Kerala State Cooperative Agricultural and Rural Development Bank Ltd. v. Assessing Officer

The Thrikkovil Vattom Panchayath Service Co-Op Bank Ltd, Kollam vs. ITO, Kollam

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…laim. 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction further arises before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. It goes without saying that the departmental wherein is identical as of “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions dealing with the issue as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank o…

Vilavattam Service Co-Op Bank Ltd No 337, Thrissur vs. ITO Ward 2(3), Thrissur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…er.) (FB) and Mavilayi Service Cooperative Bank Ltd., vs. CIT [2021] 431 ITR 1 (SC). 6. We note in this factual backdrop that hon'ble apex court’s recent landmark decision in Kerala State Cooperative Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) has rejected the Revenue’s very argument reading as under : “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd., it was categorically held that under Section 56 of the BR Act, 1949 only three co-operative banks have been defined, namely, state c…

Vilavattam Service Co-Op Bank Ltd No 337, Thrissur vs. ITO Ward 2(3), Thrissur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…er.) (FB) and Mavilayi Service Cooperative Bank Ltd., vs. CIT [2021] 431 ITR 1 (SC). 6. We note in this factual backdrop that hon'ble apex court’s recent landmark decision in Kerala State Cooperative Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) has rejected the Revenue’s very argument reading as under : “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd., it was categorically held that under Section 56 of the BR Act, 1949 only three co-operative banks have been defined, namely, state c…

M/S Poyiloor Service Co-Op Bank Ltd, Kannur vs. ITO Ward 2, Kannur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2014-15 Poyiloor Service Co-Op.Bank The Income Tax Officer-2, Kannothumchal Ltd., Poyiloor Post, Kannur. Vs. Pin – 670002 Pan Aacap8990R Kannur - 670 006 (Respondent) (Appellant)

…estion of co-operative bank vis-à- vis a co-operative society; for the purpose of the impugned deduction further arises before their lordships in the Kerala State Cooperative 3 Poyiloor Service Co-op. Bank Ltd. Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. It goes without saying that the departmental wherein is identical as of “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions dealing with the issue as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of…

Kannur Town Service Co-Op Bank, Kannur vs. ITO Ward 1, Kannur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhkannur Town Service Co-Op. The Income Tax Officer-1 Bank Ltd. Aayakar Bhavan Vs. Kannur 670002 Kannothumchal [Pan: Aabak8385N] Kannur 670006 (Appellant) (Respondent)

…laim. 4. We further notice that the question of co-operative bank vis-à-vis a co- operative society; for the purpose of the impugned deduction further arises before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. It goes without saying that the departmental wherein is identical as of “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions dealing with the issue as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of…

Kannur District Ex Serviceman Multipurpose Co-Op Society, Kannur vs. The ITO Ward 1 & Tps, Kannur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2016-2017 Kannur District Ex-Servicemen Multipurpose V. The Income Tax Officer Co-Operative Society Limited, Ward 1 & Tps Payangadi Rs Kannur. Kannur 670 303. Pan : Aaaak8922A. (Appellant) (Respondent) Appellant By : Shri George Thomas, C.A. Respondent By : Smt. V. Swarnalatha, Sr. Dr Date Of Date Of Hearing : 13.08.2024 Pronouncement : 05.11.2024 Order Per Bench : This Assessee’S Appeal, Ita.No.432/Coch/2023, For Assessment Year 2016-2017, Arises Out Of The Order Of The Commissioner Of Income-Tax (Appeals) / Nfac Vide Din & Order No.Itba/Nfac/S/250/2022-23/1051675600(1) Dated 30.03.2023, In Proceedings U/S.143(3) Of The Income-Tax Act, 1961; In Short “The Act” Hereinafter.

…laim. 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction further arises before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. It goes without saying that the departmental wherein is identical as of “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions dealing with the issue as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank o…

Cheeranchira Service Co-Operative Bank Limited, Kottayam vs. ITO, Ward 1&Tps, Thiruvalla

In the result, the appeals filed by the appellant are allowed and

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2017-2018

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Assessment Year - 2017-2018 Cheeranchra Service Co-op. The Income Tax Officer Bank Ltd.Cheeranchira P.O. vs. Ward - 1 & TPS Kottayam - 686 106 Thiruvalla PAN : AAAAC2102J (Appellant) (Respondent) Assessee by : Smt. Swathy S. Advocate Revenue by : Smt. V. Swarnalatha, Sr. D.R. Date of Hearing : 19.08.2024 Date of Pronouncement : 23.10.2024 ORDER PER BENCH : This assessee’s appeal for A.Y. 2017-18 arises against the National Faceless Appeal Centre, Delhi [CIT(…

Kalady Kanjoor Rural Co-Operative Bank Ltd, Ernakulam vs. DCIT, Kochi

In the result, the appeals filed by the appellant are allowed and

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2018-19

…ssessee is a cooperative bank than a cooperative society and therefore, not eligible for the impugned deduction. 6. We note that hon’ble apex court’s detailed discussion in Kerala State Cooperative Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) has rejected the 7 Kalady Kanjoor Rural Co-op. Bank Ltd. Revenue’s very stand that for disallowing the impugned claim, the assessee concerned must be proved to be in banking business with general public as per the corresponding provisions in the Banking Regulation Act, 1949 as under : “14. We shall now analyse the aforesaid judgments in a…

The Kareeppa Panchayath Service Co-Operative Bank Ltd.D, Kollam vs. The ITO, Kollam

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year : 2017-18

…see hold any banking licence u/sec.56 of the Banking Regulation Act, 1949. It further emerges hon'ble apex court’s landmark decision in Kerala State Cooperative Agricultural and Rural 3 Kareeppa Panchayat Service Co-op. Bank Ltd. \ Development Bank [2023] 458 ITR 384 (SC) has rejected the Revenue’s very stand as under : “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd., it was categorically held that under Section 56 of the BR Act, 1949 only three co-operative banks have been defined, namely, state co-operativ…

M/S Chirayinkeezhu Service Co-Operative Bank, Chirayinkeezhu vs. ITO, Ward-2(5), Trivandrum

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…(SC). 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Mahara…

The Kadanad Service Co-Operative Bank, Kollappally vs. ITO, National E Assessment Center, Kottayam

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…ce that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and The Kadanad SCB Limited. Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharash…

The Kadanad Service Co-Operative Bank Ltd, Kottayam vs. ITO, National E-Assessment Center, Delhi, Kottayam

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…ce that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and The Kadanad SCB Limited. Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharash…

The Kadanad Service Co-Operative Bank Ltd, Kottayam vs. ITO, Ward-2, Kottayam

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…ce that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and The Kadanad SCB Limited. Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharash…

Clappana Service Co-Operative Bank Altd., Karunagappally vs. ITO, Ward 1&Tps, Alappuzha

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2017-2018 M/S. Clappana Service Co-Operative The Income Tax Officer Bank Limited No.867 V. Ward 1, Alappuzha. Cp/Viii/410 & 411, Clappana Po Karunagappally, Kollam – 690 525 Pan : Aabac2747A. (Appellant) (Respondent) Appellant By : Shri Rajakannan, Advocate Respondent By : Smt. V. Swarnalatha, Sr. D.R. Date Of Pronouncement : 25.09.2024 Date Of Hearing : 12.08.2024 O R D E R Per Bench : This Assessee’S Appeal For A.Y. 2017-18 Arises Against The National Faceless Appeal Centre, Delhi [Cit(A)]’S Din & Order No. Itba/ Nfac/S/250/2023-24/1055921666(1) Dated 11.09.2023, Passed U/S. 250 Of The Income Tax Act, 1961 (The Act).

…(SC). 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharash…

The Thachinganadam Service Co-Operative Bank Limited, Thachinganadam vs. Income Tax Officer Ward 4 Tirur, Tirur

Appeal is allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…rd to indicate that the assessee is carrying-out normal banking business operations with the public at large. Hon’ble apex court’s 5 ITA.No.664/COCH./2023 recent landmark decision in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) further appears to have rejected the Revenue’s very stand as under : “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd., it was categorically held that under Section 56 of the BR Act, 1949 only three co-operative banks have been defined, namel…

Vadakkevila Service Co-Operative Bank Ltd, Kollam vs. The ITO, Kollam

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…SC). 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Co-operative Agricultural and Rural Development Bank (2023) 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under:- “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1 In Apex Co-operative Bank of Urban Bank of Maharashtr…

Mananthavady Co-Op Urban Society Ltd, Wayanad vs. The ITO Ward 2(5), Calicut

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…(SC). 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank (2023) 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant 3 ITA No.433/Coch/2023. Mananthavadi Co-op Urban Society Ltd. statutory provisions deciding the issue in assessee’s favour as under:- “14. We shall now analyse the aforesaid judgments in a common conspec…

M/S Kottayam Service Co-Op Bank Ltd, Kannur vs. ITO Ward 2, Kannur

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…(SC). 5. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - Kottayam SCB Ltd. “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urba…

M/S Kottayam Service Co-Op Bank Ltd, Kannur vs. ITO Ward 2, Kannur

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…(SC). 5. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. We find that their lordships have taken note of all the relevant statutory provisions deciding the issue in assessee’s favour as under: - Kottayam SCB Ltd. “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urba…

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

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member and Shri Amarjit Singh, Accountant Member Thavinjal 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) Appellant by: ------- None ------- Respondent by: Smt. Swarnalatha, Sr. D.R. Date of Hearing: 12.08.2024 Date of Pronouncement: 25.09.2024 O R D E R Per: Satbeer Singh Godara, J.M. : This assessee’s appeal for A.Y. 2010-11 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DI…