Co-operative Bank Ltd. v. CIT

Moospet Service Co-Operative Bank Ltd 682, Thrissur vs. Income Tax Officer Ward 1(1), Thrissur

In the result, the appeal of the assessee stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm Assessment Year: 2018-19 Moospet Service Co-Op. Bank Ltd. .......... Appellant Moospet P.O., Thrissur 680006 [Pan: Aaeam8229N] Vs. The Income Tax Officer, Ward -1(1) .......... Respondent Aayakar Bhavan, Shakthan Thampuran Ngar, Thrissur 680001 Appellant By: ------- None ------- Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 03.02.2025 Date Of Pronouncement: 21.02.2025

…by the decision of the Hon'ble Kerala High Court in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozihilali Sahararana Sangham [2023] 459 ITR 730 (Ker) overruling its earlier decision in the case of Chirakkal Service Co-operative Bank Ltd. v. CIT[2016] 384 ITR 490 (Ker). 7. We have heard the learned Sr. DR and perused the material available on record. The solitary issue that arises for our consideration is whether or not the CIT(A) was correct in law in confirming the action of the AO denying deduction u/s. 80P of the Act as no valid return of income was filed by the assessee. Admittedly, in the present c…

Vengola Service Co Op Bank Ltd, Ernakulam vs. ITO, Ward 2, Aluva

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

Bench: Shri Inturi Rama Rao, Am & Shri Keshav Dubey, Jm Assessment Year: 2018-19 Vengola Service Co-Op. Bank Ltd. .......... Appellant 13/621 Ab, Kunnathunadu Vengola P.O., Ernakulam 683556 [Pan: Aaaav1709N] Vs. The Income Tax Officer .......... Respondent Ward - 2, Aluva Appellant By: Shri Lokanathan R., Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 06.01.2025 Date Of Pronouncement: 28.01.2025

…n though they were filed before the completion of the assessment.(AY.2009-10, 2010-11).” The Hon'ble High Court has also held that the view taken by it vide para 13 of its earlier decision in the case of Chirakkal Service Co- operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) is not a correct view. The relevant observation made by the Hon'ble Jurisdictional High Court is extracted as below: - “It is in the backdrop of the aforesaid discussion that we must consider the findings of a Division Bench of this court in Chirakkal Service Co-operative Bank Ltd. (supra). The findings therein, that appear to suggest that…

Kanichukulangara Service Co Operative Bank Limited, Kanichukulangara vs. ITO, Ward 2, Alappuzha

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

Bench: Shri Inturi Rama Rao, Am & Shri Keshav Dubey, Jm Assessment Year: 2017-18 Kanichukulangara Service Co-Op. Bank Ltd. .......... Appellant Kanichukulangara, Alappuzha 688544 [Pan: Aacak2630D] Vs. The Income Tax Officer .......... Respondent Ward - 5, Alappuzha Appellant By: ------- None ------- Respondent By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 06.01.2025 Date Of Pronouncement: 28.01.2025

…n though they were filed before the completion of the assessment.(AY.2009-10, 2010-11).” The Hon'ble High Court has also held that the view taken by it vide para 13 of its earlier decision in the case of Chirakkal Service Co- operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) is not a correct view. The relevant observation made by the Hon'ble Jurisdictional High Court is extracted as below: - “It is in the backdrop of the aforesaid discussion that we must consider the findings of a Division Bench of this court in Chirakkal Service Co-operative Bank Ltd. (supra). The findings therein, that appear to suggest that…

M/S.the Pattanakkad Service Co-Op Bank Ltd, Cherthala vs. The ITO, Alappuzha

In the result, the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member & Shri Prakash Chand Yadav, Judicial Member ITA No.226/Coch/2020 : Asst.Year 2007-2008 ITA No.227/Coch/2020 : Asst.Year 2009-2010 The Pattanakkad Service Co- The Income Tax Officer operative Bank Limited No.1144 Ward 5 v. Alappuzha. Pattanakkad, Cherthala Alappuzha – 688 531. PAN : AACAT7645K. (Appellant) (Respondent) Appellant by : --- None --- Respondent by : Smt.Leena Lal, Senior AR Date of Pronouncement : 30.12.2024 Date of Hearing : 12.12.2024 O R D E R Per Prakash Chand Yadav, JM : These two appeals rel…

M/S.the Pattanakkad Service Co-Op Bank Ltd, Cherthala vs. The ITO, Alappuzha

In the result, the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member & Shri Prakash Chand Yadav, Judicial Member ITA No.226/Coch/2020 : Asst.Year 2007-2008 ITA No.227/Coch/2020 : Asst.Year 2009-2010 The Pattanakkad Service Co- The Income Tax Officer operative Bank Limited No.1144 Ward 5 v. Alappuzha. Pattanakkad, Cherthala Alappuzha – 688 531. PAN : AACAT7645K. (Appellant) (Respondent) Appellant by : --- None --- Respondent by : Smt.Leena Lal, Senior AR Date of Pronouncement : 30.12.2024 Date of Hearing : 12.12.2024 O R D E R Per Prakash Chand Yadav, JM : These two appeals rel…

West Kallada Service Co-Operative Bank, Kollam vs. ITO, Ward-2, Kollam

In the result, the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

…ns of sec.139. 3. Aggrieved with the order of the AO, the assessee fled appeal before the ld.CIT(A) and claimed deduction of sec.80P relying on the judgment of the Hon’ble Kerala High Court in the case of Chirakkal Service Co-operative Bank Ltd. v. CIT (2016) 384 ITR 490 (Ker.). The ld.CIT(A) relying upon the judgment of the Hon’ble jurisdictional High Court in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham v. CIT reported in 459 ITR 730, dismissed the appeal of the assessee. 4. Aggrieved with the order of the CIT(A), the assessee has come up in appeal before us. The learned Cou…

West Kallada Service Co-Operative Bank, Kollam vs. ITO, Ward-2, Kollam

In the result, the appeals filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

…ns of sec.139. 3. Aggrieved with the order of the AO, the assessee fled appeal before the ld.CIT(A) and claimed deduction of sec.80P relying on the judgment of the Hon’ble Kerala High Court in the case of Chirakkal Service Co-operative Bank Ltd. v. CIT (2016) 384 ITR 490 (Ker.). The ld.CIT(A) relying upon the judgment of the Hon’ble jurisdictional High Court in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham v. CIT reported in 459 ITR 730, dismissed the appeal of the assessee. 4. Aggrieved with the order of the CIT(A), the assessee has come up in appeal before us. The learned Cou…

Kadavathur Service Co-Operativ Bank Ltd, Kadavathur vs. ACIT, Ward-2, Kannur

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

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member & Shri Prakash Chand Yadav, Judicial Member ITA No.213/Coch/2024 : Asst.Year 2015-2016 Kadavathur Service Co-operative The Assistant Commissioner Bank Limited, Kadavathur of Income-tax, Ward – 2 v. Kannur. Talassery, Kannur – 670 676 PAN : AACAK3432B (Appellant) (Respondent) Appellant by :Sri.Arun Raj, Advocate Respondent by :Smt.Leena Lal, Senior AR Date of Pronouncement : 29.11.2024 Date of Hearing : 18.11.2024 O R D E R Per Prakash Chand Yadav, JM : The present appeal of the assessee is arising from the or…

The Koonathara Milk Producers Co-Operative Society Ltd, Ottapalam vs. ITO, Ward-3, Palakkad

In the result, the appeal and the stay application filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm & Sa No. 16/Coch/2024 Assessment Year: 2017-18

…by the decision of the Hon'ble Kerala High Court in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozihilali Sahararana Sangham [2023] 459 ITR 730 (Ker) overruling its earlier decision in the case of Chirakkal Service Co-operative Bank Ltd. v. CIT[2016] 384 ITR 490 (Ker). 7. We have heard the rival contentions of both the parties and perused the material available on record. The solitary issue that arises for our consideration is whether or not the CIT(A) was correct in law in confirming the action of the AO denying deduction u/s. 80P of the Act as no valid return of income was filed by the assessee. Admit…

Pazhayannur Farmers Service Co-Op Bank Ltd, Thrissur vs. The ITO Ward 2(4), Thrissur

In the result, the appeals and the stay applications filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

…in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozihilali Sahararana Sangham [2023] 459 ITR 3 Pazhayannur Farmers Service Co-op. Bank Ltd. 730 (Ker) overruling its earlier decision in the case of Chirakkal Service Co-operative Bank Ltd. v. CIT[2016] 384 ITR 490 (Ker). 8. We have heard the rival contentions of both the parties and perused the material available on record. The solitary issue that arises for our consideration is whether or not the CIT(A) was correct in law in confirming the action of the AO denying deduction u/s. 80P of the Act as no valid return of income was filed by the assessee. Admit…

Pazhayannur Farmers Service Co-Op Bank Ltd, Thrissur vs. The ITO Ward 2(4), Thrissur

In the result, the appeals and the stay applications filed by the assessee are dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

…in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozihilali Sahararana Sangham [2023] 459 ITR 3 Pazhayannur Farmers Service Co-op. Bank Ltd. 730 (Ker) overruling its earlier decision in the case of Chirakkal Service Co-operative Bank Ltd. v. CIT[2016] 384 ITR 490 (Ker). 8. We have heard the rival contentions of both the parties and perused the material available on record. The solitary issue that arises for our consideration is whether or not the CIT(A) was correct in law in confirming the action of the AO denying deduction u/s. 80P of the Act as no valid return of income was filed by the assessee. Admit…

M/S. Punalur Service Co-Operative Bank Ltd., Kollam vs. Income Tax Officer, Ward 2, Kollam

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhalong With Sa.No.178/Coch/2023 – Assessment Year 2018-2019 Punalur Service Co-Operative Bank Limited, Office Building V. The Income Tax Officer Punalur Post Ward 2 Kollam – 691 305. Kollam. Pan : Aagas6534C. (Appellant/Applicant) (Respondent) Appellant/Applicant By : Sri.Santhosh P.Abraham Respondent By : Smt.V.Swarnalatha, Sr.Dr Date Of Hearing : 23.08.2024 Date Of Pronouncement : 07.11. 2024 Order Per Bench : This Assessee’S Appeal Ita.No. 785/Coch/2023 (Along With Its Stay Application Sa.No.178/Coch/2023 Therein) For Assessment 2018-2019 Arise Out Of The Orders Of The Commissioner Of Income-Tax (Appeals)/Nfac Vide Din & Order No.Itba/Nfac/S/250/2023-24/1053606989(1) Dated 08.06.2023 In Proceedings U/S.143(1) Of The Income-Tax Act, 1961. 2

…had not been filed within the “due” date u/s. 139(1) of the Act attracting s. 80AC (as amended from 01.04.2018 onwards). 3. The assessee’s stand all along has been that hon'ble jurisdictional high court in Chirakkal Service Co-operative Bank Ltd. case [2016] 384 ITR 490 (Ker) has settled the issue that even a “belated” return is also entitled to be considered for section 80P deduction. We find that the CIT(A) has already taken note thereof whilst quoting the statutory amendment in section 80AC that such a return has been mandatorily filed within the “due” date u/s.139(1) of the Act. This amendment has admittedly…

The Vattanathra Service Co-Op Society Ltd, Thrissur vs. The ITO Ward 2(1), Thrissur

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…t had filed its return claiming the same “belatedly”. 3. Learned DR strongly relies upon the CIT(A)’s lower appellate discussion seeking to distinguish the hon’ble jurisdictional high court decision in Chirakkal Service Co- operative Bank Ltd. v. CIT [(2016) 384 ITR 490 (Ker.)]. by way of some other judgments wherein 80A(5) was nowhere applicable. 4. Faced with this situation, we are of the considered view that even a belated return, prior to sec.80AC amendment w.e.f. 01.04.2018, is eligible for 80P deduction and therefore, there is no reason for us to uphold ld.CIT(A)’s findings herein. We thus deem it appropr…

The Vattanathra Service Co-Op Society Ltd, Thrissur vs. The ITO Ward 2(1), Thrissur

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…t had filed its return claiming the same “belatedly”. 3. Learned DR strongly relies upon the CIT(A)’s lower appellate discussion seeking to distinguish the hon’ble jurisdictional high court decision in Chirakkal Service Co- operative Bank Ltd. v. CIT [(2016) 384 ITR 490 (Ker.)]. by way of some other judgments wherein 80A(5) was nowhere applicable. 4. Faced with this situation, we are of the considered view that even a belated return, prior to sec.80AC amendment w.e.f. 01.04.2018, is eligible for 80P deduction and therefore, there is no reason for us to uphold ld.CIT(A)’s findings herein. We thus deem it appropr…

M/S.Olavanna Service Co-Operative Bank Ltd., Calicut vs. The Income Tax Officer, Ward 2(3), Kozhicode

In the result, assessee’s appeal is dismissed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2022-2023 M/S.Olavanna Service Co-Operative The Income Tax Officer Bank Limited V. Ward 2(3), Kozhikode. Post Olavanna, Kozhikode Pan : Aaaao3624P. (Appellant) (Respondent) Appellant By : ------ None ------- Respondent By : Smt. V. Swarnalatha, Sr. D.R. Date Of Date Of Hearing : 12.08.2024 Pronouncement : 05.11.2024 O R D E R Per Bench : This Assessee’S Appeal For A.Y. 2022-23 Arises Against The Addl/Jcit (A), Indore [Cit(A)]’S Din & Order No. Itba/Apl/ S/250/2023-24/ 1056972600(1) Dated 11.10.2023 In Proceedings U/S. 250 Of The Income Tax Act, 1961 (The Act).

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member Assessment Year: 2022-2023 M/s.Olavanna Service Co-operative The Income Tax Officer Bank Limited v. Ward 2(3), Kozhikode. Post Olavanna, Kozhikode PAN : AAAAO3624P. (Appellant) (Respondent) Appellant by : ------ None ------- Respondent by : Smt. V. Swarnalatha, Sr. D.R. Date of Date of Hearing : 12.08.2024 Pronouncement : 05.11.2024 O R D E R Per Bench : This assessee’s appeal for A.Y. 2022-23 arises against the Addl/JCIT (A), Indore [CIT(A)]’s DIN & Order No. ITBA/A…