CIT v. Jafari Momin Vikas Co-operative Credit Society Ltd.

362 ITR 331High Court2014#4851 most cited

What is CIT v. Jafari Momin Vikas Co-operative Credit Society Ltd. authority for?

Co-operative banks are considered co-operative societies for the purpose of Section 80P(2)(d), and interest earned from deposits with them is eligible for deduction under this section, as Section 80P(4) does not apply to them.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Jafari Momin Vikas Co-operative Credit Society Ltd. · 362 ITR 331 · section 80P(2)(d) · co-operative banks · co-operative societies · deduction · interest income · section 80P(4)

Sections most often in play

Section 143(3)Section 144BSection 194A(3)(v)Section 263Section 56Section 80PSection 80P(2)(a)(i)Section 80P(2)(d)

Issues it is cited on

section 80p(4)section 80p(2)(d)section 80p(2)section 56section 80pincome from other sourcessection 80section 143(3)total incomeinterest

Judgments citing CIT v. Jafari Momin Vikas Co-operative Credit Society Ltd.

Marathwada Nagari Sahakari Path Sanstha Maryadit, Kalyan vs. Assessing Officer, Ward 1(1), Kalyan

In the result, appeal of the assessee is allowed

ITA 3346/MUM/2025[2020-21]Status: DisposedITAT Mumbai18 Jul 2025AY 2020-21

Bench: Ms. Kavitha Rajagopal & Shri Prabhash Shankarmarathwada Nagari Sahakari V/S. Assessing Officer, Ward – Path Sanstha Maryadit, बनाम 1(1), Mohan Plaza, Wayle Shop No. 06, 1St Floor, Nagar, Khadakpada, Kalyan Dhamnikar Plaza, Bhiwandi, – 421301, Maharashtra Thane – 421302, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaam9150E Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Sushant Alme, ARFor Respondent: Shri Vivek Perampurna, (CIT- DR)
Section 143(3)Section 263Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…iety Ltd. vs. ACIT [2015] 377 ITR 272 (Bom. HC).  PCIT vs. Goa PWD Staff Co-operative Credit Society Ltd. [2016] 242 Taxman 0422 (Bom. HC.)  CIT vs. Gabriel India Ltd. [1993] 203 ITR 108 (Bom.)  CIT vs. Jafari Momin Vikash Co-op. Credit Society Ltd. [2014] 362 ITR 331 (Guj. HC.  ACIT vs. Metrocity Criminal Courts employees Mutually Aided co- op. Credit Society Ltd. [2015] 39 ITR (Trib.) Hyderabad.  In Lady Ratan Tower Cooperative Housing Society Ltd.  ACIT vs. People's Co-operative Credit Society Ltd. [2019] 180 DTR (Ahd) (SB) (Trib.) 444. 7. On the other hand, the ld. DR for the revenue supported the order…

Veej Company Sevakanchi Sahakari Path Sanstha Ltd., Kalyan vs. Assessing Officer, Ward 3(1), Kalyan

In the result, appeal of the assessee is allowed

ITA 3341/MUM/2025[2020-21]Status: DisposedITAT Mumbai18 Jul 2025AY 2020-21

Bench: Ms. Kavitha Rajagopal & Shri Prabhash Shankarveej Company Sevakanchi V/S. Assessing Officer, Ward – Sahakari Path Sanstha बनाम 3(1), Rani Mansion, 2Nd Ltd.,Shramik Sahakar, Usha Floor, Kalyan Murbad Road, Sankul Valiper Road, Oak Thane - 421 301, Baug, Thane - 421301, Maharashtra Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaam2266M Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Sushant Alme,ARFor Respondent: Shri Vivek Perampurna (CIT - DR)
Section 143(3)Section 263Section 56Section 80PSection 80P(2)Section 80P(2)(a)

…iety Ltd. vs. ACIT [2015] 377 ITR 272 (Bom. HC).  PCIT vs. Goa PWD Staff Co-operative Credit Society Ltd. [2016] 242 Taxman 0422 (Bom. HC.)  CIT vs. Gabriel India Ltd. [1993] 203 ITR 108 (Bom.)  CIT vs. Jafari Momin Vikash Co-op. Credit Society Ltd. [2014] 362 ITR 331 (Guj. HC.  ACIT vs. Metrocity Criminal Courts employees Mutually Aided co- op. Credit Society Ltd. [2015] 39 ITR (Trib.) Hyderabad.  In Lady Ratan Tower Cooperative Housing Society Ltd.  ACIT vs. People's Co-operative Credit Society Ltd. [2019] 180 DTR (Ahd) (SB) (Trib.) 444. 7. On the other hand, the ld. DR for the revenue supported the order…

The Modasa Dhansura Taluka Teachers Co.Op. Credit Society Ltd., Arvalli vs. The ACIT, Hmt Circle, Himatnagar Present Jurisdiction the Dy.CIT, Circle-2(1)(1), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1478/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad28 Oct 2024AY 2017-18

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1478/Ahd/2024 िनधा"रण वष" /Assessment Year : 2017-18 The Modasa Dhansura Taluka The Acit बनाम/ Teachers Co-Op.Credit Hmt Circle, Himatnagar V/S. Society Ltd. Present Jurisdiction - S/43, 2Nd Floor The Dy.Cit, Circle-2(1)(1) Shyam Sunder Complex Ahmedabad – 380 015 Station Road, At & Po Modasa Ta. Modasa Aravalli 383 315 (Gujarat) "थायी लेखा सं./Pan:Aabat 2852 M अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri Dhinal Shah, Ar Revenue By : Shri V.K. Mangla, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 16/10/2024 घोषणा की तारीख /Date Of Pronouncement: 28/10/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri Dhinal Shah, ARFor Respondent: Shri V.K. Mangla, Sr.DR
Section 143(2)Section 143(3)Section 250Section 56Section 80PSection 80P(2)(d)Section 80P(4)

…ee by the Hon’ble jurisdictional Gujarat High Court and various Co- ordinate Benches of the Tribunal. In the case of Pr. CIT vs. Ekta Co-operative Credit Society Ltd. (402 ITR 85) and in the case of CIT vs. Jafari Momin Vikas Co-operative Credit Society Ltd. (362 ITR 331), the Gujarat High Court held that co-operative banks are co-operative societies for the purposes of Section 80P(2)(d) of the Act, and therefore, interest earned from deposits with co-operative banks qualifies for deduction under this section. In the case of Shrinath Co-operative Credit Society Ltd. vs. ACIT (ITA Nos. 389, 390 & 391/Ahd/2022), th…

The Brahmarshi Co Opp Credit Society Limited, Arvalli vs. Assessing Officer, Circle, Himatnagar, Arvalli

In the result, the appeal of the assessee is partly allowed

ITA 243/AHD/2021[2017-18]Status: DisposedITAT Ahmedabad06 May 2022AY 2017-18
For Appellant: NoneFor Respondent: Shri V.K. Singh, Sr. D.R
Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…efore the interest is deductible under Section 80P (2)(a)(i) as per following cases: i. Pr. CIT Vs Ekta Co-operative Credit Society Ltd. 91 taxmann.com 42-402 ITR 85 (Guj.) ii. CIT Vs Jafari Momin Vikas Co-operative Credit Society Ltd 2014, 49 taxmann.com 571 362 ITR 331 [Guj.) iii. ACIT Vs. Peoples Co.op. Credit Society Ltd. 2019 107 taxmann.com 53 (Ahmedabad-Trib.) (SB) 2019 177 ITD 25 (Ahmedabad - Trib.) (SB) and further investment made it out of operational funds and not out of surplus funds and therefore the SC decision in case of Totgars Co.op. Sale Society Ltd Vs. ITO 322 ITR 283 is not applicable on the f…

Asstt. CIT-27(3), Navi Mumbai vs. M/S the Bharat Petroleum Corpn., Mumbai

The appeal of the Revenue is dismissed

ITA 1939/MUM/2020[2013-14]Status: DisposedITAT Mumbai01 Oct 2021AY 2013-14

Bench: Shri Pramod Kumar () & Shri Ravish Sood () Acit-27(3) M/S The Bharat Petroleum Room No. 423, 4Th Floor, Tower Vs. Corporation Limited, No. 6, Vashi Railway Station C/O Bpcl, Refining Division, Complex, Vashi, Mahul, Mumbai – 400 704 Navi Mumbai – 400 703 Pan No. Aaajt0226F (Revenue) (Assessee) Assessee By : Ms. Dinkle Haria, A.R Revenue By : Shri Tharian Oommen, D.R Date Of Hearing : 29/09/2021 Date Of Pronouncement : 01/10/2021 Order Per Ravish Sood, J.M:

For Appellant: Ms. Dinkle Haria, A.RFor Respondent: Shri Tharian Oommen, D.R
Section 143(2)Section 143(3)Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…Before us the ld. Representative of the assessee, at the outset, pointed out that the conclusion drawn by the ld. CIT(A) is in accordance with judgment of Hon‟ble Gujarat High Court in the case of CIT vs. Jafari Momin Vikas Co. Op. Credit Society Ltd. [2014] 362 ITR 331 (Guj). In this context the following discussion in the judgment of Hon‟ble Gujarat High Court is relevant:- “The Assessing Officer held that by virtue of section 80P(4), the respondent-assessee would not be entitled to the benefits of deduction under section 80P. The Commissioner (Appeals) as well as the Tribunal reversed the decision of the Asse…

M/S. Himachal Culture Association Co-Op Credit Society Ltd., Mumbai vs. Assistant Commissioner of Income Tax, CPC, Bangalore

In the result, the appeal of the assessee is allowed

ITA 5273/MUM/2019[2015-16]Status: DisposedITAT Mumbai03 Feb 2021AY 2015-16

Bench: Shri Rajesh Kumar & Shri Pavan Kumar Gadaleassessment Year: 2015-16

For Appellant: Dr. P. Daniel, A.RFor Respondent: Shri Gurbinder Singh, D.R
Section 143(1)Section 154Section 80Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “H”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment Year: 2015-16 M/s. Himachal Culture ACIT, CPC, Association Co-op. Credit Post Bag 8, Society Ltd., EPO, Bangalore, 302, 3rd Floor, Karnataka- 560100 Nirmal Industrial Estate, Vs. Plot No.109, Opp. Nehru Garden, Sion (E), Mumbai – 400 022 PAN: AAAAH5036L (Appellant) (Respondent) Present for: Assessee by : Dr. P. Daniel, A.R. Revenue by : Shri Gurbinder Singh, D.R. Date of Hearing : 21.01.2021 Date of Pronouncement : 03.02.2021 O R D E R Per Rajesh Ku…

Vadasinor Pragati Samaj Co-Op.Credit Society Ltd., Mumbai vs. Pr. CIT -18, Mumbai

In the result, appeal of the assessee is allowed

ITA 2539/MUM/2019[2014-15]Status: DisposedITAT Mumbai13 Dec 2019AY 2014-15

Bench: Shri Pawan Singh & Shri S. Rifaur Rahmanm/S Vadasinor Pragati Samaj Principal Commissioner Of Co-Operative Credit Society Ltd. Income Tax – 18 45/49, 1St Floor, Babu Genu Road, Vs. Mumbai. Kalbadevi, Mumbai-400002. Pan: Aaaav6905G Appellant Respondent

For Appellant: Shri Sanjay S. Parikh (AR)For Respondent: Shri Sushil Kumar Poddar (CIT-DR)
Section 143(2)Section 143(3)Section 254(1)Section 263Section 80P(2)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “F” BENCH MUMBAI BEFORE SHRI PAWAN SINGH JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER M/s Vadasinor Pragati Samaj Principal Commissioner of Co-operative Credit Society Ltd. Income Tax – 18 45/49, 1st Floor, Babu Genu Road, Vs. Mumbai. Kalbadevi, Mumbai-400002. PAN: AAAAV6905G Appellant Respondent Appellant by : Shri Sanjay S. Parikh (AR) Respondent by : Shri Sushil Kumar Poddar (CIT-DR) Date of Hearing : 04.12.2019 Date of Pronouncement : 13.12.2019 ORDERUNDER SECTION 254(1)OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER; 1. This appeal by assessee…

The ACIT, B.K.Circle, Palanpur vs. The Samarpan Co.Op. Credit Society Ltd., Banaskantha

In the result, all the appeals as also the cross-objections are dismissed

ITA 2905/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2007-08
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

The ACIT, B.K.Circle, Palanpur vs. The Samarpan Co.Op. Credit Society Ltd., Banaskantha

In the result, all the appeals as also the cross-objections are dismissed

ITA 2871/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2009-10
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

The ACIT, B.K.Circle, Palanpur vs. The Bhildi Mercantile Credit Co.Op.Society Ltd., Banaskantha

In the result, all the appeals as also the cross-objections are dismissed

ITA 2866/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2009-10
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

The ACIT, B.K.Circle, Palanpur vs. The Bhildi Mercantile Credit Co.Op.Society Ltd., Banaskantha

In the result, all the appeals as also the cross-objections are dismissed

ITA 2865/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2007-08
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

The ACIT, B.K.Circle, Patan vs. The People'S Co, Op.Credit Society Ltd., Deesa

In the result, all the appeals as also the cross-objections are dismissed

ITA 2670/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2009-10
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

The ACIT, B.K.Circle, Patan vs. The People'S Co, Op.Credit Society Ltd., Deesa

In the result, all the appeals as also the cross-objections are dismissed

ITA 2669/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2008-09
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

The ACIT, B.K.Circle, Patan vs. The People'S Co, Op.Credit Society Ltd., Deesa

In the result, all the appeals as also the cross-objections are dismissed

ITA 2668/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad18 Apr 2019AY 2007-08
Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…ed, in favour of the assessee, by various decisions of Hon’ble jurisdictional High Court – including in the cases of PCIT Vs. Ekta Co-operative Credit Society Ltd [(2018) 402 ITR 85 (Guj)] and CIT Vs. Jafari Momin Vikas Co-operative Credit Society Ltd [(2014) 362 ITR 331 (Guj)]. Learned Departmental Representatives, however, dutifully relied upon the stand of the Assessing Officer. 3. We find that, in the case of Ekta Co-operative Credit Society (supra), Hon’ble jurisdictional High Court has observed as follows:- “2. The assessee filed its return of income for assessment year 2010-11 showing 'nil' income after…

Sardar Nagrik Sahakari Bank Ltd., Vadodara vs. ITO, Ward 3(1)(3), Baroda

In the result, the appeal of the assessee is partly allowed

ITA 2157/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2014-15

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita Nos.2156 & 2157/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2013-2014 & 2014-2015 Sardar Nagrik Sahakari Bank Ltd Ito, ‘’B’’, Alankar Apartment, Ward 3(1)(3), Vs. Parkarwada, Dandia Bazar, Baroda. Vadodara. Pan: Aaabt2648D

For Respondent: Shri Vinod Talwani, Sr.DR
Section 80PSection 80P(2)(a)

…dia (SBI) Vs CIT [2016] 72 taxmann.com 64 (Gujarat) wherein all cases on this issue including Apex Court decision in the case of Totgars Co-operative Sale Society v. ITO [2010] 322 ITR 283(SC) and CIT vs jafari Momin in Vikas Co-op. Credit Society Ltd. [2014] 362 ITR 331 (Guj.) were considered. Hon'ble Gujarat High Court has followed Totgars Co-operative Sale Society (Supra) and distinguished Jafari Momin Vjkas Co-op. Credit Society Ltd. (Supra) as well as CIT Vs Baroda Peoples Co-op. Bank Ltd. [2005] 280 !TR 282 (Guj.). Another landmark decision of Tumkur Merchants Souharda Credit Co-operative Ltd. Vs ITO [2015]…

Sardar Nagrik Sahakari Bank Ltd., Vadodara vs. ITO, Ward 3(1)(3), Baroda

In the result, the appeal of the assessee is partly allowed

ITA 2156/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2013-14

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita Nos.2156 & 2157/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2013-2014 & 2014-2015 Sardar Nagrik Sahakari Bank Ltd Ito, ‘’B’’, Alankar Apartment, Ward 3(1)(3), Vs. Parkarwada, Dandia Bazar, Baroda. Vadodara. Pan: Aaabt2648D

For Respondent: Shri Vinod Talwani, Sr.DR
Section 80PSection 80P(2)(a)

…dia (SBI) Vs CIT [2016] 72 taxmann.com 64 (Gujarat) wherein all cases on this issue including Apex Court decision in the case of Totgars Co-operative Sale Society v. ITO [2010] 322 ITR 283(SC) and CIT vs jafari Momin in Vikas Co-op. Credit Society Ltd. [2014] 362 ITR 331 (Guj.) were considered. Hon'ble Gujarat High Court has followed Totgars Co-operative Sale Society (Supra) and distinguished Jafari Momin Vjkas Co-op. Credit Society Ltd. (Supra) as well as CIT Vs Baroda Peoples Co-op. Bank Ltd. [2005] 280 !TR 282 (Guj.). Another landmark decision of Tumkur Merchants Souharda Credit Co-operative Ltd. Vs ITO [2015]…

The Peeeoples Co. Op.Credit Society Ltd., Anand vs. ITO, Ward-1(3)(2), Petlad

In the result, appeal filed by the Assessee is dismissed

ITA 1708/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad30 Nov 2018AY 2012-13

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

For Appellant: NoneFor Respondent: Shri Lalit P. Jain, Sr. D.R
Section 143(2)Section 80PSection 80P(2)(a)

…es Co-op Credit & Supply Society Ltd Vs Commissioner Of Income Tax in Tax Appeal No.486 & 487 Dated,25.04.2016 [20161 72 taxmann.com 64 (Gutarat) by distinguishing its earlier decision In the case of CJT v. Jafari Momin Vikas Co-op, Credit Society Ltd. [20141 362 ITR 331/227 Taxman 59/49 taxmann.com 571 (Guj.) has held that interest income earned from deposits from banks is not exempt U/s80P(2)(a)(i) of the Income tax Act and thereby followed the order of Hon,ble Apex Court in the case of Totgar Co-op Sale Soc Ltd Vs ITO (SO 322 ITR 283: 35DTR25. 6 From the above it can be seen that subsequent to the decision of…

The Khanpur Vibhag Madhyamik Shala Karmachari Dgiran & Grahak Sahakari Mandali Ltd, Mahisagar vs. Income Tax Officer, Lunawada

In the result, appeal filed by the Assessee is dismissed

ITA 1537/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad30 Nov 2018AY 2015-16

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

For Appellant: NoneFor Respondent: Shri Lalit P. Jain, Sr. D.R
Section 80P(2)(a)Section 80P(2)(c)

…es Co-op Credit & Supply Society Ltd Vs Commissioner Of Income Tax in Tax Appeal No.486 & 487 Dated,25.04.2016 [20161 72 taxmann.com 64 (Gutarat) by distinguishing its earlier decision In the case of CJT v. Jafari Momin Vikas Co-op, Credit Society Ltd. [20141 362 ITR 331/227 Taxman 59/49 taxmann.com 571 (Guj.) has held that interest income earned from deposits from banks is not exempt U/s80P(2)(a)(i) of the Income tax Act and thereby followed the order of Hon,ble Apex Court in the case of Totgar Co-op Sale Soc Ltd Vs ITO (SO 322 ITR 283: 35DTR25. 6 From the above it can be seen that subsequent to the decision of…

Railwaymens Co. Op. Credit Society Limited, Vadodara vs. ITO, Ward-3(1)(3), Vadodara

In the result, appeal filed by the Assessee is dismissed

ITA 1491/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad30 Nov 2018AY 2015-16

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

For Appellant: NoneFor Respondent: Shri Lalit P. Jain, Sr. D.R
Section 142(1)Section 234BSection 271Section 56Section 80PSection 80P(2)(a)

…es Co-op Credit & Supply Society Ltd Vs Commissioner Of Income Tax in Tax Appeal No.486 & 487 Dated,25.04.2016 [20161 72 taxmann.com 64 (Gutarat) by distinguishing its earlier decision In the case of CJT v. Jafari Momin Vikas Co-op, Credit Society Ltd. [20141 362 ITR 331/227 Taxman 59/49 taxmann.com 571 (Guj.) has held that interest income earned from deposits from banks is not exempt U/s80P(2)(a)(i) of the Income tax Act and thereby followed the order of Hon,ble Apex Court in the case of Totgar Co-op Sale Soc Ltd Vs ITO (SO 322 ITR 283: 35DTR25. 6 From the above it can be seen that subsequent to the decision of…

The Janakalyan Cooperative Credit Society Limited, North 24 Parganas vs. ITO, Ward - 11(2), Kolkata

In the result, Tax Appeals are dismissed

ITA 1060/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Sept 2018AY 2012-13

Bench: Shri S.S, Godaraassessment Year:2012-13

Section 143(3)Section 80PSection 80P(1)Section 80P(2)Section 80P(4)

…ntends during the course of hearing that the CIT(A) has rightly held the assessee to be a co-operative bank since deriving interest income from its members alike on bank. I find no merit in the instant reasoning hon'ble Gujarat high court’s decision in (2014) 362 ITR 331 (Guj) CIT vs. Jafari Momi Vikas Co-Op Credit Society Ltd., has rejected the identical reasoning in case of co-operative credit society after taking into account the CBDT’s 133/2007 dated 09.05.2007 as follows:- “3. Issue pertains interpretation of section to 80P(2) and 80P(4) of the Income Tax Act, 1964 ("the Act" for short). Respondent assessee…