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

M/S. Kalapet Primary Agricultural Co-Op. Society Ltd., Puducherry vs. ITO, Ward-4, Puducherry

ITA 629/CHNY/2020[2013-14]Status: DisposedITAT Chennai08 Jun 2022AY 2013-14

Bench: Shri Mahavir Singhand Shri Girish Agrawal

For Appellant: Shri Vasudevan, AdvocateFor Respondent: Shri Chinthapalli Mehar Chand,JCIT
Section 143(3)Section 154Section 80P(2)Section 80P(2)(a)

…against appeal effect given by AO and passing of assessment order u/s.154 r.w.s. 254 of the Act, assessee preferred appeal before CIT(A). 5. The CIT(A) noted down the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Bank Ltd., vs. ACIT, 397 ITR 1 (SC) 6 I.T.A. Nos.179/Chny/2019, 627 to 630/Chny/2020 for confirming the action of AO in denying the claim of deduction u/s.80P(2)(a)(i) of the Act to the assessee. Aggrieved, assessee preferred appeal before the Tribunal. 6. Now, before us the ld.counsel for the assessee only argued that the issue has been concluded by the decision of Hon’ble Su…

M/S. Kalapet Primary Agricultural Co-Op. Society Ltd., Puducherry vs. ITO, Ward-4, Puducherry

ITA 628/CHNY/2020[2010-11]Status: DisposedITAT Chennai08 Jun 2022AY 2010-11

Bench: Shri Mahavir Singhand Shri Girish Agrawal

For Appellant: Shri Vasudevan, AdvocateFor Respondent: Shri Chinthapalli Mehar Chand,JCIT
Section 143(3)Section 154Section 80P(2)Section 80P(2)(a)

…against appeal effect given by AO and passing of assessment order u/s.154 r.w.s. 254 of the Act, assessee preferred appeal before CIT(A). 5. The CIT(A) noted down the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Bank Ltd., vs. ACIT, 397 ITR 1 (SC) 6 I.T.A. Nos.179/Chny/2019, 627 to 630/Chny/2020 for confirming the action of AO in denying the claim of deduction u/s.80P(2)(a)(i) of the Act to the assessee. Aggrieved, assessee preferred appeal before the Tribunal. 6. Now, before us the ld.counsel for the assessee only argued that the issue has been concluded by the decision of Hon’ble Su…

M/S. Kalapet Primary Agricultural Co-Op. Credit Society Ltd., Pondicherry vs. ITO, Ward-4, Pondicherry

ITA 627/CHNY/2020[2008-09]Status: DisposedITAT Chennai08 Jun 2022AY 2008-09

Bench: Shri Mahavir Singhand Shri Girish Agrawal

For Appellant: Shri Vasudevan, AdvocateFor Respondent: Shri Chinthapalli Mehar Chand,JCIT
Section 143(3)Section 154Section 80P(2)Section 80P(2)(a)

…against appeal effect given by AO and passing of assessment order u/s.154 r.w.s. 254 of the Act, assessee preferred appeal before CIT(A). 5. The CIT(A) noted down the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Bank Ltd., vs. ACIT, 397 ITR 1 (SC) 6 I.T.A. Nos.179/Chny/2019, 627 to 630/Chny/2020 for confirming the action of AO in denying the claim of deduction u/s.80P(2)(a)(i) of the Act to the assessee. Aggrieved, assessee preferred appeal before the Tribunal. 6. Now, before us the ld.counsel for the assessee only argued that the issue has been concluded by the decision of Hon’ble Su…

Kalapet Primary Agricultural Co-Operative Bank Ltd., Pondicherry vs. The Income Tax Officer, Ward -4, Puducherry

ITA 179/CHNY/2019[2009-10]Status: DisposedITAT Chennai08 Jun 2022AY 2009-10

Bench: Shri Mahavir Singhand Shri Girish Agrawal

For Appellant: Shri Vasudevan, AdvocateFor Respondent: Shri Chinthapalli Mehar Chand,JCIT
Section 143(3)Section 154Section 80P(2)Section 80P(2)(a)

…against appeal effect given by AO and passing of assessment order u/s.154 r.w.s. 254 of the Act, assessee preferred appeal before CIT(A). 5. The CIT(A) noted down the decision of Hon’ble Supreme Court in the case of Citizen Co-operative Bank Ltd., vs. ACIT, 397 ITR 1 (SC) 6 I.T.A. Nos.179/Chny/2019, 627 to 630/Chny/2020 for confirming the action of AO in denying the claim of deduction u/s.80P(2)(a)(i) of the Act to the assessee. Aggrieved, assessee preferred appeal before the Tribunal. 6. Now, before us the ld.counsel for the assessee only argued that the issue has been concluded by the decision of Hon’ble Su…

Sea Flama(Dosti Flamingos) Chs Ltd, Mumbai vs. DCIT (E) -1 (1), Mumbai

In the result, all the appeals are allowed

ITA 2317/MUM/2021[2015-16]Status: DisposedITAT Mumbai27 May 2022AY 2015-16
For Appellant: Shri Kishor P. ChoudhariFor Respondent: Shri Avinash Tiwari
Section 80PSection 80P(2)(a)Section 80P(2)(d)

…t has, in the case of The Malvilayi Service Co- operative Bank Ltd. vs. Commissioner of Income (2021) 123 taxman.com 161 (SC), made following observations regarding the judgment of Hon‟ble Supreme Court in the case of Citizen Cooperative Society Ltd vs. ACIT: 397 ITR 1: “22. However, considering that the learned Senior Advocate appearing for the Revenue argued that the concurrent findings of fact in that case were that most of the business of the assessee was conducted illegally with nominal members, who could not be members of such society under the Andhra 10 ITA. No. 2317 to 2320/Mum/2021 Assessment Years: 20…

Shri Mahila Co. Op. Credit Society Ltd., Botad vs. The ACIT, Circle-1, Bhavnagar

In the result, the appeal of the assessee is allowed

ITA 57/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad06 May 2022AY 2017-18
For Appellant: NoneFor Respondent: Shri Umesh Agarwal, Sr. D.R
Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(d)

…After considering the facts and legal finding, we do not find any merit in the appeal of the assessee, therefore, the same is dismissed." 6.8 The above view has also endorsed by the Hon'ble Supreme Court in the matter of Citizen Cooperative Society v. ACIT [397 ITR 1], wherein at para 24, it was held as under: "24) Undoubtedly, if one has to go by the aforesaid definition of 'co-operative bank', the appellant does not get covered thereby. It is also a matter of common knowledge that in order to do the business of a co-operative bank, it is imperative to have a licence from the Reserve Bank of India, which the…

Aa-435 Velankattuvalasuprimary Agricultural Cooperative Credit Society Ltd., Erode vs. ACIT(OSD), Ward 2(3), Range-2, Erode

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

ITA 601/CHNY/2021[2017-18]Status: DisposedITAT Chennai29 Apr 2022AY 2017-18

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Ms. G. Vardhini Karthik, AdvocateFor Respondent: Shri AR. V. Sreenivasan, Addl. CIT
Section 143(1)Section 143(3)Section 148Section 2(6)Section 80PSection 80P(2)(a)

…Bank Ltd., [2017] 392 ITR 55 (Mad) and PCIT vs. S-1308 Ammapet Primary Agricultural Co-operative Bank Ltd., [2020] 426 ITR 244 (Mad). 10. The CIT(A) ought to have seen that the ratio descendi in the case of Citizen Co-operative Society Ltd., vs. ACIT, [2017] 397 ITR 1 (SC) is that Section 80P of the Act, being a benevolent provision to encourage and promote the credit of the co-operative sector in general, must be read liberally and reasonably, and if there is ambiguity, in favour of the assessee. 4. Brief facts are that the assessee is a primary agricultural cooperative society registered under the Tamil Nadu…

Aa-435 Velankattuvalasuprimary Agricultural Cooperative Credit Society Ltd, Erode vs. ACIT(OSD), Ward 2(3), Range-2, Erode

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

ITA 600/CHNY/2021[2011-12]Status: DisposedITAT Chennai29 Apr 2022AY 2011-12

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Ms. G. Vardhini Karthik, AdvocateFor Respondent: Shri AR. V. Sreenivasan, Addl. CIT
Section 143(1)Section 143(3)Section 148Section 2(6)Section 80PSection 80P(2)(a)

…Bank Ltd., [2017] 392 ITR 55 (Mad) and PCIT vs. S-1308 Ammapet Primary Agricultural Co-operative Bank Ltd., [2020] 426 ITR 244 (Mad). 10. The CIT(A) ought to have seen that the ratio descendi in the case of Citizen Co-operative Society Ltd., vs. ACIT, [2017] 397 ITR 1 (SC) is that Section 80P of the Act, being a benevolent provision to encourage and promote the credit of the co-operative sector in general, must be read liberally and reasonably, and if there is ambiguity, in favour of the assessee. 4. Brief facts are that the assessee is a primary agricultural cooperative society registered under the Tamil Nadu…

Nivedita Mahila Gramin Bigar Shetaki Sahakari Pat Sanstha Maryadit, Navargaon vs. Pr. CIT -3, Nagpur

The appeals of the appellant are allowed in terms of aforesaid observation

ITA 123/NAG/2018[2013-2014]Status: DisposedITAT Nagpur28 Apr 2022AY 2013-2014

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 123/Nag/2018 & 107/Nag/2019 आयकर िनधा"रण वष" / Assessment Year : 2013-2014 & 2014-2015 M/S Nivedita Mahila Gramin Bigar Sheti Sahakari Pat Sanstha, Maryadit Dr Hedgewar Chowk, Navargaon, Shindewahi, Chandrapur – 441 223(Mh) Pan : Aaaan 3421 D . . . . . . . अपीलाथ" / Appellant बनाम / V/S. Pr Commissioner Of Income Tax - 3, Aayakar Bhavan, Nagpur – 440 001 (Mh) . . . . . . . ""यथ" / Respondent }Kjk / Appearances Assessee By : Shri Rajesh Loya Revenue By : Shri Pradeep Headoo सुनवाई क" तारीख / Date Of Conclusive Hearing : 15/02/2022 घोषणा क" तारीख / Date Of Pronouncement : 28/04/2022 आदेश / Order Per Jamlappa D Battull, Am; Against The Revisionary Orders Of Principal Commissioner Of Income Tax-3, Nagpur [For Short “Pcit”] Passed U/S 263 Of The Income-Tax Act, 1961 [For Short “The Act”], Which In Turn Sprung Out Of Regular Orders Of Assessments Passed U/S 143(3) Of The Act, By The Income Tax Officer-Ward-3, Nagpur [For Shot “Ao”], The Appellant Assessee Filed These Appeals Before Income Tax Appellate Tribunal [For Short “Tribunal”] U/S 253 Of The Act.

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Pradeep Headoo
Section 143(1)Section 143(3)Section 253Section 263Section 80P

…आयकर अपीलीय "यायािधकरण, नागपुर "यायपीठ, नागपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR (Through Virtual Court at Raipur) BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI JAMLAPPA D BATTULL, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 123/NAG/2018 & 107/NAG/2019 आयकर िनधा"रण वष" / Assessment Year : 2013-2014 & 2014-2015 M/s Nivedita Mahila Gramin Bigar Sheti Sahakari Pat Sanstha, Maryadit Dr Hedgewar Chowk, Navargaon, Shindewahi, Chandrapur – 441 223(Mh) PAN : AAAAN 3421 D . . . . . . . अपीलाथ" / Appellant बनाम / V/s. Pr Commissioner of Income Tax - 3, Aayakar Bhavan, Nagpur – 440 001 (Mh) .…

Tulsiani Chambers Premises Cooperative Society Ltd, Nariman Point vs. WD 17(3) (4), Mumbai

In the result, the four appeals filed by the assessee are allowed

ITA 2459/MUM/2021[2017-18]Status: DisposedITAT Mumbai28 Apr 2022AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

For Appellant: Shri Ashok Rao &For Respondent: Shri B.K. Bagchi.DR
Section 143(1)Section 143(2)Section 143(3)Section 2(19)Section 234ASection 234BSection 80Section 80PSection 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No. 2460/Mum/2021 (A.Y 2016-17) ITA No. 2462/Mum/2021 (A.Y 2014-15) Tulsiani Chambers Vs. ITO, Ward – 17(3)(4) Premises Cooperative Room No. 130, 1st Society Ltd Floor, Kautilya Bhavan 212, Tulsiani Chambers C-41 to 43, G Block, Free Press journal Marg BKC, Bandra (E) Mumbai-400021. Mumbai-400020 "थायी लेखा सं./जीआइआर सं./PAN/GIR No.:AAAAT8890N Appellant .. Respondent Appellant by : Shri Ashok Rao & Shri Manoj Raghani.AR Respondent by : Shri B.K. Bagchi.DR Date of…

Choice Co-Op. Credit Society Ltd., Mumbai vs. ITO 31(1)(3), Mumbai

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

ITA 3659/MUM/2019[2016-17]Status: DisposedITAT Mumbai25 Mar 2022AY 2016-17

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadalechoice Co-Op Credit Vs. Ito Ward 31(1)(3) Society Ltd Pratyakshakar Bhavan Shop No. 9, K-3, Bmc C-13, Bandra Kurla Colony, Goregaon, Complex, Bandra East Mumbai – 400065. Mumbai – 400051. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabac4576H Appellant .. Respondent Appellant By : None Respondent By : Ms.Neena Jeph. Sr. Dr Date Of Hearing 15.03.2022 Date Of Pronouncement 22.03.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm:

For Appellant: NoneFor Respondent: Ms.Neena Jeph. Sr. DR
Section 143(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Choice Co-op Credit Vs. ITO Ward 31(1)(3) Society Ltd Pratyakshakar Bhavan Shop No. 9, K-3, BMC C-13, Bandra Kurla Colony, Goregaon, Complex, Bandra East Mumbai – 400065. Mumbai – 400051. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AABAC4576H Appellant .. Respondent Appellant by : None Respondent by : Ms.Neena Jeph. Sr. DR Date of Hearing 15.03.2022 Date of Pronouncement 22.03.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The assessee has filed the appeal agains…

Jhaverilal Dedhia, Mumbai vs. DCIT, Central Cir 8(2), Mumbai

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

ITA 3657/MUM/2019[2015-16]Status: DisposedITAT Mumbai25 Mar 2022AY 2015-16

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadalechoice Co-Op Credit Vs. Ito Ward 31(1)(3) Society Ltd Pratyakshakar Bhavan Shop No. 9, K-3, Bmc C-13, Bandra Kurla Colony, Goregaon, Complex, Bandra East Mumbai – 400065. Mumbai – 400051. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabac4576H Appellant .. Respondent Appellant By : None Respondent By : Ms.Neena Jeph. Sr. Dr Date Of Hearing 15.03.2022 Date Of Pronouncement 22.03.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm:

For Appellant: NoneFor Respondent: Ms.Neena Jeph. Sr. DR
Section 143(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Choice Co-op Credit Vs. ITO Ward 31(1)(3) Society Ltd Pratyakshakar Bhavan Shop No. 9, K-3, BMC C-13, Bandra Kurla Colony, Goregaon, Complex, Bandra East Mumbai – 400065. Mumbai – 400051. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AABAC4576H Appellant .. Respondent Appellant by : None Respondent by : Ms.Neena Jeph. Sr. DR Date of Hearing 15.03.2022 Date of Pronouncement 22.03.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The assessee has filed the appeal agains…

Sri Bhageeratha Pattina Sahakara Sangha Niyamitha, Hosadurga vs. Income Tax Officer, Ward-3, Davanagere

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

ITA 646/BANG/2021[2017-18]Status: DisposedITAT Bangalore18 Feb 2022AY 2017-18

Bench: Shri B. R. Baskaranassessment Year: 2017-18

For Appellant: Shri Sandeep Chalapathy, A.RFor Respondent: Shri Ganesh R. Ghale, Standing counsel for dept
Section 56Section 68Section 80PSection 80P(2)(a)Section 80P(2)(d)

…t eligible to vote in elections. Accordingly, he took the view that the Principle of mutuality is hit in the case of the assessee. Accordingly, following the decision rendered by Hon’ble Supreme Court in the case of Citizens Co-operative Society Ltd. Vs. ACIT 397 ITR 1, the A.O. held that the assessee is not eligible for deduction u/s 80P(2)(a)(i) of the Sri BhageerathaPattinaSahakara Sangha Niyamitha, Hosadurga Page 3 of 9 Act. Accordingly, he assessed the business income of Rs.1,56,701/- without granting deduction u/s 80P(2)(a)(i) of the Act. The Ld. CIT(A) also confirmed the same. 5. I heard the parties on t…

Kodavoor Vyavasaya Seva Sahakari Sangha Niyamitha vs. Assessing Officer

Accordingly, petition is dismissed

WP/20091/2021HC Karnataka11 Feb 2022

Bench: The Hon'Ble Mr.Justice S. Sunil Dutt Yadav

Section 246

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 11TH DAY OF FEBRUARY, 2022 BEFORE THE HON'BLE MR.JUSTICE S. SUNIL DUTT YADAV WRIT PETITION No.20091/2021 (T-IT) BETWEEN: KODAVOOR VYAVASAYA SEVA SAHAKARI SANGHA NIYAMITHA 16-62, KODAVOOR, POST KODAVOOR, UDUPI - 576 106 REPRESENTED BY ITS C.E.O., MR. SUDHAKAR AGE:46 YEARS. … PETITIONER (BY SRI MAHESH R. UPPIN, ADVOCATE) AND: 1. ASSESSING OFFICER NATIONAL FACELESS ASSESSMENT CENTRE DELHI - 110 001. 2. INCOME TAX OFFICER WARD-1 & TPS AAYAKAR BHAVAN ADI-UDUPI MALPE…

Jumbo Techno Services Pvt Ltd., Mumbai vs. Asst CIT 3 (3), Mumbai

In the result, assessee’s appeal is allowed

ITA 6802/MUM/2019[2010-11]Status: DisposedITAT Mumbai03 Feb 2022AY 2010-11

Bench: Shri Shamim Yahya (Am) & Shri Rahul Chaudhary (Jm) I.T.A. No. 6802/Mum/2019 (Assessment Year 2010-11) Vs. Acit-3(3) Jumbo Techno Services Ltd. 171, C Wing, Mittal Court Aaykar Bhawan Nariman Point M.K.Road Mumbai-400 021 Mumbai-400 020 Pan : Aabcj8752C (Appellant) (Respondent) Shri Aakash Marthak Assessee By Department By Shri S.N.Kabra Date Of Hearing 01.02.2022 Date Of Pronouncement 03.02.2022

Section 271(1)(c)Section 274Section 80P(2)(a)Section 80P(4)

…a three-Judge Bench of the Supreme Court has decided Mavilayi. 165. Mavilayi has noted that the Full Bench of Kerala High Court has reached its conclusion based on the Supreme Court's judgment Citizen Cooperative Society Ltd. v, Asst. CIT, Hyderabad [(2017) 9 SCC 364]. Indeed, Mavilayi acknowledges that the Kerala High Court's Full Bench did follow Citizen Cooperative. But it holds that in Citizen Cooperative Society Ltd., the counsel for the assessee advanced no argument that "the assessing officer and other authorities under the IT Act could not go behind the registration of the I co-operative society in orde…

Manchi Vyavasaya Seva Sahakari Sangha, Bantwal vs. Income Tax Officer, Ward-2, Mangaluru

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

ITA 704/BANG/2021[2017-18]Status: DisposedITAT Bangalore03 Feb 2022AY 2017-18

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2017-18 M/S. Manchi Vyavasaya Seva Sahakari Sangha, 67, Manchi Kukkaje, The Income Tax Manchi Bantwala, Officer, Dakshina Kannada, Ward – 2, Putturu – 574 323, Mangaluru. Vs. Karnataka. Pan: Aaaam4199F Appellant Respondent Assessee By : Shri Ravish Rao, Ca : Shri Sankar Ganesh K, Jcit Revenue By (Dr) Date Of Hearing : 03-02-2022 Date Of Pronouncement : 03-02-2022 Order Per Beena Pillaipresent Appeal By The Assessee Has Been Filed By Assessee Against The Order Dated 18.10.2021 U/S. 250 Passed By The National Faceless Appeal Centre (Nfac), Delhi Relating To Assessment Year 2017-18 On Following Grounds Of Appeal: “1. The Learned Assessing Officer Has Erred In Disallowing The Deduction Claimed By The Cooperative Society Of Z. 60,91,244/- Under Section 80P(2)(A)(I) & The Learned First Appellate Authority Has Erred In Confirming The Orders Of The Assessing Authority.

For Appellant: Shri Ravish Rao, CA
Section 250Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)

…assessee has not violated the law by admitting Nominal Members. 7. On appeal by the assessee, the CIT(A) confirmed the order of the AO by placing reliance on the decision of the Hon'ble Supreme Court in the case of Citizens Co-operative Society Ltd. Vs. ACIT 397 ITR 1 (SC). Aggrieved by the order of the CIT(A), the assessee has preferred the present appeal before the Tribunal. 8. We have heard the rival submissions. Page 5 of 8 On ground Nos.1 to 3, the Ld. A.R. submitted that the law on deduction of 80P(2)(a)(i) of the Act available to credit co-operative societies has since been settled by Hon'ble Supreme Cou…

Shorline Hotel P. Ltd., Mumbai vs. Dy CIT- CC-1(2), Mumbai

In the result, all these appeals by the assessee stand partly allowed

ITA 253/MUM/2021[2009-10]Status: DisposedITAT Mumbai18 Jan 2022AY 2009-10

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Section 271(1)(c)Section 80P(2)(a)Section 80P(4)

…a three-Judge Bench of the Supreme Court has decided Mavilayi. 165. Mavilayi has noted that the Full Bench of Kerala High Court has reached its conclusion based on the Supreme Court's judgment Citizen Cooperative Society Ltd. v, Asst. CIT, Hyderabad [(2017) 9 SCC 364]. Indeed, Mavilayi acknowledges that the Kerala High Court's Full Bench did follow Citizen Cooperative. But it holds that in Citizen Cooperative Society Ltd., the counsel for the assessee advanced no argument that "the assessing officer and other authorities under the IT Act could not go behind the registration of the I co-operative society in orde…

Churu Zila Sahkari Bhoomi Vikas Bank Ltd., Churu vs. ACIT, Circle, Jhunjhunu

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

ITA 29/JPR/2021[2014-15]Status: DisposedITAT Jaipur07 Jan 2022AY 2014-15
For Appellant: Shri G.M. Mehta (CA)For Respondent: Smt. Monisha Choudhary (JCIT)
Section 32Section 80PSection 80P(2)(a)

…lity. Thus, the ld. AR has submitted that the issue is covered by the orders of the ld. CIT(A) for the A.Y. 2010-11 and 2012-13. He has also relied upon the decision of the Hon’ble Supreme Court in the case of Citizen Co- operative Society Ltd. Vs ACIT (2017) 397 ITR 1 (SC) and submitted that Section 80P of the Act is benevolent provisions which was enacted in order to encourage and promote the growth of the cooperative sector. Once the assessee is entitled to avail the deduction, the entire amount of profit and gains of business that are attributable to any one or more activities mentioned in sub-Section (2) of…

Vasavi Credit Co-Operative Society Limited, Bangalore vs. Commissioner of Income Tax Officer (TDS), Bangalore

In the result appeal filed by assessee stands allowed

ITA 335/BANG/2021[2016-17]Status: DisposedITAT Bangalore28 Dec 2021AY 2016-17

Bench: Shri. B.R. Baskaran & Smt. Beena Pillaiassessment Year : 2016-17 M/S. Vasavi Credit Co- Operative Society Ltd., No. 108/1, Sri Chakra, The Commissioner Of East Park Road, Income Tax (Tds), Opp. Vasavi Mahal, Bangalore. Malleshwaram, Vs. Bangalore – 560 003. Pan: Aaajv0152C Appellant Respondent Assessee By : Shri S. Ramasubramanyam, Ca Revenue By : Shri Pradeep Kumar, Cit (Dr) Date Of Hearing : 01-12-2021 Date Of Pronouncement : 28-12-2021 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 29/03/2021 Passed By The Ld.Cit (Tds), Bangalore For Ay 2016- 17 On Following Grounds Of Appeal: “1. That The Order Of The Learned Commissioner Of Income- Tax (Tds) In So Far It Is Prejudicial To The Interests Of The Appellant, Is Bad & Erroneous In Law & Against The Facts & Circumstances Of The Case. 2. That The Learned Commissioner Of Income-Tax (Tds) Erred In Law & On Facts In Invoking Provisions Of Section 263 Of The Act With Respect To The Order Passed U/S. 201(1) & 201(1A) On The Ground That They Are Erroneous & Prejudicial To The Interests Of The Revenue.

For Appellant: Shri S. Ramasubramanyam, CAFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 18Section 194ASection 194A(3)(i)Section 194A(3)(v)Section 201Section 201(1)Section 263

…te members are not to be treated as members on the ground that they are not entitled to participate in the management and have no voting rights. The Ld.AO relied on the decision of the Hon'ble Supreme Court in Citizens Co-operative Society Vs ACIT reported in 397 ITR 1. 2.3 Aggrieved by the order of the Ld.AO, the assessee preferred appeal before the Ld.CIT(A) who dismissed the submissions. 2.4 Aggrieved by the order of the Ld.CIT(A), the assessee filed appeal before this Tribunal. 2.5 This Tribunal vide its order dated 18.01.2021 in ITA Nos. 412 and 413/Bang/2020 held that the associate members are also members,…

Assistant Commissioner of Income Tax, TDS - Circle, Hubballi vs. M/S Shimoga District Co-Operative Central Bank Ltd, Shivamogga

In the result, the appeal by the revenue is dismissed

ITA 295/BANG/2019[2012-13]Status: DisposedITAT Bangalore21 Dec 2021AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2012-13

For Appellant: Capt. Pradeep Shoury AryaFor Respondent: Shri L. Bharath, CA
Section 194Section 194ASection 194A(3)(v)Section 197ASection 201(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment year: 2012-13 The Assistant Commissioner Vs. M/s. Shimoga District Co- of Income Tax, operative Central Bank Ltd., TDS – Circle, HO Balraj Urs Road, Navanagar, Shimoga – 5600 060. Hubballi – 580 025. APPELLANT RESPONDENT Appellant by : Capt. Pradeep Shoury Arya, Addl.CIT(DR)(ITAT), Bengaluru. Respondent by : Shri L. Bharath, CA Date of hearing : 21.12.2021 Date of Pronouncement : 21.12.2021 O R D E R Per Chandra Poojari, Accountant Member This appeal by t…