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 369,743 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

K1104 Elayamuthur Promary Agricultural Co-Operative Credit Society, Tiruppur vs. ITO, Ward 2(4), Tiruppur

In the result, appeals filed by the assessee for both the

ITA 1040/CHNY/2024[2016-17]Status: DisposedITAT Chennai18 Sept 2024AY 2016-17

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 1040 & 1041/Chny/2024 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 K 1104 Elayamuthur Primary Income Tax Officer, Agricultural Co-Operative Credit V. Ward -2(4), Society, Tirupur. Elayamuthur, Udumalpet, Tirupur – 642 154. [Pan: Aabak-3636-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. R.V. Aroonprasaad, Addl.Cit सुनवाईकीतारीख/Date Of Hearing : 23.07.2024 घोषणाकीतारीख/Date Of Pronouncement : 18.09.2024

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT
Section 143(1)Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

…xus with the contributors and participators is solely missing. Thereafter, the Assessing Officer held that the facts involved in the assessee's case are similar to the case of Citizen Co-operative Society Ltd [Civil Appeal No. 10245 of 2017 reported in (2017) 397 ITR 1] and applying the ratio of the Hon'ble Apex Court disallowed the deduction claimed u/s 80P. 6.1 The Hon'ble Supreme Court in the case of Mavilayi Service Co-Operative Bank Ltd Vs Commissioner Of Income Tax (2021) 431 ITR 1 (SC) dated 12.01.2021 while confirming its own judgment in the case of Citizen Co-operative Society Limited Vs Assistant Commi…

Nava Karnataka Souhard Credit Co-Operative Limited, Hospet vs. Income Tax Officer, Ward-1 & Tps, Hosapete

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

ITA 1428/BANG/2024[2018-19]Status: DisposedITAT Bangalore10 Sept 2024AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2018-19

For Appellant: Smt. Harsha J., A.RFor Respondent: Shri V. Parithivel, D.R
Section 142(1)Section 143(1)Section 143(2)Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ded details/information on the e-portal. After perusing and considering the details/information submitted during the course of assessment proceedings, the AO relying on the decision of Hon’ble Apex Court in the case of Citizen Co-operative Society Ltd. (2017) 397 ITR 1 is of the view that that the assessee was not capable of having the right to claim the deduction u/s 80P2(a)(i) as it has failed in satisfying the appropriate conditions. Assessee was not licensed to deal with public and it is clearly provided in the sub-clause (i) of clause (a) of sub-section (2) of section 80P that deduction shall be allowed in t…

The Principal Commissioner of Income Tax, Kottayam vs. M/S.Sahyadri Co-Operative Credit Soceity Limited

The appeal is disposed of as indicated above

ITA/1/2018HC Kerala04 Sept 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Appellant: THE PRINCIPAL COMMISSIONER OF INCOME TAXFor Respondent: M/S. SAHYADRI CO-OPERATIVE CREDIT SOCIETY LTD

…a and Mahindra Ltd. [(1983) 4 SCC 392]). Therefore, it hardly needs to be emphasised that all those cooperative societies which fall within the purview of Section 80-P of the Act are entitled to deduction in respect of any income referred to 3 (2017) 9 SCC 364 ITA Nos.68/2017, 196/2019, 63/2019, 1/2018, 219/2019 -21- in sub-section (2) thereof. Clause (a) of sub-section (2) gives exemption of whole of the amount of profits and gains of business attributable to any one or more of such activities which are mentioned in sub-section (2). Therefore, the definition is in the Income Tax Act from…

The Principal Commissioner of Income Tax vs. M/S.Sahyadri Co-Operative Credit Society Ltd

The appeal is disposed of as indicated above

ITA/196/2019HC Kerala04 Sept 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Appellant: THE PRINCIPAL COMMISSIONER OF INCOME TAXFor Respondent: M/S. SAHYADRI CO-OPERATIVE CREDIT SOCIETY LTD

…a and Mahindra Ltd. [(1983) 4 SCC 392]). Therefore, it hardly needs to be emphasised that all those cooperative societies which fall within the purview of Section 80-P of the Act are entitled to deduction in respect of any income referred to 3 (2017) 9 SCC 364 ITA Nos.68/2017, 196/2019, 63/2019, 1/2018, 219/2019 -21- in sub-section (2) thereof. Clause (a) of sub-section (2) gives exemption of whole of the amount of profits and gains of business attributable to any one or more of such activities which are mentioned in sub-section (2). Therefore, the definition is in the Income Tax Act from…

Blue Rose Industrial Premises Co-Op Society Ltd, Mumbai vs. Income Tax Officer, Ward - 42(1)(1), Mumbai

In the result, the assessee’s appeal ITA NO

ITA 2330/MUM/2024[2018-19]Status: DisposedITAT Mumbai30 Aug 2024AY 2018-19

Bench: SHRI PRASHANT MAHARISHI (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 142(1)Section 143(2)Section 250Section 270ASection 80PSection 80P(2)(d)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘K(SMC)’ BENCH MUMBAI BEFORE: SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. 2329/MUM/2024 (Assessment Year : 2021–22) Blue Rose Industrial Vs. JAO- Income Tax Officer Premises Co-op Ward(1)(1) Society Ltd Kautilya Bhawan, 43, Blue Rose “G” Block Bandra Kurla Industrial Premises Complex, Co-op Society Ltd, Bandra (East), Western Express Mumbai-400051. Highway, Borivali(East), Mumbai-400068. PAN/GIR No. AAAAB3779Q (Appellant) .. (Respondent) Assessee by Shri. Ajay Singh Revenue by Shri. Rajneesh Yadav Sr. DR Date of Hearing 2…

Blue Rose Industrial Premises Co-Op Society Ltd, Mumbai vs. Income Tax Officer, Ward - 42(1)(1), Mumbai

In the result, the assessee’s appeal ITA NO

ITA 2329/MUM/2024[2021-22]Status: DisposedITAT Mumbai30 Aug 2024AY 2021-22

Bench: SHRI PRASHANT MAHARISHI (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 142(1)Section 143(2)Section 250Section 270ASection 80PSection 80P(2)(d)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘K(SMC)’ BENCH MUMBAI BEFORE: SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. 2329/MUM/2024 (Assessment Year : 2021–22) Blue Rose Industrial Vs. JAO- Income Tax Officer Premises Co-op Ward(1)(1) Society Ltd Kautilya Bhawan, 43, Blue Rose “G” Block Bandra Kurla Industrial Premises Complex, Co-op Society Ltd, Bandra (East), Western Express Mumbai-400051. Highway, Borivali(East), Mumbai-400068. PAN/GIR No. AAAAB3779Q (Appellant) .. (Respondent) Assessee by Shri. Ajay Singh Revenue by Shri. Rajneesh Yadav Sr. DR Date of Hearing 2…

Cidco Employees Co-Op. Credit Society Ltd, Navi Mumbai vs. Ward 28(1)(3), Navi Mumbai

In the result, appeal of the assessee is allowed

ITA 696/MUM/2024[2013-14]Status: DisposedITAT Mumbai29 Aug 2024AY 2013-14

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sunil Kumar Singh, Hon’Ble

For Appellant: Shri Bhupendra Shah, A/RFor Respondent: Shri R.R. Makwana, Sr. D/R
Section 22Section 5Section 56Section 80P

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, HON’BLE JUDICIAL MEMBER I.T.A. No. 696/Mum/2024 Assessment Year: 2013-14 CIDCO Employees’ Co-op. Credit Income Tax Officer, 28(1)(3), Society Ltd. Mumbai Vs Ground Floor, CIDCO Bhavan CBD-Belapur Navi Mumbai - 400614 [PAN: AAAAC2203N] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Bhupendra Shah, A/R Revenue by : Shri R.R. Makwana, Sr. D/R सुनवाई की तारीख/Date of Hearing : 27/08/2024 घोषणा की तारीख/Date of Pronouncem…

Shri Shivaji Maharaj Credit Co-Op Society Ltd, Bijapur vs. Income Tax Officer, Ward-1 and Tps, Vijaypur

ITA 976/BANG/2024[2015-16]Status: DisposedITAT Bangalore22 Aug 2024AY 2015-16
Section 80P(2)(a)Section 80P(2)(d)

…Nos. 939, 940 & 976/Bang/2024 the presence of nominal and associate members to whom the credit facilities were extended by the assessee. The Ld.AO relied on the decision of Hon'ble Supreme Court in case of Citizen Co- operative Society Ltd. reported in (2017) 397 ITR 1 to disallow the claim of the assessee. Aggrieved by the order of the Ld.AO, assessee preferred appeals before the Ld.CIT(A). 4. Before the Ld.CIT(A), assessee submitted that assessee is eligible for 80P(2)(a)(i) deduction in respect of the interest earned on credit facilities provided / extended to the members. In support of the claim, assessee rel…

Shri Shivaji Maharaj Credit Co-Op Society, Bijapur vs. Income Tax Officer Ward-1 and Tps, Vijapur

ITA 940/BANG/2024[2018-19]Status: DisposedITAT Bangalore22 Aug 2024AY 2018-19
Section 80P(2)(a)Section 80P(2)(d)

…Nos. 939, 940 & 976/Bang/2024 the presence of nominal and associate members to whom the credit facilities were extended by the assessee. The Ld.AO relied on the decision of Hon'ble Supreme Court in case of Citizen Co- operative Society Ltd. reported in (2017) 397 ITR 1 to disallow the claim of the assessee. Aggrieved by the order of the Ld.AO, assessee preferred appeals before the Ld.CIT(A). 4. Before the Ld.CIT(A), assessee submitted that assessee is eligible for 80P(2)(a)(i) deduction in respect of the interest earned on credit facilities provided / extended to the members. In support of the claim, assessee rel…

Shri Shivaji Maharaj Credit Co-Op Society, Bijapur vs. Income Tax Officer Ward-1 and Tps, Vijapur

ITA 939/BANG/2024[2017-18]Status: DisposedITAT Bangalore22 Aug 2024AY 2017-18
Section 80P(2)(a)Section 80P(2)(d)

…Nos. 939, 940 & 976/Bang/2024 the presence of nominal and associate members to whom the credit facilities were extended by the assessee. The Ld.AO relied on the decision of Hon'ble Supreme Court in case of Citizen Co- operative Society Ltd. reported in (2017) 397 ITR 1 to disallow the claim of the assessee. Aggrieved by the order of the Ld.AO, assessee preferred appeals before the Ld.CIT(A). 4. Before the Ld.CIT(A), assessee submitted that assessee is eligible for 80P(2)(a)(i) deduction in respect of the interest earned on credit facilities provided / extended to the members. In support of the claim, assessee rel…

Karavali Souharda Credit Cooperative Limited, Davanagere vs. The Income Tax Officer, Ward-1(3), Davanagere

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

ITA 1198/BANG/2024[2016-17]Status: DisposedITAT Bangalore21 Aug 2024AY 2016-17

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2016-17

For Appellant: Shri Ramanagowda S. Gowdar, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment year : 2016-17 Karavali Souharda Credit Vs. The Income Tax Officer, Cooperative Limited, Ward 1(3), No.2550/2, Prathik Complex, Davangere. 6th Main, MCC A Block, Davnagere – 577 004. PAN : AAAAK 4258M APPELLANT RESPONDENT Appellant by : Shri Ramanagowda S. Gowdar, Advocate Respondent by : Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru. Date of hearing : 01.08.2024 Date of Pronouncement : 21.08.2024 O R D E R Per Laxmi Prasad Sahu, Accountant Member This ap…

M/S. Arjuna Souhardha Pathina Sahakari Niyamitha, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Bengaluru

In the result, both the appeals filed by the assessee stands allowed for statistical purposes

ITA 1220/BANG/2024[2015-16]Status: DisposedITAT Bangalore13 Aug 2024AY 2015-16

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Ms. Lakshmi .S, Advocate
Section 51

…s. 80P(2)(a)(i) of the act in accordance with law. The Ld.AR submitted that, the assessing officer once again dismissed the claim of assessee by relying on the decision of Hon’ble Supreme Court in case of Citizen Co-operative Society Ltd. vs. ACIT reported in 397 ITR 1. He submitted that the authorities below did not consider the decision of Hon’ble Supreme Court in case of Mavilayi Service Co- operative Bank Ltd. v. CIT reported in 431 ITR 1. It is submitted that the facts of the assessee is different Page 5 of 6 ITA Nos. 1220 & 1221/Bang/2024 from the facts considered by Hon’ble Supreme Court in case of Citize…

The Tungabhadra Credit Cooperative Society, Davangere vs. Income Tax Officer, Ward - 1, Davangere

In the result, all the three appeals filed by the assessee stands allowed for statistical purposes

ITA 1201/BANG/2024[2017-18]Status: DisposedITAT Bangalore12 Aug 2024AY 2017-18

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Kotresh K, CAFor Respondent: Ms. Neha Sahay, JCIT-DR
Section 51

…/s. 80P(2)(a)(i) of the act in accordance with law. The Ld.AR submitted that the assessing officer once again dismissed the claim of assessee by relying on the decision of Hon’ble Supreme Court in case of Citizen Co-operative Society Ltd. vs. ACIT reported in 397 ITR 1. He submitted that the authorities below has not considered the decision of Hon’ble Supreme Court in case of Mavilayi Service Co- operative Bank Ltd. v. CIT reported in 431 ITR 1 as the facts of the assessee is different from the facts considered by Hon’ble Supreme Court in case of Citizen Co- operative Society Ltd. vs. ACIT (supra). Page 9 of 10…

The Tungabhadra Credit Cooperative Society, Davangere vs. Income Tax Officer, Ward-1, Davangere

In the result, all the three appeals filed by the assessee stands allowed for statistical purposes

ITA 1199/BANG/2024[2013-14]Status: DisposedITAT Bangalore12 Aug 2024AY 2013-14

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Kotresh K, CAFor Respondent: Ms. Neha Sahay, JCIT-DR
Section 51

…/s. 80P(2)(a)(i) of the act in accordance with law. The Ld.AR submitted that the assessing officer once again dismissed the claim of assessee by relying on the decision of Hon’ble Supreme Court in case of Citizen Co-operative Society Ltd. vs. ACIT reported in 397 ITR 1. He submitted that the authorities below has not considered the decision of Hon’ble Supreme Court in case of Mavilayi Service Co- operative Bank Ltd. v. CIT reported in 431 ITR 1 as the facts of the assessee is different from the facts considered by Hon’ble Supreme Court in case of Citizen Co- operative Society Ltd. vs. ACIT (supra). Page 9 of 10…

Cidco Employees Co-Op. Credit Society Ltd, Navi Mumbai vs. Ward 28(1)(3), Navi Mumbai

In the result, the assessee‟s appeal ITA NO

ITA 699/MUM/2024[2018-19]Status: DisposedITAT Mumbai07 Aug 2024AY 2018-19

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 142(1)Section 143(1)Section 143(2)Section 250Section 271(1)(C)Section 80PSection 80P(4)

…Reportable IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH MUMBAI BEFORE: SHRI GAGAN GOYAL, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. 698/MUM/2024 (Assessment Year : 2017–18) CIDCO Employees Vs. ITO Ward 28(1)(3) Co–op. Credit 3rd Floor, Tower no. 6, Society, Vashi Railway Station, Ground Floor, Vashi, Navi Mumbai, CIDCO Bhavan, 400703. CBD–Belapur, Navi Mumbai, 400614. PAN/GIR No. AAAAC2203N (Appellant) .. (Respondent) Assessee by Shri. Bhupendra Shah Revenue by Shri. H.M. Bhatt (SR. DR.) Date of Hearing 03/06/2024 (in ITA no. 698/Mum/2024 & ITA no. 699/MUM/2024) 04/06/2024 (in ITA…

Cidco Employees Co-Op. Credit Society Ltd, Navi Mumbai vs. Ward 28(1)(3), Navi Mumbai

In the result, the assessee‟s appeal ITA NO

ITA 698/MUM/2024[2017-18]Status: DisposedITAT Mumbai07 Aug 2024AY 2017-18

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 142(1)Section 143(1)Section 143(2)Section 250Section 271(1)(C)Section 80PSection 80P(4)

…Reportable IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH MUMBAI BEFORE: SHRI GAGAN GOYAL, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. 698/MUM/2024 (Assessment Year : 2017–18) CIDCO Employees Vs. ITO Ward 28(1)(3) Co–op. Credit 3rd Floor, Tower no. 6, Society, Vashi Railway Station, Ground Floor, Vashi, Navi Mumbai, CIDCO Bhavan, 400703. CBD–Belapur, Navi Mumbai, 400614. PAN/GIR No. AAAAC2203N (Appellant) .. (Respondent) Assessee by Shri. Bhupendra Shah Revenue by Shri. H.M. Bhatt (SR. DR.) Date of Hearing 03/06/2024 (in ITA no. 698/Mum/2024 & ITA no. 699/MUM/2024) 04/06/2024 (in ITA…

Cidco Employees Co-Op. Credit Society Ltd, Navi Mumbai vs. Ward 28(1)(3), Navi Mumbai

In the result, the assessee‟s appeal ITA NO

ITA 697/MUM/2024[2014-15]Status: DisposedITAT Mumbai07 Aug 2024AY 2014-15

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 142(1)Section 143(1)Section 143(2)Section 250Section 271(1)(C)Section 80PSection 80P(4)

…Reportable IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH MUMBAI BEFORE: SHRI GAGAN GOYAL, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. 698/MUM/2024 (Assessment Year : 2017–18) CIDCO Employees Vs. ITO Ward 28(1)(3) Co–op. Credit 3rd Floor, Tower no. 6, Society, Vashi Railway Station, Ground Floor, Vashi, Navi Mumbai, CIDCO Bhavan, 400703. CBD–Belapur, Navi Mumbai, 400614. PAN/GIR No. AAAAC2203N (Appellant) .. (Respondent) Assessee by Shri. Bhupendra Shah Revenue by Shri. H.M. Bhatt (SR. DR.) Date of Hearing 03/06/2024 (in ITA no. 698/Mum/2024 & ITA no. 699/MUM/2024) 04/06/2024 (in ITA…

Sri Basaveshwara Vividoddesha Sahakara Sangha Niyamitha, Hosadurga vs. Income-Tax Officer, Ward-1, Chitradurga

In the result, the appeal filed by the assessee stands partly allowed

ITA 772/BANG/2024[2016-17]Status: DisposedITAT Bangalore01 Aug 2024AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 Sri Basaveshwara Vividoddesha Sahakara Sangha The Income Tax Niyamitha, Officer, Vasavi Mahal Road, Ward – 1, Near Bus Stand, Chitradurga. Vs. Hosadurga – 577 527. Pan: Aacas5404M Appellant Respondent

For Appellant: Shri Sandeep Chalapathy, CAFor Respondent: Advocate, Standing Counsel for Dept
Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC-‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2016-17 Sri Basaveshwara Vividoddesha Sahakara Sangha The Income Tax Niyamitha, Officer, Vasavi Mahal Road, Ward – 1, Near Bus Stand, Chitradurga. Vs. Hosadurga – 577 527. PAN: AACAS5404M APPELLANT RESPONDENT Assessee by : Shri Sandeep Chalapathy, CA Shri Ganesh R. Ghale, Revenue by : Advocate, Standing Counsel for Dept. Date of Hearing : 04-07-2024 Date of Pronouncement : 01-08-2024 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal arises…

Aiho Samabay Krishi Unnayan Samity Ltd., Malda vs. ITO, Ward-3(1), Malda

ITA 129/KOL/2024[2017-18]Status: DisposedITAT Kolkata30 Jul 2024AY 2017-18

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.129/Kol/2024 Assessment Year: 2017-18 Aiho Samabay Krishi Unnayan Samity Ltd..……………....………....Appellant Jadab Nagar, Aiho Maldah – 732121. [Pan: Aabaa0284A] Vs. Ito, Ward-3(1), Malda….….................................................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 28, 2024 Date Of Pronouncing The Order : July 30 , 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee-Society Against The Order Dated 29.11.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee-Society In This Appeal Has Taken The Following Grounds Of Appeal: “1. For That The Ld. Cit(A) Was Not Justified In Confirming The Action Of The A.O (Cpc) In Not Granting The Benefit Of Deduction U/S 80(P) To The Tune Of Rs.35,83,555/- In Respect Of Income Earned From Deposits With Bank From Non-Agricultural Purposes. 2. For That The Ld. Cit(A) Was Not Justified In Confirming The Action Of The A.O (Cpc) To Disallowance Of The Cash Deposit During The Demonetization Period Amounting To Rs.1,86,30,500/- & Wrongly Added Total Rs.2,22,14,055 As Taxable Income.

Section 250Section 5Section 80Section 80PSection 80P(2)(a)Section 80P(4)

…has failed to give the specific details of financials, members wise and non members wise and further has not confirmed that the transactions are not done with non-members. 3.8 The Hon’ble Supreme Court in the case of The Citizen Co-operative Society Limited 397 ITR 1 (SC) has held that “the assessee was engaged in the activity of granting loans to members of the general public as well and this was done without approval from…

Bellare C A Bank Ltd., Bellare vs. Income Tax Officer, Ward-1, Puttur

ITA 272/BANG/2024[2017-18]Status: DisposedITAT Bangalore30 Jul 2024AY 2017-18

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri Subramanian S., Jt.CIT(DR)(ITAT), Bengaluru
Section 57Section 80Section 80(2)(a)Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…utiny and statutory notices were issued. During the assessment proceedings, the AO noted that assessee has violated principle of mutuality as held by Apex Court in the case of Citizen Co- operative Society Ltd. in Civil Appeal No.10245/2017 reported in (2017) 397 ITR 1 and denied deduction u/s. 80P(2)(a)(i) of the Act. The AO further noted that assessee has received interest/dividend from its investments in scheduled bank and cooperative bank of Rs.65,97,441 (interest 57,18,316 + dividend 8,79,125). The assessee had included this income for the purpose of claiming deduction u/s. 80P. The AO relied on the judgment…