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.Avanakuzhy Service Co-Op Society, Trivandrum vs. The ITO, WD-2(2), Trivandrum

ITA 330/COCH/2023[2018-19]Status: DisposedITAT Cochin25 Sept 2024AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Pathmanathan K V, AdvocateFor Respondent: Smt. V. Swarnalatha, Sr. DR
Section 143(3)Section 80ASection 80A(5)Section 80LSection 80P

…duction claim(s) deserves to be rejected on the threshold itself. 4. We find no merit in the Revenue’s instant technical arguments. We make it clear first of all that hon’ble jurisdictional high court in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) has considered the ambit and scope of sec.80A(5) of the Act to conclude that even a belated return; atleast filed during the course of assessment could not be rejected for the purpose declining sec.80P deduction claim. 5. So far as the Revenue’s latter objection seeking to invoke sec.80AC of the Act is concerned, the same is admittedly app…

Tavinjal Service Co-Op Bank Ltd, Wayanad vs. The ITO Ward 1, Wayanad

Appeal of the assessee is allowed for statistical purposes in above terms

ITA 321/COCH/2023[2010-11]Status: DisposedITAT Cochin25 Sept 2024AY 2010-11

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhthavinjal Service Co-Op. Bank Ltd. The Income Tax Officer Thalapuzha P.O. Ward - 1(4), Kalpetyta Vs Wayanad 670664 Wayanad 673122 [Pan: Aadat2035N] (Appellant) (Respondent)

For Appellant: ------- None -------For Respondent: Smt. Swarnalatha, Sr. D.R
Section 139(1)Section 144Section 2Section 22Section 56Section 80ASection 80A(5)Section 80PSection 80P(4)Section 80P(5)

…ipulates to this effect came u/s.80AC w.e.f. 01.04.2018 and afterwards. So far as the Revenue’s claim that section 80P(5) bars section 80P deduction in a belated return is concerned, we note that case law Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) has settled the issued in assessee’s favour and against the department that even such a belated return is entitled to section 80P deduction. The Revenue’s instant first and foremost argument stands rejected. 4. Learned Sr. AR next vehemently submits that both the lower authorities have rightly held the assessee as a co-operative bank only…

Income Tax Officer, Income Tax Mumbai vs. State Bank of India Employees M.S. Patel Co-Op Credit Society Ltd, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 3995/MUM/2023[2016-17]Status: DisposedITAT Mumbai23 Sept 2024AY 2016-17

Bench: Shri Amarjit Singh & Shri Rahul Chaudhary

For Appellant: Shri Hemant ShahFor Respondent: Smt. Smiti Samant, CIT, DR
Section 194ASection 194A(3)(V)Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 8O

…round for Mavilayi (SC), we may examine how the dispute reached the Supreme Court. To begin with a Division Bench of the Kerala High Court has answered the above issue in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 68 taxmann.com 298/239 Тахтап 417/384 ITR 490 (Ker.). It has held that once a Co-operative Society is classified by the Registrar of Co-operative Societies under the Kerala Act as being a primary agricultural credit society, the authorities under the IT Act cannot go behind the certificate so granted That is, the certified credit society can claim the benefit under section 80P(2)(a) (i) of t…

Vallapuzha Service Co-Operative Bank, Cherupulassery vs. ITO, Ward-3, Palakkad

ITA 876/COCH/2023[2015-16]Status: DisposedITAT Cochin12 Sept 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri V.P. Narayanan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 250Section 80PSection 80P(2)(a)Section 80P(4)

…der or in the CITA’s detailed discussion that the assessee has indeed derived its income representing interest from members only. We thus quote Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Chirakkal Service Co-op. Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) to conclude that both the lower authorities have erred in law and in facts in disallowing assessee’s claim of s. 80P deduction representing interest income from its members only. The assessee succeeds on this sole issue. 4 ITA Nos.874-876 & SA Nos.218-220/Coch/2023 Vallapuzha SCB Limited. 4. Same order follows in assessee’s next twin appea…

Vallapuzha Service Co-Operative Bank, Cherupulassery vs. ITO, Ward-3, Palakkad

ITA 875/COCH/2023[2014-2015]Status: DisposedITAT Cochin12 Sept 2024AY 2014-2015

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri V.P. Narayanan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 250Section 80PSection 80P(2)(a)Section 80P(4)

…der or in the CITA’s detailed discussion that the assessee has indeed derived its income representing interest from members only. We thus quote Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Chirakkal Service Co-op. Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) to conclude that both the lower authorities have erred in law and in facts in disallowing assessee’s claim of s. 80P deduction representing interest income from its members only. The assessee succeeds on this sole issue. 4 ITA Nos.874-876 & SA Nos.218-220/Coch/2023 Vallapuzha SCB Limited. 4. Same order follows in assessee’s next twin appea…

Vallapuzha Service Co-Operative Bank, Palakkad vs. ITO, Ward-3, Palakkad

ITA 874/COCH/2023[2014-2015]Status: DisposedITAT Cochin12 Sept 2024AY 2014-2015

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri V.P. Narayanan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 250Section 80PSection 80P(2)(a)Section 80P(4)

…der or in the CITA’s detailed discussion that the assessee has indeed derived its income representing interest from members only. We thus quote Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Chirakkal Service Co-op. Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) to conclude that both the lower authorities have erred in law and in facts in disallowing assessee’s claim of s. 80P deduction representing interest income from its members only. The assessee succeeds on this sole issue. 4 ITA Nos.874-876 & SA Nos.218-220/Coch/2023 Vallapuzha SCB Limited. 4. Same order follows in assessee’s next twin appea…

Astt. Commisioner of Income Tax, Lucknow vs. M/S Apco Infratech Pvt. Ltd., Lucknow

In the result, appeal of the Revenue and Cross Objection of the assessee are dismissed, as indicated above

ITA 66/LKW/2017[2014-15]Status: DisposedITAT Lucknow05 Sept 2024AY 2014-15

Bench: Shri G. D. Padamahshali & Shri Subhash Malguriaassessment Year: 2014-15 The Asstt. Commissioner V. M/S Apco Infratech Pvt. Ltd Of Income Tax B-9, Vibhuti Khand Central Circle Ii Gomti Nagar Lucnow Lucknow Pan:Aadca5639H (Appellant) (Respondent) C.O. No.19/Lkw/2017 [In Ita No.66/Lkw/2017] Assessment Year: 2014-15 M/S Apco Infratech Pvt. Ltd V. The Asstt. Commissioner Of B-9, Vibhuti Khand Income Tax Gomti Nagar Central Circle Ii Lucknow Lucnow Pan:Aadca5639H (Cross Objector) (Respondent)

For Appellant: Shri Jitendra Kumar Yadav, AdvocateFor Respondent: Shri Neil Jain, CIT (DR)
Section 143(3)Section 194Section 80Section 80I

…e his impugned order, dated 10.11.2016, allowed the claim of the assessee for deduction under section 80IA of the Act, relying on various judicial precedents. 12. The Hon'ble Kerala High Court in the case of Chirakkal Services Co-operative Bank vs CIT, (2016) 384 ITR 490 (Ker), with regard to denial of exemption on ground referable to belated filing of return, has held as under: “18.Questions B and C relate to denial of exemption on ground referable to belated filing of return, that is to say, returns filed beyond the period stipulated under section 139(1) or section 139 (4), as the case may be, as well as secti…

M/S Champakara Scb Ltd, Kottayam vs. ITO Ward, Kottayam

Appeal is allowed for statistical purposes in above terms

ITA 121/COCH/2023[2018-19]Status: DisposedITAT Cochin12 Aug 2024AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2018-2019

For Appellant: -------- None -------For Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 139(1)Section 250Section 80ASection 80A(5)Section 80P

…a relief. He could hardly rebut the clinching fact that the assessee has filed a “belated” return claiming the impugned deduction. Be that as it may, the hon'ble jurisdictional high court’s landmark decision in Chirackal Service Co-op. Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) has already settled the issue in favour of the assessee and against the department that even a belated return claiming section 80P deduction negates applicability of section 80A(5) of the Act. We thus reject the Revenue’s instant technical objection seeking application of section 80A(5) in very terms leave it for the Assessing Officer to ve…

The Erode City Municipal Corporation Emp Co-Op T& C Limited, Chennai vs. ITO, Ward 1 (1), Erode

In the result, the appeal in ITA No

ITA 510/CHNY/2024[2020-21]Status: DisposedITAT Chennai22 Jul 2024AY 2020-21

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.509 & 510/Chny/2024 (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021)

For Appellant: Ms. G. Vardini Karthik, AdvocateFor Respondent: Shri ARV Srinivasan, IRS, Addl. CIT
Section 119(2)(b)Section 139(1)Section 139(4)Section 143(1)Section 143(2)Section 2(6)Section 80ASection 80PSection 80P(2)(a)

…visions of section 80AC, as amended w.e.f. 1/4/2018 to deny claim of deduction u/s 80P of Rs. 87,07,378/- The appellant has relied upon various decisions like the decision of the Hon'ble Kerala High Court in the case of Chirrakal Service Cooperative Bank Ltd. 384 ITR 490 (Ker.) In this regard, it is relevant to refer to the decision of the Hon'ble Supreme Court in the case of Wipro Limited - [2022] 140 taxmann.com 223 (SC). Relevant portion of the order is reproduced below: "The exemption provisions are to be complied with strictly and literally and the same cannot be construed as procedural requirement. Filing a…

The Erode City Municipal Corporation Emp Co-Op T& C Limited, Erode vs. ITO, Ward 1(1), Erode

In the result, the appeal in ITA No

ITA 509/CHNY/2024[2018-19]Status: DisposedITAT Chennai22 Jul 2024AY 2018-19

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.509 & 510/Chny/2024 (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021)

For Appellant: Ms. G. Vardini Karthik, AdvocateFor Respondent: Shri ARV Srinivasan, IRS, Addl. CIT
Section 119(2)(b)Section 139(1)Section 139(4)Section 143(1)Section 143(2)Section 2(6)Section 80ASection 80PSection 80P(2)(a)

…visions of section 80AC, as amended w.e.f. 1/4/2018 to deny claim of deduction u/s 80P of Rs. 87,07,378/- The appellant has relied upon various decisions like the decision of the Hon'ble Kerala High Court in the case of Chirrakal Service Cooperative Bank Ltd. 384 ITR 490 (Ker.) In this regard, it is relevant to refer to the decision of the Hon'ble Supreme Court in the case of Wipro Limited - [2022] 140 taxmann.com 223 (SC). Relevant portion of the order is reproduced below: "The exemption provisions are to be complied with strictly and literally and the same cannot be construed as procedural requirement. Filing a…

Solapur Dist M S K Samiti H Master T and N T Path Mydt Pandharpur, Pandharpur vs. ITO, Ward 2, Pandharpur

In the result appeal of the assessee is dismissed

ITA 804/PUN/2023[2017-18]Status: DisposedITAT Pune08 Mar 2024AY 2017-18

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.804/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Solapur Dist M S K Samiti H The Income Tax Officer, Master T & N T Path V Ward-2, Pandharapur. Mydtpandharpur, S 3980, Station Road, Pandharpur. Maharashtra – 413304. Pan: Aanas9890E Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri Sourabh Nayak – Addl.Cit(Dr) Date Of Hearing 15/02/2024 Date Of Pronouncement 08/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 Dated 11.05.2023 Emanating From Assessment Order Dated 30.07.2019Passed Under Section 144 R.W.S 144A Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Assessee Was In Presumption That Co Operative Societies Income Is Exempt Under 80P Generally Maximum Co Solapur Dist M S K Samiti H Master T & N T Path Mydt Pandharpur [A]

Section 139(1)Section 144Section 250Section 80Section 80ASection 80PSection 8OSection 8Q

…er alia of the deduction permissible under Section 80P for reason of it being allowed to Co-operative Societies. We also notice a Division Bench decision of this Court in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 68 taxmann.com 298/239 Taxman 417/384 ITR 490 (Ker.), which relied on the aforesaid provision to decline exemption insofar as a similar situation in which no return was filed. In such circumstance, the failure to file a return under Section 139; even when a notice was issued under Section 142(1), is not a technical defect. We also do not think that the decision in Yokogawa India Ltd. applies…

The Vijayawada Electricity Employees Co Operative Credit Society Limited, Vijayawada vs. Income Tax Office Ward 2(1), Vijayawada

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

ITA 273/VIZ/2023[2017-18]Status: DisposedITAT Visakhapatnam22 Dec 2023AY 2017-18

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.273/Viz/2023 (ननधधारण वर्ा / Assessment Year : 2017-18) The Vijayawada Electricity Employees Vs. Income Tax Officer Co-Operative Credit Society Ltd. Ward-2 (1) Office Of The Assistant Engineer Vijayawada Operation, Kg Market Section Beside Vmc Building Apcpdcl, Vijayawada [Pan : Aaeat3589Q] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri P.Srinivasa Prasad, ARFor Respondent: Shri Madhkar Aves, Sr.AR
Section 139(11)Section 142Section 142(1)Section 142(2)Section 144Section 69ASection 80P

…ted information from the members as they are all employees of Electricity Board identifiable. With regard to exemption claimed u/s 80P, the Ld.AR relied on the decision of Hon’ble Kerala High Court in the case of Chirakkal Service Cooperative Bank Ltd. (2016) 384 ITR 490 (Ker) wherein it was held that “in cases where returns have been filed, the question of exemptions or deductions referable to section 80P would definitely have to be considered and 5 I.T.A. No.273/Viz/2023, A.Y. 2017-18 The Vijayawada Electricity Employees Co-operative Credit Society Ltd., Vijayawada granted if eligible. The Ld.AR submitted that…

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

In the result, the assessee’s appeal is allowed

ITA 361/COCH/2012[2009-10]Status: DisposedITAT Cochin12 Dec 2023AY 2009-10

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmiramanthali Service Co-Op. Bank Ltd. The Income Tax Officer - 4 Ramanthali Aayakr Bhavan, Vs. Payyanur 670364 Kannthumchal [Pan:Aaajr0310C] Kannur - 670364 (Appellant) (Respondent)

For Appellant: Shri Arun Raj S., AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 144Section 254(2)Section 80P

…99/2015). The Tribunal passed a fresh order on 14.03.2017, partly allowing the assessee’s appeal, against which the Revenue filed a Miscellaneous Application (No. 242/Coch/2021), in view of the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT[2016] 384 ITR 490 (Ker), which was accepted by the Tribunal vide it’s order u/s. 254(2) of the Act dated 16.09.2022, recalling it’s order dated 14/3/2017 Ramanthali Service Co-op. Bank Ltd. v. ITO for adjudication afresh qua the deduction u/s. 80P of the Act. At the time of hearing, it was explained by Shri Raj, the learned counsel for the assessee, that the asses…

The ITO, WD-2(2), RG-2, Trivandrum vs. M/S.Nagaroor Service Co-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

ITA 77/COCH/2019[2015-16]Status: DisposedITAT Cochin31 Aug 2023AY 2015-16

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…

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

In the result, the appeals are disposed on the afore-stated terms

ITA 48/COCH/2019[2015-16]Status: DisposedITAT Cochin31 Aug 2023AY 2015-16

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…

The ITO, Ward-2(3), Trivandrum vs. M/S.Mundela Serviceco-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

ITA 143/COCH/2019[2011-12]Status: DisposedITAT Cochin31 Aug 2023AY 2011-12

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…

The ITO, WD-4, Kollam vs. M/S. the Adichanalloor Farmers Service Co-Op Bank Ltd, Kollam

In the result, the appeals are disposed on the afore-stated terms

ITA 134/COCH/2019[2015-16]Status: DisposedITAT Cochin31 Aug 2023AY 2015-16

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…

The ITO, WD-2(5), Trivandrum vs. Pazhayakunnumel Service Co-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

ITA 121/COCH/2019[2015-16]Status: DisposedITAT Cochin31 Aug 2023AY 2015-16

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…

M/S.Pidavoor Service Co-Op Bank Ltd, Kollam vs. The ITO, WD-4, Kollam

In the result, the appeals are disposed on the afore-stated terms

ITA 414/COCH/2018[2014-15]Status: DisposedITAT Cochin31 Aug 2023AY 2014-15

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…

The ITO, Ward-2(3), Trivandrum vs. M/S.Mundela Serviceco-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

ITA 151/COCH/2018[2014-15]Status: DisposedITAT Cochin31 Aug 2023AY 2014-15

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Respondent: Shri Sajith Kumar Das, CI
Section 80P(1)Section 80P(4)

…s raising a common issue, were heard together, and are being disposed of per a common order for the sake of convenience. 2. The instant appeals, initially decided by the Tribunal following the decision in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker), were restored by it per a common order dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coc…