Citizen C-operative Society Ltd. v. ACIT

M/S. ALETTY CO-OPERATIVE AGRICULTURAL BANK LIMITED,SULLIA vs. INCOME TAX OFFICER, WARD-1, BANGALORE

In the result, the appeal of the assessee is treated as partly allowed for statistical purpose

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2016-17 M/S. Aletty Co-Operative Agricultural Bank Ltd., Vs. The Income Tax Officer, Aletty Post & Village, Ward -1, Sullia – 574 247. Puttur. Pan : Aaaaa 4243 J Appellant Respondent Appellant By : Shri. Ravish Rao, Ca Respondent By : Shri. Elamurugu G, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 30.08.2021 Date Of Pronouncement : 31.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Of Cit(A), Mangaluru, Dated 06.01.2020, In Relation To Ay 2016-17. 2. The Assessee Is A Primary Agricultural Credit Co-Operative Society Registered Under The Karnataka State Co-Operative Societies Act, 1959. It Accepts Deposits From Its Members & Provides Credit Facilities To Its Members. In The Return Of Income Filed For Assessment Year 2015-16, The Assessee Claimed Deduction Under Section 80P Of The Income Tax Act, 1961(Act) Of A Sum Of Rs.68,85,589/-. Out Of The Aforesaid Sum That Was Claimed As Deduction U/S.80P Of The Act, A Sum Of Rs.43,49,141 Was Interest On Deposits Made With South Canara District Co-Operative Bank(Scdcc Bank) & A Sum Of Rs.5,72,959 Was Dividend On Investments Made In Scdcc Bank. The Deduction On The Aforesaid Two Page 2 Of 14 Sums Were Claimed By The Assessee U/S.80P(2)(A)(D) Of The Act. The Remaining Sum Was Claimed As Deduction U/S.80P(2)(A) (I) Of The Act, Being Income Earned From Providing Credit Facility To Its Members.

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Aletty Co-operative Agricultural Bank Ltd., Vs. The Income Tax Officer, Aletty Post and Village, Ward -1, Sullia – 574 247. Puttur. PAN : AAAAA 4243 J APPELLANT RESPONDENT Appellant by : Shri. Ravish Rao, CA Respondent by : Shri. Elamurugu G, JCIT(DR)(ITAT), Bengaluru Date of hearing : 30.08.2021 Date of Pronouncement : 31.08.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order of CIT(A), Ma…

M/S. PERADY VYAVASAYA SEVA SAHAKARI BANK LIMITED,BELTHANGADY vs. INCOME TAX OFFICER, WARD- 1, PUTTUR

In the result, appeal of the assessee is treated as allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2016-17 M/S. Perady Vyavasaya Seva Sahakari Bank Ltd., Vs. Ito, 01, Post Perady, Ward – 1, Belthangady – 574 236. Puttur. Pan : Aaalp 0218 K Appellant Respondent Appellant By : Smt. Sheethal R. Borkar, Advocate Respondent By : Shri. Kannan Narayanan, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 04.08.2021 Date Of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 27.03.2019 Of Cit(A), Mangaluru, Relating To Assessment Year 2016-17. 2. The Assessee Is A Primary Agricultural Co-Operative Society Engaged In The Business Of Acceptance Of Deposits From Lenders, Lending Loans, Providing Banking Facility In Rural Village. The Assessee Filed Return Of Income For The Relevant Ay Declaring Nil Income After Claiming Deduction Of Rs.1,04,78,572/- Under Section 80P Of The Income Tax Act, 1961 (Act).

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Perady Vyavasaya Seva Sahakari Bank Ltd., Vs. ITO, 01, Post Perady, Ward – 1, Belthangady – 574 236. Puttur. PAN : AAALP 0218 K APPELLANT RESPONDENT Appellant by : Smt. Sheethal R. Borkar, Advocate Respondent by : Shri. Kannan Narayanan, JCIT(DR)(ITAT), Bengaluru Date of hearing : 04.08.2021 Date of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order dated 27.03.2019 of…

M/S. VENOOR CO-OPERATIVE AGRICULTURAL BANK LIMITED,BELTHANGADY vs. INCOME TAX OFFICER, WARD- 1, PUTTUR

In the result, appeal of the assessee is treated as allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2016-17 M/S. Venoor Co-Operative Agricultural Bank Ltd., Vs. Ito, Venur, Belthangady – 574 242. Ward – 1,Puttur. Pan : Aaajv 0184 C Appellant Respondent Appellant By : Smt. Sheethal R. Borkar, Advocate Respondent By : Shri. Kannan Narayanan, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 04.08.2021 Date Of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 27.03.2019 Of Cit(A), Mangaluru, Relating To Assessment Year 2016-17. 2. The Assessee Is A Primary Agricultural Co-Operative Society Engaged In The Business Of Acceptance Of Deposits From Lenders, Lending Loans, Providing Banking Facility In Rural Village. The Assessee Filed Return Of Income For The Relevant Ay Declaring Nil Income After Claiming Deduction Of Rs.83,12,836 Under Section 80P Of The Income Tax Act, 1961 (Act).

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Venoor Co-operative Agricultural Bank Ltd., Vs. ITO, Venur, Belthangady – 574 242. Ward – 1,Puttur. PAN : AAAJV 0184 C APPELLANT RESPONDENT Appellant by : Smt. Sheethal R. Borkar, Advocate Respondent by : Shri. Kannan Narayanan, JCIT(DR)(ITAT), Bengaluru Date of hearing : 04.08.2021 Date of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order dated 27.03.2019 of CIT(A),…

M/S. SRI KRISHNA CREDIT CO-OPERATIVE SOCIETY LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 3(2)(3), BENGALURU

Bench: Shri N.V. Vasudevanassessment Year : 2016-17

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC – C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT Assessment year : 2016-17 M/s. Sri Krishna Credit Vs. The Income Tax Officer, Co-operative Society Ltd., Ward 3(2)(3), Kumbalgodu, Bangalore. Bangalore South Taluk, Bangalore – 560 074. PAN: AALAS 7658E APPELLANT RESPONDENT Appellant by : Shri S.V. Ravishankar, Advocate Respondent by : Shri Ganesh R. Ghale, Standing Counsel for Dept. Date of hearing : 09.10.2019 Date of Pronouncement : 16.10.2019 O R D E R This appeal by the assessee is against the order dated 26.06.2019 of the CIT(Appeals)-3, Bengal…