Co-operative Bank Ltd. v. CIT

384 ITR 490High Court2016#91 most cited

What is Co-operative Bank Ltd. v. CIT authority for?

Co-operative banks are not fundamentally different from co-operative societies, entitling them to claim deductions under Section 80P of the Income Tax Act, 1961, including for interest income treated as business income.

631

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2017 to 2026.

Also referred to as

Co-operative Bank Ltd. v. CIT · Chirakkal Service Co-operative Bank Ltd. · Mavilayi Service Co-operative Bank Ltd. · 384 ITR 490 · Section 80P deduction · co-operative bank · co-operative society · interest income · business income · Section 80A(5) · Section 80P(2)(a)(i)

Sections most often in play

Section 80PSection 142(1)Section 139(1)Section 148Section 143(3)Section 147Section 80A(5)Section 139(4)

Issues it is cited on

section 80a(5)section 80acsection 80asection 139(4)section 80psection 80p(2)(a)section 80p(2)(a)(i)section 80p(2)section 139(1)section 80section 139section 142

Judgments citing Co-operative Bank Ltd. v. CIT

M/S Kodiyathur Service Co-Op Bank, Calicut vs. The ITO, Calicut

ITA 414/COCH/2014[2010-11]Status: DisposedITAT Cochin15 Mar 2017AY 2010-11

Bench: Shri Abraham P. George & Shri George George. K.] आयकर अपील सं./I.T.A. No. 414/Coch/2014 िनधा"रण वष" /Assessment Year : 2010-2011. Vs. M/S. Kodiyathur Service Co- The Income Tax Officer, Operative Bank Ltd, Ward 2(3) Pannikode, P.O. Kozhikode. Kozhikode. [Pan Aaaak 5312L] (अपीलाथ" अपीलाथ" अपीलाथ"/Appellant) अपीलाथ" (ू"यथ" ू"यथ" ू"यथ"/Respondent) ू"यथ"

For Respondent: Shri. A. Dhanaraj, Sr. D.R
Section 139Section 142(1)Section 144Section 36(1)Section 80A(5)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…es. Thereupon assessee’s moved in further appeal before Hon’ble Jurisdictional High Court and Hon’ble Jurisdictional High Court through its judgment dated 15.04.2016 following its own judgment in the case of Chirakkal Service Co-operative Bank Ltd vs. CIT 384 ITR 490 held that the assessee was not hit by sub section (4) of Sec. 80P of the Act, since it was classified as a primary agricultural credit society by the competent authority under the State Law relating to Co-operative Societies. Hon’ble Jurisdictional High Court also held that late filing of return of income was not fatal. What was held by the Hon…

M/S.Puzhathi Service Co-Op Bank Ltd, Kannur vs. ITO, Kannur

ITA 268/COCH/2012[2009-10]Status: DisposedITAT Cochin15 Mar 2017AY 2009-10

Bench: S/Shri Abraham P George, Am & George George K, Jm M/S Puzhathi Service Coop Bank Ltd Vs The Income Tax Officer Near Spinning Mills Wad 1 Po Kakkad Kaniur Kannur Dist 670 005 ( Appellant) (Respondent)

Section 1Section 139Section 139(1)Section 139(4)Section 142Section 142(1)Section 144Section 148Section 260ASection 5

…s in this context, the case was heard on 15th March 2017. 6. We have heard the rival parties and perused the material on record. As regards the belated filing of return, the Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 has decided the issue in favour of the assessee. The Hon’ble High Court had held that the 2 Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act on the mere ground of belated filing of return of income. The Hon’ble High Court was considering the following substantial question of law: “B Whether the Tribunal is ju…

The Cheruthazham Service Co-Op Bank Ltd, Kannur vs. The ITO, Kannur

ITA 132/COCH/2014[2007-08]Status: DisposedITAT Cochin14 Mar 2017AY 2007-08

Bench: S/Shri Abraham P George, Am & George George K, Jm The Cheruthazham Service Coop Vs The Income Tax Officer Bank Ltd Ward 1 Pilathara Kannur Kannur - 670 721 ( Appellant) (Respondent)

Section 260ASection 80PSection 80P(2)Section 80P(4)

…d the issues to the Tribunal. It is in this context, the case was heard on 14th March 2017. 6. We have heard the rival submissions and perused the material on record. The Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 had held that the Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act. The Hon’ble High Court was considering the following substantial question of law: a) Whether on the facts and in the circumstances of the case under consideration, the Tribunal is correct in law in deciding against the assessee, the issue regard…

The Nileshwar Service Co-Op Rural Bank Ltd, Kannur vs. The ITO, Kannur

ITA 720/COCH/2013[2010-11]Status: DisposedITAT Cochin14 Mar 2017AY 2010-11

Bench: Shri Abraham P. George & Shri George George. K.] आयकर अपील सं./I.T.A. Nos.135 & 720/Coch/2013 िनधा"रण वष" /Assessment Years : 2009-10 & 2010-2011. The Nileshwar Service Co- Operative Bank Ltd, The Income Tax Officer, Nileshwar, Vs. Ward -2, Kasaragod 671 314. Kasargod. [Pan Aaaat 3163C] (अपीलाथ" अपीलाथ" अपीलाथ"/Appellant) अपीलाथ" (ू"यथ" ू"यथ" ू"यथ"/Respondent) ू"यथ"

For Appellant: Shri. Mathew Joseph, C.AFor Respondent: Shri. Dhanraj, SR. AR
Section 36(1)(viia)Section 5Section 56Section 80PSection 80P(2)(a)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL : COCHIN [BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE. K. JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos.135 & 720/Coch/2013 िनधा"रण वष" /Assessment years : 2009-10 & 2010-2011. The Nileshwar Service Co- Operative Bank Ltd, The Income Tax Officer, Nileshwar, Vs. Ward -2, Kasaragod 671 314. Kasargod. [PAN AAAAT 3163C] (अपीलाथ" अपीलाथ" अपीलाथ"/Appellant) अपीलाथ" (ू"यथ" ू"यथ" ू"यथ"/Respondent) ू"यथ" अपीलाथ" क" ओर से/ Appellant by : Shri. Mathew Joseph, C.A. ू"यथ" क" ओर से /Respondent by : Shri. Dhanraj, SR. AR. : 13-03-2017 सुनवाई क" तार"ख/Date of Hea…

The Cheruthazham Service Co-Op Bank Ltd, Kannur vs. ITO, Kannur

ITA 145/COCH/2013[2009-10]Status: DisposedITAT Cochin14 Mar 2017AY 2009-10

Bench: S/Shri Abraham P George, Am & George George K, Jm The Cheruthazham Service Coop Vs The Income Tax Oficer Bank Ltd Ward 1 Pilathara Kannur Kannur - 670 721 ( Appellant) (Respondent)

Section 1Section 139Section 139(1)Section 139(4)Section 142Section 142(1)Section 144Section 148Section 260ASection 5

…s in this context, the case was heard on 14th March 2017. 6. We have heard the rival parties and perused the material on record. As regards the belated filing of return, the Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 has decided the issue in favour of the assessee. The Hon’ble High Court had held that the 2 Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act on the mere ground of belated filing of return of income. The Hon’ble High Court was considering the following substantial question of law: “B Whether the Tribunal is ju…

The Nileshwar Service Co-Op Bank Ltd, Kasargode vs. ITO, Kasargode

ITA 135/COCH/2013[2009-10]Status: DisposedITAT Cochin14 Mar 2017AY 2009-10

Bench: Shri Abraham P. George & Shri George George. K.] आयकर अपील सं./I.T.A. Nos.135 & 720/Coch/2013 िनधा"रण वष" /Assessment Years : 2009-10 & 2010-2011. The Nileshwar Service Co- Operative Bank Ltd, The Income Tax Officer, Nileshwar, Vs. Ward -2, Kasaragod 671 314. Kasargod. [Pan Aaaat 3163C] (अपीलाथ" अपीलाथ" अपीलाथ"/Appellant) अपीलाथ" (ू"यथ" ू"यथ" ू"यथ"/Respondent) ू"यथ"

For Appellant: Shri. Mathew Joseph, C.AFor Respondent: Shri. Dhanraj, SR. AR
Section 36(1)(viia)Section 5Section 56Section 80PSection 80P(2)(a)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL : COCHIN [BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE. K. JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos.135 & 720/Coch/2013 िनधा"रण वष" /Assessment years : 2009-10 & 2010-2011. The Nileshwar Service Co- Operative Bank Ltd, The Income Tax Officer, Nileshwar, Vs. Ward -2, Kasaragod 671 314. Kasargod. [PAN AAAAT 3163C] (अपीलाथ" अपीलाथ" अपीलाथ"/Appellant) अपीलाथ" (ू"यथ" ू"यथ" ू"यथ"/Respondent) ू"यथ" अपीलाथ" क" ओर से/ Appellant by : Shri. Mathew Joseph, C.A. ू"यथ" क" ओर से /Respondent by : Shri. Dhanraj, SR. AR. : 13-03-2017 सुनवाई क" तार"ख/Date of Hea…

The Azhikode Service Co-Op Bank Ltd, Kannur vs. ITO, Kannur

ITA 326/COCH/2012[2009-10]Status: DisposedITAT Cochin14 Mar 2017AY 2009-10

Bench: S/Shri Abraham P George, Am & George George K, Jm The Azhikode Service Coop Bank Ltd Vs The Income Tax Officer Azhikode Ward 1 Kannur 670 009 Kannur ( Appellant) (Respondent)

Section 1Section 139Section 139(1)Section 139(4)Section 142Section 142(1)Section 144Section 148Section 260ASection 5

…e time of hearing none appeared on behalf of the assessee. However, we have heard the ld DR and perused the material on record. As regards the belated filing of return, the Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 has decided the issue in favour of the assessee. The Hon’ble High Court had held that the 2 Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act on the mere ground of belated filing of return of income. The Hon’ble High Court was considering the following substantial question of law: “B Whether the Tribunal is ju…

The Mowancherry Co-Op Rural Bank Ltd, Kannur vs. The ITO, Kannur

ITA 597/COCH/2014[2010-11]Status: DisposedITAT Cochin13 Mar 2017AY 2010-11

Bench: S/Shri Abraham P George, Am & George George K, Jm M/S The Mowancherry Coop Rural Vs The Income Tax Officer Bank Ltd Ward 1 Po Mowancherry Kannur Kannur Dist 670 613

Section 260ASection 80PSection 80P(2)Section 80P(4)

…d the issues to the Tribunal. It is in this context, the case was heard on 13th March 2017. 6. We have heard the rival submissions and perused the material on record. The Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 had held that the Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act. The Hon’ble High Court was considering the following substantial question of law: a) Whether on the facts and in the circumstances of the case under consideration, the Tribunal is correct in law in deciding against the assessee, the issue regard…

M/S.Calicut Town Service Co-Op Bank Ltd, Calicut vs. The ITO, Calicut

ITA 528/COCH/2014[2011-12]Status: DisposedITAT Cochin13 Mar 2017AY 2011-12

Bench: S/Shri Abraham P George, Am & George George K, Jm M/S Calicut Town Service Coop Bank Vs The Income Tax Officer Jawahar Building Ward 1(1) K P Kesava Menon Road Kozhikode Kozhikode

Section 260ASection 80PSection 80P(2)Section 80P(4)

…d the issues to the Tribunal. It is in this context, the case was heard on 13th March 2017. 6. We have heard the rival submissions and perused the material on record. The Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 had held that the Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act. The Hon’ble High Court was considering the following substantial question of law: a) Whether on the facts and in the circumstances of the case under consideration, the Tribunal is correct in law in deciding against the assessee, the issue regard…

M/S Cheekilode Service Co-Op Bank, Calicut vs. The ITO, Calicut

ITA 416/COCH/2014[2010-11]Status: DisposedITAT Cochin13 Mar 2017AY 2010-11

Bench: S/Shri Abraham P George, Am & George George K, Jm M/S Cheekilode Service Coop Bank Vs The Income Tax Officer Cheekilode Po Ward 2(3) Kozhikode Kozhikode ( Appellant) (Respondent)

Section 1Section 139Section 139(1)Section 139(4)Section 142Section 142(1)Section 144Section 148Section 260ASection 5

…s in this context, the case was heard on 13th March 2017. 6. We have heard the rival parties and perused the material on record. As regards the belated filing of return, the Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 has decided the issue in favour of the assessee. The Hon’ble High Court had held that the Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act on the mere ground of belated filing of return of income. The Hon’ble High Court was considering the following substantial question of law: “B Whether the Tribunal is justif…

M/S Calicut Town Service Co-Op Bank, Calicut vs. The ITO, Calicut

ITA 415/COCH/2014[2010-11]Status: DisposedITAT Cochin13 Mar 2017AY 2010-11

Bench: S/Shri Abraham P George, Am & George George K, Jm M/S Calicut Town Service Coop Bank Vs The Income Tax Officer Jawahar Building Ward 1(1) K P Kesava Menon Road Kozhikode Kozhikode ( Appellant) (Respondent)

Section 1Section 139Section 139(1)Section 139(4)Section 142Section 142(1)Section 148Section 260ASection 5Section 80A

…s in this context, the case was heard on 13th March 2017. 6. We have heard the rival parties and perused the material on record. As regards the belated filing of return, the Hon’ble High Court in the case of Chirakkal Service Co-op Bank Ltd vs CIT reported in 384 ITR 490 has decided the issue in favour of the assessee. The Hon’ble High Court had held that the Tribunal was not justified in denying the benefit of exemption u/s 80P of the Act on the mere ground of belated filing of return of income. The Hon’ble High Court was considering the following substantial question of law: “B Whether the Tribunal is justif…