Keshkal Cooperative Marketing Society Ltd. v. Commissioner of Income

165 ITR 437High Court1987#22968 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2023.

Judgments citing Keshkal Cooperative Marketing Society Ltd. v. Commissioner of Income

ACIT, Khandwa vs. M/S Jila Sahakari Kendriya Bank, Khargone

Accordingly Ld. AO made a mathematical working of 20% limit at Rs. 5,54,05,042/-; finally disallowed excess deduction of Rs

ITA 455/IND/2018[14-15]Status: DisposedITAT Indore28 Apr 2023

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2014-15 Acit M/S. Jila Sahakari Khandwa Kendriya Bank, बनाम/ Khandwa Road, Khargone Vs. (Appellant /Revenue) (Respondent / Assessee) Pan: Aaatj 0529 K Revenue By Shri P.K. Mishra, Cit-Dr Assessee By Shri Subhash Jain & Milind Wadhwani, Ars Date Of Hearing 01.02.2023 Date Of Pronouncement 28.04.2023

Section 143(2)Section 143(3)Section 36(1)(viia)Section 36(1)(viii)

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER (Conducted through Virtual Court) Assessment Year: 2014-15 ACIT M/s. Jila Sahakari Khandwa Kendriya Bank, बनाम/ Khandwa Road, Khargone Vs. (Appellant /Revenue) (Respondent / Assessee) PAN: AAATJ 0529 K Revenue by Shri P.K. Mishra, CIT-DR Assessee by Shri Subhash Jain & Milind Wadhwani, ARs Date of Hearing 01.02.2023 Date of Pronouncement 28.04.2023 आदेश / O R D E R Per B.M. Biyani, A.M.: Feeling aggrieved by appeal-order dated 02.0…

M/S Vysya Co-Operative Bank Limited, Tumkur vs. Assistant Commissioner of Income Tax Circle-1, Tumkur

ITA 2392/BANG/2018[2015-16]Status: DisposedITAT Bangalore22 Nov 2021AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year : 2015-16

For Appellant: Shri T. Ravindra, CAFor Respondent: Shri Sankarganesh, Jt.CIT(DR)(ITAT), Bengaluru

Section 37Section 4Section 57Section 57(4)(a)Section 80P(4)

…eceipts before it becomes income in its hands. In this context a reference to two cases reported in CIT v. South Arcot District Co-operative Supply and Marketing Society Ltd.[1981] 127 ITR 467 (Mad) and Keshkal Co-operative Marketing Society Ltd. v. CIT[1987] 165 ITR 437 (MP) is necessary. In the former case, the Madras High Court took the view that the statutory contribution of a portion of its profit to the education fund does not amount to diversion by overriding title and is only an application of income not deductible from total income, whereas, in the latter case, the Madhya Pradesh High Court took the view…

Ajmer Sahkari Upbhokta Wholesale Bhandar Ltd., Ajmer vs. ITO, Ajmer

ITA 989/JPR/2016[2009-10]Status: DisposedITAT Jaipur23 Jan 2017AY 2009-10

For Appellant: Shri G.C. Jain (Adv.)For Respondent: Smt. Poonam Rai (D.CIT)

Section 24Section 48

…fficer disallowed the claim of the assessee for all these four years. On appeal, the assessee has reiterated its contention and also relied upon the decision of Hon’ble MP High in case of Keshkal Cooperative Marketing Society Ltd. vs. Commissioner of Income 165 ITR 437 (MP). The ld. CIT(A) was not imxpressed with the argument of the assessee and confirmed the disallowance made by the AO on the ground that it is an appropriation of profit and not expenditure and therefore, the same is not allowable claim. 5 ITA 989 to 992/JP/16_ Ajmer Sahkari Upbhokta Wholesale Bhandar Ltd. Vs. ITO 5. Before the Tribunal, the…