Co-operative Bank Ltd. v. CIT

The ITO WD-2(3), Kozhikkode vs. M/S.Perumanna Service Co-Op Bank Ltd, Kozhikkode

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

The ITO WD-2(3), Kozhikkode vs. M/S.Perumanna Service Co-Op Bank Ltd, Kozhikkode

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

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

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

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

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

The ITO, Calicut vs. The Meppayur Service Co-Op Bank Ltd, Calicut

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

The ITO, Calicut vs. The Meppayur Service Co-Op Bank Ltd, Calicut

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

The ITO Ward-1, Tirur vs. M/S, the Ponmundam Service Co-Op Bank Ltd, Malappuram

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…uction u/s 80P(2)(a)(i) of the Act, the assessees preferred appeals before the first appellate authority. The CIT(A) following the judgment of the Hon'ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessees were entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred these appeals before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limite…

The ITO, Ward-1, Kannur vs. M/S.the Kararinakam Service Co-Op Bank Ltd, Kannur

In the result, these appeals filed by the Revenue

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…eduction u/s 80P(2)(a)(i) of the Act, the assessee preferred appeal before the first appellate authority. The CIT(A) following the judgment of the Hon’ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] held that the assessee was entitled to the benefit of deduction u/s 80P(2) of the Act. 4. Aggrieved by the order of the CIT(A), the Revenue has preferred this appeal before the Tribunal, raising following grounds:- 7. In view of the recent decision of the Hon'ble Supreme Court in the case of The Citizens Co- Operative Society limited vs…

The ITO, Kozhikkode vs. M/S.Meenangadi Service Co-Op Bank Ltd, Wayanad

Bench: Shri George George K., Jm

…ssessees preferred appeals to the first appellate authority. The CIT(A) decided the issue in favour of the assessees by following the judgment of the Hon’ble Jurisdictional High Court in the case of Chirakkal Service Co-operative Bank Ltd. vs.CIT reported in 384 ITR 490. 5. Aggrieved by the orders of the CIT(A), the Revenue has filed the present appeals before the Tribunal. Identical grounds are raised in these three appeals and they read as follows: 1 In view of the recent decision of the Honble Supreme Court in the case of the Citizens Co-operative Society Limited vs. Assistant Commissioner of Income-tax, Cir…

The Ward-1, Kalpetta vs. M/S.Vythiri Service Co-Op Bank Ltd, Wayanad

Bench: Shri George George K., Jm

…ssessees preferred appeals to the first appellate authority. The CIT(A) decided the issue in favour of the assessees by following the judgment of the Hon’ble Jurisdictional High Court in the case of Chirakkal Service Co-operative Bank Ltd. vs.CIT reported in 384 ITR 490. 5. Aggrieved by the orders of the CIT(A), the Revenue has filed the present appeals before the Tribunal. Identical grounds are raised in these three appeals and they read as follows: 1 In view of the recent decision of the Honble Supreme Court in the case of the Citizens Co-operative Society Limited vs. Assistant Commissioner of Income-tax, Cir…

The ITO, Ward-2(4), Kozhikkode vs. M/S.the Thariidoe Service Co-Op Bank Ltd, Wayanad

Bench: Shri George George K., Jm

…ssessees preferred appeals to the first appellate authority. The CIT(A) decided the issue in favour of the assessees by following the judgment of the Hon’ble Jurisdictional High Court in the case of Chirakkal Service Co-operative Bank Ltd. vs.CIT reported in 384 ITR 490. 5. Aggrieved by the orders of the CIT(A), the Revenue has filed the present appeals before the Tribunal. Identical grounds are raised in these three appeals and they read as follows: 1 In view of the recent decision of the Honble Supreme Court in the case of the Citizens Co-operative Society Limited vs. Assistant Commissioner of Income-tax, Cir…

The DCIT, Trivandrum vs. M/S.Navaikulam Service Co-Op Bank Ltd, Trivandrum

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…rieved by the assessment order, the assessee preferred an appeal to the first appellate authority. The CIT(A) following the judgment of the Hon’ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others v. CIT [(2016) 384 ITR 490 (Ker.)] held that assessee is entitled to the benefit of deduction u/s 80P(2) of the I.T.Act. 5. Aggrieved by the order of the CIT(A), the Revenue has filed the present appeal before the Tribunal. The learned Departmental Representative relied on the grounds raised in the memorandum of appeal and supported the order of assessment. The learned AR…

The ITO, Tirur vs. M/S. Nannambra Service Co-Op Bank Ltd, Malappuram

Bench: S/Shri Chandra Poojari , Am & George George K., Jm

…ssessee preferred appeals to the first appellate authority. The CIT(A) decided the issue in favour of the assessee by following the judgment of the Hon’ble Jurisdictional High Court in the case of Chirakkal Service Co-operative Bank Ltd. vs.CIT reported in 384 ITR 490. 6. Aggrieved by the consolidated order of the CIT(A), the Revenue has filed the present appeals before the Tribunal. The Ld. DR, apart from relying on the grounds and the additional grounds raised by the Revenue, has filed a brief written submission. The contents of the same are reproduced below: “In the case of NSCB Ltd, out of the total loan…

The ITO, Ward, 2, Tirur vs. M/S.East Ernad Service Co-Op Bank Ltd, Edakkara P.O., Malappuram

In the result, these appeals filed by the Revenue are dismissed

Bench: Shri George George K., Jm (Smc)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI GEORGE GEORGE K., JM (SMC) I.T.A. Nos.416 & 417/Coch/2017 Assessment Years : 2008-09 & 2013-14 The Income Tax Officer, Vs. | M/s. East Ernad Service Co- Ward-2, Tirur operative Bank Ltd. Edakkara P.O., Malappuram-679 331. [PAN: AACAT 1200G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Shri A. Dhanaraj, Sr. DR Assessee_ by None Date of hearing 24/01/2018 Date of pronouncement 01/02/2018 ORDER Per GEORGE GEORGE K. JUDICIAL MEMBER: These appeals at the instance of the Revenue are directed against the consolidated order of the CIT(…

The ITO, Ward-2, Tirur vs. M/S.East Ernad Service Co-Op Bank Ltd, Malappuram

In the result, these appeals filed by the Revenue are dismissed

Bench: Shri George George K., Jm (Smc)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI GEORGE GEORGE K., JM (SMC) I.T.A. Nos.416 & 417/Coch/2017 Assessment Years : 2008-09 & 2013-14 The Income Tax Officer, Vs. | M/s. East Ernad Service Co- Ward-2, Tirur operative Bank Ltd. Edakkara P.O., Malappuram-679 331. [PAN: AACAT 1200G] (Revenue-Appellant) (Assessee-Respondent) Revenue by Shri A. Dhanaraj, Sr. DR Assessee_ by None Date of hearing 24/01/2018 Date of pronouncement 01/02/2018 ORDER Per GEORGE GEORGE K. JUDICIAL MEMBER: These appeals at the instance of the Revenue are directed against the consolidated order of the CIT(…

The ITO, Ward-2, Tirur vs. M/S.Nilambur Service Co-Op Bankltd, Malappuram

In the result, these appeals filed by the Revenue are dismissed

Bench: Shri George George K., Jm (Smc)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI GEORGE GEORGE K., JM (SMC) 1.T.A. No.400/Coch/2017 Assessment Year : 2013-14 The Income Tax Officer, Vs. | M/s. Nilambur Service Co- Ward-2, Tirur operative Bank Ltd., Chandakkunnu Post, Malappuram-676 329. [PAN: AABAN 8659C] (Revenue-Appellant) (Assessee-Respondent) Revenue by Shri A. Dhanaraj, Sr. DR Assessee by None Date of hearing 24/01/2018 Date of pronouncement 01/02/2018 ORDER Per GEORGE GEORGE K. JUDICIAL MEMBER: This appeal at the instance of the Revenue is directed against the order of the CIT(A), Kozhikode dated 03/05/2017…

M/S Karakulam Service Co-Op Bank Ltd, Trivandrum vs. The ITO, Trivandrum

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…d `business or profession’ for an amount of 3 SP No.68/Coch/2017. M/s.Karakulam SCB Limited. Rs.55,85,688. The CIT(A) followed the judgment of the Hon’ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd. and Others [(2016) 384 ITR 490 (Ker.)] With regard to `income from other sources’, the CIT(A) rejected the claim of the assessee primarily for the reason that interest was received from a Co-operative Bank and not from a Co-operative Society. 4. Aggrieved by the order of the first appellate authority, the assessee has preferred the present appeal before the Tribunal, raising…

Th E Padne Service Co-Op Bank Ltd, Kasargode vs. The ITO, Ward-2, Kasargode

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

Bench: Shri Chandra Pooraji, Am & Shri George George K, Jm

…ying the benefit of deduction u/s 80P(2) of the Act, the assessee preferred appeal to the first appellate authority. The CIT(A), following the judgment of the Hon’ble jurisdictional High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490, allowed the claim of deduction u/s 80P(2) of the income-tax Act. However, with regard to interest received on deposits with Sub Treasury, amounting to Rs.3,30,886, the CIT(A) held the same to be income from other sources and not income from business, thereby denied the benefit of deduction u/s 80P of the income-tax Act for Rs.3,30,866. In taking…

Th E Padne Service Co-Op Bank Ltd, Kasargode vs. The ITO, Ward-2, Kasargode

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

Bench: Shri Chandra Pooraji, Am & Shri George George K, Jm

…ying the benefit of deduction u/s 80P(2) of the Act, the assessee preferred appeal to the first appellate authority. The CIT(A), following the judgment of the Hon’ble jurisdictional High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490, allowed the claim of deduction u/s 80P(2) of the income-tax Act. However, with regard to interest received on deposits with Sub Treasury, amounting to Rs.3,30,886, the CIT(A) held the same to be income from other sources and not income from business, thereby denied the benefit of deduction u/s 80P of the income-tax Act for Rs.3,30,866. In taking…

The WD-1, Kasargode vs. M/S.the Bayar Service Co-Op Bank Ltd, Kasargode

Bench: Shri George George K

…e benefit of section 80P deduction. The CIT(A) had allowed the claim of deduction u/s 80P(2) of the Income-tax Act by following the judgment of the Hon’ble jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Limited & Ors. [(2016) 384 ITR 490 (Ker.)]. Since common issue is raised in these appeals, they are heard together and are being disposed off by this consolidated order. 3. I shall first adjudicate the Revenue’s appeal in the case of M/s.Kakkodi Service Co-operative Bank Limited, concerning assessment years 2007-2008 to 2009-2010 in ITA Nos.525 to 527/Coch/2017. The decision rend…