Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd. v. ACIT

327 CTR 138High Court2022#8403 most cited

What is Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd. v. ACIT authority for?

Interest income earned by a cooperative society from its investments in other cooperative banks is not eligible for deduction under Section 80P(2)(d) of the Income Tax Act, particularly post the amendment by the Finance Act, 2015.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2023 to 2025.

Also referred to as

Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd v ACIT · 327 CTR 138 · Section 80P(2)(d) · cooperative society · interest income · cooperative banks · deduction · Finance Act 2015

Sections most often in play

Section 80P(2)(d)Section 80P(4)Section 143(3)Section 2(19)Section 142(1)Section 139(1)Section 250Section 56

Issues it is cited on

section 56(i)(ccv)section 80(p)section 80(p)(2)(d)section 80(p)(2)section 3(b)section 2(19)section 194a(3)(v)section 194a(3)section 36(va)section 43b(b)section 80p(1)section 70

Judgments citing Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd. v. ACIT

Shree Datta Nagari Sahakari Pat Sanstha, Sangli vs. ITO Ward-5, Sangli

In the result, both the appeals of the assessee for AY 2018-19 (ITA

ITA 626/PUN/2025[2018-19]Status: DisposedITAT Pune22 Sept 2025AY 2018-19

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Sarang S. GudhateFor Respondent: Shri Ramnath P. Murkunde
Section 139(1)Section 142(1)Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…21) 123 taxmann.com 161 (SC) and placing reliance on the decision of the Hon’ble Karnataka High Court in the case of PCIT vs. Totagar’s Co-operative Sale Society Ltd. (2017) 322 ITR 283 (SC) and Hon’ble Gujrat High Court in the case of Katlary Kariyana (2022) 327 CTR 138 (Guj.) which have been rendered post amendment to section 80P vide Finance Act, 2015 rejected the assessee’s claim of deduction u/s 80P(2)(a)(i)/ 80P(2)(d) of the Act. Further relying on the decision of the Hon’ble Supreme Court in the case of Secunderabad Club Vs. CIT (2023) 457 ITR 263 (SC) wherein the issue of ‘privity of mutuality’ is discuss…

Shree Datta Nagari Sahakari Pat Sanstha, Sangli vs. ITO Ward-5, Sangli

In the result, both the appeals of the assessee for AY 2018-19 (ITA

ITA 625/PUN/2025[2020-21]Status: DisposedITAT Pune22 Sept 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Sarang S. GudhateFor Respondent: Shri Ramnath P. Murkunde
Section 139(1)Section 142(1)Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…21) 123 taxmann.com 161 (SC) and placing reliance on the decision of the Hon’ble Karnataka High Court in the case of PCIT vs. Totagar’s Co-operative Sale Society Ltd. (2017) 322 ITR 283 (SC) and Hon’ble Gujrat High Court in the case of Katlary Kariyana (2022) 327 CTR 138 (Guj.) which have been rendered post amendment to section 80P vide Finance Act, 2015 rejected the assessee’s claim of deduction u/s 80P(2)(a)(i)/ 80P(2)(d) of the Act. Further relying on the decision of the Hon’ble Supreme Court in the case of Secunderabad Club Vs. CIT (2023) 457 ITR 263 (SC) wherein the issue of ‘privity of mutuality’ is discuss…

Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Latur vs. Income Tax Officer- Ward 1 -Latur, Latur

ITA 670/PUN/2025[2018-19]Status: DisposedITAT Pune09 Sept 2025AY 2018-19

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Miss Sailee Gujarathi (Virtual)For Respondent: Shri Ramnath P. Murkunde
Section 142(1)Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.670 & 671/PUN/2025 धििाारण वर्ा / Assessment Years : 2018-19 & 2020-21 Mahatma Gandhi Nagri Sahakari ITO, Ward-1, Latur Pat Sanstha Mydt Udgir, Bidar Road, Near Mahatma Vs. Gandhi Udyan, Udgir, Latur-413517 PAN : AABAM7649H अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Miss Sailee Gujarathi (Virtual) Department by : Shri Ramnath P. Murkunde Date of hearing : 02-07-2025 Date of 09-09-2025 Pronouncement :…

M/S Middle Income Group III Co Op Hsg Society Limited, Mumbai vs. Income Tax Officer, Ward 23(2)(3), Mumbai

In the result, the orders of the lower authorities are reversed and the learned AO is directed to grant deduction to the assessee on interest income earned from cooperative banks u/s 80 P (2) (d) o...

ITA 6363/MUM/2024[2017-18]Status: DisposedITAT Mumbai18 Feb 2025AY 2017-18

Bench: Hon’Ble Shri Sandeep Gosain

Section 143(3)Section 2Section 2(19)Section 250Section 80Section 80P(2)(c)Section 80P(2)(d)Section 8P(2)(d)

…different cooperative banks and earned interest thereon is not eligible for deduction under section 80 P (2) (d) of the act. He also relied upon the decision of Hon'ble Gujarat High Court in case of Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd Vs ACIT (327 CTR 138) in support of his contention. Thus he confirmed the action of the AO. 4. Before the Hon'ble Bench we submit as under: - i. According to the provisions of section 80 P in case of a cooperative society the gross total income if it includes the income referred to in is subsection (2) then same shall be granted as a deduction subject to the condit…

M/S Middle Income Group III Co Op Hsg Society Limited, Mumbai vs. Income Tax Officer, Ward 23(2)(3), Mumbai

In the result, the orders of the lower authorities are reversed and the learned AO is directed to grant deduction to the assessee on interest income earned from cooperative banks u/s 80 P (2) (d) o...

ITA 6362/MUM/2024[2018-19]Status: DisposedITAT Mumbai18 Feb 2025AY 2018-19

Bench: Hon’Ble Shri Sandeep Gosain

Section 143(3)Section 2Section 2(19)Section 250Section 80Section 80P(2)(c)Section 80P(2)(d)Section 8P(2)(d)

…different cooperative banks and earned interest thereon is not eligible for deduction under section 80 P (2) (d) of the act. He also relied upon the decision of Hon'ble Gujarat High Court in case of Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd Vs ACIT (327 CTR 138) in support of his contention. Thus he confirmed the action of the AO. 4. Before the Hon'ble Bench we submit as under: - i. According to the provisions of section 80 P in case of a cooperative society the gross total income if it includes the income referred to in is subsection (2) then same shall be granted as a deduction subject to the condit…

St Sebastian Homes Co-Op Society Ltd, Mumbai vs. Income Tax Officer NFAC/ Ward-23(3)(1), Mumbai

In the result, both the appeals filed by the assessee are allowed in the above terms

ITA 1049/MUM/2024[2018-19]Status: DisposedITAT Mumbai23 Aug 2024AY 2018-19

Bench: Ms. Padmavathy S. & Shri. Raj Kumar Chauhan & The St. Sebastian Homes Co- Vs. Income Tax Officer Operative Society Ltd. Neac/Ward-23(3)(1), Mumbai 3, Sebastian House, 42, Rebello Income Tax Office, Matru Road, Bandra (West), Mumbai – Mandir, Mumbai – 400 007. 400 050. Pan: Aaaat3419K (Appellant) (Respondent)

Section 142(1)Section 143(2)Section 250Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE MS. PADMAVATHY S., ACCOUNTANT MEMBER AND SHRI. RAJ KUMAR CHAUHAN, JUDICIAL MEMBER & The St. Sebastian Homes Co- Vs. Income Tax Officer operative Society Ltd. NEAC/Ward-23(3)(1), Mumbai 3, Sebastian House, 42, Rebello Income Tax Office, Matru Road, Bandra (West), Mumbai – Mandir, Mumbai – 400 007. 400 050. PAN: AAAAT3419K (Appellant) (Respondent) Assessee Represented by : Shri. Bhavesh Jain Department Represented by : Shri. Dr. Kishor Dhule – CIT DR Date of conclusion of Hearing : 12.06.2024 Date of Pronouncement : 23.08.2024 O R D E R PER BENC…

The St. Sebastian Homes Co-Operative Society Ltd, Mumbai Suburban vs. Income Tax Officer Ward-23(3)(4), Mumbai

In the result, both the appeals filed by the assessee are allowed in the

ITA 1048/MUM/2024[2015-16]Status: DisposedITAT Mumbai23 Aug 2024AY 2015-16

Bench: Ms. Padmavathy S. & Shri. Raj Kumar Chauhan

Section 142(1)Section 143(2)Section 250Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE MS. PADMAVATHY S., ACCOUNTANT MEMBER AND SHRI. RAJ KUMAR CHAUHAN, JUDICIAL MEMBER ITA NO. 1048/MUM/2024 (A.Y: 2015-16) & ITA NO. 1049/MUM/2024 (A.Y: 2018-19) The St. Sebastian Homes Co- Vs. Income Tax Officer operative Society Ltd. NEAC/Ward-23(3)(1), Mumbai 3, Sebastian House, 42, Rebello Income Tax Office, Matru Road, Bandra (West), Mumbai Mandir, Mumbai – 400 007. 400 050. PAN: AAAAT3419K (Appellant) (Respondent) Assessee Represented by : Shri. Bhavesh Jain Department Represented by : Shri. Dr. Kishor Dhule CIT DR Date of conclusion of Hearin…

L and T Group of Companies Employees Co-Op Housing Society Limited, Mumbai vs. Ward 24(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed in above terms

ITA 2531/MUM/2024[2013-2014]Status: DisposedITAT Mumbai30 Jul 2024AY 2013-2014

Bench: Shri. Narendra Kumar Billaiya**

Section 139(1)Section 250Section 80P(2)(d)

…ssessee should be allowed to claim deduction of interest amount u/s. 80P(2)(d) of the Act. ![](_page_4_Picture_0.jpeg) - 7. The Ld. DR on the other hand submitted that the Hon'ble Gujarat High Court in the case of Katlary Kariyana Merchant Sahkari Vs. (ACIT 327 CTR 138) has held that the assessee is not entitled for deduction under section 80P(2)(d) towards the interest income received from deposit with Co-operative Bank. The Ld. DR therefore, submitted that the lower authorities have correctly denied the benefit of deduction to the assessee. - 8. We have considered the submissions made by the parties and perus…

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. Assistant Commissioner of Income Tax Circle 22(3), Mumbai

In the result, the appeals for AY 2017-18, 2018-19 & 2020-21 of the assessee are allowed

ITA 544/MUM/2024[2017-2018]Status: DisposedITAT Mumbai21 Jun 2024AY 2017-2018

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Ashish A. Thakurdesai, CAFor Respondent: Shri Dr. Kishor Dhule, CIT-DR &
Section 80PSection 80P(2)(d)

…23. Accordingly the ld AR prayed that the disallowance made towards deduction claimed under section 80P(2)(d) be deleted. 5. The ld. DR on the other hand submitted that the Hon'ble Gujarat High Court in the case of Katlary Kariyana Merchant Sahkari Vs. (ACIT 327 CTR 138) has held that the assessee is not entitled for deduction under section 80P(2)(d) towards the interest income received from deposit with Co-operative Bank. The ld. DR therefore, submitted that the lower authorities have correctly denied the benefit of deduction to the assessee. 6. We have heard the parties and perused the material available on r…

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. National E-Assessment Centre, New Delhi

In the result, the appeals for AY 2017-18, 2018-19 & 2020-21 of the assessee are allowed

ITA 542/MUM/2024[2020-2021]Status: DisposedITAT Mumbai21 Jun 2024AY 2020-2021

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Ashish A. Thakurdesai, CAFor Respondent: Shri Dr. Kishor Dhule, CIT-DR &
Section 80PSection 80P(2)(d)

…23. Accordingly the ld AR prayed that the disallowance made towards deduction claimed under section 80P(2)(d) be deleted. 5. The ld. DR on the other hand submitted that the Hon'ble Gujarat High Court in the case of Katlary Kariyana Merchant Sahkari Vs. (ACIT 327 CTR 138) has held that the assessee is not entitled for deduction under section 80P(2)(d) towards the interest income received from deposit with Co-operative Bank. The ld. DR therefore, submitted that the lower authorities have correctly denied the benefit of deduction to the assessee. 6. We have heard the parties and perused the material available on r…

DCIT, Jaipur vs. Rajasthan Cooperative Dairy Federation Ltd, Jaipur

In the result the appeal of the revenue in ITA No

ITA 350/JPR/2022[2018-19]Status: DisposedITAT Jaipur27 Apr 2023AY 2018-19

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

For Appellant: Shri P. C. Parwal (C.A.)For Respondent: Shri Ajay Malik (CIT) fu/kZkfjrh dh vksj ls@
Section 143(2)Section 2(24)(x)Section 36(1)(va)

…laim of deduction under Sec. 80P(2)(d).” 7. It is submitted that by following the decision of Hon’ble Karnataka High Court reported in 395 ITR 611, the Hon’ble Gujarat High Court in case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. Vs. ACIT (2022) 327 CTR 138has at para 13 after extracting para 16 & 17 of the decision of Gujarat High Court in case of State Bank of India Vs. CIT 389 ITR 578 and at para 14 referring to the amendment made in section 194A(3)(v) of the Act held that deduction of income derived by way of interest from the investment in the form of FDRs with other bank is not correct. In thi…

DCIT, Jaipur vs. Rajasthan Cooperative Dairy Federation Ltd, Jaipur

In the result the appeal of the revenue in ITA No

ITA 349/JPR/2022[2016-17]Status: DisposedITAT Jaipur27 Apr 2023AY 2016-17

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

For Appellant: Shri P. C. Parwal (C.A.)For Respondent: Shri Ajay Malik (CIT) fu/kZkfjrh dh vksj ls@
Section 143(2)Section 2(24)(x)Section 36(1)(va)

…laim of deduction under Sec. 80P(2)(d).” 7. It is submitted that by following the decision of Hon’ble Karnataka High Court reported in 395 ITR 611, the Hon’ble Gujarat High Court in case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. Vs. ACIT (2022) 327 CTR 138has at para 13 after extracting para 16 & 17 of the decision of Gujarat High Court in case of State Bank of India Vs. CIT 389 ITR 578 and at para 14 referring to the amendment made in section 194A(3)(v) of the Act held that deduction of income derived by way of interest from the investment in the form of FDRs with other bank is not correct. In thi…

DCIT, Jaipur vs. Rajasthan Cooperative Dairy Federation Ltd, Jaipur

In the result the appeal of the revenue in ITA No

ITA 200/JPR/2022[2017-18]Status: DisposedITAT Jaipur27 Apr 2023AY 2017-18

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

For Appellant: Shri P. C. Parwal (C.A.)For Respondent: Shri Ajay Malik (CIT) fu/kZkfjrh dh vksj ls@
Section 143(2)Section 2(24)(x)Section 36(1)(va)

…laim of deduction under Sec. 80P(2)(d).” 7. It is submitted that by following the decision of Hon’ble Karnataka High Court reported in 395 ITR 611, the Hon’ble Gujarat High Court in case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. Vs. ACIT (2022) 327 CTR 138has at para 13 after extracting para 16 & 17 of the decision of Gujarat High Court in case of State Bank of India Vs. CIT 389 ITR 578 and at para 14 referring to the amendment made in section 194A(3)(v) of the Act held that deduction of income derived by way of interest from the investment in the form of FDRs with other bank is not correct. In thi…

Katlary Kariyana Merchant Sahkari Sarfi Mandali Ltd. v. ACIT (327 CTR 138) — Cited in 13 Judgments | BharatTax