CIT v. Nawanshahar Central Co-operative Bank Ltd.

160 Taxmann 48Supreme Court of India2007#323 most cited

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

Interest income arising from investments made by banks, including co-operative banks, is attributable to their business of banking and is treated as profits and gains of business, qualifying for deduction under Section 80P(2)(a)(i).

256

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Nawanshahar Central Co-operative Bank Ltd. · Section 80P(2)(a)(i) · Section 80P · interest income · investment income · co-operative bank · banking business · business income · deduction

Also reported as

289 ITR 6

Sections most often in play

Section 80P(2)(d)Section 80P(2)(a)(i)Section 143(3)Section 250Section 80P(4)Section 80PSection 2(19)Section 263

Issues it is cited on

section 57(i)section 80(2)(d)section 80(p)(2)(a)section 286section 161section 80p(2)(c)section 60interest on securitiessection 2(19)section 80p(4)section 80p(2)(a)section 21

Judgments citing CIT v. Nawanshahar Central Co-operative Bank Ltd.

ASST CIT 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3882/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) & SHRI JAGADISH (ACCOUNTANT MEMBER) I.T.A. No. 3680/Mum/2017 Assessment Year: 2010-11 State Bank of India Vs. The Assistant Commissioner of Financial Reporting & Taxation Income-tax, Circle-2(2)(1), Dept. Mumbai 3rd Floor, Corporate Centre Madam Cama Road Nariman Point Mumbai - 400021 [PAN: AAACS8577K] (Appellant) (Respondent) I.T.A. No. 3882/Mum/2017 Assessment Year: 2010-11 The Assistant Commissioner Vs. State Bank of India of Income-tax, Circle-2(2)(1), Financial Reporting & Taxation Mumbai Dept. 3rd Floor, Corpor…

STATE BANK OF INDIA,MUMBAI vs. ASST CIT CIR 2(2), MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3680/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) & SHRI JAGADISH (ACCOUNTANT MEMBER) I.T.A. No. 3680/Mum/2017 Assessment Year: 2010-11 State Bank of India Vs. The Assistant Commissioner of Financial Reporting & Taxation Income-tax, Circle-2(2)(1), Dept. Mumbai 3rd Floor, Corporate Centre Madam Cama Road Nariman Point Mumbai - 400021 [PAN: AAACS8577K] (Appellant) (Respondent) I.T.A. No. 3882/Mum/2017 Assessment Year: 2010-11 The Assistant Commissioner Vs. State Bank of India of Income-tax, Circle-2(2)(1), Financial Reporting & Taxation Mumbai Dept. 3rd Floor, Corpor…

THE CAMP MULTIPURPOSE PRIMARY AGRICULTURE COOPERATIVE SOCIETY LIMITED,PERNEM, GOA vs. INCOME TAX OFFICER, WARD 2 (1), PANAJI, GOA

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

ITA 55/PAN/2026[2016-17]Status: DisposedITAT Panaji11 Mar 2026AY 2016-17

Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. Nos.55/PAN/2026 (A.Y. 2016-17 ) The Camp Multipurpose Vs I T O, Primary Agriculture National e Assessment . Cooperative society Limited, Centre, C 104,Agarwada, Delhi Pernem, North Goa-403512, Goa. PAN .No. AABAC8769Q (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Shyam J Kamat.AR Revenue by Smt.Rijula Uniyal.Sr.DR सुनवाई की तारीख/Date of Hearing 10.03.2026 11.03.2026 घोषणा की तारीख/Date of Pronouncement ORDER PER PAVAN KUMAR GADALE, JM: The appeal is filed by the assesse against the ord…

SHRI BRAHMANATH CREDIT SOUHARD SAHAKARI SANGH NIYAMIT,NIPPANI vs. ITO 1 NIPPANI, NIPPANI

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

ITA 66/PAN/2026[2013-14]Status: DisposedITAT Panaji10 Mar 2026AY 2013-14

Bench: Shri Pavan Kumar Gadalei T A. Nos.66/Pan/2026 (A.Y. 2013-14 ) Shri Brahmanath Credit Vs I.T.O-Ward-1, Souhard Sahakari Sangh Nemchand Building, . Niyamat, 747,Ashoknagar, 185/C, Chikodi Road, Nippani-591237, Nippani, Karnataka. Belagavi-591237, Karnataka. Pan .No. Aaaas1063Q (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.U.G.Ammangi.Ar Revenue By Smt.Rijula Uniyal.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.03.2026 घोषणा की तारीख/Date Of Pronouncement 10.03.2026 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of Nfac/Cit(A) U/Sec 250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Sustaining The Denial Of Deduction Of Interest Income From Cooperative Society, Cooperative Banks & Nationalized Banks U/Sec80P(2)(D) Of The Act. 2. The Brief Facts Of The Case Are That, The Assessee Is A Cooperative Credit Society & Is Engaged In Activities Of Providing Credit Facilities To Its Members. The Assessee Has Filed The Return Of Income For The A.Y 2013-14 On 2 Ita. No..66/Pan/2026 Shri Brahmanath Credit Souhard Sahakari Sangh Niyamit. 30.09.2013 Disclosing A Total Income Of Rs.Nil After Claiming Deduction Of Rs.78,06,780/- U/Sec 80P(2)(A)(I) Of The Act. Subsequently The Case Was Selected For Scrutiny Under Cass & Order U/Sec143(3) Of The Act Was Passed Disallowing The Claim U/Sec80P(2)(A)(I) Of The Act Of Rs.78,06,780/- & Disallowance U/Sec40(A)(Ia) Of The Act Of Rs.76,274/- & Assessed The Total Income Of Rs.78,83,054/- Vide Order Dated21.07.2021.Aggrived By The Order, On Appeal To The Cit(A), The Appeal Was Partly Allowed & The Assessee Has Preferred Second Appeal Before The Honble Tribunal & Vide By Order

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. Nos.66/PAN/2026 (A.Y. 2013-14 ) Shri Brahmanath Credit Vs I.T.O-Ward-1, Souhard Sahakari Sangh Nemchand Building, . Niyamat, 747,AshokNagar, 185/C, Chikodi Road, Nippani-591237, Nippani, Karnataka. Belagavi-591237, Karnataka. PAN .No. AAAAS1063Q (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.U.G.Ammangi.AR Revenue by Smt.Rijula Uniyal.Sr.DR सुनवाई की तारीख/Date of Hearing 09.03.2026 घोषणा की तारीख/Date of Pronouncement 10.03.2026 ORDER PER PAVAN KUMAR GADALE, JM: The appeal is filed by t…

SHRI MALLIKARJUN URBAN CO OPERATIVE CREDIT SOCIETY LIMITED,BELAGAVI vs. ITO WARD 1 BELGAUM, BELGAUM

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 65/PAN/2026[2017-18]Status: DisposedITAT Panaji06 Mar 2026AY 2017-18

Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. No.65/PAN/2026 (A.Y. 2017-18 ) Shri Mallikarjun Urban Vs ITO-Ward-1, Cooperaive credit Society Feroj khimjibhai cpx, . Limited, Civil Hospital Road Jugul,Taluka Athani, Belagavi-590001. Belagavi-591252, Karnataka. Karnataka. . PAN .No. AAAAS5616H (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Shivananad Halbhavi.AR Revenue by Smt.Rijula Uniyal.Sr.DR सुनवाई की तारीख/Date of Hearing 05.03.2026 06.03.2026 घोषणा की तारीख/Date of Pronouncement ORDER PER PAVAN KUMAR GADALE, JM: The appeal is f…

SHRI K.P. MAGENNAVAR LAXMI CREDIT SOUHARDA SAHAKARI SANGH LTD.MANJARI.,CHIKODI vs. INCOME TAX OFFICER, WARD-1, NIPPANI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 33/PAN/2026[2015-2016]Status: DisposedITAT Panaji27 Feb 2026AY 2015-2016

Bench: Shri Pavan Kumar Gadalei T A. No.33/Pan/2026 (A.Y. 2015-16 ) Shri K.P.Magennavar Laxmi Vs I.T.O-Ward-1, Credit Souharda Sahakari Nemchand Building, . Sangh Limited, 747,Ashoknagar, 521,Laxmibuilding,Mainroad, Nipani-591237, Manjari, Chikodi, Karnataka. Belagavi-591213, Karnataka. Pan .No. Aabas3175N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Jaykumar Patil.Ar Revenue By Smt.Thamba Mahendra.Sr.Dr सुनवाई की तारीख/Date Of Hearing 25.02.2026 घोषणा की तारीख/Date Of Pronouncement 27.02.2026 Order Per Pavan Kumar Gadale, Jm: The Assessee Has Filed The Appeal Against The Order Of Addl/Jcit(A)-7 Mumbai Passed U/Se 143(3) & U/Sec250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Sustaining The Denial Of Claim Of Deduction U/Sec80P(2)(A)(I) Of The Ac & Without Prejudice Alternate Relief U/Sec80P(2)(D) Of The Act On Interest Income From Cooperative Banks & Scheduled Banks. 2. The Brief Facts Of The Case Are That, The Assessee Souhard Credit Cooperative Society Is Engaged In Providing

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. No.33/PAN/2026 (A.Y. 2015-16 ) Shri K.P.Magennavar Laxmi Vs I.T.O-Ward-1, Credit Souharda Sahakari Nemchand Building, . Sangh Limited, 747,AshokNagar, 521,Laxmibuilding,MainRoad, Nipani-591237, Manjari, Chikodi, Karnataka. Belagavi-591213, Karnataka. PAN .No. AABAS3175N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Jaykumar Patil.AR Revenue by Smt.Thamba Mahendra.Sr.DR सुनवाई की तारीख/Date of Hearing 25.02.2026 घोषणा की तारीख/Date of Pronouncement 27.02.2026 ORDER PER PAVAN KUMAR GADALE…

BARDC BANK,BHATKAL vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the two appeals filed by the assessee are partly allowed for statistical purposes

ITA 297/PAN/2024[2018-19]Status: DisposedITAT Panaji17 Feb 2026AY 2018-19

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. Nos.296 & 297/Pan/2024 (A.Y. 2017-18 & 2018-19) Bardc Bank Bhatkal, Ito-Ward-1, Vs Pld Bank, Main Road, Santerikrupa, . Uttara Kannada, Kaigaroad, Bhatkal S.O. Habbuwada, Karnataka-581320. Karwar-581306, Karnataka. Pan .No. Aaaap1731G (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G D PADMAHSHALI ACCOUNTANT MEMBER I T A. Nos.296 & 297/PAN/2024 (A.Y. 2017-18 & 2018-19) BARDC Bank Bhatkal, ITO-Ward-1, Vs PLD Bank, Main Road, SanteriKrupa, . Uttara Kannada, KaigaRoad, Bhatkal S.O. Habbuwada, Karnataka-581320. Karwar-581306, Karnataka. PAN .No. AAAAP1731G (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Ravish Rao.AR Revenue by Smt.Rijula Uniyal. Sr.DR सुनवाई की तारीख/Date of Hearing 10.02.2026 घोषणाकीतारीख/DateofPronouncement 17.02.2026 ORDER PER BENCH: These two app…

BARDC BANK,BHATKAL vs. INCOME TAX OFFICER, WARD - 1, KARWAR

In the result, the two appeals filed by the assessee are partly allowed for statistical purposes

ITA 296/PAN/2024[2017-18]Status: DisposedITAT Panaji17 Feb 2026AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. Nos.296 & 297/Pan/2024 (A.Y. 2017-18 & 2018-19) Bardc Bank Bhatkal, Ito-Ward-1, Vs Pld Bank, Main Road, Santerikrupa, . Uttara Kannada, Kaigaroad, Bhatkal S.O. Habbuwada, Karnataka-581320. Karwar-581306, Karnataka. Pan .No. Aaaap1731G (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G D PADMAHSHALI ACCOUNTANT MEMBER I T A. Nos.296 & 297/PAN/2024 (A.Y. 2017-18 & 2018-19) BARDC Bank Bhatkal, ITO-Ward-1, Vs PLD Bank, Main Road, SanteriKrupa, . Uttara Kannada, KaigaRoad, Bhatkal S.O. Habbuwada, Karnataka-581320. Karwar-581306, Karnataka. PAN .No. AAAAP1731G (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Ravish Rao.AR Revenue by Smt.Rijula Uniyal. Sr.DR सुनवाई की तारीख/Date of Hearing 10.02.2026 घोषणाकीतारीख/DateofPronouncement 17.02.2026 ORDER PER BENCH: These two app…

SHRI HANUMAN CREDIT SOUHARDA SAHAKARI SANGH LTD,BELAGAVI vs. INCOME TAX OFFICER, WARD - 1, NIPPANI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 235/PAN/2025[2017-18]Status: DisposedITAT Panaji16 Feb 2026AY 2017-18

Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)

Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. No.235/PAN/2025 (A.Y. 2017-18 ) Shree Hanuman Credit Vs I.T.O-Ward-1, Souhard Sahakari Limited, Nemchand Building, . 1,Shah Complex, 747,AshokNagar, K.C.Road,Near busstand, Nipani-591237, Chikodi-591201, Karnataka. Karnataka. PAN .No. AACAS1191D (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Mahadeo Wali.AR Revenue by Smt.Rijula Uniyal.Sr.DR सुनवाई की तारीख/Date of Hearing 12.02.2026 घोषणा की तारीख/Date of Pronouncement 16.02.2026 ORDER PER PAVAN KUMAR GADALE, JM: The assessee has filed…

SHREE MAHILA CREDIT SOUHARD SAHAKARI SANGH NIYAMIT,BELAGAVI vs. ITO WARD 1 BELAGAVI, BELAGAVI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 116/PAN/2024[2017-18]Status: DisposedITAT Panaji13 Feb 2026AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.116/Pan/2024 (A.Y. 2017-18) Shree Mahila Credit Souhard Vs Ito-Ward-2, Sahakari Sangh Niyamit, Feroj Khimjibhai Cpx, . Shop.No.3, Maruti Complex, Civil Hospital Road 2 Nd Railway Gate, Tilakwadi, Belagavi-590001. Belgaum-500006, Karnataka. Karnataka. . Pan .No. Aabas9244A (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Pramod Y Vaidya.Ar Revenue By Smt.Rijula Uniyal.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.02.2026 घोषणा की तारीख/Date Of Pronouncement 13.02.2026 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of The Nfac/Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Partially Sustaining The Denial Of Claim Of Deduction U/Sec80P(2)(A)(I) Of The Act Made By The Assessing Officer & Without Prejudice Alternate Relief U/Sec80P(2)(D) Of The Act & Sustaining Denial Of Deduction Of Interest On Income Tax Refund Under Section 80P(2)(A)(I) Of The Act.

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G D PADMAHSHALI ACCOUNTANT MEMBER I T A. No.116/PAN/2024 (A.Y. 2017-18) Shree Mahila Credit Souhard Vs ITO-Ward-2, Sahakari Sangh Niyamit, Feroj khimjibhai cpx, . Shop.no.3, Maruti Complex, Civil Hospital Road 2 nd Railway gate, Tilakwadi, Belagavi-590001. Belgaum-500006, Karnataka. Karnataka. . PAN .No. AABAS9244A (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Pramod Y Vaidya.AR Revenue by Smt.Rijula Uniyal.Sr.DR सुनवाई की तारीख/Date of Hearing 09.02.2026 घोषणा की तारीख/Date of Pronoun…

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,BAHRAICH vs. INCOME TAX OFFICER-1, BAHRAICH

In the result, all the three appeals are partly allowed

ITA 601/LKW/2025[2020-21]Status: DisposedITAT Lucknow30 Jan 2026AY 2020-21

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR
Section 143(3)Section 80PSection 80P(2)(a)

…he Society as decided in M/s Totgars Cooperative Sale Society Limited (supra)and therefore, it set aside the assessment of the ld. Assessing Officer in the light of the decision of the Hon’ble Supreme Court in CIT vs. Nawanshahar Central Cooperative Bank Ltd. 289 ITR 6 (SC)‘.Therefore, in view of the arguments made by the learned Authorized Representative, that the investment in fixed deposits and other securities or on account of the provisions of sections 58 and 59 of the U.P. Cooperative Societies Act, 1965 and section 173 of the U.P. Cooperative Societies Rules, 1968, it is quite clear that since it has been…

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,BAHRAICH vs. INCOME TAX OFFICER-1, BAHRAICH

In the result, all the three appeals are partly allowed

ITA 600/LKW/2025[2018-19]Status: DisposedITAT Lucknow30 Jan 2026AY 2018-19

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR
Section 143(3)Section 80PSection 80P(2)(a)

…he Society as decided in M/s Totgars Cooperative Sale Society Limited (supra)and therefore, it set aside the assessment of the ld. Assessing Officer in the light of the decision of the Hon’ble Supreme Court in CIT vs. Nawanshahar Central Cooperative Bank Ltd. 289 ITR 6 (SC)‘.Therefore, in view of the arguments made by the learned Authorized Representative, that the investment in fixed deposits and other securities or on account of the provisions of sections 58 and 59 of the U.P. Cooperative Societies Act, 1965 and section 173 of the U.P. Cooperative Societies Rules, 1968, it is quite clear that since it has been…

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,BAHRAICH vs. INCOME TAX OFFICER-1, BAHRAICH

In the result, all the three appeals are partly allowed

ITA 599/LKW/2025[2013-14]Status: DisposedITAT Lucknow30 Jan 2026AY 2013-14

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR
Section 143(3)Section 80PSection 80P(2)(a)

…he Society as decided in M/s Totgars Cooperative Sale Society Limited (supra)and therefore, it set aside the assessment of the ld. Assessing Officer in the light of the decision of the Hon’ble Supreme Court in CIT vs. Nawanshahar Central Cooperative Bank Ltd. 289 ITR 6 (SC)‘.Therefore, in view of the arguments made by the learned Authorized Representative, that the investment in fixed deposits and other securities or on account of the provisions of sections 58 and 59 of the U.P. Cooperative Societies Act, 1965 and section 173 of the U.P. Cooperative Societies Rules, 1968, it is quite clear that since it has been…

BANGANGA NAGARI SAHAKARI PAT SANSTHA MARYADIT OJHAR (MIG),NASHIK vs. THE INCOME TAX OFFICER, WARD -1(1), NASHIK., NASHIK

In the result, appeal of the assessee is allowed

ITA 1789/PUN/2025[2018-19]Status: DisposedITAT Pune20 Jan 2026AY 2018-19

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita Nos.1788 & 1789/Pun/2025 निर्धारण वषा / Assessment Year: 2022-23 & 2018-19 Banganga Nagari Sahakari V The Income Tax Officer, Patsanstha Maryadit, S Ward-1(1), Nashik. Ravsaheb, Bhagava, Nashik Chowk, Ojhar Niphad, Ozar Mig, Nashik – 422206. Pan: Aaajb0550G Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanjeev Muttha – Virtual Revenue By Smt Neha Thakkar (Virtual) Date Of Hearing 19/01/2026 Date Of Pronouncement 20/01/2026 आदेश/ Order Per Bench : These Two Appeals Filed By The Assessee Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2022-23 Dated 22.05.2025 Emanating From The Assessment Order Dated 18.03.2024 Under Section 143(3) R.W.S. 144B Of The Income Tax Act, 1961 & Order Under Section 250 Of The Income Tax Act, 1961

Section 143Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…orm prescribed by State Authorities before ld.CIT(A). Assessee pleaded that thus, it is the business necessity of assessee. Assessee also relied on the decision of Hon’ble Supreme Court in the case of CIT Vs. Nawanshahar Central Co-operative Bank Ltd., [2007] 160 Taxmann 48 (SC) wherein, the Hon’ble Supreme Court held that “investments made by a banking concern are part of the business of banking”. Therefore, the interest income is attributable to business activity of assessee of providing credit facility to its members. Assessee also relied on the decisions of ITAT Pune. 6 ITA Nos.1788 & 1789/PUN/2025 [A] 6. T…

BANGANGA NAGARI SAHAKARI PATSANSTHA MARIYADIT OJHAR (MIG),NASHIK vs. THE INCOME TAX OFFICER, WARD -1(1), NASHIK, NASHIK

In the result, appeal of the assessee is allowed

ITA 1788/PUN/2025[2022-23]Status: DisposedITAT Pune20 Jan 2026AY 2022-23

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita Nos.1788 & 1789/Pun/2025 निर्धारण वषा / Assessment Year: 2022-23 & 2018-19 Banganga Nagari Sahakari V The Income Tax Officer, Patsanstha Maryadit, S Ward-1(1), Nashik. Ravsaheb, Bhagava, Nashik Chowk, Ojhar Niphad, Ozar Mig, Nashik – 422206. Pan: Aaajb0550G Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanjeev Muttha – Virtual Revenue By Smt Neha Thakkar (Virtual) Date Of Hearing 19/01/2026 Date Of Pronouncement 20/01/2026 आदेश/ Order Per Bench : These Two Appeals Filed By The Assessee Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2022-23 Dated 22.05.2025 Emanating From The Assessment Order Dated 18.03.2024 Under Section 143(3) R.W.S. 144B Of The Income Tax Act, 1961 & Order Under Section 250 Of The Income Tax Act, 1961

Section 143Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…orm prescribed by State Authorities before ld.CIT(A). Assessee pleaded that thus, it is the business necessity of assessee. Assessee also relied on the decision of Hon’ble Supreme Court in the case of CIT Vs. Nawanshahar Central Co-operative Bank Ltd., [2007] 160 Taxmann 48 (SC) wherein, the Hon’ble Supreme Court held that “investments made by a banking concern are part of the business of banking”. Therefore, the interest income is attributable to business activity of assessee of providing credit facility to its members. Assessee also relied on the decisions of ITAT Pune. 6 ITA Nos.1788 & 1789/PUN/2025 [A] 6. T…

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

ITA 1697/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No.: 466/KOL/2018 Assessment Year: 2011-12 M/s. Coal India Ltd. DCIT, Circle-5(1), Kolkata Vs. (Appellant) (Respondent) PAN: AABCC3929J ITA No.: 622/KOL/2018 Assessment Year: 2011-12 DCIT, Circle-5(1), Kolkata M/s. Coal India Ltd. (Appellant) Vs. (Respondent) PAN: AABCC3929J ITA No.: 467/KOL/2018 Assessment Year: 2012-13 M/s. Coal India Ltd. DCIT, Circle-5(1), Kolkata Vs. (Appellant) (Respondent) PAN: AABCC3929J ITA No.: 623/KOL/2018 Assessment Year: 201…

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

ITA 1407/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 1Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No.: 466/KOL/2018 Assessment Year: 2011-12 M/s. Coal India Ltd. DCIT, Circle-5(1), Kolkata (Appellant) Vs. (Respondent) PAN: AABCC3929J ITA No.: 622/KOL/2018 Assessment Year: 2011-12 DCIT, Circle-5(1), Kolkata M/s. Coal India Ltd. (Appellant) Vs. (Respondent) PAN: AABCC3929J ITA No.: 467/KOL/2018 Assessment Year: 2012-13 M/s. Coal India Ltd. DCIT, Circle-5(1), Kolkata (Appellant) Vs. (Respondent) PAN: AABCC3929J ITA No.: 623/KOL/2018 Assessment Year: 201…

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

ITA 622/KOL/2018[2011-12]Status: DisposedITAT Kolkata20 Jan 2026AY 2011-12

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No.: 466/KOL/2018 Assessment Year: 2011-12 M/s. Coal India Ltd. Vs. DCIT, Circle-5(1), Kolkata (Appellant) (Respondent) PAN: AABCC3929J ITA No.: 622/KOL/2018 Assessment Year: 2011-12 DCIT, Circle-5(1), Kolkata M/s. Coal India Ltd. (Appellant) Vs. (Respondent) PAN: AABCC3929J ITA No.: 467/KOL/2018 Assessment Year: 2012-13 M/s. Coal India Ltd. Vs. DCIT, Circle-5(1), Kolkata (Appellant) (Respondent) PAN: AABCC3929J ITA No.: 623/KOL/2018 Assessment Year: 201…

DISTRICT CO-OPERTIVE SUGAR CANE SUPPLY LTD. ,BAREILLY vs. ITO RANGE-1-1 , BAREILLY

In the result, the appeal of the assessee is allowed

ITA 617/LKW/2024[2020-21]Status: DisposedITAT Lucknow31 Dec 2025AY 2020-21

Bench: SHRI KUL BHARAT (Vice President)

For Appellant: Shri K. R. Rastogi, C.AFor Respondent: Shri Amit Kumar, Addl. CIT(DR)
Section 80PSection 80P(2)(a)

…e Society as decided in M/s Totgars Cooperative Sale Society Limited (supra) and therefore, it set aside the assessment of the ld. Assessing Officer in the light of the decision of the Hon’ble Supreme Court in CIT vs. Nawanshahar Central Cooperative Bank Ltd. 289 ITR 6 (SC) ‘.Therefore, in view of the arguments made by the learned Authorized Representative, that the investment in fixed deposits and other securities or on account of the provisions of sections 58 and 59 of the U.P. Cooperative Societies Act, 1965 and section 173 of the U.P. Cooperative Societies Rules, 1968, it is quite clear that since it has been…

THE SHIRODA PROGRESSIVE URBAN MULTIPURPOSE COOPERATIVE SOCIETY LIMITED,PONDA vs. INCOME TAX OFFICER, PANAJI

In the result, the two appeals filed by the assessee are allowed for statistical purposes

ITA 273/PAN/2025[2020-21]Status: DisposedITAT Panaji23 Dec 2025AY 2020-21

Bench: Shri Pavan Kumar Gadalei T A. Nos.272 & 273/Pan/2025 (A.Y. 2018-19 & 2020-21 ) The Shiroda Progressive Urban Vs I T O, Multipurpose Cooperative National E Assessment . Society Limited, Centre, Shop.No.4, Opp: Police Station, Delhi. Shiroda Bhat, Ponda-403103.Goa Pan .No. Aabat7206P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. Nos.272 & 273/PAN/2025 (A.Y. 2018-19 & 2020-21 ) The Shiroda Progressive Urban Vs I T O, Multipurpose Cooperative National e Assessment . society Limited, Centre, Shop.No.4, Opp: Police station, Delhi. Shiroda Bhat, Ponda-403103.Goa PAN .No. AABAT7206P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee by Shri.Shyam J Kamat.AR Revenue by Shri.Sanket Deshmukh.Sr.DR सुनवाई की तारीख/Date of Hearing 22.12.2025 घोषणा की तारीख/Date of Pronouncement 23.12.2025 ORDER PER PAVAN KUMAR GADALE, JM: These two…

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