Which sections of the Income Tax Act does CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. come up under?

It is most often cited in judgments turning on Section 80P(2)(a)(i), Section 80P(2)(d), Section 143(3), Section 80P, Section 147, Section 80P(2).

CIT v. Southern Eastern Employees Cooperative Credit Society Ltd.

Q: How many judgments cite CIT v. Southern Eastern Employees Cooperative Credit Society Ltd.?

170 judgments on BharatTax cite CIT v. Southern Eastern Employees Cooperative Credit Society Ltd. (390 ITR 524), spanning 2018 to 2026.

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 80P Section 147 Section 80P(2)Section 144 Section 144B

Issues it is cited on

section 80(p)(2)(d)revision u/s 263 assessment order erroneous section 80p(2)(a)section 80p(2)(a)(i)malabar industrial section 80p(2)section 80p(2)(d)section 80p section 80p(1)erroneous and prejudicial eligible business

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

Rajarshi Shahu Nagari Sahakari Pat Sanstha Ltd., Kolhapur vs. Income Tax Officer, Ward 1(3), Kolhapur

Appeal is allowed in above terms

ITA 609/PUN/2021[2017-18]Status: DisposedITAT Pune26 May 2022AY 2017-18

Bench: Shri S. S. Godaraआयकर अपील सं. / Ita No.609/Pun/2021 िनधा"रण वष" / Assessment Year: 2017-18 Rajarshi Shahu Nagari Vs. Ito, Ward-1(3), Kolhapur. Sahakari Pat Sanstha Ltd., A/P. Murgud, Tal. Kagal, Dist. Kolhapur-416219. Pan : Aaaar1341Q Appellant Respondent Assessee By None : Revenue By : Shri Arvind Desai Date Of Hearing : 23.05.2022 Date Of Pronouncement : 26.05.2022 आदेश / Order Per S. S. Godara, Jm: This Assessee’S Appeal For Assessment Year 2017-18 Arises Against The Cit(A)- National Faceless Appeal Centre (Nfac), Delhi’S Order Dated 23.09.2021 Passed In Case No. Itba/Nfac/S/250/2021-22/1035827237(1) Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short The Act. Case Called Twice. None Appears At Assessee’S Behest. It Is Accordingly Proceeded Ex-Parte.

For Respondent: Shri Arvind Desai

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

…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 Act. However, the Hon’ble Karnataka High Court in the case of 3 Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015)…

Jaluidanga Paschim Nasaratpur Samabay Krishi Unnayan Samity Limited, Burdhaman vs. ITO, Ward-1(1), Burdwan

In the result, the appeal of the assessee is dismissed

ITA 506/KOL/2021[2014-15]Status: DisposedITAT Kolkata27 Apr 2022AY 2014-15

Bench: Shri Manish Borad & Shri Sonjoy Sarmaassessment Year: 2014-15 Jaluidanga Paschim Ito, Ward-1(1), Burdwan Nasaratpur Samabay Krishi Unnayan Samity Ltd. Block: Purbasthali 1, Vs. Village: Jaluidanga, Post: Samudragarh, Dist: Purba Bardhaman, 713519. Pan: Aabaj6381R (Appellant) (Respondent) Present For: Appellant By : Shri S.D. Bandyopadhyay & Shri A.N. Chatterjee, Fca Respondent By : Shri Nicholas Murmu, Addl. Cit Date Of Hearing : 03.03.2022 Date Of Pronouncement : 27.04.2022 O R D E R Per Sonjoy Sarma: This Is Appeal Filed By The Assessee Against The Order Of Ld. Cit(A), National Faceless Appeal Centre Dated 21.09.2021 For A.Y. 2014-15. 2. The Assessee Raised The Following Grounds Of Appeal Are As Under:

For Appellant: Shri S.D. Bandyopadhyay & Shri A.N. Chatterjee, FCAFor Respondent: Shri Nicholas Murmu, Addl. CIT

Section 80P

…e case the learned CIT(A), National Faceless Appeal Centre is erred in law in dismissing the appeal based on the decision of the Hon’ble Jurisdictional Calcutta High court in the case of South Eastern Railway Employees Co- operative Credit Society Ltd. (2016) 73 Taxmann.com 123 (Calcutta) which was followed by the Hon’ble Calcutta High Court in a recent case of Electro Urban Cooperative Society Ltd. (2020) 118 Taxmann.com 310 (Cal) considering as the above case laws are squarely applicable to your appellant which is completely bad in law because your appellant is doing banking activities and it is a primary agric…

Sri. B. Rudragouda, Bellary vs. The Deputy Commissioner of Income Tax, Circle- 1, Bellary

In the result, the appeal is allowed

ITA 315/BANG/2020[2016-17]Status: DisposedITAT Bangalore15 Apr 2021AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru

Section 37Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA Nos.314 & 315/Bang/2020 Assessment years : 2015-16 & 2016-17 Shri B. Rudragouda, Vs. The Assistant Commissioner No.2198, BKG House, of Income Tax, KHB Colony, Circle 1, Sandur, Bellary – 583 101. Bellary. PAN: AFUPG 1386A APPELLANT RESPONDENT Appellant by : Shri Chythanya K.K., Advocate Respondent by : Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru. Date of hearing : 12.03.2021 Date of Pronouncement : 15.04.2021 O R D E R Per Chandra Poojari, Accountant Me…

Sri. B. Rudragouda, Bellary vs. The Assistant Commissioner of Income Tax, Circle- 1, Bellary

In the result, the appeal is allowed

ITA 314/BANG/2020[2015-16]Status: DisposedITAT Bangalore15 Apr 2021AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru

Section 37Section 37(1)

Tribeni Tissues Co Operative Credit Society Ltd., Hooghly vs. I.T.O., Ward-24(3), Hooghly

The appeal stand dismissed

ITA 2477/KOL/2019[2016-17]Status: DisposedITAT Kolkata14 Feb 2020AY 2016-17

Bench: Sri S. S. Godara] आयकर अपीलसं./I.T.A No.2477/Kol/2019 ("नधा"रण वष" / Assessment Year: 2016-17) Tribeni Tissues Co-Operative Vs. Ito, Ward-24(3), Kolkata. Credit Society Ltd. Vill & P.O Chandrahati, Dist- Hooghly. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadat5788J (Appellant) .. (Respondent)

For Appellant: NoneFor Respondent: Smt. Ranu Biswas, Addl. CIT

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

…disallowed assessee’s section 80P deduction claim qua interest income from investments of surplus funds made in nationalized banks. I notice that apart from hon’ble apex court’s judgment (supra), their lordships of hon’ble jurisdictional high court in (2017) 390 ITR 524(Cal) CIT vs. South Eastern Railway Employees Co-operative Credit Society have also decided the very issue in Revenue’s favour. I thus affirm the impugned section 80P deduction disallowance in principle. 4. Next comes equal important aspect as to whether the impugned disallowance is to be computed on netting or gross basis. This tribunal’s co- I.…

ITO, Ward - 35(3), Kolkata vs. M/S. Kolkata Reserve Bank Employees Co-Operative Credit Society Ltd., Kolkata

Appeal is allowed for statistical purposes in above terms

ITA 240/KOL/2018[2014-15]Status: DisposedITAT Kolkata18 Oct 2019AY 2014-15

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.240/Kol/2018 ("नधा"रण वष" / Assessment Year: 2014-15) Ito, Ward-35(3), Kolkata. Vs. M/S. Kolkata Reserve Bank Employees Co-Operative Credit Society Ltd. 13, N.S. Road, Rbi Building (Annexe), Kol- 1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabak6244L (Appellant) .. (Respondent) Appellant By : Dr. A. K. Nayak, Cit-Dr Respondent By : Shri Anil Kochar, Advocate सुनवाईक"तार"ख/ Date Of Hearing : 11/09/2019 घोषणाक"तार"ख/Date Of Pronouncement : 18/10/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income Tax (A) - 10, Kolkata Dated 30.11.2017 Passed In Case No.227/Cit(A)-10/Wd.-35(3)/14-15/16-17/Kol Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. The Revenue’S Sole Substantive Grounds Raised In The Instant Appeal Seeks To Reverse The Cit(A) Action Holding The Assessee Eligible For Section 80P(2)(D) Deduction Of Rs.6,97,20,658/- Disallowed In The Assessment Framed On 08.12.2016. Case File Suggests That The Assessee Had Derived The Impugned Interest Income From Parking Of Its Surplus Funds In Fixed Deposits With The Union Bank Of India & Central Bank Of India Fetching Interest Of Rs.6,48,17,859/- & 49,02,799/-; Respectively. The Assessing Officer Quoted Hon’Ble Apex Court’S Decision In Totgars Co-Operative Sale Society Ltd. Vs. Ito (2010) In 188 Taxman 282 (Sc)

For Appellant: Dr. A. K. Nayak, CIT-DRFor Respondent: Shri Anil Kochar, Advocate

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

…ing Officer had rightly disallowed the assessee’s impugned section 80P(2)(a)(i) deduction claimed since its interest income had been derived from fixed deposits with nationalized bank here only. It quotes Hon’ble jurisdictional high court’s decision in [2017] 390 ITR 524 (Calcutta) CIT vs. South Eastern Railway Employees Co-op Credit Society Ltd. holding such an income to be not eligible for the impugned deduction. The assessee on the other hand quotes the tribunal’s coordinate bench’s order in its own cases in Assessment Year 2012-13 and 2013-14 dated 18.10.2017 and 01.03.2018; respectively. It fails to dispute…

The Sri Gowri Cooperative Society, Visakhapatnam vs. Principal Commissioner of Income Tax-1, Visakhapatnam

In the result, appeal filed by the assessee is allowed

ITA 26/VIZ/2018[2012-13]Status: DisposedITAT Visakhapatnam07 Aug 2019AY 2012-13

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Sri Gowri Vs. Pr.Cit-1, Co-Operative Society, Visakhapatnam. D.No.49-34-32/1, Konathala Complex, Akkayyapalem Main Road, Visakhapatnam. Pan No. Aaaat 8140 M (Appellant) (Respondent)

For Appellant: Shri K.S.S. Sarma – AdvFor Respondent: Shri D.K. Sonawal– CIT DR

Section 263Section 80P(2)(a)

…The Punjab and Haryana High Court not only followed Totgars but also followed the decision of the Gujarat High Court in State Bank of India v. CIT. 25. In CIT v. South Eastern Railway Employees Co-operative Credit Society Ltd. [2016] 73 taxmann.com 123/[2017] 390 ITR 524 (Cal.), a Division Bench of the Calcutta High Court indicated that the judgment of the Supreme Court in Totgar's is a binding authority for the proposition that interest income arising on the surplus invested in short-term deposits and securities would come under the category of income from other sources. 26. Thus a line of decisions rendered by…

Sri Uma Kamandaleswara Co - Operative Rural Bank Ltd., Athreyapuram vs. The Addl. CIT, Kakinada

In the result, appeal filed by the assessee is allowed

ITA 199/VIZ/2017[2008-2009]Status: DisposedITAT Visakhapatnam13 Feb 2019AY 2008-2009

Bench: Shri V. Durga Rao, Hon’Blesri Uma Kamandaleswara Vs. Addl.Cit, Kakinada Co-Op Rural Bank Ltd., Ryali, Range, Kakinada. Athreyapuram Mandalm, East Godavari District. Pan No. Aadas 4663 B (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri P.S. Murthy – Sr.DR

Section 80P(2)(a)

ACIT, Circle-33, Kolkata vs. Central Bank of India Employees Cooperative Society Limited, Kolkata

Appeal is allowed for statistical purposes in above terms

ITA 1868/KOL/2017[2014-15]Status: DisposedITAT Kolkata30 Nov 2018AY 2014-15

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godaraassessment Year:1014-15

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

…Bengal State Cooperative Bank (supra) is not eligible for section 80P(2)(a)(i) deduction since not derived or attributable to any banking business activities or from members. Case law CIT vs. South Eastern Railways Employees Co-Op. Credit Society Ltd. (2017) 390 ITR 524 (Cal) is quoted in support deciding the very issue in Revenue’s favour. The assessee’s case on the other hand is that this issue of allowability of sec.80P(2)(a)(i) deduction is no more res integria since covered in its favour as per tribunal’s earlier order(s). It places on record a co-ordinate bench’s order in ITA No.2203/Kol/2016 for AY 2013-1…

Central Bank National Employees Cooperative Credit Society Ltd., Kolkata vs. ITO, Ward - 34(3), Kolkata

Appeal is partly allowed for statistical purposes

ITA 1050/KOL/2018[2014-15]Status: DisposedITAT Kolkata12 Oct 2018AY 2014-15

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 1050/Kol/2018 Assessment Year : 2014-15 Central Bank National Employees Co. Operative Credit Society Ltd. –Vs- Ito, Ward-34(3), [Pan: Aaaac 3483 E] Kolkata (Appellant) (Respondent)

For Appellant: Shri S. M. Surana, AdvocateFor Respondent: Shri Kapil Mondal, JCIT

Section 143(3)Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH : KOLKATA [Before Hon’ble Shri S.S. Godara, JM] I.T.A No. 1050/Kol/2018 Assessment Year : 2014-15 Central Bank National Employees Co. Operative Credit Society Ltd. –vs- ITO, Ward-34(3), [PAN: AAAAC 3483 E] Kolkata (Appellant) (Respondent) For the Appellant : Shri S. M. Surana, Advocate For the Respondent : Shri Kapil Mondal, JCIT Date of Hearing : 18.09.2018 Date of Pronouncement : 12 .10.2018 ORDER 1. This assessee’s appeal for assessment year 2014-15 is directed against the CIT(A)- 10, Kolkata’s order dated 09.02.2018 passed in case no. 149/CIT(A)-10/W…