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

Assistant Commissioner of Income Tax, Circle- 2(1)(1), Surat vs. Pandesara Green Environment Water Welfare Coop. Society Limited, Surat

In the result, the grounds of appeal raised by the revenue is dismissed

ITA 246/SRT/2023[2020-21]Status: DisposedITAT Surat28 Aug 2023AY 2020-21

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 194A(3)(v)Section 254(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA No. 244, 245 & 246/Srt/2023 (Assessment Years: 2017-18, 2018-19 and 2020-21) (Virtual hearing) A.C.I.T., Pandesara Green Environment Water Circle- 2(1)(1), Welfare Co-operative Society Limited, Vs. Surat. Plot No. 195, G.I.D.C., Opp. Wintex Mills, Pandesara. PAN No. AAAAP 0743 Q Appellant/ assessee Respondent/ revenue Department represented by Shri Vinod Kumar, Sr.DR Assessee represented by Shri Sapnesh Sheth, C.A. Date of Institution of Appeals 13/04/2023 Date of hear…

Assistant Commissioner of Income Tax, Circle- 2(1)(1), Surat vs. Pandesara Green Environment Water Welfare Coop. Society Limited, Surat

In the result, the grounds of appeal raised by the revenue is dismissed

ITA 245/SRT/2023[2018-19]Status: DisposedITAT Surat28 Aug 2023AY 2018-19

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 194A(3)(v)Section 254(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA No. 244, 245 & 246/Srt/2023 (Assessment Years: 2017-18, 2018-19 and 2020-21) (Virtual hearing) A.C.I.T., Pandesara Green Environment Water Circle- 2(1)(1), Welfare Co-operative Society Limited, Vs. Surat. Plot No. 195, G.I.D.C., Opp. Wintex Mills, Pandesara. PAN No. AAAAP 0743 Q Appellant/ assessee Respondent/ revenue Department represented by Shri Vinod Kumar, Sr.DR Assessee represented by Shri Sapnesh Sheth, C.A. Date of Institution of Appeals 13/04/2023 Date of hear…

Assistant Commissioner of Income Tax, Circle- 2(1)(1), Surat vs. Pandesara Green Environment Water Welfare Coop. Society Limited, Surat

In the result, the grounds of appeal raised by the revenue is dismissed

ITA 244/SRT/2023[2017-18]Status: DisposedITAT Surat28 Aug 2023AY 2017-18

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 194A(3)(v)Section 254(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA No. 244, 245 & 246/Srt/2023 (Assessment Years: 2017-18, 2018-19 and 2020-21) (Virtual hearing) A.C.I.T., Pandesara Green Environment Water Circle- 2(1)(1), Welfare Co-operative Society Limited, Vs. Surat. Plot No. 195, G.I.D.C., Opp. Wintex Mills, Pandesara. PAN No. AAAAP 0743 Q Appellant/ assessee Respondent/ revenue Department represented by Shri Vinod Kumar, Sr.DR Assessee represented by Shri Sapnesh Sheth, C.A. Date of Institution of Appeals 13/04/2023 Date of hear…

Dandkaranya Gra, Om Bogar Sheti Shakari Pat Sanstha Ltd, Singli vs. The Income Tax Officer, Ward-2(1), Sangli

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

ITA 427/PUN/2023[2018-19]Status: DisposedITAT Pune11 Jul 2023AY 2018-19

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.427/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Dandkaranya Gramin Bigar Vs. Ito, Ward-2(1), Sangli. Sheti Shakari Pat Sanstha Ltd., Chabukswarwadi, Tal. Miraj, Dist. Sangli- 416401. Pan : Aacad5166H Appellant Respondent Assessee By : None Revenue By : Shri Rajesh Gawali Date Of Hearing : 21.06.2023 Date Of Pronouncement : 11.07.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 16.12.2022 For The Assessment Year 2018-19. 2. Briefly, The Facts Of The Case Are That The Appellant Had Filed Return Of Income For The Assessment Year 2018-19 On 20.12.2018. Against The Said Return Of Income, An Intimation U/S 143(1) Of The Income Tax Act, 1961 (‘The Act’) Was Received By The Appellant.

For Appellant: NoneFor Respondent: Shri Rajesh Gawali
Section 139(1)Section 139(4)Section 142(1)Section 143(1)Section 148Section 5Section 80ASection 80A(5)Section 80P

…and after hearing the ld. Sr. DR. 5. I heard the ld. Sr. DR and perused the material on record. The issue in the present appeal no longer res integra as decided by the Hon’ble Kerala High Court in the case of case of Chirakkal Service Co-op Bank Ltd vs. CIT, 384 ITR 490 (Kerala). The relevant portion of the decision of the Hon’ble High Court is reproduced as under :- “19. Section 80A(5) provides that where the assessee fails to make a claim in his return of income for any deduction, inter alia, under any 3 provision of Chapter VIA under the heading "C.-Deductions in respect of certain incomes”, no deduction shal…

Jaihind Nagari Sahkari Patsanstha Maryadit, Nashik vs. Income Tax Officer, Ward- Malegaon, Nashik

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

ITA 135/PUN/2023[2017-18]Status: DisposedITAT Pune04 Jul 2023AY 2017-18

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.135/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Jaihind Nagari Sahkari Vs. Ito, Ward-1, Malegaon. Patsanstha Maryadit, Main Road, Raunaqabad, Malegaon, Nashik- 423203. Pan : Aaaaj8229M Appellant Respondent Assessee By : Shri Sanket Joshi Revenue By : Shri Rajesh Gawali Date Of Hearing : 20.06.2023 Date Of Pronouncement : 04.07.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 28.11.2022 For The Assessment Year 2017-18. 2. Briefly, The Facts Of The Case Are That Appellant Is A Co- Operative Society Registered Under The Maharashtra Co-Operative Societies Act, 1960. It Is Engaged In The Business Of Providing Credit Facilities To Its Members & Accepting The Deposits From Its Members. The Return Of Income For The Assessment Year 2017-18

For Appellant: Shri Sanket JoshiFor Respondent: Shri Rajesh Gawali
Section 1Section 139Section 139(1)Section 139(4)Section 142Section 143(3)Section 148Section 80A(5)Section 80CSection 80P

…f the Act. 4. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal. 5. The ld. Counsel placing reliance on the decision of the Hon’ble Kerala High Court in the case of Chirakkal Service Co- Operative Bank Ltd. Kannur vs. CIT, 384 ITR 490 (Kerala) submits that a return of income filed by the assessee beyond the period stipulated under the provisions of section 139(1), but filed u/s 139(4), can also be accepted and acted upon in such situations, it cannot be treated as return of income filed at any stage of such proceedings could be treated as non-obstante law or invalid for the pu…

DCIT, Non Corporate Circle-22(1), Chennai vs. M/S Daee Coop T&C Society, Kalpakkam

In the result, appeals filed by the revenue for assessment years 2012-13, 2014-15 & 2017-18 and cross objections filed by the assessee for assessment years 2012-13, 2014-15 &

ITA 594/CHNY/2023[2017-18]Status: DisposedITAT Chennai28 Jun 2023AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 592, 593 & 594/Chny/2023 & Co Nos: 23, 24 & 25/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13, 2014-15 & 2017-18 Deputy Commissioner Of M/S. Dae Employees Coop Thrift Income Tax, V. & Credit Society Ltd, Non Corporate Circle - First Floor, Main Shopping 22(1), Centre, Dae Township, No.7, Ramakrishna Street, Kalpakkam – 603 102. West Tambaram, [Pan: Aaaad-4689-H] Chennai – 45. (अपीलाथ"/Appellant) (Cross Objector) : Shri. Ar V Sreenivasan, Addl. Cit अपीलाथ" क" ओर से/Appellant By Respondent/Cross Objector By : Shri. R. Kumar, Advocate सुनवाई क" तारीख/Date Of Hearing : 26.06.2023 घोषणा क" तारीख/Date Of Pronouncement : 28.06.2023 आदेश /O R D E R

Section 139Section 139(1)Section 139(4)Section 143(3)Section 147Section 148Section 80P(2)(a)

…eduction is claimed by filing return of income within the prescribed time allowed u/s.139(1) or 139(4) of the Act. This view is fortified by the decision of the Hon’ble Kerala High Court in the case of Chirakkal Service Co- operative Bank Ltd., vs. CIT (2016) 384 ITR 490 (Ker), where the Hon’ble Kerala High Court held that “a return filed by the assessee beyond the period stipulated u/s.139(1) or 139(4) or 142(1) or 148 of the Act can also be accepted and acted upon provided further proceedings in relation to such assessments are pending in the statutory hierarchy of adjudication in terms of the provisions of the…

DCIT, Non Corporate Circle-22(1), Chennai vs. M/S Daee Coop T&C Society, Kalpakkam

In the result, appeals filed by the revenue for assessment years 2012-13, 2014-15 & 2017-18 and cross objections filed by the assessee for assessment years 2012-13, 2014-15 &

ITA 593/CHNY/2023[2014-15]Status: DisposedITAT Chennai28 Jun 2023AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 592, 593 & 594/Chny/2023 & Co Nos: 23, 24 & 25/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13, 2014-15 & 2017-18 Deputy Commissioner Of M/S. Dae Employees Coop Thrift Income Tax, V. & Credit Society Ltd, Non Corporate Circle - First Floor, Main Shopping 22(1), Centre, Dae Township, No.7, Ramakrishna Street, Kalpakkam – 603 102. West Tambaram, [Pan: Aaaad-4689-H] Chennai – 45. (अपीलाथ"/Appellant) (Cross Objector) : Shri. Ar V Sreenivasan, Addl. Cit अपीलाथ" क" ओर से/Appellant By Respondent/Cross Objector By : Shri. R. Kumar, Advocate सुनवाई क" तारीख/Date Of Hearing : 26.06.2023 घोषणा क" तारीख/Date Of Pronouncement : 28.06.2023 आदेश /O R D E R

Section 139Section 139(1)Section 139(4)Section 143(3)Section 147Section 148Section 80P(2)(a)

…eduction is claimed by filing return of income within the prescribed time allowed u/s.139(1) or 139(4) of the Act. This view is fortified by the decision of the Hon’ble Kerala High Court in the case of Chirakkal Service Co- operative Bank Ltd., vs. CIT (2016) 384 ITR 490 (Ker), where the Hon’ble Kerala High Court held that “a return filed by the assessee beyond the period stipulated u/s.139(1) or 139(4) or 142(1) or 148 of the Act can also be accepted and acted upon provided further proceedings in relation to such assessments are pending in the statutory hierarchy of adjudication in terms of the provisions of the…

DCIT, Non Corporate Circle-22(1), Chennai vs. M/S Daee Coop T&C Society, Kalpakkam

In the result, appeals filed by the revenue for assessment years 2012-13, 2014-15 & 2017-18 and cross objections filed by the assessee for assessment years 2012-13, 2014-15 &

ITA 592/CHNY/2023[2012-13]Status: DisposedITAT Chennai28 Jun 2023AY 2012-13

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 592, 593 & 594/Chny/2023 & Co Nos: 23, 24 & 25/Chny/2023 िनधा"रण वष" / Assessment Years: 2012-13, 2014-15 & 2017-18 Deputy Commissioner Of M/S. Dae Employees Coop Thrift Income Tax, V. & Credit Society Ltd, Non Corporate Circle - First Floor, Main Shopping 22(1), Centre, Dae Township, No.7, Ramakrishna Street, Kalpakkam – 603 102. West Tambaram, [Pan: Aaaad-4689-H] Chennai – 45. (अपीलाथ"/Appellant) (Cross Objector) : Shri. Ar V Sreenivasan, Addl. Cit अपीलाथ" क" ओर से/Appellant By Respondent/Cross Objector By : Shri. R. Kumar, Advocate सुनवाई क" तारीख/Date Of Hearing : 26.06.2023 घोषणा क" तारीख/Date Of Pronouncement : 28.06.2023 आदेश /O R D E R

Section 139Section 139(1)Section 139(4)Section 143(3)Section 147Section 148Section 80P(2)(a)

…eduction is claimed by filing return of income within the prescribed time allowed u/s.139(1) or 139(4) of the Act. This view is fortified by the decision of the Hon’ble Kerala High Court in the case of Chirakkal Service Co- operative Bank Ltd., vs. CIT (2016) 384 ITR 490 (Ker), where the Hon’ble Kerala High Court held that “a return filed by the assessee beyond the period stipulated u/s.139(1) or 139(4) or 142(1) or 148 of the Act can also be accepted and acted upon provided further proceedings in relation to such assessments are pending in the statutory hierarchy of adjudication in terms of the provisions of the…

Changanacherry Co-Op Agrl & Rural Development Bank Limited, Kottayam vs. ITO Ward 1 &Tps, Kottayam

ITA 938/COCH/2022[2016-17]Status: DisposedITAT Cochin05 Jun 2023AY 2016-17

Bench: SHRI SANJAY ARORA (Accountant Member), SHRI ABY T. VARKEY (Judicial Member)

For Appellant: Shri Abraham K. ThomasFor Respondent: Smt J. M Jamuna Devi, (Sr. AR)
Section 139Section 143(1)Section 143(1)(a)Section 7(1)Section 80PSection 80P(2)

…Hon’ble Supreme Court decision in the case of Malvilayi Services Co-operative Bank Ltd. & Ors Vs. CIT (431 ITR 1) and in the light of the decision of the Hon’ble Jurisdictional High Court in the case of Chirakkal Service Co-operative Bank Ltd. Vs. CIT (2016) (384 ITR 490) while answering the question of law i.e. question no. A “(A) Whether on the facts and in the circumstances of the case under consideration, the Tribunal is correct in law in deciding against 4 A.Y. 2016-17 Changanacherry Co-op the assessee, the issue regarding entitlement for exemption under section 80P, ignoring the fact that the assessee is a…

Shiksha Vibhag Karmchari Sahkari Samiti Limited, Bundi vs. ITO, Bundi

In the result, the appeal of the assessee is allowed

ITA 272/JPR/2022[2019-2020]Status: DisposedITAT Jaipur05 Apr 2023AY 2019-2020

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Podar (Adv.)For Respondent: Shri A.S. Nehra (Addl. CIT)
Section 139(4)Section 143(1)Section 80P

…deduction is claimed by filing return of income within the prescribed time allowed u/s.139(1) or 139(4) of the Act. This view is fortified by the decision of the Hon’ble Kerala High Court in the case of Chirakkal Service Co-operative Bank Ltd., vs. CIT (2016) 384 ITR 490 (Ker), where the Hon’ble Kerala High Court held that “a return filed by the assessee beyond the period stipulated u/s.139(1) or 139(4) or 142(1) or 148 of the Act can also be accepted and acted upon provided further proceedings in relation to such assessments are pending in the statutory hierarchy of adjudication in terms of the provisions of the…

M/S. Nileshwar Rangekallu Chethu Vyavasaya Thozhilali Sahakarana Sangham vs. The Commissioner of Income Tax

ITA/120/2019HC Kerala14 Mar 2023

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.

For Appellant: M/S. NILESHWAR RANGEKALLU CHETHU VYAVASAYA THOZHILALIFor Respondent: THE COMMISSIONER OF INCOME TAX
Section 139(4)Section 148Section 80P

…IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE A.K.JAYASANKARAN NAMBIAR & THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P. TUESDAY, THE 14TH DAY OF MARCH 2023/23RD PHALGUNA, 1944 I.T.A.NO.120 OF 2019 AGAINST THE ORDER DATED 26.9.2017 IN I.T.A.NO.268/COCH/2015 OF I.T.A.TRIBUNAL, COCHIN BENCH, COCHIN APPELLANT/APPELLANT/ASSESSEE: M/S. NILESHWAR RANGEKALLU CHETHU VYAVASAYA THOZHILALI SAHAKARANA SANGHAM PALLIKKARA, NILESHWAR, KASARAGOD DISTRICT-671 314. BY ADV.SRI.S.ARUN RAJ BY ADV.SMT.C.T.SUJA RESPONDENT/RESPONDENT/REVENUE: THE COMMISSIONER OF INCOME TAX AAYA…

Koodaranhi Regional Agricultural Welfare Co-Op Society Ltd, Kozhikkode vs. The ITO, Kozhikkode

In the result, the appeal by the assessee is allowed for statistical purposes and the stay petition is dismissed

ITA 953/COCH/2022[2019-20]Status: DisposedITAT Cochin08 Mar 2023AY 2019-20

Bench: Shri George George K. & Ms. Padmavathy S.

For Appellant: Shri Johnson George, CAFor Respondent: Smt. J M Jamuna Devi, Sr. AR
Section 139(1)Section 139(4)Section 143(1)Section 80Section 80ASection 80PSection 80P(2)Section 80P(2)(a)

…sessee would also not fall within the purview of prima facie adjustment under section 143(1)(a)(ii). 10. We further notice that as per the ratio laid down by the jurisdictional High Court in the case of Chirakkal Service Co- Operative Bank Ltd. v. CIT (2016) 384 ITR 490 (Ker) where it is held that a return filed by assessee beyond period stipulated under section 139(1) or 139(4) or under section 142(1) or section 148 can also be accepted and acted upon for entertaining claim raised under section SP No.77/Coch/2022 & ITA No.953/Coch/2022 Page 8 of 9 80P provided further proceedings in relation to such assessments…

M/S.Mukkam Mega Multipurpose Co-Op Soceity Ltd, Kozhikkode vs. The ITO, Kozhikkode

In the result, the appeal by the assessee is allowed for statistical purposes and the stay petition is dismissed

ITA 952/COCH/2022[2019-20]Status: DisposedITAT Cochin08 Mar 2023AY 2019-20

Bench: Shri George George K. & Ms. Padmavathy S.

For Appellant: Shri Johnson George, CAFor Respondent: Smt. J M Jamuna Devi, Sr. AR
Section 139(1)Section 139(4)Section 143(1)(a)Section 154Section 80Section 80ASection 80PSection 80P(2)

…ssessee would also not fall within the purview of prima facie adjustment under section 143(1)(a)(ii). 10. We further notice that as per the ratio laid down by the jurisdictional High Court in the case of Chirakkal Service Co- Operative Bank Ltd. v. CIT (2016) 384 ITR 490 (Ker) where it is held SP No.76/Coch/2022 & ITA No.952/Coch/2022 Page 8 of 9 that a return filed by assessee beyond period stipulated under section 139(1) or 139(4) or under section 142(1) or section 148 can also be accepted and acted upon for entertaining claim raised under section 80P provided further proceedings in relation to such assessment…

Shri Navavaghniya Seva Sahkari Mandali Limited, Amreli vs. The DCIT/ACIT (CPC), Bangalore, Banagalore

In the result, appeal of the assessee is allowed

ITA 13/RJT/2022[2019-20]Status: DisposedITAT Rajkot03 Mar 2023AY 2019-20

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 139(1)Section 139(4)Section 143Section 143(1)Section 143(1)(a)Section 80P

…the Act. The assessee relied upon the following case laws in support of its claim. (i) Mumbai ITAT in the case of New Ideal Cooperative Housing Society Ltd. VS ITO in ITA No. 2681/Mum/2019 dated 03.02.2021 (ii) Chirakkal Service Cooperative Bank Vs CIT (2016) 384 ITR 490 (Ker), (iii) Citizen Cooperative Society Vs ACIT, Hyderabad (SC) [2018] 252 Taxman 274 (SC) (iv) SBI vs CIT (2016) 389 ITR 0578 (GUJ) I.T.A No. 13/Rjt/2022 A.Y. 2019-20 Page No 3 Shri Navavaghniya Seva Sahkari Mandali Ltd. vs. DCIT/ACIT (CPC) (v) ITAT 'C' Ahmedabad in the case of Uttar Gujarat Cooperative Credit Society Ltd VS ITO (ITA No. 1670…

The Ikkaraiboluvampatti Paccs 33, Coimbatore vs. ITO, Ncw 4(2), Coimbatore

In the result, appeal filed by the assessee is allowed

ITA 461/CHNY/2021[2017-18]Status: DisposedITAT Chennai02 Nov 2022AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.461/Chny/2021 िनधा"रण वष" /Assessment Year: 2017-18 M/S.Ikkaraiboluvampatti Paccs, V. The Income Tax Officer, 33, Rajaji Street, Non-Corporate Ward-4(2), Coimbatore. Coimbatore. [Pan: Aaaai 3699 A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant By Mr.J.Saravanan, Adv. ""यथ" क" ओर से /Respondent By : Mr.P.Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 19.10.2022 घोषणा क" तारीख /Date Of Pronouncement : 02.11.2022

For Respondent: Mr.P.Sajit Kumar, JCIT
Section 56Section 80PSection 80P(2)(a)

…deduction is claimed by filing return of income within the prescribed time allowed u/s.139(1) or 139(4) of the Act. This view is fortified by the decision of the Hon’ble Kerala High Court in the case of Chirakkal Service Co-operative Bank Ltd., vs. CIT (2016) 384 ITR 490 (Ker), where the Hon’ble Kerala High Court held that “a return filed by the assessee beyond the period stipulated u/s.139(1) or 139(4) or 142(1) or 148 of the Act can also be accepted and acted upon provided further proceedings in relation to such assessments are pending in the statutory hierarchy of adjudication in terms of the provisions of the…

M/S. Mararikulam Service Co-Op Bank Ltd, Alappuzha vs. The ITO, WD-2, Alappuzha

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

ITA 168/COCH/2021[2019-20]Status: DisposedITAT Cochin15 Sept 2022AY 2019-20

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2019-20 M/S. Mararikulam Service Co-Operative Bank Ltd. No. 1509, The Income Tax Mararikulam North Officer, P.O., Ward – 2, Cherthala, Alappuzha. Alappuzha – 688 549. Vs. Kerala. Pan: Aacam9305P Appellant Respondent Assessee By : Shri Amaljith P J, Ca : Smt J M Jamuna Devi, Sr. Revenue By Ar Date Of Hearing : 15-09-2022 Date Of Pronouncement : 15-09-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 13/08/2021 Passed By Nfac, Delhi For A.Y. 2019-20 On Following Grounds Of Appeal: Tax Effect Relating To Grounds Of Appeal Each Ground Of Appeal (See Note Below) Intimation Order U/S. 1. 143(1) Is Against The Law Rs.7,36,849/- & Facts Of The Case

For Appellant: Shri Amaljith P J, CA
Section 1Section 139Section 139(1)Section 139(4)Section 143(1)Section 80Section 80ASection 80P

…e order passed by the CPC disallowing the claim of deduction u/s. 80P is not in accordance with the provisions of the Act. The Ld.AR also placed reliance on decision of Hon’ble Kerala High Court in case of Chirakkal Service Co-op Bank Ltd. vs. CIT reported in 384 ITR 490 has held that even if return of income was filed before the appellate authority claiming deduction u/s. 80P(2), the same has to be acted upon. On the contrary, the Ld.DR relied on orders passed by NFAC. We have perused the submissions advanced by both sides in the light of records placed before us. 5. Hon’ble Kerala High Court in case of Chirakka…

Arayoor Service Co-Operative Bank Ltd. 692 vs. Income Tax Officer

The appeal stands disposed of with the

ITA/8/2022HC Kerala24 Aug 2022

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

Section 143(3)Section 147Section 154

…of judicial opinion on a question of law or two conceivable views are possible.” ITA 8/2022 3 3. The Tribunal, while confirming the order of the Commissioner, in the judgment impugned referred to Chirakkal Service Co-operative Bank Ltd v. CIT (2016 384 ITR 490 [Ker.] and recorded a few findings. 4. The Apex Court in Mavilayi Service Co- operative Bank Ltd., has laid down the law on the point. The Tribunal remanded the matter to the Assessing Officer. It is therefore needless to observe that the Assessing officer while redoing the exercise of assessment, refers and relies…

Amasebail Vyvasaya Seva Sahakari Sangha Limited, Udupi vs. Deputy Commissioner of Income Tax, CPC, Bengaluru

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

ITA 537/BANG/2022[2018-19]Status: DisposedITAT Bangalore18 Aug 2022AY 2018-19

Bench: Shri Chandra Poojariassessment Year: 2018-19

For Appellant: Shri Mahesh R. Uppin, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 119Section 139(1)Section 139(4)Section 142(1)Section 143(1)(a)Section 148Section 80ASection 80A(5)Section 80P

…the time of hearing.” 2. The Ld. A.R. submitted that assessee is entitled for deduction u/s 80P of the Act, though assessee has not filed the return of income. In this regard, he relied on the judgement in the case of Chirakkal Co-Operative Bank Ltd. Vs. CIT 384 ITR 490 (Kerala), wherein held as under:- "19. Section 80A(5) provides that where the assessee fails to make a claim in his return of income for any deduction, inter alia, under any provision of Chapter VI-A under the heading "C. — Deductions in respect of certain incomes", no deduction shall be allowed to him thereunder. Therefore, in cases where no ret…

M/S. Shri Mahishasuramardini Urban Co-Operative Credit Society Limited, Haveri vs. Income Tax Officer, Wrd-1, Haveri

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

ITA 566/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Aug 2022AY 2017-18

Bench: Shri Chandra Poojari

For Appellant: Sri.Vishal S Rao, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel
Section 234ASection 234BSection 69ASection 80P(2)(a)

…t year 2018-2019 and the assessment involved in the present is A.Y. 2017-2018. In support of his contention, the learned AR placed reliance 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.)], wherein the Hon’ble Court held as under:- “19. Section 80A(5) provides that where the assessee fails to make a claim in his return of income for any deduction, inter alia, under any provision of Chapter VI-A under the heading "C.—Deductions in respect of certain incomes", no deduction shall be allowed to him thereunder. Therefore, in ca…

The Parakode Service Co-Op Bank Ltd, Adoor vs. The ITO, Kollam

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

ITA 115/COCH/2021[2019-20]Status: DisposedITAT Cochin30 Jun 2022AY 2019-20

Bench: Shri George George K. & Shri Laxmi Prasad Sahuthe Parakode Service Co-Op. The Income Tax Officer Bank Ltd. Ward 4, Aayakar Bhavan Vs. Parakode, Adoor Karbala Junction Pathanamthitta 691554 Kollam 691001 Pan – Aaajt1587B Appellant Respondent

For Appellant: NoneFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 139(1)Section 143(1)Section 143(1)(a)Section 36(1)(va)Section 43BSection 80ASection 80P

…rn of income has been filed beyond the due date as per the amended provisions of Section 80AC(ii) of the Act. She also submitted that the decision of the Hon’ble Jurisdictional High Court in the case of Chirackkal Service Cooperative B ank Ltd. vs. CIT (2016) 384 ITR 490 (Ker) is also not applicable in the present facts of the case because the judgement is related prior to the amendment in Section 80AC(ii) of the Act. She further submitted that in respect of delayed deposit of employees contribution to PF/ESI the assessee has not 4 The Parakode Service Co-Op. Bank Ltd. complied with the provision of Section 36(1)…