ITO v. Jankalyan Nagri Sahakari Pat Sanstha Ltd. (54 SOT 60)

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal filed by the Revenue for the assessment year

ITA 390/NAG/2019[2012-13]Status: HeardITAT Nagpur27 Nov 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal

Section 139(1)Section 143(1)Section 143(2)Section 80PSection 80P(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.390/Nag./2019 (Assessment Year : 2012–13) Asstt. Commissioner of Income Tax ……………. Appellant Circle–5, Nagpur v/s The Nirmal Ujwal Credit Co–operative Society Ltd. ……………. Respondent Main Road, Nandanvan, Nagpur 440 009 PAN – AAAAT6554H Assessee by : Shri Manoj G. Moryani Revenue by : Shri Vikash Agrawal Date of Hearing – 07/11/2024 Date of Order – 27/11/2024 O R D E R PER K.M. ROY, A.M. The present appeal has been filed by the Revenue challenging the impugned order…

ASSTT. CIT-27(3), NAVI MUMBAI vs. M/S THE BHARAT PETROLEUM CORPN. , MUMBAI

The appeal of the Revenue is dismissed

ITA 1939/MUM/2020[2013-14]Status: DisposedITAT Mumbai01 Oct 2021AY 2013-14

Bench: Shri Pramod Kumar () & Shri Ravish Sood () Acit-27(3) M/S The Bharat Petroleum Room No. 423, 4Th Floor, Tower Vs. Corporation Limited, No. 6, Vashi Railway Station C/O Bpcl, Refining Division, Complex, Vashi, Mahul, Mumbai – 400 704 Navi Mumbai – 400 703 Pan No. Aaajt0226F (Revenue) (Assessee) Assessee By : Ms. Dinkle Haria, A.R Revenue By : Shri Tharian Oommen, D.R Date Of Hearing : 29/09/2021 Date Of Pronouncement : 01/10/2021 Order Per Ravish Sood, J.M:

For Appellant: Ms. Dinkle Haria, A.RFor Respondent: Shri Tharian Oommen, D.R

Section 143(2)Section 143(3)Section 2Section 5Section 80PSection 80P(2)(a)Section 80P(4)

…not fall for consideration as banking activities as defined in Banking Regulation Act, 1949. In coming to such conclusion, the ld. CIT(A) has relied on the following decisions of the Tribunal:- (i) ITO, Wd 1(4) Pune v/ Jankalyan Nagri Sahakari Patsanstha Ltd 54 SOT 60(Pune)/24 taxmman.com 127(Pune) (2012) (ii) ITO v/s Jain Nagri patsanstha Ltd ITAT Pune Bench (2010) (iii) DCIT v/s Jayalakshmi Mahila Vivivdodeshagala Souharda Sahakari Ltd. 137 ITD 163(Panji) (2012) (iv) Sri Vasavi Multipurpose vs CIT ITAT Bangalore bench order dated 10,05.2015. 5. Accordingly, he directed the A.O. to allow deduction to the assess…

ITO 20(2)(2), MUMBAI vs. MAZGAON DOCK EMPLOYEES CO-OP. CREDIT SOCIETY LTD., MUMBAI

Accordingly, the disallowance of Rs 8,59,560 is deleted. Ground 2 is allowed

ITA 3048/MUM/2016[2012-13]Status: DisposedITAT Mumbai28 Feb 2018AY 2012-13

Bench: Shri G. S. Pannu, Am & Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 3048/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2012-13)

For Appellant: Shri Suman KumarFor Respondent: Shri Anil Sathe

Section 2(24)Section 56Section 80PSection 80P(2)(a)Section 80P(4)

…co-operative banks after insertion of section 80p(4), the list of such decisions are as under. (i) Jayalakshmi Mahila Vividodeshagala Souharda Sahakari Ltd, reported in (2012) 137 lTD 163 (Panji); (ii) Jankalyan Nagri Shakaqri Pat Sanstha Ltd. ,reported in 54 SOT 60 (Pune) (URO); '(iii) The (iii) Kasipalayam Primary Agricultural Co-operative Bank Ltd., reported in 147 lTD 70 (Chennai Trib); (iv) Rama Krishna Credit Co-operative Society Ltd., reported in (2014) 39 CCH 186 Bang Trib; (v) Sagar Credit cooperative Society Ltd., reported in (2014) 40 CCH 036 (Bang Trib) 7. We have heard the rival submissions and…

SHREE DATTA PRASAD SAHAKARI PATSANSTHA LTD,MUMBAI vs. ITO 15(3)(4), MUMBAI

In the result, the Revenue’s appeal is dismissed and assessee’s appeal is allowed

ITA 3783/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Shree Datta Prasad Sahakari Income Tax Officer Patsanstha Ltd. Ward 15(3)(4) Dion Shelter Co Op Hsg Matru Mandir, Grant Rd, Society Ist Floor, Shop No. 108 Mumbai-07 Vs. S.B. Barve Marg, Kurla (E) Mumbai-400 024 Pan No. Aabas6993E Appellant .. Respondent Vs. Income Tax Officer Shree Datta Prasad Sahakari Ward 15(3)(4) Patsanstha Ltd. Matru Mandir, Grant Rd, Dion Shelter Co Op Hsg Society Mumbai-07 Ist Floor, Shop No. 108 S.B. Barve Marg, Kurla (E)S Mumbai-400 024 Pan No. Aabas6993E Appellant .. Respondent .. Mr. M Subramanian, Ar Assessee By Revenue By .. Mr. K. Ravi Kiran, Dr .. Date Of Hearing 16-05-2017 Date Of Pronouncement .. 24-05-2017 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 2(24)Section 4Section 5Section 56Section 80Section 80PSection 80P(2)(a)Section 80P(4)

…t correct while holding that the appellant is a bank or that assessee is engaged in the business of banking in any manner. It has also relied on various case laws in its support viz. judgement of ITAT, Pune in case of Jankalyan Nagri Sahakari Pat Sanstha Ltd. 54 SOT 60, ITAT, Panji in the case of Jayalakshmi Mahila Vividodeshagala Souharda Sahakari Ltd. (2012) 137 ITD 163and ITAT Nagpur Bench in the case of Buldana Urban Co-operative Credit Society Ltd. (2013) 85 DTR (Nag)(Trib) 410. 3.4.5 Facts of the case, the order of the AO and the submissions of the AR together with various judicial precedents relied upon by…

ITO 15(3)(4), MUMBAI vs. SHREE DATTA PRASAD SAHAKARI PATSANSTHA LTD, MUMBAI

In the result, the Revenue’s appeal is dismissed and assessee’s appeal is allowed

ITA 3769/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 May 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Shree Datta Prasad Sahakari Income Tax Officer Patsanstha Ltd. Ward 15(3)(4) Dion Shelter Co Op Hsg Matru Mandir, Grant Rd, Society Ist Floor, Shop No. 108 Mumbai-07 Vs. S.B. Barve Marg, Kurla (E) Mumbai-400 024 Pan No. Aabas6993E Appellant .. Respondent Vs. Income Tax Officer Shree Datta Prasad Sahakari Ward 15(3)(4) Patsanstha Ltd. Matru Mandir, Grant Rd, Dion Shelter Co Op Hsg Society Mumbai-07 Ist Floor, Shop No. 108 S.B. Barve Marg, Kurla (E)S Mumbai-400 024 Pan No. Aabas6993E Appellant .. Respondent .. Mr. M Subramanian, Ar Assessee By Revenue By .. Mr. K. Ravi Kiran, Dr .. Date Of Hearing 16-05-2017 Date Of Pronouncement .. 24-05-2017 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 2(24)Section 4Section 5Section 56Section 80Section 80PSection 80P(2)(a)Section 80P(4)

…t correct while holding that the appellant is a bank or that assessee is engaged in the business of banking in any manner. It has also relied on various case laws in its support viz. judgement of ITAT, Pune in case of Jankalyan Nagri Sahakari Pat Sanstha Ltd. 54 SOT 60, ITAT, Panji in the case of Jayalakshmi Mahila Vividodeshagala Souharda Sahakari Ltd. (2012) 137 ITD 163and ITAT Nagpur Bench in the case of Buldana Urban Co-operative Credit Society Ltd. (2013) 85 DTR (Nag)(Trib) 410. 3.4.5 Facts of the case, the order of the AO and the submissions of the AR together with various judicial precedents relied upon by…

ITO 15(2)(4), MUMBAI vs. SHIVRAJ SAHAKARI PATSANSTHA MARYADIT, MUMBAI

ITA 5268/MUM/2014[2010-11]Status: DisposedITAT Mumbai31 Mar 2017AY 2010-11

Bench: S/Sh.Rajendra & Amarjit Singhिनधा"रण वष" वष" /Assessment Year: 2010-11 आयकर अपील सं./I.T.A./5268/Mum/2014,िनधा"रण िनधा"रण िनधा"रण वष" वष" Income Tax Officer-15(2)(4) M/S. Shivraj Sahakari Patsanstha Maryadit Matru Mandir, Room No.111, Grant S.S. Sanstha Maryadit, Omkar Chs, Bldg. Road(W) Vs. No.32/934, Pant Nagar, Ghatkopar (E) Mumbai-400 007. Mumbai. Pan:Aaajs 2751 A (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Dr. A.K. Nayak-Dr अपीलाथ" क" ओर से /Assessee By: None सुनवाई क" तारीख / Date Of Hearing: 22/03/2017 घोषणा क" तारीख / Date Of Pronouncement: 31.03.2017 लेखा सद"य सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार /Per Rajendra, Am- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Order Dated 16/06/2014 Of The Cit (A)-26, Mumbai, The Assessing Officer (Ao) Has Filed The Present Appeal. Assessee, An Aop, Filed Its Return Of Income On 13/09/2010, Declaring Total Income At Rs. Nil, After Claiming Deduction U/S. 80P Of The Act, Amounting Rs. 44.50 Lakhs. The Ao Completed The Assessment U/S. 143 (3) Of The Act, On 28/03/2013, Determining Its Income At Rs. 44, 50, 811/-

For Appellant: NoneFor Respondent: Dr. A.K. Nayak-DR

Section 143Section 2Section 56Section 80P

…आयकर अपीलीय अपीलीय अिधकरण अिधकरण, मुंबई मुंबई “ई” खंडपीठ खंडपीठ मेमेमेमे आयकर आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण मुंबई मुंबई खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“E”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member िनधा"रण वष" वष" /Assessment Year: 2010-11 आयकर अपील सं./I.T.A./5268/Mum/2014,िनधा"रण िनधा"रण िनधा"रण वष" वष" Income tax Officer-15(2)(4) M/s. Shivraj Sahakari Patsanstha Maryadit Matru Mandir, Room No.111, Grant S.S. Sanstha Maryadit, Omkar CHS, Bldg. Road(W) Vs. No.32/934, Pant Nagar, Ghatkopar (E) Mumbai-…

ITO 15(1)(2), MUMBAI vs. BOMBAY MERCANTILE CO OP BANK LTD, MUMBAI

The appeal of the Revenue is dismissed

ITA 2937/MUM/2014[2010-11]Status: DisposedITAT Mumbai22 Oct 2015AY 2010-11

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year 2009-10 Income Tax Officer-15(1)(2), M/S Bombay Mercantile Co- Room No.116, 1St Op. Bank Ltd. Employees Co- बनाम/ Floor,Matru Mandir Tardeo, Op. Credit Society Ltd. Vs. Grant Road (W), Navratan Bldg., 69, P.D.’ Mumbai-400007 Mello Road, Carnac Bunder, Mumbai-400009 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaajb0706E

Section 143(3)Section 2Section 2(24)Section 80PSection 80P(2)(a)Section 80P(4)Section 8O

…not fall for consideration as banking activities as defined in Banking Regulation Act, 1949. In coming to such conclusion, the ld. CIT(A) has relied on the following decisions of the Tribunal:- (i) ITO, Wd 1(4) Pune v/ Jankalyan Nagri Sahakari Patsanstha Ltd 54 SOT 60(Pune)/24 taxmman.com 127(Pune) (2012) (ii) ITO v/s Jain Nagri patsanstha Ltd ITAT Pune Bench (2010) (iii) DCIT v/s Jayalakshmi Mahila Vivivdodeshagala Souharda Sahakari Ltd. 137 ITD 163(Panji) (2012) Bombay Mercantile Co-op. Bank Ltd. Employees 5 (iv) Sri Vasavi Multipurpose vs CIT ITAT Bangalore bench order dated 10,05.2015. 5. Accordingly, he…

ITO v. Jankalyan Nagri Sahakari Pat Sanstha Ltd.

Judgments citing ITO v. Jankalyan Nagri Sahakari Pat Sanstha Ltd.