CIT v. South Eastern Railway Employees Co.

390 ITR 523High Court2017#24793 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2023 to 2023.

Judgments citing CIT v. South Eastern Railway Employees Co.

United Bank of India Employees Co-Operative Credit Society Limited, Kolkata vs. I.T.O., Ward-36(4), Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 548/KOL/2022[2017-2018]Status: DisposedITAT Kolkata27 Jun 2023AY 2017-2018

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.546 To 548/Kol/2022 Assessment Years: 2015-16 To 2017-18 United Bank Of India Employees Co-Operative Credit Society Ltd……Appellant 14/4, Sovaram Bysak Street, Kolkata-700007 [Pan:Aaaau1388A] Vs. Ito, Ward-36(4), Kolkata….…….....................……........……...…..…..Respondent Appearances By: Shri G. Banerjee, Ar, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2023 Date Of Pronouncing The Order : June 27, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders All Dated 28.07.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, The Facts & Issues Involved In All The Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.546/Kol/2022 For Assessment Year 2015-16 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita 546/Kol/2022 – The Assessee Has Taken The Following Grounds Of Appeal:

Section 250Section 80PSection 80P(2)(a)

…redit facilities to its members is concerned, we find that the said issue is squarely covered by the decision of the Jurisdictional Calcutta High Court in the case of CIT vs. South Eastern Railway Employees Co- operative Credit Society Ltd. reported in [2017] 390 ITR 523 (Cal), wherein, the Hon’ble High Court taking note of the identical provisions of the ‘Multi-State Co-operative Societies Act’, 2002, has held that such an interest income is attributable to the business income of the society and is eligible for deduction u/s 80P of the Act. Further, the Hon’ble Calcutta High Court, in the identical facts and cir…

United Bank of India Employees Co-Operative Credit Society Limited, Kolkata vs. I.T.O., Ward-36(4), Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 547/KOL/2022[2016-2017]Status: DisposedITAT Kolkata27 Jun 2023AY 2016-2017

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.546 To 548/Kol/2022 Assessment Years: 2015-16 To 2017-18 United Bank Of India Employees Co-Operative Credit Society Ltd……Appellant 14/4, Sovaram Bysak Street, Kolkata-700007 [Pan:Aaaau1388A] Vs. Ito, Ward-36(4), Kolkata….…….....................……........……...…..…..Respondent Appearances By: Shri G. Banerjee, Ar, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2023 Date Of Pronouncing The Order : June 27, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders All Dated 28.07.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, The Facts & Issues Involved In All The Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.546/Kol/2022 For Assessment Year 2015-16 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita 546/Kol/2022 – The Assessee Has Taken The Following Grounds Of Appeal:

Section 250Section 80PSection 80P(2)(a)

…redit facilities to its members is concerned, we find that the said issue is squarely covered by the decision of the Jurisdictional Calcutta High Court in the case of CIT vs. South Eastern Railway Employees Co- operative Credit Society Ltd. reported in [2017] 390 ITR 523 (Cal), wherein, the Hon’ble High Court taking note of the identical provisions of the ‘Multi-State Co-operative Societies Act’, 2002, has held that such an interest income is attributable to the business income of the society and is eligible for deduction u/s 80P of the Act. Further, the Hon’ble Calcutta High Court, in the identical facts and cir…

United Bank of India Employees Co-Operative Credit Society Limited, Kolkata vs. I.T.O., Ward - 36(4), Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 546/KOL/2022[2015-2016]Status: DisposedITAT Kolkata27 Jun 2023AY 2015-2016

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.546 To 548/Kol/2022 Assessment Years: 2015-16 To 2017-18 United Bank Of India Employees Co-Operative Credit Society Ltd……Appellant 14/4, Sovaram Bysak Street, Kolkata-700007 [Pan:Aaaau1388A] Vs. Ito, Ward-36(4), Kolkata….…….....................……........……...…..…..Respondent Appearances By: Shri G. Banerjee, Ar, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2023 Date Of Pronouncing The Order : June 27, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders All Dated 28.07.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, The Facts & Issues Involved In All The Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.546/Kol/2022 For Assessment Year 2015-16 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita 546/Kol/2022 – The Assessee Has Taken The Following Grounds Of Appeal:

Section 250Section 80PSection 80P(2)(a)

…redit facilities to its members is concerned, we find that the said issue is squarely covered by the decision of the Jurisdictional Calcutta High Court in the case of CIT vs. South Eastern Railway Employees Co- operative Credit Society Ltd. reported in [2017] 390 ITR 523 (Cal), wherein, the Hon’ble High Court taking note of the identical provisions of the ‘Multi-State Co-operative Societies Act’, 2002, has held that such an interest income is attributable to the business income of the society and is eligible for deduction u/s 80P of the Act. Further, the Hon’ble Calcutta High Court, in the identical facts and cir…

CIT v. South Eastern Railway Employees Co. (390 ITR 523) — Cited in 3 Judgments | BharatTax