDICIAL MEMBER) Assessment Year: 2015-16 Dy. CIT (Exemption)-1(1), All India Gem And Jewellery 6th floor, MTNL Building Domestic Council, Vs. Cumballa Hill, Dr. GD 1501 & 1502, Panchratna CHS Deshmukh Marg (Pedder Ltd. P Marg, Opera House, Road), Charni Road (East), Mumbai-400026. Mumbai-400 004. PAN NO. AAFCA 3001 P Appellant Respondent : Mr. Firoz Andhyarujina Assessee by Revenue by : Mr. Surendra Mohan, Sr. DR : 01/10/2025 Date of Hearing Date of pronouncement : 24/12/20…

The Mullanpur Garibdas Co-Op Multipurpose Society, Mohali vs. DCIT, C-6(1), Mohali

ITA 645/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh16 May 2024AY 2012-13

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Garima Singh, CIT, DR
Section 263Section 56Section 80PSection 80P(2)(d)

…R 24 (P&H). The income of the society, being for mutual benefits of its members, is also exempt from tax. Your kind attention is invited to the case of 'Bankipur Club Limited', 140 CTR 102 (SC) and 'Canara Bank Golden Jubilee Staff Welfare Fund Versus DCIT', 308 ITR 202 (Kerala) and 'Chemsford Club Limited', reported as 243 ITR 89." By way of Question Number 5, the Assessing Officer asked the assessee society to give complete details of all bank accounts, including FD ITA 515/CHD/2017 ITA 569/CHD/2018 & ITA 645/CHD/2019 16 accounts, maintained by the society, giving the name of the bank and branch with compl…

The Mullanpur Garibdas Co-Op Multipurpose Society, Mullanpur vs. Pr. CIT-II, Chandigarh

ITA 569/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh16 May 2024AY 2013-14

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Garima Singh, CIT, DR
Section 263Section 56Section 80PSection 80P(2)(d)

…R 24 (P&H). The income of the society, being for mutual benefits of its members, is also exempt from tax. Your kind attention is invited to the case of 'Bankipur Club Limited', 140 CTR 102 (SC) and 'Canara Bank Golden Jubilee Staff Welfare Fund Versus DCIT', 308 ITR 202 (Kerala) and 'Chemsford Club Limited', reported as 243 ITR 89." By way of Question Number 5, the Assessing Officer asked the assessee society to give complete details of all bank accounts, including FD ITA 515/CHD/2017 ITA 569/CHD/2018 & ITA 645/CHD/2019 16 accounts, maintained by the society, giving the name of the bank and branch with compl…

The Mullanpur Garibdas Co-Op Multipurpose Society, Mohali vs. Pr. CIT-II, Chandigarh

ITA 515/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh16 May 2024AY 2012-13

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Garima Singh, CIT, DR
Section 263Section 56Section 80PSection 80P(2)(d)

…R 24 (P&H). The income of the society, being for mutual benefits of its members, is also exempt from tax. Your kind attention is invited to the case of 'Bankipur Club Limited', 140 CTR 102 (SC) and 'Canara Bank Golden Jubilee Staff Welfare Fund Versus DCIT', 308 ITR 202 (Kerala) and 'Chemsford Club Limited', reported as 243 ITR 89." By way of Question Number 5, the Assessing Officer asked the assessee society to give complete details of all bank accounts, including FD ITA 515/CHD/2017 ITA 569/CHD/2018 & ITA 645/CHD/2019 16 accounts, maintained by the society, giving the name of the bank and branch with compl…

Dev Caste Ktoy Owners Association, Ahmedabad vs. The ITO, Ward-3(2)(6), Ahmedabad

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

ITA 200/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad23 Dec 2022AY 2017-18

Bench: Ms. Suchitra Kamble

For Appellant: Shri Sanjay R Shah, A.RFor Respondent: Shri M. Anand Kumar, Sr. D.R
Section 57Section 80PSection 80P(2)(c)

…the members of the flat owners and the same should be utilized for maintenance of the housing complex/residential premises. The Ld. A.R. relied upon the decision of Hon’ble Karnataka High Court in case of Canara Bank Golden Jubilee Staff Welfare Fund vs. DCIT 308 ITR 202, decision of Hon’ble Delhi High Court in case of CIT vs. Delhi Gymkhana Club Ltd. 339 ITR 525, decision of Hon’ble Bombay High Court in case of Sind Co- op. Hsg. Society vs. ITO 317 ITR 47, decision of Hon’ble Delhi High Court in case of CIT vs. Talangang Co-op. Housing Society Ltd. 339 ITR 518. Dev Castle Ktoy Owners Association vs. ITO Asst.Yea…

DCIT, New Delhi vs. M/S. Deloitte Touche Tohmastu, Gurgaon

ITA 530/DEL/2016[2011-12]Status: DisposedITAT Delhi11 Apr 2022AY 2011-12

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…ned. i. International Zinc Association [2018] 94 taxmann.com 27 (AAR- New Delhi) ii. CIT v. Bankipur Club Limited 226 ITR 97 (SC) iii. Chelmsford Club v. C.I.T. 243 ITR 89 (SC) 8 ITA No. 5759 & Ors. iv. Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT 308 ITR 202 (Kar) v. Bangalore Club 350 ITR 509 (SC) vi. A P Moller Maersk AS vs. DIT (IT) [2017] 392 ITR 186 vii. CIT vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC)] viii. KPMG 8] taxmann.com 118 [2017] 81 taxmann.com 118 (Mumbai Tribunal). ix. ITAT Delhi Bench ‘C’ in Assistant Director of Income Tax (E), Trust Circle II, vs. Hologram Manufacturer…

DCIT (International Taxation), New Delhi vs. M/S Deloitte Touche Tohmastu, Gurgaon

ITA 6703/DEL/2015[2008-09]Status: DisposedITAT Delhi11 Apr 2022AY 2008-09

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…ned. i. International Zinc Association [2018] 94 taxmann.com 27 (AAR- New Delhi) ii. CIT v. Bankipur Club Limited 226 ITR 97 (SC) iii. Chelmsford Club v. C.I.T. 243 ITR 89 (SC) 8 ITA No. 5759 & Ors. iv. Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT 308 ITR 202 (Kar) v. Bangalore Club 350 ITR 509 (SC) vi. A P Moller Maersk AS vs. DIT (IT) [2017] 392 ITR 186 vii. CIT vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC)] viii. KPMG 8] taxmann.com 118 [2017] 81 taxmann.com 118 (Mumbai Tribunal). ix. ITAT Delhi Bench ‘C’ in Assistant Director of Income Tax (E), Trust Circle II, vs. Hologram Manufacturer…

DCIT, Intl. Taxation, New Delhi vs. Deloitte Touche Tohmastu, Gurgaon

ITA 5760/DEL/2015[2009-10]Status: DisposedITAT Delhi11 Apr 2022AY 2009-10

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…ned. i. International Zinc Association [2018] 94 taxmann.com 27 (AAR- New Delhi) ii. CIT v. Bankipur Club Limited 226 ITR 97 (SC) iii. Chelmsford Club v. C.I.T. 243 ITR 89 (SC) 8 ITA No. 5759 & Ors. iv. Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT 308 ITR 202 (Kar) v. Bangalore Club 350 ITR 509 (SC) vi. A P Moller Maersk AS vs. DIT (IT) [2017] 392 ITR 186 vii. CIT vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC)] viii. KPMG 8] taxmann.com 118 [2017] 81 taxmann.com 118 (Mumbai Tribunal). ix. ITAT Delhi Bench ‘C’ in Assistant Director of Income Tax (E), Trust Circle II, vs. Hologram Manufacturer…

DCIT, Intl. Taxation, New Delhi vs. Deloitte Touche Tohmastu, Gurgaon

ITA 5759/DEL/2015[2010-11]Status: DisposedITAT Delhi11 Apr 2022AY 2010-11

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…ned. i. International Zinc Association [2018] 94 taxmann.com 27 (AAR- New Delhi) ii. CIT v. Bankipur Club Limited 226 ITR 97 (SC) iii. Chelmsford Club v. C.I.T. 243 ITR 89 (SC) 8 ITA No. 5759 & Ors. iv. Canara Bank Golden Jubilee Staff Welfare Fund v. DCIT 308 ITR 202 (Kar) v. Bangalore Club 350 ITR 509 (SC) vi. A P Moller Maersk AS vs. DIT (IT) [2017] 392 ITR 186 vii. CIT vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC)] viii. KPMG 8] taxmann.com 118 [2017] 81 taxmann.com 118 (Mumbai Tribunal). ix. ITAT Delhi Bench ‘C’ in Assistant Director of Income Tax (E), Trust Circle II, vs. Hologram Manufacturer…

ACIT, Circle, Panchkula vs. M/S Panchkula Golf Club, Panchkula

In the result, both the above appeals of the Revenue are dismissed

ITA 461/CHANDI/2018[2009-10]Status: DisposedITAT Chandigarh06 Aug 2018AY 2009-10

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

For Appellant: Revenue By : Sh. N.D. GuptaFor Respondent: Sh. N.D. Gupta
Section 143(3)Section 148Section 271Section 271(1)(c)

…following judgments in favour of the assessee prior to decision of Hon 'ble Supreme Court, i) Delhi HC- All India Oriental Bank of commerce Welfare Society [2003] 130 Taxman 5765 (Del.) ii) Karnataka HC - Canara Bank Golden Jubilee Staff Welfare Fund [2009] 308 ITR 202 (Karri). iii) Delhi HC- Standing Conference of Public Enterprises [2009] 319 ITR 179 (Del.) 6. The Ld. AR argued that this is not the case of deliberate furnishing of inaccurate particulars of income within the meaning of the Act as the assessee had disclosed details of interest income of Rs. 30,31,222/- and Rs. 42,40,760/- itself in the origin…

ACIT, Circle, Panchkula vs. M/S Panchkula Golf Club, Panchkula

In the result, both the above appeals of the Revenue are dismissed

ITA 462/CHANDI/2018[2011-12]Status: DisposedITAT Chandigarh06 Aug 2018AY 2011-12

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

For Appellant: Revenue By : Sh. N.D. GuptaFor Respondent: Sh. N.D. Gupta
Section 143(3)Section 148Section 271Section 271(1)(c)

…following judgments in favour of the assessee prior to decision of Hon 'ble Supreme Court, i) Delhi HC- All India Oriental Bank of commerce Welfare Society [2003] 130 Taxman 5765 (Del.) ii) Karnataka HC - Canara Bank Golden Jubilee Staff Welfare Fund [2009] 308 ITR 202 (Karri). iii) Delhi HC- Standing Conference of Public Enterprises [2009] 319 ITR 179 (Del.) 6. The Ld. AR argued that this is not the case of deliberate furnishing of inaccurate particulars of income within the meaning of the Act as the assessee had disclosed details of interest income of Rs. 30,31,222/- and Rs. 42,40,760/- itself in the origin…

Kalaimaghal Sabha, Chennai vs. ITO, Chennai

In the result, the appeals filed by the assessee are partly allowed

ITA 1404/CHNY/2017[2013-14]Status: DisposedITAT Chennai08 Jan 2018AY 2013-14

Bench: Shri Abraham P.George & Shri George Mathan

For Respondent: Mr.N.Madhavan, ACIT

…(243 ITR 89-SC). It has been held by Karnataka High Court that a society is eligible for exemption even in respect of interest income from Term Deposits with Banks and dividend income from shares.(Canara Bank Golden Jubilee Staff Welfare Fund Vs Deputy CIT (308 ITR 202). It has also been held by Delhi High Court that Interest on FD, dividend income, Profit on sale investment etc are not chargeable to tax on mutuality principle. It has also been held in many cases that interests on fixed deposits with banks are taxable since the bank is not a member and it amounts to dealing with outsiders. But in all these ca…

Kalaimaghal Sabha, Chennai vs. ITO, Chennai

In the result, the appeals filed by the assessee are partly allowed

ITA 1403/CHNY/2017[2012-13]Status: DisposedITAT Chennai08 Jan 2018AY 2012-13

Bench: Shri Abraham P.George & Shri George Mathan

For Respondent: Mr.N.Madhavan, ACIT

…(243 ITR 89-SC). It has been held by Karnataka High Court that a society is eligible for exemption even in respect of interest income from Term Deposits with Banks and dividend income from shares.(Canara Bank Golden Jubilee Staff Welfare Fund Vs Deputy CIT (308 ITR 202). It has also been held by Delhi High Court that Interest on FD, dividend income, Profit on sale investment etc are not chargeable to tax on mutuality principle. It has also been held in many cases that interests on fixed deposits with banks are taxable since the bank is not a member and it amounts to dealing with outsiders. But in all these ca…

DCIT 5(2), Mumbai vs. Malabar Hill Club Ltd, Mumbai

In the result, the appeal of the revenue and cross objection of the assessee are hereby dismissed

ITA 6197/MUM/2012[2009-10]Status: DisposedITAT Mumbai24 Oct 2016AY 2009-10

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2009-10 Dcit-5(2), M/S Malabar Hill Club R. No.571, Aaykar Bhavan Limited, बनाम/ M.K. Road, Il Palazzo, B.K. Kher Vs. Mumbai-400020 Marg, Malabar Hill, Mumbai-400006 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacw3868M

Section 144

…l organisation on the ground non members were not entitled to use the facilities of the company, that it had not claimed the status of mutual concern.It relied upon the cases of Secunderabad Club (97 ITD 541) and Canara Bank Golden Jubilee Staff Welfare Fund (308 ITR 202). 2.1.After considering the submission of the assessee, the FAA held that he had gone through the orders of the Hon'ble Bombay High Court delivered in the case of the assessee for the AY.s 1955-56 to 1959-60, that in those years the Department had not disputed the claim of the assessee about its being a trading company, that the assessee had fi…

ADIT (E), New Delhi vs. M/S. India Habitat Centre, New Delhi

Appeal of the revenue is dismissed

ITA 4024/DEL/2012[2009-10]Status: DisposedITAT Delhi29 Apr 2016AY 2009-10

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiadit (E), India Habitat Centre, Inv. Circle-I, Lodhi Road, Vs. New Delhi New Delhi Pan:Aaati0499M (Appellant) (Respondent)

For Appellant: Sh. Amit Jain, Sr. DRFor Respondent: Sh. Suresh Anantharaman, CA
Section 11Section 12ASection 143(2)Section 2(15)Section 80G

…ank of Commerce Welfare Society (supra) was followed by the Hon’ble jurisdictional High Court in their decision dated 11.5.2007 in the case of Country Club . Hon’ble Karnataka High Court in the case of Canara Bank Golden Jubilee Staff Welfare Fund v. Dy. CIT, 308 ITR 202 (Kar.) held that “2.8 Taking into consideration the objects of the assessee, the source of funds during the relevant years and the applicability of the funds for the benefit of its members, and keeping in mind the interest on investments and dividend earned on shares was only a small portion of the total earned by investment of the surplus funds…

M/S. Koramangala Club vs. The Income Tax Officer

Appeals are allowed accordingly

ITA/173/2009HC Karnataka26 Feb 2016

Bench: S.SUJATHA,JAYANT PATEL

Section 260Section 271BSection 44A

…completely absent. This position has been rightly accepted even in the previous decision of this Court.” 7 7. This Court in the case of CANARA BANK GOLDEN JUBILEE STAFF WELFARE FUND vs. DEPUTY COMMISSIONER OF INCOME TAX reported in [(2009) 308 ITR 202], while considering the general law relating to mutual concerns, has held at paras 13 and 14 as under: “13. Under the general law relating to mutual concerns, the surplus accruing to a mutual concern cannot be regarded as income, profits or gains for the purpose of the Act (s.4), and where the contributors are to receive back a part…

M/S Koramangala Club vs. The Income Tax Officer

Appeals are allowed accordingly

ITA/279/2010HC Karnataka26 Feb 2016

Bench: S.SUJATHA,JAYANT PATEL

Section 260Section 271BSection 44A

…completely absent. This position has been rightly accepted even in the previous decision of this Court.” 7 7. This Court in the case of CANARA BANK GOLDEN JUBILEE STAFF WELFARE FUND vs. DEPUTY COMMISSIONER OF INCOME TAX reported in [(2009) 308 ITR 202], while considering the general law relating to mutual concerns, has held at paras 13 and 14 as under: “13. Under the general law relating to mutual concerns, the surplus accruing to a mutual concern cannot be regarded as income, profits or gains for the purpose of the Act (s.4), and where the contributors are to receive back a part…