What is CIT v. Kangra Co-operative Bank Ltd. authority for?

Interest earned by a co-operative bank on fixed deposits with another co-operative bank, when made in compliance with co-operative societies act provisions, is eligible for deduction under Section 80P(2)(a)(i) and Section 80P(2)(d) of the Income Tax Act.

How many judgments cite CIT v. Kangra Co-operative Bank Ltd.?

29 judgments on BharatTax cite CIT v. Kangra Co-operative Bank Ltd. (309 ITR 106), spanning 2015 to 2025.

Which sections of the Income Tax Act does CIT v. Kangra Co-operative Bank Ltd. come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(4), Section 80P(2)(a)(i), Section 147, Section 144, Section 144B.

CIT v. Kangra Co-operative Bank Ltd. (309 ITR 106)

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CUDDALORE , CUDDALORE vs. KALLAKURICHI II CO-OPERATIVE SUGAR MILLS LTD., KACHIRAPALAYAM

ITA 2405/CHNY/2025[2018-19]Status: DisposedITAT Chennai28 Nov 2025AY 2018-19

Bench: Shri George George K & Shri Jagadish

For Appellant: Ms. E. Pavuna Sundari, CITFor Respondent: Shri S. Venugopalan, CA

Section 147Section 250Section 80Section 80P(2)(a)Section 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the ld.CIT (Appeals confirmed the order passed by the ld.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co- operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from banki…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CUDDALORE , CUDDALORE vs. KALLAKURICHI II CO-OPERATIVE SUGAR MILLS LTD., KACHIRAPALAYAM

ITA 2404/CHNY/2025[2017-18]Status: DisposedITAT Chennai28 Nov 2025AY 2017-18

Bench: Shri George George K & Shri Jagadish

For Appellant: Ms. E. Pavuna Sundari, CITFor Respondent: Shri S. Venugopalan, CA

Section 147Section 250Section 80Section 80P(2)(a)Section 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the ld.CIT (Appeals confirmed the order passed by the ld.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co- operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from banki…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CUDDALORE , CUDDALORE vs. KALLAKURICHI II CO-OPERATIVE SUGAR MILLS LTD., KACHIRAPALAYAM

ITA 2403/CHNY/2025[2016-17]Status: DisposedITAT Chennai28 Nov 2025AY 2016-17

Bench: Shri George George K & Shri Jagadish

For Appellant: Ms. E. Pavuna Sundari, CITFor Respondent: Shri S. Venugopalan, CA

Section 147Section 250Section 80Section 80P(2)(a)Section 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the ld.CIT (Appeals confirmed the order passed by the ld.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co- operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from banki…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CUDDALORE, CUDDALORE vs. KALLAKURICHI-II CO-OPERATIVE SUGAR MILLS LTD., KACHIRAPALAYAM

ITA 2401/CHNY/2025[2013-14]Status: DisposedITAT Chennai28 Nov 2025AY 2013-14

Bench: Shri George George K & Shri Jagadish

For Appellant: Ms. E. Pavuna Sundari, CITFor Respondent: Shri S. Venugopalan, CA

Section 147Section 250Section 80Section 80P(2)(a)Section 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the ld.CIT (Appeals confirmed the order passed by the ld.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co- operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from banki…

DCIT AKOLA CIRCLE, AKOLA, AKOLA vs. THE AKOLA JANATA COMMERCIAL CO-OPERATIVE BANK LTD., AKOLA

In the result, Revenue’s appeal is dismissed

ITA 189/NAG/2025[2020-21]Status: DisposedITAT Nagpur22 Sept 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

For Appellant: Shri S.G. GandhiFor Respondent: Shri Pankaj Kumar

Section 143(1)Section 143(3)Section 147Section 154

…at in the aforesaid decision, the Bench duly considered the decision in Totagar Cooperative Sale Society Ltd. 322 ITR 283 (Supreme Court), Mittal Court Premises Cooperative Society Ltd. vs Income Tax Officer 320 ITR 414 and CIT vs Kangra Cooperative Bank Ltd. 309 ITR 106. Identical ratio was laid down by the Mumbai Bench in Sea Grean Co-operative Hsg. Society vs Income Tax Officer (ITA No.1343/Mum/2017) order dated 31/03/2017. Following the aforesaid decisions and keeping in view, the principle of consistency, the appeal of the assessee is allowed.” 5. From the perusal of records, we notice that facts for the yea…

INCOME TAX OFFICER -22(2)(1), MUMBAI, PAREL vs. M.T.N.L. MUMBAI EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LTD. , MUMBAI

The appeal of the assessee is allowed

ITA 5127/MUM/2024[2017]Status: DisposedITAT Mumbai02 Dec 2024

Bench: Shri Saktijit Dey & Ms Padmavathy S, Am

For Appellant: Shri R.R. Makwana, Sr. DR

Section 143(3)Section 5Section 80PSection 80P(2)(d)

…at in the aforesaid decision, the Bench duly considered the decision in Totagar Cooperative Sale Society Ltd. 322 ITR 283 (Supreme Court), Mittal Court Premises Cooperative Society Ltd. vs Income Tax Officer 320 ITR 414 and CIT vs Kangra Cooperative Bank Ltd. 309 ITR 106. Identical ratio was laid down by the Mumbai Bench in Sea Grean Co-operative Hsg. Society vs Income Tax Officer (ITA No.1343/Mum/2017) order dated 31/03/2017. Following the aforesaid decisions and keeping in view, the principle of consistency, the appeal of the assessee is allowed.” 5. From the perusal of records, we notice that facts for the yea…

INCOME TAX OFFICER -22(2)(1), MUMBAI, PAREL vs. M.T.N.L. MUMBAI EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LTD. , MUMBAI

The appeal of the assessee is allowed

ITA 5125/MUM/2024[2018-19]Status: DisposedITAT Mumbai02 Dec 2024AY 2018-19

Bench: Shri Saktijit Dey & Ms Padmavathy S, Am

For Appellant: Shri R.R. Makwana, Sr. DR

Section 143(3)Section 5Section 80PSection 80P(2)(d)

…at in the aforesaid decision, the Bench duly considered the decision in Totagar Cooperative Sale Society Ltd. 322 ITR 283 (Supreme Court), Mittal Court Premises Cooperative Society Ltd. vs Income Tax Officer 320 ITR 414 and CIT vs Kangra Cooperative Bank Ltd. 309 ITR 106. Identical ratio was laid down by the Mumbai Bench in Sea Grean Co-operative Hsg. Society vs Income Tax Officer (ITA No.1343/Mum/2017) order dated 31/03/2017. Following the aforesaid decisions and keeping in view, the principle of consistency, the appeal of the assessee is allowed.” 5. From the perusal of records, we notice that facts for the yea…

INCOME TAX OFFICER -22(2)(1), MUMBAI, PAREL vs. M.T.N.L. MUMBAI EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LTD. , MUMBAI

The appeal of the assessee is allowed

ITA 5122/MUM/2024[2020-21]Status: DisposedITAT Mumbai02 Dec 2024AY 2020-21

Bench: Shri Saktijit Dey & Ms Padmavathy S, Am

For Appellant: Shri R.R. Makwana, Sr. DR

Section 143(3)Section 5Section 80PSection 80P(2)(d)

…at in the aforesaid decision, the Bench duly considered the decision in Totagar Cooperative Sale Society Ltd. 322 ITR 283 (Supreme Court), Mittal Court Premises Cooperative Society Ltd. vs Income Tax Officer 320 ITR 414 and CIT vs Kangra Cooperative Bank Ltd. 309 ITR 106. Identical ratio was laid down by the Mumbai Bench in Sea Grean Co-operative Hsg. Society vs Income Tax Officer (ITA No.1343/Mum/2017) order dated 31/03/2017. Following the aforesaid decisions and keeping in view, the principle of consistency, the appeal of the assessee is allowed.” 5. From the perusal of records, we notice that facts for the yea…

K1104 ELAAMUTHUR PRIMARY AGRICULTURAL CO-OPERATIVE CREDIT SCOIETY,TIRUPPUR vs. ITO, WARD 2(4), TIRUPPUR

In the result, appeals filed by the assessee for both the

ITA 1041/CHNY/2024[2017-18]Status: DisposedITAT Chennai18 Sept 2024AY 2017-18

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 1040 & 1041/Chny/2024 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 K 1104 Elayamuthur Primary Income Tax Officer, Agricultural Co-Operative Credit V. Ward -2(4), Society, Tirupur. Elayamuthur, Udumalpet, Tirupur – 642 154. [Pan: Aabak-3636-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. R.V. Aroonprasaad, Addl.Cit सुनवाईकीतारीख/Date Of Hearing : 23.07.2024 घोषणाकीतारीख/Date Of Pronouncement : 18.09.2024

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT

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

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from bankin…

K1104 ELAYAMUTHUR PROMARY AGRICULTURAL CO-OPERATIVE CREDIT SOCIETY,TIRUPPUR vs. ITO, WARD 2(4), TIRUPPUR

In the result, appeals filed by the assessee for both the

ITA 1040/CHNY/2024[2016-17]Status: DisposedITAT Chennai18 Sept 2024AY 2016-17

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 1040 & 1041/Chny/2024 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 K 1104 Elayamuthur Primary Income Tax Officer, Agricultural Co-Operative Credit V. Ward -2(4), Society, Tirupur. Elayamuthur, Udumalpet, Tirupur – 642 154. [Pan: Aabak-3636-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. R.V. Aroonprasaad, Addl.Cit सुनवाईकीतारीख/Date Of Hearing : 23.07.2024 घोषणाकीतारीख/Date Of Pronouncement : 18.09.2024

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT

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

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from bankin…

THE ERODE AGRICULTURAL PRODUCERS CO-OPERATIVE MARKETTING SOCIETY LIMITED,ERODE vs. PCIT, COIMBATORE

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

ITA 546/CHNY/2022[2017-2018]Status: DisposedITAT Chennai17 Feb 2023AY 2017-2018

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.546/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 The Erode Agricultural Producers Co- Vs. The Principal Commissioner Of Operative Marketing Society Limited, Income Tax – Coimbatore 1, No. 293, Cauvery Road, 67-A, Race Course Road, Karungalpalayam, Erode 638 003. Coimbatore 641 018. [Pan:Aaaat8556D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sridhar, Advocate [Erode] ""थ" की ओर से/Respondent By : Shri S. Senthil Kumaran, Cit सुनवाई की तारीख/ Date Of Hearing : 08.02.2023 घोषणा की तारीख /Date Of Pronouncement : 17.02.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Principal Commissioner Of Income Tax – Coimbatore 1, Coimbatore, Dated 23.03.2022 Relevant To The Assessment Year 2017-18 Passed Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

For Appellant: Shri S. Sridhar, Advocate [Erode]For Respondent: Shri S. Senthil Kumaran, CIT

Section 143(2)Section 143(3)Section 263Section 80P(2)(d)

…e income from investment with the Bank is not entitled for deduction under section 80P(2)(d) of the Act. On appeal, the ld. CIT(Appeals confirmed the order passed by the ld. CIT(Appeals). We find that in the case of CIT v. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon’ble Himachal Pradesh High Court has considered section 80P(2)(d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from banking b…

M/S.NLC INDCOSERVE,CUDDALORE vs. INCOME TAX OFFICER,WARD-2,, CUDDALORE

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

ITA 900/CHNY/2020[2016-17]Status: DisposedITAT Chennai08 Jun 2022AY 2016-17

Bench: Shri Mahavir Singhand Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri. AR V Sreenivasan, Addl. CIT

Section 143(3)Section 72Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(2)(vi)

…he Co-operative Bank and not qualify for deduction under section 80P(2)(d) of the Act. 6. Before us, ld. Counsel for the assessee, while relying on the decision of Hon’ble Himachal Pradesh High Court in the case of CIT v. Kangra Co- operative Bank Ltd. [2009] 309 ITR 106 (HP), prayed that the claim of deduction under section 80P(2)(d) should also be allowed. 7. On the other hand, the ld. DR relied on the orders of authorities below. 8. We have heard both sides, perused the materials on record and gone through the orders of authorities below. The case of the assessee is that the income by way of interest and divid…

M/S. KALLAKURICHI CO-OPERATIVE SUGAR MILLS LTD.,KALLAKURICHI vs. ACIT, VILLUPURAM

In the result, the appeals filed by the assessee in ITA

ITA 410/CHNY/2020[2012-13]Status: DisposedITAT Chennai25 Apr 2022AY 2012-13

Bench: Shri Mahavir Singh, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.369/Chny/2019 & Ita Nos.409 & 410/Chny/2020 िनधा"रण वष" /Assessment Year: 2015-16 & Assessment Years: 2011-12 & 2012-13 V. M/S.Kallakurichi Co-Operative- The Asst. Commissioner- Sugar Mills Unit-Ii, Of Income Tax, Cs11, Kachirapalayam, Villupuram Circle, Kallakurichi, Villupuram. Villupuram. [Pan: Aaaak 0655 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mr.Sanat Kumar Raha

Section 143Section 143(3)Section 147Section 2(19)Section 56Section 80PSection 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative ITA No.369/Chny/2019 & ITA Nos.409 & 410/Chny/2020…

M/S. KALLAKURICHI CO-OPERATIVE SUGAR MILLS LTD.,KALLAKURICHI vs. ACIT, VILLUPURAM

In the result, the appeals filed by the assessee in ITA

ITA 409/CHNY/2020[2011-12]Status: DisposedITAT Chennai25 Apr 2022AY 2011-12

Bench: Shri Mahavir Singh, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.369/Chny/2019 & Ita Nos.409 & 410/Chny/2020 िनधा"रण वष" /Assessment Year: 2015-16 & Assessment Years: 2011-12 & 2012-13 V. M/S.Kallakurichi Co-Operative- The Asst. Commissioner- Sugar Mills Unit-Ii, Of Income Tax, Cs11, Kachirapalayam, Villupuram Circle, Kallakurichi, Villupuram. Villupuram. [Pan: Aaaak 0655 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mr.Sanat Kumar Raha

Section 143Section 143(3)Section 147Section 2(19)Section 56Section 80PSection 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative ITA No.369/Chny/2019 & ITA Nos.409 & 410/Chny/2020…

M/S. KALLAKURICHI CO-OPERATIVE SUGAR MILLS LTD.,KALLAKURICHI vs. ACIT, VILLUPURAM

In the result, the appeals filed by the assessee in ITA

ITA 369/CHNY/2019[2015-16]Status: DisposedITAT Chennai25 Apr 2022AY 2015-16

Bench: Shri Mahavir Singh, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.369/Chny/2019 & Ita Nos.409 & 410/Chny/2020 िनधा"रण वष" /Assessment Year: 2015-16 & Assessment Years: 2011-12 & 2012-13 V. M/S.Kallakurichi Co-Operative- The Asst. Commissioner- Sugar Mills Unit-Ii, Of Income Tax, Cs11, Kachirapalayam, Villupuram Circle, Kallakurichi, Villupuram. Villupuram. [Pan: Aaaak 0655 Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mr.Sanat Kumar Raha

Section 143Section 143(3)Section 147Section 2(19)Section 56Section 80PSection 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative ITA No.369/Chny/2019 & ITA Nos.409 & 410/Chny/2020…

ITO 21(2)(2), MUMBAI vs. MTNL MUMBAI EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD., MUMBAI

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 3733/MUM/2019[2014-15]Status: DisposedITAT Mumbai27 Jan 2021AY 2014-15

For Appellant: Deepak Tikekar, ARFor Respondent: Shri Bharat Anahale (DR)

Section 143(2)Section 56Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…e Ld A.R submitted that the fact that the cooperative banks are basically co-operative societies only cannot be denied. H$ submitted that the Hon'ble High Court of Himachal Pradesh has taken the view in the case of CIT Vs. Kangra Co- operative bank Ltd (2009)(309 ITR 106) that co-operative banks are cooperative societies and hence the interest income from investments made in any co-operative society could be entitled for deduction u/s 8QP(2)(d) of the Act. He submitted identical claim made in respect of interest income earned from cooperative banks has been allowed by the SMC bench in the case of MurudeSahakariPa…

ITO CORPORATE WARD 3(2), CHENNAI vs. CHENNAI TEACHERS GUILD CO-OPERATIVE SOCIETY LTD., CHENNAI

In the result, the Revenue’s appeal is dismissed

ITA 1379/CHNY/2019[2016-17]Status: DisposedITAT Chennai20 Feb 2020AY 2016-17

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Respondent: Shri. B. Suresh, CA

Section 80PSection 80P(2)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court :-5-: has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from…

SUBRAMANIA SIVA CO-OPERATIVE SUGAR MILLS LTD,DHARMAPURI vs. ITO, DHARMAPURI

In the result, the assessee’s appeal is allowed

ITA 1378/CHNY/2019[2015-16]Status: DisposedITAT Chennai20 Feb 2020AY 2015-16

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Appellant: Shri. G. Baskar, Advocate &

Section 57Section 80Section 80PSection 80P(2)Section 80P(2)(d)

…come from investment with the Bank is not entitled for deduction under Section 80 P (2) (d) of the Act. On appeal, the Id.CIT (Appeals confirmed the order passed by the Id.CIT (Appeals). We find that in the case of CIT Vs. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), the Hon'ble Himachal Pradesh High Court has considered Section 80 P (2) (d) of the Act. The interest earned by the assessee co-operative bank on fixed deposits with Himachal Pradesh State Co-operative Bank in compliance with the provisions of Section 57 of the Himachal Pradesh Co-operative Societies Act, 1968, the income derived from bankin…

MUMBAI VIDI TAMBAKHU VYAPARI SAHAKARI PATPEDHI LIMITED,MUMBAI vs. INCOME TAX OFFICER-21(2)(3), MUMBAI

In the result the appeals of the assessee are hereby allowed

ITA 6168/MUM/2017[2010-11]Status: DisposedITAT Mumbai30 Jan 2019AY 2010-11

Bench: Shri Amarjit Singh, Jm & Shri N. K . Pradhan, Am आयकर अपील सं/ I.T.A. No.6168/Mum/2017, 6169/Mum/2017 & 6170/Mum/2017 (निर्धारण वर्ा / Assessment Years: 2010-11, 2012-13 & 2013-14) M/S. Mumbai Vidi बिधम/ The Income Tax Officer 21(2)(3) Tambakhu Vyapari Vs. First Floor, Piramal Sahakari Patpedhi Ltd. Chambers, Shop Nos. 1,10,12 Lalbag, Sahajeevan Chs Ltd., Mumbai - 400012 N.M. Joshi Marg, Deepak Cinema, Parel Mumbai - 400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabtm7309P (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Ramesh S. Iyer Revenue By: Shri Manojkumar Singh (Dr)

For Appellant: Shri Ramesh S. IyerFor Respondent: Shri Manojkumar Singh (DR)

Section 143(2)Section 147Section 148Section 2(24)(viia)Section 80P(2)(a)Section 80P(2)(c)Section 80P(4)

…[ITA No.100066 of 2016 & Ors. Dated 16.06.2017]. It was also noticed that the Hon’ble High Court of Himachal Pradesh has also considered an identical issue and has taken its view in favour of the assessee in the case of CIT Vs. Kangra Co-operative Bank Ltd. (309 ITR 106). Accordingly, the Tribunal by following the decision rendered in the case of Kangra Co-operative Bank Ltd. (supra) has held that the interest income earned on deposits kept with Co-operative Banks would be eligible for deduction u/s.80P(2)(d) of the Act by following the principles laid down by the Hon’ble Supreme Court in the case of Vegetable P…

GRAIN MERCHANTS CO-OP.HSG. LTD,MUMBAI vs. PR.CIT-28, MUMBAI

In the result , the appeal of the assessee is partly allowed as indicated above

ITA 2187/MUM/2018[2013-14]Status: DisposedITAT Mumbai25 Jul 2018AY 2013-14

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2187/Mum/2018 (नििाारण वर्ा / Assessment Year: 2013-14) बिाम/ Grain Merchants Co- Pr. Cit-28 Operative Housing Society Mumbai Ltd, Plot No. 26/35, Sec-17, V. Vashi, Navi Mumbai-400705 स्थायी ऱेखा सं./ Pan : Aaaag3973H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri. M. SubramanianFor Respondent: Shri. Abhijit Patankar,CIT-DR

Section 143Section 143(3)Section 263Section 56Section 80PSection 80P(2)(c)Section 80P(2)(d)Section 80P(4)

…2009- 10 dated 15.01.2016 , decision of Hon‟ble Punjab and Haryana High Court in the case of CIT v. Haryana State Co-Operative Society (1998) 234 ITR 714(P&H HC) , decision of Hon‟ble Himachal Pradesh in the case of CIT v. Kangra Cooperative Bank Ltd. (2009) 309 ITR 106( HP HC.), and decision of Hon‟ble Supreme Court in the case of CIT(Central) v. Max India Ltd. (2007) 295 ITR 282(SC). The Ld. CIT-DR on the other hand submitted that the assessment order of the AO is a cryptic order and no enquiry was made by the AO to enquire into and verify whether the deduction as claimed by the assessee w.r.t. interest earned…

CIT v. Kangra Co-operative Bank Ltd.

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