CIT v. Nawanshahar Central Co-operative Bank Ltd.

160 Taxmann 48Supreme Court of India2007#328 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 367,154 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.

Mega Engineers & Builders, Port Blair vs. DCIT, Cir. 3(2), Port Blair

In the result, the appeal of assessee is allowed

ITA 312/KOL/2024[2017-18]Status: DisposedITAT Kolkata09 Oct 2024AY 2017-18

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 194C

…arrying on banking business under the head "Profits & Gains of Business" and not under the head "Other Sources". The High Court had also taken note of the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Nawanshahar Central Co- operative Bank Ltd (289 ITR 6). Applying the ratio in the said decision the Hon'ble Punjab & Haryana High Court held that the investments held by the assessee Bank was part of its banking business and income arising from trading in securities was attributable to banking business of the assessee. The Hon'ble Punjab & Haryana High Court therefore held that in assessing the income…

Income Tax Officer, Ward-1(1), Nashik vs. Mico Employees Credit Coop Society Ltd., Nashik

In the result, the appeal of the Revenue is dismissed

ITA 281/PUN/2024[2017-18]Status: DisposedITAT Pune18 Sept 2024AY 2017-18

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Nikhil S. PathakFor Respondent: Shri Ramnath P. Murkunde
Section 143(2)Section 56Section 80(2)(d)Section 80PSection 80P(2)(a)

…EE’S PRAYER 1. The Assessee Society being a cooperative society is engaged purely in providing credit facilities to its members. Assessee Society would like to place reliance upon decision in case of CIT v/s Nawanshahar Central Cooperative Bank Limited (2007) 160 Taxmann 48 (SC), whereinthe Apex Court held that the investments made by banking concerns are part of the business of banking. Therefore the Income arising from such investment is attributable to the business of banking falling under the head of ‘ Profits and Gains of Business and Profession’ 2. Assessee Society would also like to bring to your honors no…

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)

…Sahakari Bank Ltd., [2004] 266 ITR 632, held that the interest on investments and short-term fixed deposits in banks was entitled to be deducted under Section 80 P (2) (a) (i) of the Act. In fact, in CIT Vs. Nawanshahar Central Co-operative Bank Ltd., [2007] 289 ITR 6, the Apex Court has held that where under the provisions of the Co-operative Societies Act, the co-operative bank is :-9-: ITA Nos.1040 & 1041/Chny/2024 statutorily required to place part of its funds in approved securities, the income attributable thereto is not taxable under Section 80 P (2) (a) (i) of the Income-tax Act, 1961. In the present ca…

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)

…Sahakari Bank Ltd., [2004] 266 ITR 632, held that the interest on investments and short-term fixed deposits in banks was entitled to be deducted under Section 80 P (2) (a) (i) of the Act. In fact, in CIT Vs. Nawanshahar Central Co-operative Bank Ltd., [2007] 289 ITR 6, the Apex Court has held that where under the provisions of the Co-operative Societies Act, the co-operative bank is :-9-: ITA Nos.1040 & 1041/Chny/2024 statutorily required to place part of its funds in approved securities, the income attributable thereto is not taxable under Section 80 P (2) (a) (i) of the Income-tax Act, 1961. In the present ca…

R&De (Engrs) Employees Co-Op. Credit Society, Pune vs. ITO, Ward 7(3), Pune

In the result, the appeal of the assessee is allowed

ITA 762/PUN/2024[2021-22]Status: DisposedITAT Pune11 Sept 2024AY 2021-22

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri A.V. IyerFor Respondent: Shri Sourabh Nayak
Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…d., 230 Taxman 309 (Kar). (ii) Bhavasar Kshtriya Co-oop. Credit Society Ltd. in ITA Nos.581 to 583/Bang/2022 dated 19.10.2022 (Bang Trib). (iii) CIT v. Karnataka State Co-op. Apex Bank, (2001) 251 ITR 0194 (SC). (iv) CIT v. Nawanshahar Central Co-op Bank Ltd. 289 ITR 6 (SC). (v) Bori Urban Co-operative Credit Society Ltd vs ITO, ITA NO. 200 & 221/PAN/2019 dated 27.12.2022. (vi) Hon'ble Karnataka High Court in the case of Pr.CIT & another vs Totagars Co-operative Sales Society, (2017) 392 ITR 0074 (Karn). On the other hand, the Id. DR relied on the orders of the lower authorities. He further submitted that co-oper…

Karkala Taluk Agricultural Produce Marketing Society Limited, Udupi vs. Income Tax Officer, Ward-3, Udupi

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

ITA 1383/BANG/2024[2017-18]Status: DisposedITAT Bangalore29 Aug 2024AY 2017-18

Bench: Smt. Beena Pillai & Shri Waseem Ahmedassessment Year: 2017-18

For Appellant: Shri Prasanna Shenoy, CAFor Respondent: Smt. Neha Sahay, JCIT
Section 56Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Assessment Year: 2017-18 Karkal Taluk Agricultural Produce Vs. The Income Tax Officer, Marketing Society Ltd., Ward – 3, Udupi. D No.309, Karkala TAPCMS, Mangalore Road, Karkala, The NFAC, Udupi District. Delhi PAN – AAAAK 1129 K APPELLANT RESPONDENT Assessee by : Shri Prasanna Shenoy, CA Revenue by : Smt. Neha Sahay, JCIT Date of hearing : 27.08.2024 Date of Pronouncement : 29.08.2024 O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: This is an appeal filed by the a…

Income Tax Officer, Ujjain vs. M.P. Police Sakh Shakari Sanstha Maryadit, Ujjain

In the result, the appeals of the revenue are dismissed

ITA 174/IND/2024[2015-16]Status: DisposedITAT Indore12 Jul 2024AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos. 173 & 174/Ind/2024 Assessment Years: 2014-15 & 2015-16 ITO M.P. Police Sakh Ujjain Sahakari Sanstha Maryadit, बनाम/ Dewas Road, Vs. Nagziri, Ujjain (Revenue) (Respondent) PAN: AABAM661C Assessee by Shri Milind Wadhwani, CA Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 10.07.2024 Date of Pronouncement 12.07.2024 आदेश / O R D E R Per Vijay Pal Rao, J.M. These two appeals by the revenue are directed against the two sep…

Income Tax Officer, Ujjain vs. M.P. Police Sakh Sahakari Sanstha Maryadit, Ujjain

In the result, the appeals of the revenue are dismissed

ITA 173/IND/2024[2014-15]Status: DisposedITAT Indore12 Jul 2024AY 2014-15

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA Nos. 173 & 174/Ind/2024 Assessment Years: 2014-15 & 2015-16 ITO M.P. Police Sakh Ujjain Sahakari Sanstha Maryadit, बनाम/ Dewas Road, Vs. Nagziri, Ujjain (Revenue) (Respondent) PAN: AABAM661C Assessee by Shri Milind Wadhwani, CA Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 10.07.2024 Date of Pronouncement 12.07.2024 आदेश / O R D E R Per Vijay Pal Rao, J.M. These two appeals by the revenue are directed against the two sep…

Ordnance Factory Bhandara Karamchari Sahakari Pat Sanstha Ltd., Bhandara vs. Assessment Unit, Income Tax Department, Delhi

Appeal is allowed in above terms

ITA 28/NAG/2023[2020-21]Status: DisposedITAT Nagpur01 May 2024AY 2020-21

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Kapil Hirani, AdvocateFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 80P(2)(a)

…norms applicable in case of a co-operative society. It is in this factual backdrop that hon’ble apex court’s landmark decision CIT vs., Karnataka State Cooperative Apex Bank [2001] 251 ITR 194 (SC) and CIT vs. Nawanshahar Central Cooperative Bank Ltd., [2007] 289 ITR 6 (SC) have already settled the issue in assessee’s favour and against the department that such an interest derived from deposits of SLR funds duly qualifying for sec.80P(2)(a)(i) deduction. That being the 3 ITA.No.28/NAG./2023 clinching case, I accept the assessee’s instant sole substantive grievance in very terms. Ordered accordingly. 6. This asse…

Gohana Co-Op Marketing Processing Society Ltd, Gohana vs. Income Tax Officer, Sonipat

In the result, the appeal of the assessee is dismissed

ITA 2698/DEL/2023[2018-19]Status: DisposedITAT Delhi30 Apr 2024AY 2018-19

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar[Assessment Year : 2018-19] Gohana Co-Op Marketing Vs Ito, Processing Society Ltd., Shop No.1, Sonipat. New Anaj Mandi, Gohana, Sonipat, Haryana-131301 Pan-Aaaag0108Q Appellant Respondent Appellant By None Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 24.04.2024 Date Of Pronouncement 30.04.2024 Order

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

…sions and supported the orders of the authorities below. Ld.Sr. DR submitted that the issue is no more res-integra. The Hon’ble Supreme Court has decided the issue in favour of the Revenue in the case of CIT vs Nawanshahar Central Cooperative Bank Ltd. [2007] 289 ITR 6 (SC) and the Co-ordinate Bench of the Tribunal in the case of M/s. Krishnarajpet Taluka Agri Pro Co Marketing Society Ltd. in ITA No.514/Bang/2021 for the Assessment Year 2015-16 and in other cases, also followed the judgement of Hon’ble Supreme Court. Further, he made reliance on the judgment of Hon’ble Supreme Court in the case of M/s. Totgar’s C…

The Jamkhandi Taluk School Teacher Co-Op Credit Society, Jamkhandi vs. Income Tax Officer, Ward-1., Bagalkot

ITA 549/BANG/2024[2020-21]Status: DisposedITAT Bangalore23 Apr 2024AY 2020-21

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2020-21

For Appellant: Shri Ashok Mudnur, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for department
Section 143(3)Section 56Section 57Section 57(2)Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…business income entitled to deduction u/s. 80P(2)(a](i) of the Act. As held in: The Jamkhandi Taluk School Teacher Co-op Credit Society, Jamkhandi Page 2 of 7  Supreme Court case of Commissioner of Income Tax Vs Nawnshahar Central Cooperative Bank Ltd (2007) 289 ITR 6 (SC)  Canara Bank Staff Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore) 517/Bang/2023 4. The Ld. CIT(A) erred in misconceiving the facts of the case to suit his arguments and placed reliance on the judgement of Hon'ble jurisdictional High Court in the case of PCIT Vs. Totagars Co- operative Sales Society reported in 395 ITR 611 (Karn.) ev…

Idfc First Bank Limited, Chennai vs. ACIT-Corp Circle-2(2), Chennai

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

ITA 776/CHNY/2023[2016-17]Status: DisposedITAT Chennai08 Mar 2024AY 2016-17

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Niraj Sheth, AdvocateFor Respondent: Shri V. Nandakumar, CIT
Section 1Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 776/CHNY/2023 िनधा"रण वष"/Assessment Year: 2016-17 IDFC First Bank Ltd., The Asst. Commissioner of (earlier known as IDFC Bank Vs. Income Tax, Ltd.,) Corporate Circle 2(2), KRM Tower, 7th Floor, Chennai. No.1, Harrington Road, Chetpet, Chennai – 600 031. PAN: AADCI 6523Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Sh…

Il & Fs Financial Services Limited, Mumbai vs. DCIT-Circle-14(1)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 3421/MUM/2023[2012-13]Status: DisposedITAT Mumbai26 Feb 2024AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI AMARJIT SINGH (Accountant Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C ‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER IL & FS Financial Vs. The DCIT, Circle- Services, Plot No. C-22, 14(1)(1), Room No. 432, G-Block The IL & FS Aayakar Bhavan, Financial Centre, Maharishi Karve Road, Bandra Kurla Complex, Mumbai- 400020 Bandra East, Mumbai- 400051 PAN/GIR No.AAACI4805L (Appellant) .. (Respondent) Shri. Bhupal Rapelli Assessee by Revenue by Shri. H.M. Bhatt (Sr. D.R.) Date of Hearing 07/02/2024 Date of Pronouncement 26/02/2024 आदेश आदेश / O R D E R आदेश आदेश PER AMIT SHUKLA (J.M): The aforesa…

M/S.the Mundakkayam Service Co-Op Bank Ltd, Kottayam vs. The ITO, Kottayam

ITA 73/COCH/2023[2018-19]Status: DisposedITAT Cochin28 Dec 2023AY 2018-19

Bench: Shri Sanjay Arora & Shri Manomohan Dasthe Mundakkayam Service Co- The Income Tax Officer Operative Bank Ltd. Ward – 2 Mundakkayam Vs. Kottayam Kottayam 686513 [Pan:Aaaat8803H] (Appellant) (Respondent)

For Appellant: Shri Prasanth Srinivas, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 5Section 59Section 80P(1)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Shri Manomohan Das, Judicial Member The Mundakkayam Service Co- The Income Tax Officer operative Bank Ltd. Ward – 2 Mundakkayam vs. Kottayam Kottayam 686513 [PAN:AAAAT8803H] (Appellant) (Respondent) Assessee by: Shri Prasanth Srinivas, CA Revenue by: Smt. J.M. Jamuna Devi, Sr. D.R. Date of Hearing: 17.10.2023 Date of Pronouncement: 28.12.2023 O R D E R Per Sanjay Arora, AM This is an Appeal by the Assessee agitating the dismissal of it’s appeal contesting it’s assessment under section 143(3) r/ws. 144B of…

Idfc First Bank Limited, Chennai vs. DCIT- Corp Circle 2(2), Chennai

The appeal stand partly allowed in terms of our above order

ITA 607/CHNY/2023[2017-18]Status: DisposedITAT Chennai18 Dec 2023AY 2017-18

Bench: Hon’Ble Shri V. Durga Rao, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.607/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) Idfc First Bank Limited Dcit., (Earlier Known As Idfc Bank Limited) Corporate Circle-2(2), बनाम/ Vs. Krm Tower, 7Th Floor, Chennai. No.1Harrinton Road, Chetpet, Chennai-600 031. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadci-6523-Q (अपीलाथ"/Appellant) : (!"थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Niraj Sheth (Advocate)- Ld.Ar !"थ"कीओरसे/Respondent By : Shri J.Premanand (Cit)-Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 12-12-2023 घोषणाकीतारीख /Date Of Pronouncement : 19-12-2023 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri Niraj Sheth (Advocate)- Ld.ARFor Respondent: Shri J.Premanand (CIT)-Ld. Sr. DR
Section 115JSection 14A

…आयकर अपीलीय अिधकरण “ए” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय "ी वी. दुगा" राव, "ाियक सद! एवं माननीय "ी मनोज कुमार अ%वाल ,लेखा सद! के सम(। BEFORE HON’BLE SHRI V. DURGA RAO, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ ITA No.607/Chny/2023 (िनधा"रण वष" / Assessment Year: 2017-18) IDFC FIRST BANK LIMITED DCIT., (Earlier known as IDFC Bank Limited) Corporate Circle-2(2), बनाम/ Vs. KRM Tower, 7th floor, Chennai. No.1Harrinton Road, Chetpet, Chennai-600 031. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AADCI-6523-Q (अपीलाथ"/Appellant) : (!"थ" / Respondent) अपीलाथ"कीओरसे/ App…

Chhattisgarh Sahakari Sakh Samiti Maryadit, Bhilai, Durg vs. Income Tax Officer, Ward-1(2), Bhilai, Durg

In the result, appeals filed by the assessee in ITA No 284, 286 &

ITA 287/RPR/2023[2020-21]Status: DisposedITAT Raipur30 Nov 2023AY 2020-21

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.284,285,286,287/Rpr/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21)

For Appellant: Shri M.C. Oswal, AdvFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(3)Section 2Section 250Section 36(1)(va)Section 80P(2)(d)Section 80p(2)Section 80p(2)(d)Section 80p(2)(l)

…आयकर अपीलीय अिधकरण, रायपुर "यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी र"वश सूद, "याियक सद"य एवं "ी अ"ण खोड़"पया, लेखा सद"य के सम" । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM (ITA No.284,285,286,287/RPR/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21) Chhattisgarh Sahkari Sakh Samiti V Income Tax Officer-Ward 1(2) Bhilai Maryadit, Chhattisgarh Bhawan, s Chhattisgarh Sector-1, Bhilai Durg (491001), Chhattisgarh India PAN: AAAAK1188L (अपीलाथ"/Appellant) (""यथ" / Respondent) . . िनधा"रती क" ओर से /Assessee by : Shri M.C. Oswal, Adv. राज"व क" ओर से /Revenue by : Shri…

Chhattisgarh Sahakari Sakh Samiti Maryadit, Bhilai, Durg vs. Income Tax Officer, Ward-1(2), Bhilai, Durg

In the result, appeals filed by the assessee in ITA No 284, 286 &

ITA 286/RPR/2023[2018-19]Status: DisposedITAT Raipur30 Nov 2023AY 2018-19

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.284,285,286,287/Rpr/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21)

For Appellant: Shri M.C. Oswal, AdvFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(3)Section 2Section 250Section 36(1)(va)Section 80P(2)(d)Section 80p(2)Section 80p(2)(d)Section 80p(2)(l)

…आयकर अपीलीय अिधकरण, रायपुर "यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी र"वश सूद, "याियक सद"य एवं "ी अ"ण खोड़"पया, लेखा सद"य के सम" । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM (ITA No.284,285,286,287/RPR/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21) Chhattisgarh Sahkari Sakh Samiti V Income Tax Officer-Ward 1(2) Bhilai Maryadit, Chhattisgarh Bhawan, s Chhattisgarh Sector-1, Bhilai Durg (491001), Chhattisgarh India PAN: AAAAK1188L (अपीलाथ"/Appellant) (""यथ" / Respondent) . . िनधा"रती क" ओर से /Assessee by : Shri M.C. Oswal, Adv. राज"व क" ओर से /Revenue by : Shri…

Chhattisgarh Sahakari Sakh Samiti Maryadit, Bhilai, Durg vs. Income Tax Officer, Ward-1(2), Bhilai, Durg

In the result, appeals filed by the assessee in ITA No 284, 286 &

ITA 285/RPR/2023[2017-18]Status: DisposedITAT Raipur30 Nov 2023AY 2017-18

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.284,285,286,287/Rpr/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21)

For Appellant: Shri M.C. Oswal, AdvFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(3)Section 2Section 250Section 36(1)(va)Section 80P(2)(d)Section 80p(2)Section 80p(2)(d)Section 80p(2)(l)

…आयकर अपीलीय अिधकरण, रायपुर "यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी र"वश सूद, "याियक सद"य एवं "ी अ"ण खोड़"पया, लेखा सद"य के सम" । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM (ITA No.284,285,286,287/RPR/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21) Chhattisgarh Sahkari Sakh Samiti V Income Tax Officer-Ward 1(2) Bhilai Maryadit, Chhattisgarh Bhawan, s Chhattisgarh Sector-1, Bhilai Durg (491001), Chhattisgarh India PAN: AAAAK1188L (अपीलाथ"/Appellant) (""यथ" / Respondent) . . िनधा"रती क" ओर से /Assessee by : Shri M.C. Oswal, Adv. राज"व क" ओर से /Revenue by : Shri…

Chhattisgarh Sahakari Sakh Samiti Maryadit, Bhilai, Durg vs. Income Tax Officer, Ward-1(2), Bhilai, Durg

In the result, appeals filed by the assessee in ITA No 284, 286 &

ITA 284/RPR/2023[2013-14]Status: DisposedITAT Raipur30 Nov 2023AY 2013-14

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.284,285,286,287/Rpr/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21)

For Appellant: Shri M.C. Oswal, AdvFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(3)Section 2Section 250Section 36(1)(va)Section 80P(2)(d)Section 80p(2)Section 80p(2)(d)Section 80p(2)(l)

…आयकर अपीलीय अिधकरण, रायपुर "यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी र"वश सूद, "याियक सद"य एवं "ी अ"ण खोड़"पया, लेखा सद"य के सम" । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM (ITA No.284,285,286,287/RPR/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21) Chhattisgarh Sahkari Sakh Samiti V Income Tax Officer-Ward 1(2) Bhilai Maryadit, Chhattisgarh Bhawan, s Chhattisgarh Sector-1, Bhilai Durg (491001), Chhattisgarh India PAN: AAAAK1188L (अपीलाथ"/Appellant) (""यथ" / Respondent) . . िनधा"रती क" ओर से /Assessee by : Shri M.C. Oswal, Adv. राज"व क" ओर से /Revenue by : Shri…

Andhra Pragathi Farmers Service Co-Op Society, Ramadurgam vs. ITO, Ward-1, Adoni

In the result, the appeal of assessee in ITA

ITA 660/HYD/2022[2016-17]Status: DisposedITAT Hyderabad17 Oct 2023AY 2016-17

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Shri K.A. Sai Prasad, C.AFor Respondent: Shri Shakeer Ahamed, Sr.AR
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 154Section 80PSection 80P(2)Section 80P(2)(a)

…ertaining to the interest income derived from nationalized banks. Learned Pr.CIT holds that the hon'ble apex court’s decision in Totgars Co-operative Society Ltd vs, Income Tax Officer (322 ITR 283) (S.C) as well as CIT vs. Nawanshahar Central Co-op Bank Ltd (289 ITR 6) (S.C) have already held that such deduction isn’t available to a society like the assessee but banks only. He has also referred to the CBDT Circular No.18/2015 to the very fact. 4. Both the parties reiterated their respective stands against and in support of Pr.CIT’s foregoing revision directions. We notice in this factual backdrop that the insta…