Citizen Co-operative Society Ltd. v. ACIT

397 ITR 1Supreme Court of India2017#140 most cited

What is Citizen Co-operative Society Ltd. v. ACIT authority for?

A co-operative credit society engaged in banking business with the general public, accepting deposits from non-members and advancing loans to non-members, is treated as a co-operative bank. Such a society falls under the exclusionary clause of Section 80P(4) and is not eligible for deduction under Section 80P(2)(a)(i).

499

judgments rely on this decision, according to BharatTax’s citation analysis of 370,744 Indian tax judgments — from 2017 to 2026.

Also referred to as

Citizen Co-operative Society Ltd. v. ACIT · Section 80P(4) exclusion · co-operative bank definition · co-operative society banking business · deduction for co-operative banks · loans to non-members · deposits from public · 80P(2)(a)(i) eligibility · co-operative credit society deduction

Also reported as

84 Taxmann.com 114

Sections most often in play

Section 80P(2)(a)(i)Section 80P(2)(d)Section 143(3)Section 80PSection 80P(4)Section 56Section 250Section 2(19)

Issues it is cited on

section 59(2)section 2(n)section 80p(2)(a)(iii)section 5(b)section 58section 59section 80p(1)section 80p(4)section 80p(2)(a)section 80p(2)(a)(i)section 80p(2)section 2(19)

Judgments citing Citizen Co-operative Society Ltd. v. ACIT

Vilavattam Service Co-Op Bank Ltd No 337, Thrissur vs. ITO Ward 2(3), Thrissur

ITA 1010/COCH/2022[2014-15]Status: DisposedITAT Cochin13 Dec 2023AY 2014-15

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

Section 143(3)Section 5Section 80PSection 80P(1)Section 80P(2)(a)

…e on demand or otherwise, and withdrawable by cheque, draft order or otherwise.’ Reliance for the purpose is placed, inter alia, on Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC); The Citizen Co-operative Society Ltd. v. Asst. CIT [2017] 397 ITR 1 (SC), as indeed Pr.CIT v. Poonjar Service Co-op. Bank Ltd. [2019] 414 ITR 67 (Ker)(FB).The only difference in the case of Vilavattam SCB Ltd. is that the ratio of agricultural advances is at a negligible 0.12%, and the claim for deduction is in entirety u/s. 80P(2)(a)(i). The matters were heard at length; the issue arising being principally legal.…

Minority Co Op Credit Society Ltd, Bagalkot vs. ITO W(1), Bagalkot

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

ITA 788/BANG/2023[2017-18]Status: DisposedITAT Bangalore11 Dec 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2017-18

For Appellant: Shri Ramesh V. Mudhol, A.RFor Respondent: Shri V. Parithivel, D.R
Section 250Section 80Section 80PSection 80P(2)(a)

…owed to participate in the administration and they are not entitled to vote as particular category of member is not entitled to participate and thereby the ld. AO followed the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Society Ltd. (397 ITR 1) (SC). However, we find that the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors. Vs. CIT (431 ITR 1) (SC), wherein held as under: “It is important to note that though the main object of the primary agricultural society in question is to provide financial assistance in the form of loans to its members…

M/S High Range Foods Private Ltd, Kochi vs. ITO Corporate Ward 1(3), Kochi

In the result, the assessee’s appeal is partly allowed

ITA 22/COCH/2023[2015-16]Status: DisposedITAT Cochin11 Dec 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dashigh Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) Vs. Kadavanthra, Kochi 682020 Kochi [Pan:Aaach6076L] (Appellant) (Respondent) Assessee By: Shri P.M. Veeramani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.09.2023 Date Of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Is Directed Against The Order Dated 28.06.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)], Disallowing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 27.12.2017 For Assessment Year (Ay) 2015-16. 2. The Appeal, Filed On 09.01.2023, Is Delayed By 135 Days. The Condonation Petition Accompanying The Appeal, Which Is Supported By A Sworn Affidavit Dated 29.12.2022 By Shri Simon John, The Director & Principal Officer Of The Assessee- Company, Explains The Delay In Terms Of Non-Conveyance Of The Impugned Order Inasmuch As It’S Uploading On The Itba Was Not Accompanied By A Simultaneous Uploading On The Mobile Application As Well As A Real Time Alert Through Sms, As Required By Clause 11 Of The National Faceless Appeal Scheme (Nfas), So That The Order Cannot Be Regarded As Served On 28.6.2022, The Date Of The Impugned Order And

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 41(1)

…of the case cannot be described as the ratio decidendi of a Judgment. Page 10 ITANo. 22/Coch/ 2023 (AY 2015-16) High Range Foods Pvt. Ltd. vs. ITO The ratio, it explained with reference to the decision in Citizen Co-operative Society Ltd. v. Asst. CIT [2017] 397 ITR 1 (SC), cited before it, would not depend upon the conclusion arrived at on the facts in that case; a case being an authority for what it actually decides in law and not for what may seem to logically follow from it. It, accordingly, applying the ratio of the said decision, arrived at a different conclusion. The discussion therein in the matter is el…

Income Tax Officer, Udupi vs. Sagar Credit Co-Operative Society, Udupi

In the result, appeal filed by the Revenue is dismissed

ITA 544/BANG/2023[2017-18]Status: DisposedITAT Bangalore06 Dec 2023AY 2017-18

Bench: Shri George George K & Shri Laxmi Prasad Sahuassessment Year : 2017-18 Ito, Vs. M/S. Sagar Credit Co-Operative Society, Ward – 1, Main Road N-H17, Udupi. Byndoor Kundapura Taluk, Udupi District – 576 214. Pan : Aabas 4278 A Appellant Respondent Assessee By : None Revenue By : Shri. V. Parithivel, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 06.12.2023 Date Of Pronouncement : 06.12.2023

For Appellant: NoneFor Respondent: Shri. V. Parithivel, JCIT(DR)(ITAT), Bengaluru
Section 143(2)Section 250Section 251(1)(a)Section 80PSection 80P(2)Section 80P(2)(a)

…bers but with non-members / associate members. Therefore, the AO was of the view that assessee had violated the principles of mutuality and relying on the judgment of the Hon’ble Apex Court in the case of Citizen Co- operative Society Ltd., reported in (2017) 397 ITR 1 denied the entire claim of deduction under section 80P of the Act.. Incidentally, the AO also noticed that assessee was in receipt of a sum of Rs.1,16,85,866/- as interest income from investments with co-operative banks. The AO was of the view that the said Page 3 of 4 interest income has to be assessed as income from other sources and relied on t…

Income Tax Officer, Ward-1(1), C R Building Hubli vs. The Nationalwelfare Urban Co-Op Credit Societt Limited, Dharwad

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

ITA 666/BANG/2023[2017-18]Status: DisposedITAT Bangalore30 Nov 2023AY 2017-18

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year: 2017-18

For Appellant: Shri Hemath Kumar M. Shurpali, A.R. &For Respondent: Shri V. Parithivel, D.R
Section 143(3)Section 18Section 250Section 68Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…ITA No.666/Bang/2023 & CO No.10/Bang/2023 The National Welfare Urban Co-op. Credit Society Ltd., Dharwad IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K., VICE PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year: 2017-18 The National Welfare Urban Co-op. Credit Society Ltd. J.M. Arcade, Line Bazaar ITO Ward-1(1) Vs. Dharwad 580 001 Hubli Karnataka PAN NO : AAEAT9679F APPELLANT RESPONDENT C.O. No.10/Bang/2023 (Arising out of ITA No.666/Bang/2023 Assessment Year: 2017-18 The National Welfare Urban Co-op. Credit Society Ltd. Vs. ITO Ward-1(1) Dharwad…

M/S.Karannur Service Co-Op Bank Ltd, Kozhikkode vs. The ITO, WD-1(2), Kozhikkode

In the result, the appeals by the assessee are allowed

ITA 249/COCH/2020[2015-16]Status: DisposedITAT Cochin16 Nov 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri P. Raghunathan, AdvocateFor Respondent: Sh. Sanjith K. Das, CIT-DR
Section 143(3)Section 271DSection 273BSection 274Section 275(1)(c)Section 80P(1)

…he rights of each of the four (A,B,C, & D) category of members, of whom only category ‘A’ members had the relevant rights and, accordingly, regarded by him as real members. Reliance was placed by him on The Citizen Co-operative Society Ltd. v. Asst. CIT[2017] 397 ITR 1 (SC), extracting from para 26 thereof, whereat the Hon'ble Court noticed the detailed discussion by the assessing authority qua mutuality. Violation of sections 269SS and 269T of the Act, proscribing acceptance as well as repayment of loans and deposits other than by way of account payee cheque or account payee bank draft or electronic clearing sys…

The Karannur Service Co-Op Bank Ltd, Kozhikkode vs. The ITO, WD-1(2), Kozhikkode

In the result, the appeals by the assessee are allowed

ITA 248/COCH/2020[2015-16]Status: DisposedITAT Cochin16 Nov 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri P. Raghunathan, AdvocateFor Respondent: Sh. Sanjith K. Das, CIT-DR
Section 143(3)Section 271DSection 273BSection 274Section 275(1)(c)Section 80P(1)

…he rights of each of the four (A,B,C, & D) category of members, of whom only category ‘A’ members had the relevant rights and, accordingly, regarded by him as real members. Reliance was placed by him on The Citizen Co-operative Society Ltd. v. Asst. CIT[2017] 397 ITR 1 (SC), extracting from para 26 thereof, whereat the Hon'ble Court noticed the detailed discussion by the assessing authority qua mutuality. Violation of sections 269SS and 269T of the Act, proscribing acceptance as well as repayment of loans and deposits other than by way of account payee cheque or account payee bank draft or electronic clearing sys…

Kedambady Keyyur Primary Agricultural Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward-1, Puttur

In the result, the additional grounds raised by the assessee are dismissed

ITA 668/BANG/2023[2018-19]Status: DisposedITAT Bangalore08 Nov 2023AY 2018-19

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Ms. Harsha J., A.R. Instructed by Shri SrihariFor Respondent: Shri Nischal B., D.R
Section 234ASection 250Section 80P(2)(a)Section 80P(2)(d)

…/Bang/2023 Kedambady Keyyur Primary Agricultural Co-operative Society Limited, Puttur Page 5 of 13 of member is not entitled to participate and thereby the ld. AO followed the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Society Ltd. (397 ITR 1) (SC). However, we find that the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Ltd. & Ors. Vs. CIT (431 ITR 1) (SC), wherein held as under: “It is important to note that though the main object of the primary agricultural society in question is to provide financial assistance in the form of loans to its member…

Kedambady Keyyur Primary Agricultural Co-Operative Society Limited, Puttur vs. Income-Tax Officer, Ward-1, Puttur

In the result, the additional grounds raised by the assessee are dismissed

ITA 667/BANG/2023[2017-18]Status: DisposedITAT Bangalore08 Nov 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Ms. Harsha J., A.R. Instructed by Shri SrihariFor Respondent: Shri Nischal B., D.R
Section 234ASection 250Section 80P(2)(a)Section 80P(2)(d)

…/Bang/2023 Kedambady Keyyur Primary Agricultural Co-operative Society Limited, Puttur Page 5 of 13 of member is not entitled to participate and thereby the ld. AO followed the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Society Ltd. (397 ITR 1) (SC). However, we find that the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Ltd. & Ors. Vs. CIT (431 ITR 1) (SC), wherein held as under: “It is important to note that though the main object of the primary agricultural society in question is to provide financial assistance in the form of loans to its member…

M/S. Vittal Vyavasaya Seva Sahakari Bank Niyamith, Vittal vs. Income-Tax Officer, Ward-2(5), Mangaluru

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

ITA 640/BANG/2023[2017-18]Status: DisposedITAT Bangalore08 Nov 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2017-18 M/S. Vittal Vyavasaya Seva Sahakari Bank Niyamith, The Income Tax Reg. No.; 2612/76- Officer, 77, Ward – 2(5), Puttur Road, Mangaluru. Vittal, Vs. Dakshina Kannada – 574 243. Pan: Aaaav4194K Appellant Respondent

For Appellant: Shri Rajagopalan, CA
Section 143(1)Section 234BSection 250Section 270ASection 80Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…sment by denying the deduction claimed u/s. 80P(2)(a)(i) by holding that, the assessee’s activities are contrary to the principles of mutuality by relying on the decision of Hon’ble Supreme Court in case of Citizen Co-operative Society Ltd. reported in (2017) 397 ITR 1. 2.3 The Ld.AO also held that the deduction is not available to the assessee u/s. 80P(2)(d) by relying on the decision of Hon'ble Karnataka High Court in case of Totagars Co-operative Sale Society reported in (2017) 83 taxmann.com 140. 2.4 Against the order of the Ld.AO, assessee preferred appeal before the Ld.CIT(A) who held that assessee’s activi…

Prathamik Krushi Pattin Sahakari Sangh Niyamit, Bedkihal vs. Income Tax Officer, Ward - 1, Nipani

ITA 24/PAN/2023[2017-18]Status: DisposedITAT Panaji06 Oct 2023AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…ordinate Bench vide its order in ITA No.168/PAN/2017 dt. 22/08/2017 remanded the file to Ld. AO with a direction to verify assessee’s 80P(2) entitlement in the light Hon’ble Apex Court then judgement in ‘Citizen Co- op. Society Ltd Vs ACIT’ reported in [2017] 397 ITR 1 (SC). ITAT-Panaji Page 2 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 4.5 In consequential remand proceedings, following the direction of the Co-ordinate bench, the Ld. AO placing strong reliance on ‘Citizen Co-op. Society Ltd.’ (supra) reframed the assessment and disallowed the entire claim of 80…

Shri Gopalkrishna Co-Operative Society Limited, Bhatkal vs. Income Tax Officer, Ward - 1, Karwar

ITA 23/PAN/2023[2018-19]Status: DisposedITAT Panaji06 Oct 2023AY 2018-19

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…ordinate Bench vide its order in ITA No.168/PAN/2017 dt. 22/08/2017 remanded the file to Ld. AO with a direction to verify assessee’s 80P(2) entitlement in the light Hon’ble Apex Court then judgement in ‘Citizen Co- op. Society Ltd Vs ACIT’ reported in [2017] 397 ITR 1 (SC). ITAT-Panaji Page 2 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 4.5 In consequential remand proceedings, following the direction of the Co-ordinate bench, the Ld. AO placing strong reliance on ‘Citizen Co-op. Society Ltd.’ (supra) reframed the assessment and disallowed the entire claim of 80…

Shri Gopalkrishna Co-Operative Society Limited, Bhatkal vs. Income Tax Officer, Ward - 1, Karwar

ITA 22/PAN/2023[2017-18]Status: DisposedITAT Panaji06 Oct 2023AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…ordinate Bench vide its order in ITA No.168/PAN/2017 dt. 22/08/2017 remanded the file to Ld. AO with a direction to verify assessee’s 80P(2) entitlement in the light Hon’ble Apex Court then judgement in ‘Citizen Co- op. Society Ltd Vs ACIT’ reported in [2017] 397 ITR 1 (SC). ITAT-Panaji Page 2 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 4.5 In consequential remand proceedings, following the direction of the Co-ordinate bench, the Ld. AO placing strong reliance on ‘Citizen Co-op. Society Ltd.’ (supra) reframed the assessment and disallowed the entire claim of 80…

The Marcel Urban Co-Operative Credit Society Limited, Marcel vs. Income Tax Officer, Ward - 2(3), Panaji

ITA 2/PAN/2023[2013-14]Status: DisposedITAT Panaji06 Oct 2023AY 2013-14

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…ordinate Bench vide its order in ITA No.168/PAN/2017 dt. 22/08/2017 remanded the file to Ld. AO with a direction to verify assessee’s 80P(2) entitlement in the light Hon’ble Apex Court then judgement in ‘Citizen Co- op. Society Ltd Vs ACIT’ reported in [2017] 397 ITR 1 (SC). ITAT-Panaji Page 2 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 4.5 In consequential remand proceedings, following the direction of the Co-ordinate bench, the Ld. AO placing strong reliance on ‘Citizen Co-op. Society Ltd.’ (supra) reframed the assessment and disallowed the entire claim of 80…

Dy. C. I. T., Circle - 1, Gorakhpur vs. Baroda Uttar Pradesh Gramin Bank Now Amalgamated With Baroda U.P. Bank, Gorakhpur

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

ITA 56/VNS/2023[2019-2020]Status: DisposedITAT Varanasi26 Sept 2023AY 2019-2020

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

For Appellant: Shri S. K. Garg, AdvocateFor Respondent: Shri Robin Chaudhary, CIT
Section 143(3)Section 2(19)Section 22Section 254Section 271Section 3Section 80PSection 80P(2)(a)

…ndia Savings and Investment Corporation Ltd. reported in (2010) 321 ITR 371. 54. So far as claim of exemption of its income is concerned, we have noted the decision of Hon’ble Supreme Court in the case of Citizen Cooperative Society Ltd. vs. Asstt. CIT (2017) 397 ITR 1, dated 08.1.2017, wherein denial of the appellant's claim for exemption, by the authorities below had been upheld, owing mainly 'to the bar contained in sub-section (4) of section 80P of the Act. The facts of the said case were, that it was a "cooperative society" registered under the Andhra Pradesh Mutually Aided Cooperative Societies Act 1955. In…

Dy. C. I. T., Circle - 1, Gorakhpur vs. Baroda Uttar Pradesh Gramin Bank Now Amalgamated With Baroda U.P. Bank, Gorakhpur

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

ITA 55/VNS/2023[2018-2019]Status: DisposedITAT Varanasi26 Sept 2023AY 2018-2019

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

For Appellant: Shri S. K. Garg, AdvocateFor Respondent: Shri Robin Chaudhary, CIT
Section 143(3)Section 2(19)Section 22Section 254Section 271Section 3Section 80PSection 80P(2)(a)

…ndia Savings and Investment Corporation Ltd. reported in (2010) 321 ITR 371. 54. So far as claim of exemption of its income is concerned, we have noted the decision of Hon’ble Supreme Court in the case of Citizen Cooperative Society Ltd. vs. Asstt. CIT (2017) 397 ITR 1, dated 08.1.2017, wherein denial of the appellant's claim for exemption, by the authorities below had been upheld, owing mainly 'to the bar contained in sub-section (4) of section 80P of the Act. The facts of the said case were, that it was a "cooperative society" registered under the Andhra Pradesh Mutually Aided Cooperative Societies Act 1955. In…

Dy. C. I. T., Circle - 1, Gorakhpur vs. Baroda Uttar Pradesh Gramin Bank Now Amalgamated With Baroda U. P.. Bank, Gorakhpur

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

ITA 54/VNS/2023[2017-2018]Status: DisposedITAT Varanasi26 Sept 2023AY 2017-2018

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

For Appellant: Shri S. K. Garg, AdvocateFor Respondent: Shri Robin Chaudhary, CIT
Section 143(3)Section 2(19)Section 22Section 254Section 271Section 3Section 80PSection 80P(2)(a)

…ndia Savings and Investment Corporation Ltd. reported in (2010) 321 ITR 371. 54. So far as claim of exemption of its income is concerned, we have noted the decision of Hon’ble Supreme Court in the case of Citizen Cooperative Society Ltd. vs. Asstt. CIT (2017) 397 ITR 1, dated 08.1.2017, wherein denial of the appellant's claim for exemption, by the authorities below had been upheld, owing mainly 'to the bar contained in sub-section (4) of section 80P of the Act. The facts of the said case were, that it was a "cooperative society" registered under the Andhra Pradesh Mutually Aided Cooperative Societies Act 1955. In…

Dy. C. I. T., Circle - 1, Gorakhpur vs. Baroda Uttar Pradesh Gramin Bank Now Amalgamated With Baroda U.P. Bank, Gorakhpur

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

ITA 53/VNS/2023[2011-2012]Status: DisposedITAT Varanasi26 Sept 2023AY 2011-2012

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

For Appellant: Shri S. K. Garg, AdvocateFor Respondent: Shri Robin Chaudhary, CIT
Section 143(3)Section 2(19)Section 22Section 254Section 271Section 3Section 80PSection 80P(2)(a)

…ndia Savings and Investment Corporation Ltd. reported in (2010) 321 ITR 371. 54. So far as claim of exemption of its income is concerned, we have noted the decision of Hon’ble Supreme Court in the case of Citizen Cooperative Society Ltd. vs. Asstt. CIT (2017) 397 ITR 1, dated 08.1.2017, wherein denial of the appellant's claim for exemption, by the authorities below had been upheld, owing mainly 'to the bar contained in sub-section (4) of section 80P of the Act. The facts of the said case were, that it was a "cooperative society" registered under the Andhra Pradesh Mutually Aided Cooperative Societies Act 1955. In…

Dy. C. I. T., Circle - 1, Gorakhpur vs. Baroda Uttar Pradesh Gramin Bank Now Amalgamated With Baroda U.P. Bank, Gorakhpur

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

ITA 52/VNS/2023[2010-2011]Status: DisposedITAT Varanasi26 Sept 2023AY 2010-2011

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

For Appellant: Shri S. K. Garg, AdvocateFor Respondent: Shri Robin Chaudhary, CIT
Section 143(3)Section 2(19)Section 22Section 254Section 271Section 3Section 80PSection 80P(2)(a)

…ndia Savings and Investment Corporation Ltd. reported in (2010) 321 ITR 371. 54. So far as claim of exemption of its income is concerned, we have noted the decision of Hon’ble Supreme Court in the case of Citizen Cooperative Society Ltd. vs. Asstt. CIT (2017) 397 ITR 1, dated 08.1.2017, wherein denial of the appellant's claim for exemption, by the authorities below had been upheld, owing mainly 'to the bar contained in sub-section (4) of section 80P of the Act. The facts of the said case were, that it was a "cooperative society" registered under the Andhra Pradesh Mutually Aided Cooperative Societies Act 1955. In…

Dy. C. I. T., Circle - 1, Gorakhpur vs. Baroda Uttar Pradesh Gramin Bank Now Amalgamated With Baroda U.P. Bank, Gorakhpur

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

ITA 51/VNS/2023[2009-2010]Status: DisposedITAT Varanasi26 Sept 2023AY 2009-2010

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

For Appellant: Shri S. K. Garg, AdvocateFor Respondent: Shri Robin Chaudhary, CIT
Section 143(3)Section 2(19)Section 22Section 254Section 271Section 3Section 80PSection 80P(2)(a)

…ndia Savings and Investment Corporation Ltd. reported in (2010) 321 ITR 371. 54. So far as claim of exemption of its income is concerned, we have noted the decision of Hon’ble Supreme Court in the case of Citizen Cooperative Society Ltd. vs. Asstt. CIT (2017) 397 ITR 1, dated 08.1.2017, wherein denial of the appellant's claim for exemption, by the authorities below had been upheld, owing mainly 'to the bar contained in sub-section (4) of section 80P of the Act. The facts of the said case were, that it was a "cooperative society" registered under the Andhra Pradesh Mutually Aided Cooperative Societies Act 1955. In…