Citizen Co-operative Society Ltd. v. ACIT

M/S Shri Poornsanda Vividoddesh Souharda Sahakari Niyamitha, Mangalore vs. Income Tax Officer Ward-2(1), Mangalore

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-A” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER Assessment year : 2016-17 M/s. Shri Poornananda Vividoddesha The Income Tax Officer, Souharda Sahakari Sangh Niyamitha, Ward – 2(1), 221, Nalapad Apsara Chambers, Vs. Mangaluru. K. S. Rao Road, Hampankatta, Mangaluru – 575 001. PAN : AADAS 7986 B APPELLANT RESPONDENT Assessee by : Shri. Narendra Sharma, Advocate Revenue by : Shri. Ganesh G. R, Standing Counsel Date of hearing : 20.11.2019 Date of Pronouncement : .12.2019 O R D E R This appeal is filed by the assessee and is directed against the order of lea…

Assisstant Commissioner of Income Tax, TDS Circle, Hubballi vs. M/S. Davanagere Urban Co-Op Bank Ltd, Davanagere

In the result, the appeal of the Revenue is dismissed

Bench: Shri B.R Baskaran & Smt. Beena Pillaiassessment Year : 2012-13

…deduction of tax on interest payments to members without verifying whether the interest payments if any were made to nominal members in light ITA No.1815 /Bang/2018 Page 2 of 12 of Supreme Court decision in the case of Citizen Co- operative Society Limited 397 ITR 1. 2. CIT(A) has ignored the decision rendered by ITAT "B" Bench, Bangalore in the case of Ws The Saraswat Co- Operative Bank Ltd in ITA Nos-1246 to 12491Bang12017 dated 03-11-2017 on similar issue. 3. The appellant carves to add, amend, alter or modify any ground of appeal at the time of hearing of this case.” 3. We heard the parties and perused t…

M/S Urban Co-Operative Credit Society Limited, Ramanagar vs. The Income Tax Officer Ward-1, Ramanagar

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

Bench: Shri N.V. Vasudevan & Shri D.S. Sunder Singhassessment Year: 2015-16

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER Assessment year: 2015-16 M/s. Urban Co-operative Credit Vs. The Income Tax Officer, Society Ltd., Ward 1, Sri Rama Complex, No.1, Church Street, Old B.M. Road, Kanakapura Town – 562 117. Opp. District Court, Ramanagar District. Ramanagar – 562 159. PAN: AAAAU 0541R APPELLANT RESPONDENT Appellant by : Shri B.S. Balachandran, Advocate Respondent by : Shri R. Premi, Jt. CIT(DR)(ITAT) Bengaluru. Date of hearing : 02.12.2019 Date of Pronouncement : 05.12.2019 O R D E R…

Sindhu Credit Souharda Sahakari Niyamita, Sindhanur vs. The Income Tax Officer, Ward- 5, Raichur

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

…ty to get entitlement of deduction u/s. 80P(2)(a)(i) of the IT Act and it is also directed that the AO should examine the applicability of the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. 4. I have considered the rival submissions. Regarding the judgment of Hon'ble Karnataka High Court rendered in the case of Pr. CIT Vs. Vijay Souharda Credit Sahakari Ltd. (supra) on which reliance was placed by ld. DR of revenue as per which the matter was restored back to AO to examine the applicability of the judgment of Hon’ble Apex Court rende…

Siri Sanjeevini Pattina Souharda Sahakari Niyamitha, Raichur vs. The Income Tax Officer, Ward- 5, Raichur

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

…ty to get entitlement of deduction u/s. 80P(2)(a)(i) of the IT Act and it is also directed that the AO should examine the applicability of the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. 4. I have considered the rival submissions. Regarding the judgment of Hon'ble Karnataka High Court rendered in the case of Pr. CIT Vs. Vijay Souharda Credit Sahakari Ltd. (supra) on which reliance was placed by ld. DR of revenue as per which the matter was restored back to AO to examine the applicability of the judgment of Hon’ble Apex Court rende…

Kanak Pattin Sahakari Sangh Niyamit, Bagalkot vs. Income Tax Officer Ward-1, Bagalkot

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

Bench: Shri B.R Baskaran & Assessment Year : 2016-17

…er requires clarification. 8. The principle of Mutuality shall apply when there is parity of contributors and participators, i.e., the contributors as a class should be eligible to participate in profits also. In the case of Citizen Co-operative Society Ltd (397 ITR 1), the AO had brought out the facts that the contributors were all categories of persons, viz., regular members, nominal members and general public. However, it was not proved by the assessee that the very same contributors were also “participators” in profits. Further, majority of income was derived by the above said assessee from nominal members a…

M/S. Athmashakthi Multipurpose Co-Operative Society Limited, Mangaluru vs. The Income Tax Officer, Ward - 1(4), Mangaluru

In the result, the appeal filed by the assessee for Assessment Year 2015-16

Bench: Shri Arun Kumar Garodia

…on of the Karnataka Co- operative Societies Act, 1959 by the assessee after the amendment as on 06.09.2014 and because of this reason, the judgment of the Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1 is squarely applicable and therefore, in Assessment Year 2016-17, the assessee’s claim for deduction u/s. 80P of the IT Act is not allowable because it was held by Hon’ble Apex Court in the case of The Citizen Co-operative Society Ltd. Vs. ACIT (supra), as per para 25 of this judgment that because of the violation of the provisions of MACSA i.e. Mu…

M/S Sri Shakambari Mahila Pattina Sahakari Sangha Niyamitha, Bagalkot vs. Income Tax Officer Ward-1, Bagalkot

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

Bench: Shri Arun Kumar Garodiaassessment Year : 2012-13 M/S. Sri Shakambari Mahila The Income Tax Pattina Sahakari Sangha Niyamit, Officer, At Post: Kerur, Tq. Badami, Vs. Ward – 1, Dist. Bagalkot – 587 206. Bagalkot. Pan: Aacas8906Q Appellant Respondent Assessee By : Ms. Preethi S. Patel, Advocate Revenue By : Shri Ganesh G. Ghale, Standing Counsel Date Of Hearing : 03.09.2019 Date Of Pronouncement : 20.09.2019

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-C” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER Assessment Year : 2012-13 M/s. Sri Shakambari Mahila The Income Tax Pattina Sahakari Sangha Niyamit, Officer, At Post: Kerur, Tq. Badami, Vs. Ward – 1, Dist. Bagalkot – 587 206. Bagalkot. PAN: AACAS8906Q APPELLANT RESPONDENT Assessee by : Ms. Preethi S. Patel, Advocate Revenue by : Shri Ganesh G. Ghale, Standing Counsel Date of hearing : 03.09.2019 Date of Pronouncement : 20.09.2019 O R D E R Per Shri A.K. Garodia, Accountant Member This appeal is filed by the assessee and the same is directed against…

Shree Vijaylaxmi Urban Credit Souharda Sahakari Limited, Dharwad vs. Assistant Commissioner of Income Tax, Circle - 2(1), Hubballi

In the result, appeals by the assessee are treated as allowed for statistical purposes

Bench: Shri Jason P. Boazassessment Year : 2014-15 M/S. Shree Vijaylaxmi Urban Credit Vs. Assistant Commissioner Of Souharda Sahakari Ltd., Income-Tax Malamaddi, Dharwad – 580 007. Circle -2(1), Hubballi. Pan : Aaeas 0544 G Appellant Respondent Assessee By : Shri. Ankur Pai Chungat, Ca Revenue By : Shri. Ganesh R. G., Standing Counsel Date Of Hearing : 08.08.2019 Date Of Pronouncement : 14.08.2019 O R D E R

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-B” BENCH : BANGALORE BEFORE SHRI JASON P. BOAZ, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Shree Vijaylaxmi Urban Credit Vs. Assistant Commissioner of Souharda Sahakari Ltd., Income-Tax Malamaddi, Dharwad – 580 007. Circle -2(1), Hubballi. PAN : AAEAS 0544 G APPELLANT RESPONDENT Assessee by : Shri. Ankur Pai Chungat, CA Revenue by : Shri. Ganesh R. G., Standing Counsel Date of hearing : 08.08.2019 Date of Pronouncement : 14.08.2019 O R D E R This appeal by the assessee is directed against the order of CIT(A), Hubballi, dated 27.03.2019 for Assessment Year 2014-15.…

M/S. Polali Service Co-Operative Society Limited, Bantwal vs. Income Tax Officer, Ward - 2(3), Mangaluru

In the result, the assessee’s appeal for Assessment Year 2016-17 is allowed for statistical purposes

Bench: Shri Jason P Boazassessment Year : 2016-17 M/S. Polali Service Co-Operative Vs. The Income Tax Officer, Society Ltd., Ward – 2[3], D.No.3/126, Post Polai, Mangalore. Bantwal – 574 284. Pan : Aadap 3126 C Appellant Respondent Assessee By : Shri. V. Srinivasan, Advocate Revenue By : Shri. Ganesh R. G, Standing Counsel Date Of Hearing : 05.08.2019 Date Of Pronouncement : 07.08.2019

…as per the bye-laws of the appellant and hence, the appellant was not entitled to deduction u/s. 80P[2][a][i] of the Act having regard to the rationale behind the judgement of the Hon'ble Supreme Court in the case of Citizens Co-operative Society reported in 397 ITR 1 [SC] under the facts and in the circumstances of the appellant's case. 4.The learned CIT[A] ought to have appreciated that the appellant cooperative society had no doubt admitted nominal members, which was permissible under the Karnataka Co-operatives Societies Act, 1959 and that there was no violation of any of the provisions of the Karnataka Co-o…

Sri Udayaravi Souhardha Credit Co-Operative Limited, Tiptur vs. The Income Tax Officer Ward-1, Tiptur

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

Bench: Shri B.R.Baskaran & Smt.Beena Pillai, Judical Member Ita No.313(Bang)/2019 (Assessment Year : 2013-14) M/S Udayaravi Souharda Credit Co-Operative Ltd., Udayaravi Bhavana, 1St Main Road, 7Th Cross, K.R.Extension, Tiptur-572 201. Panno.Aawfs0981J Appellant Vs The Income Tax Officer, Ward-1, Tiptur Respondent Appellant By : Smt Soumya, K. Advocate Revenue By : Shri R.N.Siddappaji, Addl.Cit

…ety as reported in 395 ITR 611 (Karn). He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below has examined and compared the facts of the present case with the facts in the case of The Citizen Co-operative Society Ltd. Vs. ACIT (supra). Regarding the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society (supra), it was submitte…

Gayathri Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer Ward-2(2)(3), Bangalore

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

Bench: Shri B.R.Baskaran & Smt.Beena Pillai, Judical Member Ita No.287(Bang)/2019 (Assessment Year : 2014-15) M/S Gayathri Credit Co-Op. Society Ltd., No.40 & 51, 5Th Cross, Malleshwaram, Bangalore-560 003. Panno.Aaaag7473J Appellant Vs The Income Tax Officer, Ward-2(2)(3), Bangalore Respondent Appellant By : Shri Shree Harikutsa, Ca Revenue By : Shri R.N.Siddappaji, Addl.Cit

…ety as reported in 395 ITR 611 (Karn). He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below has examined and compared the facts of the present case with the facts in the case of The Citizen Co-operative Society Ltd. Vs. ACIT (supra). Regarding the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society (supra), it was submitte…

Income Tax Officer Ward-1, Tiptur vs. M/S Netaji Credit Co-Operative Limited, Tiptur

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

Bench: Shri N.V. Vasudevan & Shri Jason P Boazincome-Tax Officer, Ward-1, Tiptur. … Appellant Vs. M/S.Netaji Credit Co-Operative Ltd., Vinayak Nagar Extensin, Tiptur. … Respondent Appellant By : Shri Vikas Suryavamshi, Addl.Cit(Dr) Respondent By : Smt. Soumya, Advocate. Date Of Hearing: 01/07/2019 Date Of Pronouncement: 17/07/2019 O R D E R Per N.V. Vasudevan, Vp: This Is An Appeal By The Revenue Against The Order Dated 28/01/2019 Of The Cit(Appeals)-7, Bengaluru, Relating To Assessment Year 2013-14. 2. Ground Nos.1, 7 & 8 Raised By The Revenue Are General In Nature & Call For No Specific Adjudication. Ground Nos.2 To 5 Raised By The Revenue Read As Follows:

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT and SHRI JASON P BOAZ, ACCOUNTANT MEMBER Income-tax Officer, Ward-1, Tiptur. … Appellant Vs. M/s.Netaji Credit Co-operative Ltd., Vinayak Nagar Extensin, Tiptur. … Respondent Appellant by : Shri Vikas Suryavamshi, Addl.CIT(DR) Respondent by : Smt. Soumya, Advocate. Date of hearing: 01/07/2019 Date of pronouncement: 17/07/2019 O R D E R Per N.V. VASUDEVAN, VP: This is an appeal by the revenue against the order dated 28/01/2019 of the CIT(Appeals)-7, Bengaluru, relating to assessment year 2013-14. 2. Ground Nos.1,…

M/S. Bharathi Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward- 7(2)(1), Bangalore

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

Bench: Shri J. Sudhakar Reddy, Am & Smt.Beena Pillai, Jm Ita No1023(Bang)/2019 (Assessment Year : 2014-15) M/S Bharathi Credit Co-Op. Society Ltd., 1718, 9Th Main Road, 3Rd Block, Jayanagar, Bangalore-560 011. Panno.Aaalt0604R Appellant Vs The Income Tax Officer, Ward-7(2)(1), Bangalore Respondent Appellant By : Shri B.S.Balachandran, Advocate Revenue By : Shri R.N.Siddappaji, Addl.Cit

…ety as reported in 395 ITR 611 (Karn). He also submitted that an other decision on which reliance has been placed by authorities below, is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. 4. He submitted that none of the authorities below has examined and compared the facts of the present case with the facts in the case of The Citizen Co-operative Society Ltd. Vs. ACIT (supra). Referring to the decision of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society (supra), it was su…