CIT v. Baroda Peoples Co-operative Bank Ltd.

280 ITR 282High Court2006#11698 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 143(3)Section 254 Section 80P(2)(a)(i)Section 142(1)Section 2(24)Section 28 Section 56 Section 80P(1)

Issues it is cited on

mutuality principle doctrine of mutuality section 80(p)(2)(a)section 71 corpus fund section 80p(1)section 80p(2)(a)section 2(24)gross total income section 80p(2)(d)section 80p(2)(a)(i)section 80p(2)

Judgments citing CIT v. Baroda Peoples Co-operative Bank Ltd.

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 162/CHANDI/2023[2013-14]Status: DisposedITAT Chandigarh12 Feb 2025AY 2013-14

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं . / ITA No.160, 161 & 162/ Chd/2023 निर्धारण वर्ष / Assessment Year : 2017-18, 2012-13 & 2013-14 The Jyoti Co-operative Non Agricultural Thrift & Credit Society Ltd. Sirmour, Solan, HP-173025 स्थायी लेखा सं. / PAN NO: AAABT1453G अपीलार्थी/Appellant बनाम The ITO H.P Ward-Nahan, Sirmour प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, Advocate राजस्व की ओर से / Revenue by : Dr. Ranjeet K

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR

Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…vs. ITO reported in 377 ITR 464, Hon’ble Andhra Pradesh High Court decision in case of CIT Vs. Andhra Pradesh State Co-operative Bank Ltd. reported in 336 ITR 516, Hon’ble Gujarat High Court in case of CIT Vs. Baroda Peoples Co-operative Bank Ltd. reported in 280 ITR 282 and Hon’ble Karnataka High Court in case of Tumkur Merchants Southarda Credit Cooperative Ltd. Vs. ITO (2015) 55 Taxman.com 447. 6. The submissions so filed by the assessee were considered but not found acceptable to the AO. As per AO, the assessee is not eligible for deduction either u/s 80P(2)(a)(i) of the Act or u/s 80P(2)(d) of the Act in res…

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

ITA 161/CHANDI/2023[2012-13]Status: DisposedITAT Chandigarh12 Feb 2025AY 2012-13

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR

Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

ITA 160/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh12 Feb 2025AY 2017-18

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR

Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

BANSABATI CO-OPERATIVE BANK LTD., ,HOOGHLY vs. PRINCIPAL CIT - 8, KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

ITA 271/KOL/2018[2012-13]Status: DisposedITAT Kolkata03 Dec 2020AY 2012-13

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 263Section 80P

…ank i.e. the assessee is eligible for Section 80P deduction on the interest earned while carrying out the business of banking is no longer res-integra and cited the decision of Hon’ble Gujrat High Court in CIT vs. Baroda Peoples Co- operative Bank Ltd. (2006) 280 ITR 282 (Guj) wherein we note that the Hon’ble High Court took note of section 80P of the Act and discussed in detail about this in a similar case of an assessee like Bank which are re-produced (only relevant portion) as under: “……………………….. 80P. Deduction in respect of income of co-operative societies. – (1) Where, in the case of an assessee being a co-…

M/S. KANKARIA MANINAGAR NAGRIK SAHAKARI BANK LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-6(1),, AHMEDABAD

In the result, appeal filed by the Assessee is allowed

ITA 2928/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad29 Jan 2020AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad)

For Appellant: NoneFor Respondent: Shri Mudit Nagpal, Sr. D.R

Section 18Section 32

…d issue only entered in the Assessment order without giving Show Cause to the assessee bank. 3. The Ld. Commissioner of Income Tax (Appeals)-VI, Ahmedabad failed to consider the judgment of Commissioner of Income Tax v/s Baroda Peoples Co- Operative Bank Ltd (280 ITR 282 Gujarat) which was filed before him. 4. Your appellant prays to add, alter or delete any of the grounds appeal at the time of hearing. 2. Facts of the case are that assessee is a Co-operative Bank and assessee has claimed Rs. 2,44,325/- as loss on account of deterioration of value on Govt. Security kept with the Bank. 3. As per assessee, in cas…

ITO, WD-2(4), KOLKATA, KOLKATA vs. M/S SUVRIDHI CAPITAL MARKETS LTD., KOLKATA

In the result, both the appeals filed by the Revenue (ITA No

ITA 830/KOL/2015[2008-2009]Status: DisposedITAT Kolkata31 Aug 2017AY 2008-2009

Bench: Shri N. V. Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.830 & 831/Kol/2015 (िनधा"रण वष" / Assessment Year: 2008-09 & 2010-11) Vs. M/S Suvridhi Capital I.T.O., Ward – 2(4), Kolkata Markets Ltd. 516, Kamalalaya Centre, 156A, Lelin Sarani, Kolkata – 700 013. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecs 4092 F ( Appellant) .. (Respondent) Appellant By :Shri G. H. Sema, Acit(Dr) Respondent By :Shri Ashis Kumar Rustogi, Fca सुनवाई की तारीख / Date Of Hearing : 17/08/2017 घोषणा की तारीख/Date Of Pronouncement : 31/08/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: These Two Captioned Appeals Filed By The Revenue Pertaining To Assessment Year 2008-09 & 2010-11, Are Directed By Order Passed By The Ld. Commissioner Of Income Tax (Appeals), Which Is In Turn Arises Out Of Assessment Orders Passed By The Assessing Officer U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’). 2. Since These Two Appeals Filed By The Revenue Pertain To Same Assessee, Different Assessment Years & Identical Issues Are Involved, Therefore, These Have Been Clubbed & Heard Together & A Consolidated Order Is Being Passed For The Sake Of Convenience & Brevity. The Revenue`S Appeal In Ita No.830/Kol/2015, Assessment Year 2008-09, Is Taken As A Lead Case.

For Appellant: Shri G. H. Sema, ACIT(DR)For Respondent: Shri Ashis Kumar Rustogi, FCA

Section 143(1)Section 143(2)Section 143(3)Section 43(5)Section 73

…, of the Act, in computing the total income of an assessee, there shall be included all income on which no income tax is payable under chapter VII. The assessee stated that it was held by the Gujarat High Court in CIT Vs. Baroda Peoples Co-operative Bank Ltd. 280 ITR 282 that the gross total income means the total income, computed in accordance with the provisions of this Act and while computing the total income, deduction under this chapter are not to be taken into consideration. Thus, the net income under any particular head or item has to go in as a component of gross total income before any deduction under Ch…

THE SRI KANNIKAPARAMESHWARI CO-OP BANK LIMITED,DAVANGERE vs. INCOME-TAX OFFICER, DAVANGERE

In the result, the appeal of the assessee is dismissed

ITA 1364/BANG/2016[2004-05]Status: DisposedITAT Bangalore23 Sept 2016AY 2004-05

Bench: Shri A.K.Garodia, Accounant Member

For Appellant: Shri S. Ramasubramanian, CAFor Respondent: Shri G. Manoj Kumar, Addl. CIT

Section 143(3)Section 147Section 148Section 80PSection 80P(2)

…’ble Apex Court rendered in the case of CIT Vs Cocanada 8 ITA No.1364(Bang)2016 Radhaswami Bank Ltd., 57 ITR 306(SC). Reliance was also placed on the judgment of the Hon’ble Gujarat High Court rendered in the case of CIT Vs Baroda Peoples Co-Op. Bank Ltd., 280 ITR 282 (Guj.) 13. The ld. DR of the revenue supported the orders of the authorities below. 14. I have considered the rival submissions. I find that the dispute in the present case is regarding the allowability of deduction u/s 80P of the Act in respect of income earned by the assessee of Rs.44,53,500/- on account of its activities of purchase and sal…

ACIT, CIRCLE - 56, KOLKATA, KOLKATA vs. THE WEST BENGAL STATE CO-OPT. BANK LTD., KOLKATA

In the result, the appeals as well as the cross-objections are dismissed

ITA 737/KOL/2011[1996-97]Status: DisposedITAT Kolkata03 Aug 2016AY 1996-97

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.Anos.737-742/Kol/2011 Assessment Years : 1996-97 To 2001-02 A.C.I.T., Circle-56, -Vs.- The West Bengal State Co-Operative Kolkata Bank Ltd.Kolkata [Pan : Aaaat 7072 N] (Respondent) (Appellant) C.O.Nos.36-40/Kol/2011 (A/O I.T.A Nos. 737-741/Kol/2011 ) Assessment Years : 1996-97 To 2000-2001 The West Bengal State Co-Operative -Vs.- A.C.I.T., Circle-56, Bank Ltd., Kolkata Kolkata [Pan : Aaaat 7072 N] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri N.C.Mondal, Ca Date Of Hearing : 27.07.2016. Date Of Pronouncement : 03.08.2016. Order Per Bench

For Appellant: Shri N.C.Mondal, CAFor Respondent: Shri G.Mallikarjuna, CIT(DR)

Section 147Section 80PSection 80P(2)(a)

…s.737-742/K/2011& CO.36-40/K/2011-The W.B.State Copt.Bank Ltd. A.Y.1996-97 to 2001-02 3 80P(2)(a)(i) depended upon whether the voluntary reserves. were utilised in the course of its ordinary banking business." CIT vs. Baroda Peoples Co-Opt. Bank Ltd. [2006] 280 ITR 282 (Guj.) "The assessee a co-operative bank earned interest from investments in (i) IDBI bonds; (ii) SBI Bonds; (iii) Sardar Sarovar Narmada Bonds; and (iv) Kisan Vikas Patra. The Assessing Officer treated all the aforesaid investments as . "fixed capital" and held that the investments were not .available for nor-mal banking business. Therefore the…

M/S. AVENUE ASIA ADVISORS PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

ITA 6638/DEL/2013[2009-10]Status: DisposedITAT Delhi22 Jan 2016AY 2009-10

Bench: Smt. Diva Singh & Sh. O.P. Kantassessment Year: 2009-10 Avenue Asia Advisors Pvt. Vs. Dcit, Circle-2(1), Lower Ground Floor, C-4/5, New Delhi. Safdarjung Development Area, New Delhi (Pan: Aadcp7362G) (Appellant) (Respondent) Appellant By : S/Sh. Mukesh Butani, Vishal Kalra & Vivek Bansal, Adv. & Ms. Shweta Kashyap, Ca Respondent By : Sh. Anand Kumar Kedia, Cit(Dr) Date Of Hearing: 26.10.2015 Date Of Pronouncement: 22.01.2016 Order Per O.P. Kant, A.M.: The Present Appeal By The Assessee Is Directed Against The Order Dated 10.10.2013 Of The Deputy Commissioner Of Income-Tax, Circle-2(1), New Delhi Under Section 143(3) R.W.S. 144C Of The Income-Tax Act, 1961 (For Short “The Act”) In Relation To Assessment Year 2009-10. The Grounds Of Appeal Raised By The Assessee Are As Under: 1. That The Learned Assessing Officer ("Ao") Erred On The Facts & Circumstances Of The Case & In Law In Making An Addition To The Total Income Of The Appellant Amounting To Rs. 95,945,630/- In Pursuance To The Directions Of The Hon'Ble Dispute Resolution Panel ("Drp") Upholding The Adjustment To The Transfer Price Proposed By The Learned Transfer Pricing Officer ("Tpo").

For Appellant: S/sh. Mukesh Butani, Vishal Kalra & Vivek Bansal, AdvFor Respondent: Sh. Anand Kumar Kedia, CIT(DR)

Section 143(3)Section 92C(2)

…60-HC-AP-IT) for the proposition that observations in a judgement cannot be read out of context as laying down the law and must be examined in the light of the facts. 27 ITA No. 6638/Del/2013, AY: 2009-10 (iii) CIT vs. Baroda Peoples Co-operative Bank Ltd., 280 ITR 282 (Guj.) for the proposition that a decision takes its colour from the question involved. The scope and authority of a precedent should not be expanded beyond the needs of a given situation, mere casual expression carry no weight at all, nor every passing expression of a judge can be treated as an excathedra having the weight of authority (p. 298)…