CIT v. Southern Eastern Employees Cooperative Credit Society Ltd.

390 ITR 524High Court2017#570 most cited

What is CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. authority for?

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

170

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2018 to 2026.

Also referred to as

CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. · Section 80P · Section 80P(2)(a)(i) · cooperative society exemption · interest income · short term deposits · surplus funds · income attributable to activities · Calcutta High Court

Also reported as

73 Taxmann.com 123

Sections most often in play

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

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 80psection 80p(1)erroneous and prejudicialeligible business

Judgments citing CIT v. Southern Eastern Employees Cooperative Credit Society Ltd.

Daund Talluka Prathamik Shikshak Sahakari Phatsanstha Maryadit, Pune vs. The Principal Commissioner of Income Tax - 4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 426/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Issk Employees Credit Co-Operative Society Limited, Pune vs. The Principal Commissioner of Income Tax -4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 388/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

B.G.Shirke Employees Cooperative Credit Society Limited, Pune vs. Principal Commissioner of Income Tax, Pune-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 358/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Ambegaon Taluka Prathamik Shiksahak Sahakari Patsanstha, Maryadit, Pune vs. Principal Commissioner of Income Ta, Pune-3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 353/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Kalibhairavnath Gramin Bigarsheti Sahakari Pat Sanstha Maryadit, Pune vs. Principal Commissioner of Income Tax-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 346/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Hundustan Antibiotics Employees Co- Operative Credit Society Limited, Pune vs. The Principal Commissioner of Income Tax -3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 340/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Shri Arunoday Multi State Co Operative Credit Society Ltd, Solapur vs. Principal Commissioner of Income Tax-4, Pune T, Pune

In the result, the appeal filed by the assessee in ITA

ITA 334/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Jankalyan Multi State Cooperative Credit Society Limited, Solapur vs. Principal Commissioner of Income Tax, Pune-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 326/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

The Karad Merchant Sahkari Credit Sanstha Limited, Satara vs. Income Tax Ward-1, Satara

In the result, the appeal filed by the assessee in ITA

ITA 324/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Dr Dada Gujar Nagri Sahakari Patsanstha Limited, Pune vs. Income Tax Officer, Ward-14(1), Pune

In the result, the appeal filed by the assessee in ITA

ITA 323/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Janseva Gb Co-Op Pat Sanstha Ltd, Ahmednagar vs. Pricipal Commissioner of Income Tax, Pune-1, Pune

In the result, the appeal filed by the assessee in ITA

ITA 322/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Mahadevnagar Nagari Sahakari Patsanstha Maryadit Mahadevnagar, Pune vs. The Principal Commissioner of Income Tax-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 299/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Dhanwantari Nagari Sahakari Patsansath, Satara vs. Income Tax Office, Ward-2, Satara

In the result, the appeal filed by the assessee in ITA

ITA 258/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Abhinav Chetana Nagari Sahakari Pathasanstha, Pune vs. Principal Commissioenr of Income Tax, Pune-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 257/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Kalbhairavnath Gramin Bigarsheti Sahakari Pat Sanstha Maryadit, Pune vs. Income Tax Office, Ward-14(5), Pune

In the result, the appeal filed by the assessee in ITA

ITA 248/PUN/2023[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Jankalyan Nagari Sahakari Patsnstha Ltd, Satara vs. Principal Commissioner of Income Tax, Pune-3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 226/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Matoshri Nagari Sahakari Pat Sanstha Maryadit, Pune vs. Principal Commissioner of Income Tax, -4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 213/PUN/2023[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Ajinkaya Madhyamik Shikahak Sevak Sah. Patsanstha Marayadit, Satara vs. Principal Commissioner of Income Tax-3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 186/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Kadepathar Gramin Bigar Sheti Sahakari Path Sanstha, Maryadit, Pune vs. Principal Commissioner of Income Tax-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 889/PUN/2022[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…

Shree Ghadgenath Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Karad vs. Principal Commissioner of Income-Tax -3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 771/PUN/2022[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…278, the Hon’ble Punjab & Haryana High Court in the 10 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 Act. However, the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 23…