Citizen Co-operative Society Ltd. v. ACIT

HOTEL MALEEKARA PATTINA SOUHARDA SAHAKAARI SANGHA NIYAMITHA ,TUMKUR vs. INCOME TAX OFFICER, WARD-1 & TPS , TUMKUR

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

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year : 2017-18

…erative bank would be eligible for claim of deduction u/s. 80P(2)(d) of the Act. 11. In the Mavilayi Service Co-operative Bank Ltd. v. CIT judgment, the Hon’ble Supreme Court had also distinguished an earlier judgment of the Hon’ble Supreme Court reported in 397 ITR 1 in the case of Citizens Co- operative Society Limited Vs. ACIT and therefore the decision would not be applicable to the facts of the present case. In view of the settled position of law that the co-operative society receiving interest from the co-operative banks / societies are eligible for getting deduction u/s. 80P(2)(d) of the Act, we are also…

HIRIADKA SOUHARDA SAHAKARI (NI),UDUPI vs. ITO-WARD 1&TPS, AADI UDUPI

In the result, Appeal filed by the Assessee is allowed

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year :2017-18 M/S. Hiriadka Souhadra Sahakari (Ni), Post Office Main Road, The Income Tax Officer, Hiriadka, Udupi, Ward-1& Tps, Vs. Karnataka – 576 113. Udupi. Pan: Aabah2220H Appellant Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘SMC’ BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE – PRESIDENT AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment Year :2017-18 M/s. Hiriadka Souhadra Sahakari (NI), Post Office Main Road, The Income Tax Officer, Hiriadka, Udupi, Ward-1& TPS, Vs. Karnataka – 576 113. Udupi. PAN: AABAH2220H APPELLANT RESPONDENT Assessee by : Shri Ravindra Poojary, Advocate : Shri Ganesh R Ghale – Advocate, Revenue by Standing Counsel for Revenue Date of Hearing : 03-12-2025 Date of Pronouncement : 09-02-2026 ORDER PER PRASHANT MAHARISHI, VICE – PRESIDENT 1. ITA No. 1966/Bang/202…

SRI RAMASEVA BAHUSARA KSHARIYA CO-OP. SOCIETY LIMITED,SHIMOGA vs. PR. CIT, BENGALURU-1, BENGALURU

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21 M/S. Sri Ramaseva Bahusara Kshariya Co-Op. Society Ltd. 01, Ramanna Setty Park Spm Road, Doddapete So Vs. Principal Cit Shimoga 577 202 Bengaluru-1 Karnataka Pan No :Aaajs0083P Appellant Respondent Appellant By : Sri V. Srinivasan, A.R. Respondent By : Sri Kiran D., D.R. Date Of Hearing : 11.12.2025 Date Of Pronouncement : 30.01.2026

…d as “Income from Other Sources” under the provisions of section 56 of the Act. The ld. DR also heavily relied upon the judgment of the Supreme Court in the case of Totagars Co-operative Sale Society Limited vs. ITO (Supra), Citizen Co-operative Society Ltd. (397 ITR 1) as well as Kerala State Co-operative Agricultural and Rural Development Bank Ltd. in Civil Appeal No. 10069 of 2016 along with the decision of the Hon’ble Jurisdictional High Court of Karnataka in the case of Principal Commissioner of Income Tax vs. Totagars Co-operative Sale Society Ltd (supra) in support of his contention in order to justify the…

BHARATH CREDIT CO-OPERATIVE SOCIETY LIMITED ,BANGALORE vs. PR. CIT, BANGALORE -1, BANGALORE

In the result the appeal filed by the assessee is allowed

Bench: Ms. Padmavathy S. & Shri Keshav Dubeyassessmentyear:2020-21

…f the Act. The ld. DR also heavily relied Bharath Credit Co-operative Society Limited, Bengaluru Page 9 of 30 upon the judgment of the Supreme Court in the case of Totagars Co-operative Sale Society Limited vs. ITO (Supra), Citizen Co- operative Society Ltd. (397 ITR 1) as well as Kerala State Co- operative Agricultural and Rural Development Bank Ltd. in Civil Appeal No. 10069 of 2016 along with the decision of the Hon’ble Jurisdictional High Court of Karnataka in the case of Principal Commissioner of Income Tax vs. Totagars Co-operative Sale Society Ltd (supra) in support of his contention in order to justify th…

ADARSHA SOUHARDA SAHAKARI NIYAMIT SIRSI,SIRSI vs. PR. COMMISSIONER OF INCOME TAX, , HUBALLI

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

…ITA No.1165/Bang/2025 Adarsha Souharda Sahakari Niyamit, Sirsi Page 1 of 30 ITA No.1165/Bang/2025 Adarsha Souharda Sahakari Niyamit, Sirsi IN THE INCOME TAX APPELLATE TRIBUNAL “A”BENCH: BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No.1165/Bang/2025 Assessment Year : 2020-21 Adarsha Souharda Sahakari Niyamit 1 Nayak Building Hospet Road Sirsi 581 404 Karnataka Vs. Pr. CIT Hubbali PAN NO: AAAAA0323P APPELLANT RESPONDENT Appellant by : Sri Prakash Hegde, A.R. Respondent by : Sri Shivanand H Kalakeri, D.R. Date of Hearing : 04.11.2025 Date of Pronouncement: 27.01.2…

HEMARADDI MALLAMMA SOUHARDHA PATTINA SAHAKARI NI ILKAL,ILKAL vs. INCOME TAX OFFICER, WARD-1, BAGALKOT

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2020-21

…er, the AO had noted that the assessee had invested the surplus funds with Bilagi Pattan Page 3 of 6 Sahakari Bank Ni. Bilagi and BDCC Bank. The AO had relied on the judgment of the Hon’ble Supreme Court in the case of Citizen Co-op. Society Ltd. reported in 397 ITR 1 and denied the deduction claimed u/s. 80P(2)(a)(i) of the Act. As against the said order, the assessee filed an appeal before the Ld.CIT(A) and raised several grounds and submitted that the excess of nominal members would not disentitle the assessee from claiming the deduction u/s. 80P(2)(a)(i) of the Act. The assessee also submitted that there is…

URBAN CO-OPERATIVE CREDIT SOCIETY LIMITED., ,RAMANAGARA vs. INCOME TAX OFFICER, WARD-1, RAMANAGARA

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year : 2017-18

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE – PRESIDENT AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment Year : 2017-18 M/s. Urban Co-operative Credit Society Ltd., The Income Tax #1, Church Street, Officer, Kanakapura, Ward – 1, Ramanagara District – Ramnagara. 562 117. Vs. PAN: AAAAU0541R APPELLANT RESPONDENT Assessee by : Shri H. Siva Prasad Reddy, ITP Revenue by : Shri Subramanian S, JCIT-DR Date of Hearing : 17-11-2025 Date of Pronouncement : 31-12-2025 ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER This is an appeal filed by the assessee challengin…

BHAVANA CO-OP CREDIT SOCIETY NIYAMITA ,SIRSI vs. INCOME TAX OFFICER, WARD-1, SIRSI

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21

…as Income from ‘Other Sources’ under the provisions of section 56 of the Act. The ld. DR also heavily relied upon the judgments of the Supreme Court in the case of Totagars Co-operative Sale Society Limited vs. ITO (Supra), Citizen Co-operative Society Ltd. (397 ITR 1) as well as Kerala State Co-operative Agricultural and Rural Development Bank Ltd. in Civil Appeal No. 10069 of 2016 along with the decision of the Hon’ble Jurisdictional High Court of Karnataka in the case of Principal Commissioner of Income Tax vs. Totagars Co-operative Sale Society Ltd (supra) in support of his contention in order to justify the…

GONIKOPPAL PRIMARY RURAL AGRICULTURAL CREDIT CO-OPERATIVE SOCIETY LIMITED ,KODAGU vs. PR. COMMISSIONER OF INCOME TAX, BENGALURU-3, BENGALURU

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21

…as Income from ‘Other Sources’ under the provisions of section 56 of the Act. The ld. DR also heavily relied upon the judgments of the Supreme Court in the case of Totagars Co-operative Sale Society Limited vs. ITO (Supra), Citizen Co-operative Society Ltd. (397 ITR 1) as well as Kerala State Co-operative Agricultural and Rural Development Bank Ltd. in Civil Appeal No. 10069 of 2016 along with the decision of the Hon’ble Jurisdictional High Court of Karnataka in the case of Principal Commissioner of Income Tax vs. Totagars Co-operative Sale Society Ltd (supra) in support of his contention in order to justify the…

MAHILANIDHI SOUHARDA LIMITED ,MANGALORE vs. INCOME TAX OFFICER, WARD-2(1), MANGALORE

In the result, the appeal by the assessee for the assessment year 2017-18 is allowed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

…he assessee, the Assessing Officer (“AO”), vide order dated 18/12/2019 passed under section 143(3) of the Act for the assessment year 2017-18, placing reliance upon the decision of the Hon’ble Supreme Court in Citizen Co-operative Society Ltd v/s ACIT, [2017] 397 ITR 1 (SC), held that there is a clear violation of principles of mutuality in the present case, and the assessee society is therefore, not entitled to deduction as per the provisions of section 80P of the Act. 6. The learned CIT(A), vide impugned order, directed the assessee to produce the certificate of registration under the . ITA No.1526 - 1528/Ba…

MAHILANIDHI SOUHARDA LIMITED ,MANGALORE vs. INCOME TAX OFFICER, WARD-2(1), MANGALORE

In the result, the appeal by the assessee for the assessment year 2017-18 is allowed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

…he assessee, the Assessing Officer (“AO”), vide order dated 18/12/2019 passed under section 143(3) of the Act for the assessment year 2017-18, placing reliance upon the decision of the Hon’ble Supreme Court in Citizen Co-operative Society Ltd v/s ACIT, [2017] 397 ITR 1 (SC), held that there is a clear violation of principles of mutuality in the present case, and the assessee society is therefore, not entitled to deduction as per the provisions of section 80P of the Act. 6. The learned CIT(A), vide impugned order, directed the assessee to produce the certificate of registration under the . ITA No.1526 - 1528/Ba…

MAHILANIDHI SOUHARDA LIMITED ,MANGALORE vs. INCOME TAX OFFICER, WARD-2(1), MANGALORE

In the result, the appeal by the assessee for the assessment

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

…he assessee, the Assessing Officer (“AO”), vide order dated 18/12/2019 passed under section 143(3) of the Act for the assessment year 2017-18, placing reliance upon the decision of the Hon'ble Supreme Court in Citizen Co-operative Society Ltd v/s ACIT, [2017] 397 ITR 1 (SC), held that there is a clear violation of principles of mutuality in the present case, and the assessee society is therefore, not entitled to deduction as per the provisions of section 80P of the Act. 6. The learned CIT(A), vide impugned order, directed the assessee to produce the certificate of registration under the Karnataka Souharda Sahkar…