CIT (2016)(72 Taxmann.com 64)(Gujarat) 3. Sri Basaveshwara Credit Co-operative Society Ltd. v. CIT

47 Taxmann.com 189Income Tax Appellate Tribunal2014#7930 most cited

What is CIT (2016)(72 Taxmann.com 64)(Gujarat) 3. Sri Basaveshwara Credit Co-operative Society Ltd. v. CIT authority for?

Income earned by a co-operative society on deposits made with banks is not considered attributable to its credit facilities business and therefore falls outside the scope of deduction under Section 80P.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2018 to 2025.

Also referred to as

Sri Basaveshwara Credit Co-operative Society Ltd. v. CIT · Section 80P(2)(d) · Section 80P · Section 56 · interest on bank deposits · co-operative society income · business income · income from other sources

Sections most often in play

Section 80P(2)(d)Section 80PSection 80P(4)Section 143(3)Section 80P(2)(a)(i)Section 2(19)Section 56Section 80P(2)(c)

Issues it is cited on

section 194a(3)(v)section 5(b)section 80(p)(2)(d)section 80p(2)(c)section 2(19)section 194a(3)section 80p(4)section 80p(1)section 80p(2)(a)principal commissioner of income-taxsection 80p(2)(a)(i)section 80p(2)(d)

Judgments citing CIT (2016)(72 Taxmann.com 64)(Gujarat) 3. Sri Basaveshwara Credit Co-operative Society Ltd. v. CIT

Vyavasaya Seva Sahakari Bank Limited, Halkusagal vs. Income Tax Officer, Ward-1, Gadag

In the result, appeal of the Assessee is allowed

ITA 1475/BANG/2024[2020-21]Status: DisposedITAT Bangalore08 Dec 2025AY 2020-21

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year: 2020-21 M/S. Vyavasaya Seva Sahakari The Income Tax Officer, Bank Limited, Ward 1, Halkusagal. Vs. Gadag Pan: Aaaav1081D Appellant Respondent

For Appellant: Shri Anil Kumar, CA
Section 143Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘SMC’ BENCH: BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE – PRESIDENT AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment Year: 2020-21 M/s. Vyavasaya Seva Sahakari The Income Tax Officer, Bank Limited, Ward 1, Halkusagal. Vs. Gadag PAN: AAAAV1081D APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Ganesh R Gale, Standing Counsel Revenue by for Department Date of Hearing : 05-12-2025 Date of Pronouncement : 08-12-2025 ORDER PER PRASHANT MAHARISHI, VICE – PRESIDENT 1. ITA No. 1475/Bang/2024 is filed by M/s. Vyavasaya Seva Sahakari Bank Limited (the Assessee/Ap…

Bibhisanpur Samabay Krishi Unnayan Samity Ltd., Kolkata vs. I.T.O., Ward - 27(4), Haldia/ Wbg-W-176(3), Haldia

ITA 1021/KOL/2024[2020-2021]Status: DisposedITAT Kolkata04 Aug 2025AY 2020-2021

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 143(3)Section 250Section 56Section 80PSection 80P(2)(a)

…आयकर अपीलीय अधिकरण कोलकाता 'एसएमसी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA श्री संजय शमाा, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 1021/KOL/2024 Assessment Year: 2020-21 Bibhisanpur Samabay Krishi ITO, Ward-27(4), Haldia/ Unnayan Samity Ltd. Vs. WBG-W-(176)(3) (Appellant) (Respondent) PAN: AACAB4420G Appearances: Assessee represented by : S. Rai Choudhury, Adv. and Saikat Ghosal, Adv. Department represented by : Abhijit Adhikary, Addl. CIT. Date of concluding t…

Aa520 Veerampalayam Pacs Ltd., Erode vs. ITO, Ward-2(1), Erode

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

ITA 593/CHNY/2025[2020-21]Status: DisposedITAT Chennai24 Jul 2025AY 2020-21

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.:593/Chny/2025 िनधा"रण वष" / Assessment Year: 2020-21 Aa520 Veerappampalayam Ito, Primary Agricultural Co-Operative Vs. Ward -2 (1), Society Ltd., Erode. 1, Aa520, Veerappampalayam, Veerappampalayam Bo, Attavanai Hanumanpalli, Erode – 638 101. [Pan:Aadaa-8893-M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/Appellant By : Ms. G. Vardini Karthik, Advocate ""थ" की ओर से/Respondent By : Shri. Kumar Chandan, Jcit (Virtual)

For Appellant: Ms. G. Vardini Karthik, AdvocateFor Respondent: Shri. Kumar Chandan, JCIT (Virtual)
Section 119(2)(b)Section 139(1)Section 139(4)Section 2(6)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अिधकरण, ‘ए’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी जॉज" जॉज" के, उपा"" एवं "ी एस.आर.रघुनाथा, लेखा सद" के सम" BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI S.R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.:593/Chny/2025 िनधा"रण वष" / Assessment Year: 2020-21 AA520 Veerappampalayam ITO, Primary Agricultural Co-operative vs. Ward -2 (1), Society Ltd., Erode. 1, AA520, Veerappampalayam, Veerappampalayam BO, Attavanai Hanumanpalli, Erode – 638 101. [PAN:AADAA-8893-M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/Appellant by : Ms. G. Vardini Karthik…

The DCIT, Cir-3(2) Gangtok, Gangtok Sikkim vs. Sikkim State Cooperative Supply and Marketing Federation Limited, Gangtok Sikkim

ITA 1583/KOL/2024[2020-21]Status: DisposedITAT Kolkata18 Jun 2025AY 2020-21

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 250Section 80P

…आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री प्रदीप कुमार चौबे, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Deputy Commissioner of Income Sikkim State Cooperative Tax, Cir-3(2), Gangtok Supply and Marketing Vs. Federation Limited (Appellant) (Respondent) PAN: AADAS4451M Appearances: Department represented by : Sailen Samadder, Add. CIT, Sr. DR. Assessee represented by : A.…

Deputy Commissioner of Income Tax, Cir-3(2), Gangtok, Gangtok Sikkim vs. Sikkim State Cooperative Supply and Marketing Federation Limited, Gangtok Sikkim

ITA 1582/KOL/2024[2018-19]Status: DisposedITAT Kolkata18 Jun 2025AY 2018-19

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 250Section 80P

…आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री प्रदीप कुमार चौबे, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Deputy Commissioner of Income Sikkim State Cooperative Tax, Cir-3(2), Gangtok Supply and Marketing Vs. Federation Limited (Appellant) (Respondent) PAN: AADAS4451M Appearances: Department represented by : Sailen Samadder, Add. CIT, Sr. DR. Assessee represented by : A.…

Asstt.Commissioner of Income Tax Circle-5, Nagpur vs. The Nirmal Ujwal Credit Co-Op Society Ltd, Nagpur

In the result, appeal for the A

ITA 391/NAG/2019[2014-15]Status: HeardITAT Nagpur27 Nov 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal
Section 139(1)Section 143(2)Section 143(3)Section 36(1)(viia)Section 80PSection 80P(2)

…ot attributable to the credit income of the co-operative society and accordingly it is outside the scope of section 80P. To buttress his view point, the Assessing Officer relied on the precedents of Basaweshwar Credit Co Operative Society Ltd. Vs. CIT (2014) (47 Taxmann.com 189). The 15 The Nirmal Ujwal Credit Co–operative Society Ltd. A.Y.2014–15 Assessing officer also took support of the judgment of the Hon‟ble Supreme Court in case of Totagar‟s Co-operative Sale Society Ltd. v/s ITO (2010) 188 Taxman 282 (SC). All along the Assessing Officer has tried to make out a case that the appellant society has parked su…

Income Tax Officer Ward-2, Ahmednagar. vs. Kanhur Pathar Multi State Co-Operative Credit Society Maryadit, Kanhur, Kanhur Dist. Ahmednagar

In the result, the appeal filed by the Revenue in ITA

ITA 766/PUN/2024[2020-21]Status: DisposedITAT Pune27 Sept 2024AY 2020-21

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Shri Prasad S. BhandariFor Respondent: Shri Ramnath P. Murkunde
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.765 & 766/PUN/2024 िनधा"रण वष" / Assessment Years: 2018-19 to 2020-21 ITO, Ward-2, Ahmednagar. Vs. Kanhur Pathar Multi State Co-operative Credit Society Maryadit Kanhur, Kanhur Tal. Parner Dist. Ahmednagar- 414303. PAN : AAAJK0578K Appellant Respondent Revenue by : Shri Ramnath P. Murkunde Assessee by : Shri Prasad S. Bhandari Date of hearing : 22.07.2024 Date of pronouncement : 27.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: Both the above captioned app…

Income Tax Officer Ward-2, Ahmednagar., Aayakar, Bhavan, Behind Natraj Hotel, Aurangabad Road vs. Kanhur Pathar Multi State Co-Operative Credit Society Maryadit Kanhur, Kanhur Dist. Ahmednagar

In the result, the appeal filed by the Revenue in ITA

ITA 765/PUN/2024[2018-19]Status: DisposedITAT Pune27 Sept 2024AY 2018-19

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Shri Prasad S. BhandariFor Respondent: Shri Ramnath P. Murkunde
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.765 & 766/PUN/2024 िनधा"रण वष" / Assessment Years: 2018-19 to 2020-21 ITO, Ward-2, Ahmednagar. Vs. Kanhur Pathar Multi State Co-operative Credit Society Maryadit Kanhur, Kanhur Tal. Parner Dist. Ahmednagar- 414303. PAN : AAAJK0578K Appellant Respondent Revenue by : Shri Ramnath P. Murkunde Assessee by : Shri Prasad S. Bhandari Date of hearing : 22.07.2024 Date of pronouncement : 27.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: Both the above captioned app…

Mumbai Kamgar Madhyawarti Grahak Sahakari Sanstha Maryadit, Mumbai vs. Asst. Commissioner of Income Tax - Circle 20(2), Mumbai

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

ITA 2885/MUM/2024[2014-15]Status: DisposedITAT Mumbai30 Aug 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Appellant: Mr. Dinesh Kukreja a/w Punit Shah
Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SUNIL KUMAR SINGH (JUDICIAL MEMBER) ITA Nos. 2885, 2884, 2883 & 2882/MUM/2024 Assessment Year: 2014-15, 2017-18, 2018-19 & 2020-21 Mumbai Kamgar Madhyawarti Asst. CIT Circle-20(2), Grahak Sahakari Sanstha Maryadit, Piramal Chambers Lalbaug, 106A, Apna Bazar, Govindji Keni Vs. Mumbai-400012. Road, Naigaum Dadar, Mumbai-400014. PAN NO. AAAJM 0005 H Appellant Respondent Assessee by : Mr. Dinesh Kukreja a/w Punit Shah : Mrs. Mahita Nair, Sr. DR Revenue by Date of Hearing : 31/07/2024 : 30/08/2024 D…

Mumbai Kamgar Madhyawarti Grahak Sahakari Sanstha Maryadit, Mumbai vs. Asst. Commissioner of Income Tax - Circle 20(2), Mumbai

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

ITA 2884/MUM/2024[2017-18]Status: DisposedITAT Mumbai30 Aug 2024AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Appellant: Mr. Dinesh Kukreja a/w Punit Shah
Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SUNIL KUMAR SINGH (JUDICIAL MEMBER) ITA Nos. 2885, 2884, 2883 & 2882/MUM/2024 Assessment Year: 2014-15, 2017-18, 2018-19 & 2020-21 Mumbai Kamgar Madhyawarti Asst. CIT Circle-20(2), Grahak Sahakari Sanstha Maryadit, Piramal Chambers Lalbaug, 106A, Apna Bazar, Govindji Keni Vs. Mumbai-400012. Road, Naigaum Dadar, Mumbai-400014. PAN NO. AAAJM 0005 H Appellant Respondent Assessee by : Mr. Dinesh Kukreja a/w Punit Shah : Mrs. Mahita Nair, Sr. DR Revenue by Date of Hearing : 31/07/2024 : 30/08/2024 D…

Mumbai Kamgar Madhyawarti Grahak Sahakari Sanstha Maryadit, Mumbai vs. Asst. Commissioner of Income Tax - Circle 20(2), Mumbai

In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for In the result, all the appeals of the assessee are allowed for statisti...

ITA 2883/MUM/2024[2018-19]Status: DisposedITAT Mumbai30 Aug 2024AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Appellant: Mr. Dinesh Kukreja a/w Punit Shah
Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SUNIL KUMAR SINGH (JUDICIAL MEMBER) ITA Nos. 2885, 2884, 2883 & 2882/MUM/2024 Assessment Year: 2014-15, 2017-18, 2018-19 & 2020-21 Mumbai Kamgar Madhyawarti Asst. CIT Circle-20(2), Grahak Sahakari Sanstha Maryadit, Piramal Chambers Lalbaug, 106A, Apna Bazar, Govindji Keni Vs. Mumbai-400012. Road, Naigaum Dadar, Mumbai-400014. PAN NO. AAAJM 0005 H Appellant Respondent Assessee by : Mr. Dinesh Kukreja a/w Punit Shah : Mrs. Mahita Nair, Sr. DR Revenue by Date of Hearing : 31/07/2024 : 30/08/2024 D…

Mumbai Kamgar Madhyawarti Grahak Sahakari Sanstha Maryadit, Mumbai vs. Asst. Commissioner of Income Tax - Circle 20(2), Mumbai

In the result, all the appeals of the assessee are allowed for

ITA 2882/MUM/2024[2020-21]Status: DisposedITAT Mumbai30 Aug 2024AY 2020-21

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

Section 143(3)Section 80PSection 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SUNIL KUMAR SINGH (JUDICIAL MEMBER) ITA Nos. 2885, 2884, 2883 & 2882/MUM/2024 Assessment Year: 2014-15, 2017-18, 2018-19 & 2020-21 Mumbai Kamgar Madhyawarti Grahak Sahakari Sanstha Maryadit, 106A, Apna Bazar, Govindji Keni Road, Naigaum Dadar, Mumbai-400014. PAN NO. AAAJM 0005 H Appellant Vs. Asst. CIT Circle-20(2), Piramal Chambers Lalbaug, Mumbai-400012. Respondent Assessee by Revenue by Date of Hearing Date of pronouncement ORDER PER OM PRAKASH KANT, AM : Mr. Dinesh Kukreja a/w Punit Shah : Mr…

The Ikkaraiboluvampatti Paccs 33, Coimbatore vs. ITO, Ncw 4(2), Coimbatore

In the result, appeal filed by the assessee is allowed

ITA 461/CHNY/2021[2017-18]Status: DisposedITAT Chennai02 Nov 2022AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.461/Chny/2021 िनधा"रण वष" /Assessment Year: 2017-18 M/S.Ikkaraiboluvampatti Paccs, V. The Income Tax Officer, 33, Rajaji Street, Non-Corporate Ward-4(2), Coimbatore. Coimbatore. [Pan: Aaaai 3699 A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant By Mr.J.Saravanan, Adv. ""यथ" क" ओर से /Respondent By : Mr.P.Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 19.10.2022 घोषणा क" तारीख /Date Of Pronouncement : 02.11.2022

For Respondent: Mr.P.Sajit Kumar, JCIT
Section 56Section 80PSection 80P(2)(a)

…आयकर अपीलीय अिधकरण, ’सी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI "ी वी. दुगा" राव, माननीय "ाियक सद" एवं "ी जी. मंजूनाथा, माननीय लेखा सद" के सम" BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./ITA No.461/Chny/2021 िनधा"रण वष" /Assessment Year: 2017-18 M/s.Ikkaraiboluvampatti PACCS, v. The Income Tax Officer, 33, Rajaji Street, Non-Corporate Ward-4(2), Coimbatore. Coimbatore. [PAN: AAAAI 3699 A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant by Mr.J.Saravanan, Adv. ""यथ" क" ओर से /Respondent by :…

Income-Tax Officer vs. Shree Parshwanath Sahakari Pat Sanstha Ltd., Karad

In the result, appeal of the Revenue is allowed for statistical

ITA 1032/PUN/2016[2011-12]Status: DisposedITAT Pune28 Feb 2018AY 2011-12

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1032/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2011-12 वष"

For Appellant: Dr. Vivek Aggarwal, CIT-DRFor Respondent: Shri Shrikant B. Kelkar
Section 80P(2)(a)Section 80P(2)(d)

…पुणे "यायपीठ "यायपीठ "यायपीठ “बी "यायपीठ पुणे म"म"म"म" आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, पुणे अिधकरण पुणे पुणे बी बी” पुणे बी पुणे पुणे IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE "ी "ी डी "ी "ी डी. क"णाकरा क"णाकरा क"णाकरा राव क"णाकरा लेखा सद"य सद"य सद"य सद"य डी डी राव राव , लेखा राव लेखा लेखा एवं "ी "ी "ी िवकास "ी िवकास अव"थी अव"थी अव"थी, "याियक अव"थी "याियक "याियक सद"य "याियक सद"य सद"य केकेकेके सम" सद"य सम" सम" सम" एवं एवं एवं िवकास िवकास BEFORE SHRI D.KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / ITA No.1032/PUN/20…

CIT (2016)(72 Taxmann.com 64)(Gujarat) 3. Sri Basaveshwara Credit Co-operative Society Ltd. v. CIT (47 Taxmann.com 189) — Cited in 14 Judgments | BharatTax