How many judgments cite CIT v. Karnataka State Co-operative Apex Bank?

106 judgments on BharatTax cite CIT v. Karnataka State Co-operative Apex Bank (251 ITR 194), spanning 2011 to 2026.

Which sections of the Income Tax Act does CIT v. Karnataka State Co-operative Apex Bank come up under?

It is most often cited in judgments turning on Section 80P(2)(a)(i), Section 80P(2)(d), Section 80P(4), Section 56, Section 57, Section 80P.

CIT v. Karnataka State Co-operative Apex Bank

251 ITR 194Supreme Court of India2001#1023 most cited

What is CIT v. Karnataka State Co-operative Apex Bank authority for?

Interest income earned by a co-operative bank from statutory investments or mandatory deposits, which are essential for conducting its banking business, qualifies as business income and is exempt under Section 80P(2)(a)(i) of the Income-tax Act.

106

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Karnataka State Co-operative Apex Bank · 251 ITR 194 · Section 80P(2)(a)(i) · co-operative bank interest income · statutory deposits exemption · mandatory investments 80P · business income co-operative society · reserve fund interest · banking business income tax exemption

Also reported as

118 Taxmann 321

Sections most often in play

Section 80P(2)(a)(i)Section 80P(2)(d)Section 80P(4)Section 56 Section 57 Section 80P Section 250 Section 143(3)

Issues it is cited on

section 80(p)(4)section 80(p)(2)section 58 section 80p(2)(a)(iii)section 63 section 64 section 5(b)section 80p(4)section 80p(1)section 2(19)section 80p(2)(a)section 80p(2)(a)(i)

Judgments citing CIT v. Karnataka State Co-operative Apex Bank

The Burdwan Central Co - Operative Bank Limited, Burdwan vs. A.C.I.T Cir - 2, Burdwan

In the result the appeal of the assessee is partly allowed

ITA 1243/KOL/2013[2009-10]Status: DisposedITAT Kolkata02 Sept 2016AY 2009-10

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2009-10

For Appellant: Shri Pratap Kanti Ghosh, , FCAFor Respondent: Shri Sallong Yaden, Addl.CIT

Section 143(3)

…pellant. The Hon’ble court referred to the following judgments —CIT vs. South India Bank Ltd. 241 ITR 374 (Ker), Malabar Co-operative Central Bank Ltd. vs. CIT 101 ITR 87 (Ker), UCO Bank vs. CIT 240 ITR 355 (SC), CIT vs. Karnataka State Co-operative Apex Bank 251 ITR 194 (SC) and Mehsana District Central Co-operative Bank Ltd. vs. ITO 251 ITR 522 (SC) and distinguished the decision in the case of Vijaya Bank Ltd. vs. Addl. CIT (1991) 94 CTR (SC) 216 : (1991) 187 ITR 541 (SC). The Hon’ble Court finally concluded that Securities held by banks constitute their stock-in-trade and consequently the notional loss claime…

ACIT, Circle-3, Asansol vs. M/S. Purulia Central Co-Operative Bank Ltd., Purulia

In the result, the appeal of the Revenue is treated as allowed for statistical purposes, while the Cross Objection of the assessee is dismissed

ITA 1885/KOL/2014[2005-2006]Status: DisposedITAT Kolkata05 Aug 2016AY 2005-2006

Bench: Shri P.M. Jagtap

Section 147Section 148Section 56Section 80PSection 80P(2)

…never be any income from other sources defined by banking regulation act 1949 as definition of banking given in the act. (v) In support of the above, the assessee relied upon the decision of Supreme Court in the case Karnataka State Co- operative Apex Bank, [251 ITR 194], Mehsana District Central Co-operative Bank Ltd. vs. ITO and another of Hon'ble High Court H.P. in which it was held that interest earned by a co-operative bank on fixed deposits with another co-operative bank in complier of state Co-operative Society Act is income from banking business which is allowable U/s 80P of the I.T. Act. (vi) That the f…

Commissioner of Income Tax-II vs. M/S The A.P.Mahesh Coop. Urban Bank Ltd

In the result, for the above reasons, these appeals fail and

ITTA/718/2006HC Telangana07 Jun 2011

Bench: V.V.S.RAO,RAMESH RANGANATHAN

Section 260ASection 46Section 80P(2)(a)

…V.R. Badri ^Counsel for Respondents: M/s.C.Kodanda Ram, K.Vasant Kumar, S.Ravi, N.Siva Reddy, K.Krishna Masthan, Y.Ratnakar, A.V.Raghu Ram, Dr.C.P.Ramaswami, Ms.Anjali Agarwal ? Cases referred 1) (2001) 251 ITR 194 (SC) : (2001) 7 SCC 654 : AIR 2001 SC 3332 2) (2001) 251 ITR 522 (SC) : (2009) 17 SCC 621 3) (2009) 318 ITR 62 (Uttarakhand) 4) AIR 1967 SC 1626 5) (2004) 266 ITR 282 (Bom) 6) (2010) 323 ITR 1 (HP) 7) (2010) 323 ITR 202 (All) 8) (2004) 289 ITR 6 (SC) : (2007) 17 SCC 611 9) (1978) 113 ITR 84 (SC) : (1978) 2…

Commissioner of Income Tax -II vs. The Agrasen Coop. Urban Bank Ltd

In the result, for the above reasons, these appeals fail and

ITTA/711/2006HC Telangana07 Jun 2011

Bench: V.V.S.RAO,RAMESH RANGANATHAN

Section 260ASection 46Section 80P(2)(a)

The Commissioner of Income Tax-II vs. The Andhra Bank Employees Co.Operative Bank Limited

In the result, for the above reasons, these appeals fail and

ITTA/243/2007HC Telangana07 Jun 2011

Bench: V.V.S.RAO,RAMESH RANGANATHAN

Section 260ASection 46Section 80P(2)(a)

Commissioner of Income Tax-II, Hyderabad vs. M/s. The A.P.Vardhaman(Mahila)Cooperative Urban

In the result, for the above reasons, these appeals fail and

ITTA/715/2006HC Telangana07 Jun 2011

Bench: V.V.S.RAO,RAMESH RANGANATHAN

Section 260ASection 46Section 80P(2)(a)