CIT v. Punjab State Cooperative Agricultural Development Bank Ltd.

389 ITR 68High Court2016#489 most cited

What is CIT v. Punjab State Cooperative Agricultural Development Bank Ltd. authority for?

Income earned by a cooperative society from investing its surplus funds in short-term deposits and securities is not attributable to its core activities and therefore not eligible for deduction under Section 80P(2)(a)(i) of the Income-tax Act.

192

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2017 to 2026.

Also referred to as

CIT v. Punjab State Cooperative Agricultural Development Bank Ltd. · Section 80P · Section 80P(2)(a)(i) · cooperative society deduction · income from surplus funds · short term deposits interest · securities income · not eligible for exemption · attributable to business · banking activities

Also reported as

77 Taxmann.com 308245 Taxmann 125

Sections most often in play

Section 80P(2)(a)(i)Section 80P(2)(d)Section 143(3)Section 80PSection 147Section 80P(2)Section 144Section 263

Issues it is cited on

section 80(p)(2)(d)revision u/s 263assessment order erroneoussection 80p(2)(a)section 80p(2)(a)(i)malabar industrialsection 80p(2)section 80p(2)(d)section 80perroneous and prejudicialeligible businesssection 50c

Judgments citing CIT v. Punjab State Cooperative Agricultural Development Bank Ltd.

DCIT, Central Circle - 2(1), Nagpur vs. Khare and Tarkunde Infrastructure Private Limited, Nagpur

In the result, appeal filed by the Revenue is dismissed

ITA 279/NAG/2025[2016-17]Status: DisposedITAT Patna21 Apr 2026AY 2016-17

Bench: Shri Pawan Singh & Shri Khettra Mohan Roydcit, Central Circle-2(1), Khare & Tarkunde Nagpur Vs Infrastructure Pvt. Ltd., 235, Shivaji Complex, Dharmpeth, Nagpur Pan : Aaack 7184 N Department Assessee Assessee By : Shri Sachin V. Luthra, Ca Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 25.02.2026 Date Of Pronouncement : 21.04.2026 O R D E R

For Appellant: Shri Sachin V. Luthra, CAFor Respondent: Shri Surjit Kumar Saha, Sr. DR
Section 143(2)Section 143(3)Section 250Section 43C

…lowing judgments:- i) ACIT vs. M/s. Triple Securities Pvt. Ltd. in ITA No.2270/MUM/2021, dated 20.12.2022 (ITAT – Bom.) ii) Romiel Samuel vs. ITO in ITA No. 437/MUM/2016, dated 13.06.2018 (ITAT – Bom.) iii) CIT vs. Greenfield Hotels & Estates (P) Ltd. [2016] 389 ITR 68 iv) Noida Cyber Part (P) Ltd. vs. ITO [2021] 186 ITD 593 7. We have considered the rival submissions and perused the material on record. The issue for adjudication is whether section 43CA applies to transfer of TDRs. We find that section 43CA specifically applies to transfer of an asset, being land or building or both, held as stock-in-trade. In…

DCIT, Central Circle - 2(1), Nagpur vs. Khare and Tarkunde Infrastructure Private Limited, Nagpur

In the result, appeal filed by the Revenue is dismissed

ITA 279/NAG/2025[2016-17]Status: DisposedITAT Cuttack21 Apr 2026AY 2016-17

Bench: Shri Pawan Singh & Shri Khettra Mohan Roydcit, Central Circle-2(1), Khare & Tarkunde Nagpur Vs Infrastructure Pvt. Ltd., 235, Shivaji Complex, Dharmpeth, Nagpur Pan : Aaack 7184 N Department Assessee Assessee By : Shri Sachin V. Luthra, Ca Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 25.02.2026 Date Of Pronouncement : 21.04.2026 O R D E R

For Appellant: Shri Sachin V. Luthra, CAFor Respondent: Shri Surjit Kumar Saha, Sr. DR
Section 143(2)Section 143(3)Section 250Section 43C

…lowing judgments:- i) ACIT vs. M/s. Triple Securities Pvt. Ltd. in ITA No.2270/MUM/2021, dated 20.12.2022 (ITAT – Bom.) ii) Romiel Samuel vs. ITO in ITA No. 437/MUM/2016, dated 13.06.2018 (ITAT – Bom.) iii) CIT vs. Greenfield Hotels & Estates (P) Ltd. [2016] 389 ITR 68 iv) Noida Cyber Part (P) Ltd. vs. ITO [2021] 186 ITD 593 7. We have considered the rival submissions and perused the material on record. The issue for adjudication is whether section 43CA applies to transfer of TDRs. We find that section 43CA specifically applies to transfer of an asset, being land or building or both, held as stock-in-trade. In…

DCIT, Central Circle - 2(1), Nagpur vs. Khare and Tarkunde Infrastructure Private Limited, Nagpur

In the result, appeal filed by the Revenue is dismissed

ITA 279/NAG/2025[2016-17]Status: DisposedITAT Nagpur21 Apr 2026AY 2016-17

Bench: Shri Pawan Singh & Shri Khettra Mohan Roydcit, Central Circle-2(1), Khare & Tarkunde Nagpur Vs Infrastructure Pvt. Ltd., 235, Shivaji Complex, Dharmpeth, Nagpur Pan : Aaack 7184 N Department Assessee Assessee By : Shri Sachin V. Luthra, Ca Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 25.02.2026 Date Of Pronouncement : 21.04.2026 O R D E R

For Appellant: Shri Sachin V. Luthra, CAFor Respondent: Shri Surjit Kumar Saha, Sr. DR
Section 143(2)Section 143(3)Section 250Section 43C

…lowing judgments:- i) ACIT vs. M/s. Triple Securities Pvt. Ltd. in ITA No.2270/MUM/2021, dated 20.12.2022 (ITAT – Bom.) ii) Romiel Samuel vs. ITO in ITA No. 437/MUM/2016, dated 13.06.2018 (ITAT – Bom.) iii) CIT vs. Greenfield Hotels & Estates (P) Ltd. [2016] 389 ITR 68 iv) Noida Cyber Part (P) Ltd. vs. ITO [2021] 186 ITD 593 7. We have considered the rival submissions and perused the material on record. The issue for adjudication is whether section 43CA applies to transfer of TDRs. We find that section 43CA specifically applies to transfer of an asset, being land or building or both, held as stock-in-trade. In…

Kai Fakira Jairam Patil Sahakari Patsanstha Maryadit Shahada, Nandurbar vs. ITO, Ward-1, Dhule

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

ITA 3110/PUN/2025[2016-17]Status: DisposedITAT Pune17 Apr 2026AY 2016-17
For Appellant: Shri Manoj Parmar
Section 139(1)Section 147Section 148Section 148ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…TR 578 (Guj.), the Hon’ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon’ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2)(a)(i) of the A…

Deoband Cooperative Cane Development Union Ltd, Deopand Saharanpur vs. Assessing Officer, NFAC Delhi (Assessment Unit)

Appeal is allowed in above terms

ITA 6638/DEL/2025[2022-23]Status: DisposedITAT Delhi20 Mar 2026AY 2022-23

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumara.Yr. : 2022-23 Deoband Cooperative Vs. Ao, Nfac, Delhi Cane Development Union (Assessment Unit) Ltd., Office Of Cooperative Cane Development Deoband, Uttar Pradesh-247554 (Pan: Aaaad0519J)

For Appellant: Sh. J.N. Shukla, AdvFor Respondent: Sh. Rajesh Kumar Dhanesta, Sr. DR
Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…hrift & Credit Society Ltd. v. CIT [2014] 50 taxmann.com 278/229 Taxman 68 (Delhi), the Hon'ble Punjab & Haryana High Court in the case of 3 | P a g e CIT v. Punjab State Cooperative Agricultural Development Bank Ltd. [2017] 77 taxmann.com 308/245 Taxman 125/389 ITR 68 (Bombay) and the Hon'ble Kolkata High Court in the case of CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. [2016] 73 taxmann.com 123/390 ITR 524 (Calcutta) took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eli…

Saini Co-Operative Tharift and Credit Society Ltd, Delhi vs. ITO Ward-48(1), Delhi

In the result, the appeal is allowed

ITA 4261/DEL/2025[2016-17]Status: DisposedITAT Delhi21 Nov 2025AY 2016-17

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

For Appellant: Sh. V. Rajakumar, AdvFor Respondent: Sh. Jitender Singh, CIT-DR
Section 80Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Satbeer Singh Godara, Judicial Member & Sh. S. Rifaur Rahman, Accountant Member ITA No. 4260/Del/2025 : Asstt. Year: 2016-17 ITA No. 4261/Del/2025 : Asstt. Year: 2016-17 Vs Saini Co-operative Thrift and Credit Income Tax Officer, Society Ltd., 2420-21, Bazar Kamra Range-48(1), Bangash, Darya Ganj, New Delhi-110002 New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AABAS8396K Assessee by : Sh. V. Rajakumar, Adv. Revenue by : Sh. Jitender Singh, CIT-DR Date of Hearing: 18.11.2025 Date of Pronouncement: 21.11.2025 ORDER Per Satbeer Singh Godar…

Saini Co-Operative Tharift and Credit Society Ltd, Delhi vs. ITO Ward-48(1), Delhi

In the result, the appeal is allowed

ITA 4260/DEL/2025[2016-17]Status: DisposedITAT Delhi21 Nov 2025AY 2016-17

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

For Appellant: Sh. V. Rajakumar, AdvFor Respondent: Sh. Jitender Singh, CIT-DR
Section 80Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Satbeer Singh Godara, Judicial Member & Sh. S. Rifaur Rahman, Accountant Member ITA No. 4260/Del/2025 : Asstt. Year: 2016-17 ITA No. 4261/Del/2025 : Asstt. Year: 2016-17 Vs Saini Co-operative Thrift and Credit Income Tax Officer, Society Ltd., 2420-21, Bazar Kamra Range-48(1), Bangash, Darya Ganj, New Delhi-110002 New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AABAS8396K Assessee by : Sh. V. Rajakumar, Adv. Revenue by : Sh. Jitender Singh, CIT-DR Date of Hearing: 18.11.2025 Date of Pronouncement: 21.11.2025 ORDER Per Satbeer Singh Godar…

Nutrela Marketing P. Ltd, Mumbai vs. ITO 7(1)(1), Mumbai

In the result the appeal filed by the assessee dismissed

ITA 3910/MUM/2010[2006-07]Status: DisposedITAT Mumbai30 Sept 2025AY 2006-07

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 143(1)Section 143(2)Section 50Section 50C

…d rights transferred by the assessee in land. In support the Ld.AR placed reliance on the decision of coordinate bench of this Tribunal in case of (1) Atul G Puranik v ITO reported in 132 ITD 499 (Mum) (2) CIT v Greenfield Hotels & Estates (P) Ltd reported in 389 ITR 68 (Bom). 4.4 The Ld.AR submitted that section 50C deals with transfer of capital assets being, land or building or both. He submitted that it does not deal with capital assets as defined u/s.2(14) of the Act. He submitted that the nature of the assets transferred in the 6 ITA No.3910/Mum/2010; A.Y. 2006-07 Nutrela Marketing Pvt Ltd present facts are…

Sree Narayana Guru Cooperative Thrift and Credit Society Limited, Delhi vs. Commissioner of Income Tax (Appeals), Civic Centre

Appeal is allowed in above terms

ITA 4783/DEL/2025[2018-19]Status: DisposedITAT Delhi22 Sept 2025AY 2018-19

Bench: Sh. Satbeer Singh Godaraita No. 4783/Del/2025 : Asstt. Year : 2018-19 Sree Narayana Guru Cooperative Vs Cit(A)/Nfac Thrift & Credit Society Ltd., Income Tax Officer, Sree Narayana Kendra, Rb2, Ward-43(6), Pocket-3, Sector-7, D, Dwarka, New Delhi-110002 Sector-6, New Delhi-110075 (Appellant) (Respondent) Pan No. Aacas8347K Assessee By: None Revenue By : Sh. Manoj Kumar, Sr. Dr Date Of Hearing: 22.09.2025 Date Of Pronouncement: 22.09.2025 Order This Assessee’S Appeal For Assessment Year 2018-19, Arises Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2025-26/1078029340(1) Dated 30.06.2025, In Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short “The Act”).

For Appellant: NoneFor Respondent: Sh. Manoj Kumar, Sr. DR
Section 143(3)Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…Cooperative Thrift & Credit Society Ltd. v. CIT [2014] 50 taxmann.com 278/229 Taxman 68 (Delhi), the Hon'ble Punjab & Haryana High Court in the case of CIT v. Punjab State Cooperative Agricultural Development Bank Ltd. [2017] 77 taxmann.com 308/245 Taxman 125/389 ITR 68 (Bombay) and the Hon'ble Kolkata High Court in the case of CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. [2016] 73 taxmann.com 123/390 ITR 524 (Calcutta) took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eli…

West Central Railway Employees Cooperative Credit Society Ltd., Kota vs. ITO, Ward-2(1), Kota

In the results, the appeal of the assessee in ITA no

ITA 1009/JPR/2025[2022-23]Status: DisposedITAT Jaipur10 Sept 2025AY 2022-23
For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Gautam Singh Choudhary, JCIT
Section 143(3)Section 270ASection 80P

…TR 578 (Guj.), the Hon'ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon'ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2)(a)(i) of the A…

West Central Railway Employees Cooperative Credit Society Ltd., Kota vs. ITO, Ward-2(1), Kota

In the results, the appeal of the assessee in ITA no

ITA 1008/JPR/2025[2020-21]Status: DisposedITAT Jaipur10 Sept 2025AY 2020-21
Section 143(3)Section 270ASection 80P

…TR 578 (Guj.), the Hon'ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon'ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2)(a)(i) of the A…

West Central Railway Employees Cooperative Credit Society Ltd., Kota vs. ITO, Ward-2(1), Kota

In the results, the appeal of the assessee in ITA no

ITA 1007/JPR/2025[2017-18]Status: DisposedITAT Jaipur10 Sept 2025AY 2017-18

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Gautam Singh Choudhary, JCIT
Section 143(3)Section 270ASection 80P

…TR 578 (Guj.), the Hon’ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon’ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2)(a)(i) of the A…

Co-Operative Cane Development Union Pvt. Ltd, Modi Nagar, Uttar Pradesh vs. Income Tax Officer, Ward 2 1 (2), Ghaziabad

Appeal is allowed in above terms

ITA 5830/DEL/2024[2017-2018]Status: DisposedITAT Delhi18 Jul 2025AY 2017-2018

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2017-18 Vs. Income Tax Officer, M/S. Co-Operative Cane Development Union Pvt. Ltd., Ward-2(1)(2), Modi Nagar, Ghaziabad Uttar Pradesh Pan: Aaajc0168M (Appellant) (Respondent) Assessee By Sh. Ibad Mushtaq, Adv. Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr

Section 144Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2017-18 Vs. Income Tax Officer, M/s. Co-operative Cane Development Union Pvt. Ltd., Ward-2(1)(2), Modi Nagar, Ghaziabad Uttar Pradesh PAN: AAAJC0168M (Appellant) (Respondent) Assessee by Sh. Ibad Mushtaq, Adv. Department by Sh. Rajesh Kumar Dhanesta, Sr. DR Date of hearing 01.07.2025 Date of pronouncement 18.07.2025 ORDER PER SATBEER SINGH GODARA, JM This assessee’s appeal for assessment year 2017-18, arises against the Commissioner of In…

M/S. Co-Operative Cane Development Union Ltd. Rohana Kalan, Muzaffarnagar vs. DCIT, Muzaffarnagar

ITA 6441/DEL/2014[2011-12]Status: DisposedITAT Delhi01 Jul 2025AY 2011-12

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Co-Operative Cane Vs. Dcit, Development Union Ltd. Circle-1, Rohana Kalan, Muzaffarnagar C/O- Mashkoor Ahmad, Adv., 10-Dr. Suresh Market, Bhagat Singh Road, Muzaffarnagar Pan: Aaajc0343A (Appellant) (Respondent) Assessee By None Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr

Section 143(3)Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2011-12 Co-operative Cane Vs. DCIT, Development Union Ltd. Circle-1, Rohana Kalan, Muzaffarnagar C/o- Mashkoor Ahmad, Adv., 10-Dr. Suresh Market, Bhagat Singh Road, Muzaffarnagar PAN: AAAJC0343A (Appellant) (Respondent) Assessee by None Department by Sh. Rajesh Kumar Dhanesta, Sr. DR Date of hearing 01.07.2025 Date of pronouncement 01.07.2025 ORDER PER SATBEER SINGH GODARA, JM This assessee’s appeal for assessment year 2011-12, arises ag…

Teckmen Systems, Mumbai vs. ITO Ward 27(3)(1), Mumbai

In the result, the appeal filed by the assessee is allowed as per the above terms

ITA 28/MUM/2025[2019-20]Status: DisposedITAT Mumbai30 Jun 2025AY 2019-20

Bench: MS. KAVITHA RAJAGOPAL (Judicial Member), SMT. RENU JAUHRI (Accountant Member)

For Appellant: Shri G. P. Mehta, CAFor Respondent: Shri Ajit Pal Singh, SR. DR
Section 143Section 143(1)Section 143(1)(a)Section 250Section 50CSection 55A

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SMT. RENU JAUHRI, AM Teckmen Systems ITO Ward 27(3)(1) C/o. G. P. Mehta & Co. CAS, 807, Room No. 422, Tower – 6, Vashi Tulsiani Chambers, Nariman Point, Railway Station, Commercial Vs. Mumbai – 400021. Complex, Vashi, New Bombay – 400 703. PAN/GIR No. AAAFT3969K (Appellant) : (Respondent) Assessee by : Shri G. P. Mehta, CA Respondent by : Shri Ajit Pal Singh, SR. DR. Date of Hearing : 17.04.2025 Date of Pronouncement : 30.06.2025 O R D E R Per Kavitha Rajagopal, J M: This appeal has been filed by the assessee, challenging…

Cooperative Cane Development Society Ltd Morna, Morna Muzaffarnagar vs. AO NFAC Delhi, NFAC Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5764/DEL/2024[2020-21]Status: DisposedITAT Delhi05 Jun 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2020-21 Cooperative Cane Vs. Assessing Officer, Development Society Ltd., Nfac, Delhi Morna, District Muzaffarnagar, Uttar Pradesh Pan: Aaefc0580D (Appellant) (Respondent)

Section 144Section 80Section 80PSection 80P(2)(a)

…R 578 (Guj.), the Hon'ble Delhi High Court in the case of Mantola Co- operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon'ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2)(a)(i) of the A…

The Badshahpur Primary Agriculture Co-Op Society Limited, Badshahpur vs. ITO, Ward- 4(1), Gurgaon

Appeal is allowed in above terms

ITA 1823/DEL/2025[2018-19]Status: DisposedITAT Delhi04 Jun 2025AY 2018-19

Bench: Sh. Satbeer Singh Godaraita No. 1823/Del/2025 : Asstt. Year : 2018-19 The Badshahpur Primary Agriculture Vs Income Tax Officer, Co-Operative Society Ltd., Teekli Ward-4(1), Road, Badshahpur, Haryana-122101 Gurgaon (Appellant) (Respondent) Pan No. Aacat6170H Assessee By: Sh. Arpit Goel, Ca Revenue By : Sh. Akhilesh Kumar Yadav, Sr. Dr Date Of Hearing: 04.06.2025 Date Of Pronouncement: 04.06.2025 Order

For Appellant: Sh. Arpit Goel, CAFor Respondent: Sh. Akhilesh Kumar Yadav, Sr. DR
Section 143(3)Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…Cooperative Thrift & Credit Society Ltd. v. CIT [2014] 50 taxmann.com 278/229 Taxman 68 (Delhi), the Hon'ble Punjab & Haryana High Court in the case of CIT v. Punjab State Cooperative Agricultural Development Bank Ltd. [2017] 77 taxmann.com 308/245 Taxman 125/389 ITR 68 (Bombay) and the Hon'ble Kolkata High Court in the case of CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. [2016] 73 taxmann.com 123/390 ITR 524 (Calcutta) took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eli…

Co-Operative Cane Development Union Afzalgarh, Bijnor vs. ITO, Ward- 3(5), Dhampur

Appeal is allowed in above terms

ITA 5304/DEL/2024[2018-19]Status: DisposedITAT Delhi27 May 2025AY 2018-19

Bench: Sh. Satbeer Singh Godara & Sh. Manish Agarwalita No. 5304/Del/2024 : Asstt. Year : 2018-19 Co-Operative Cane Development Union Vs Income Tax Officer, Afzalgarh, Bijnor, Ward-3(5), Uttar Pradesh-246722 Dhampur, Bijnor, Uttar Pradesh-246722 (Appellant) (Respondent) Pan No. Aaajc0288L Assessee By : Ms. Gurneet Kaur, Adv. Revenue By : Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing: 27.05.2025 Date Of Pronouncement: 27.05.2025 Order Per Satbeer Singh Godara: This Assessee’S Appeal For Assessment Year 2018-19, Arises Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2024-25/1067969612(1) Dated 26.08.2024 In Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short “The Act”).

For Appellant: Ms. Gurneet Kaur, AdvFor Respondent: Sh. Rajesh Kumar Dhanesta, Sr. DR
Section 143(3)Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…Cooperative Thrift & Credit Society Ltd. v. CIT [2014] 50 taxmann.com 278/229 Taxman 68 (Delhi), the Hon'ble Punjab & Haryana High Court in the case of CIT v. Punjab State Cooperative Agricultural Development Bank Ltd. [2017] 77 taxmann.com 308/245 Taxman 125/389 ITR 68 (Bombay) and the Hon'ble Kolkata High Court in the case of CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. [2016] 73 taxmann.com 123/390 ITR 524 (Calcutta) took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eli…

Mawana Sugars Ltd., New Delhi vs. DCIT (Ltu), New Delhi

Appeal is allowed in above terms

ITA 5830/DEL/2016[2012-13]Status: DisposedITAT Delhi26 Mar 2025AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahman

Section 144Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No.5830/Del/2024 Assessment Year: 2017-18 M/s. Co-operative Cane | Vs. | Income Tax Officer, Development Union Pvt. Ltd., Ward-2(1)(2), Modi Nagar, Ghaziabad Uttar Pradesh PAN: AAAJCO168M (Appellant) (Respondent) Assessee by Sh. Ibad Mushtaq, Adv. Department by Sh. Rajesh Kumar Dhanesta, Sr. DR Date of hearing 01.07.2025 Date of pronouncement 18.07.2025 ORDER PER SATBEER SINGH GODARA, JM This assessee’s appeal for assessment year 2017-18, aris…

Allied Finance P. Ltd., New Delhi vs. ACIT, Delhi

ITA 4089/DEL/1994[1990-91]Status: DisposedITAT Delhi19 Mar 2025AY 1990-91

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2015-16 Co-Operative Cane Vs. Income Tax Officer, Development Union Ltd., Ward-1(2), Cane Union, Hapur, Ghaziabad Uttar Pradesh Pan: Aaajc0224M (Appellant) (Respondent) With Assessment Year: 2010-11 With Assessment Year: 2010-11 With Assessment Year: 2011-12 With Assessment Year: 2011-12 With Assessment Year: 2012-13 With Assessment Year: 2012-13

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

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2015-16 Co-operative Cane Vs. Income Tax Officer, Development Union Ltd., Ward-1(2), Cane Union, Hapur, Ghaziabad Uttar Pradesh PAN: AAAJC0224M (Appellant) (Respondent) With Assessment Year: 2010-11 With Assessment Year: 2010-11 With Assessment Year: 2011-12 With Assessment Year: 2011-12 With Assessment Year: 2012-13 With Assessment Year: 2012-13 ITA No.4083 to 4089/Del/2024 & 4068/Del/2024 With Assessment Year: 2014-15 Co-operative Cane…