M/s. The Totgars’Cooperaative Sale Society Limited v. Income Tax Officer (322 ITR 383)

Q: What is M/s. The Totgars’Cooperaative Sale Society Limited v. Income Tax Officer authority for?

Interest income earned by a cooperative society from deposits with scheduled banks, bonds, and other securities is considered 'Other Income' and is taxable.

Q: How many judgments cite M/s. The Totgars’Cooperaative Sale Society Limited v. Income Tax Officer?

15 judgments on BharatTax cite M/s. The Totgars’Cooperaative Sale Society Limited v. Income Tax Officer (322 ITR 383), spanning 2016 to 2025.

The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd, Satara vs. ACIT, Satara, Cir-Satara

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

ITA 2156/PUN/2025[2020-21]Status: DisposedITAT Pune28 Nov 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.2155 & 2156/Pun/2025 निर्धारण वर्ष / Assessment Year : 2020-21 The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd., Ajinkya Complex, 512, Ch. Shivaji Road, Camp, Sadar Bazar, Satara-415001 Asst. Commissioner Of Income Tax, Satara Circle, Vs. Satara Pan: Aaaat1502B अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Ms. Renuka Arunrao Ghatge Shri S. Sadananda Singh 11-11-2025 28-11-2025 आदेश / Order Per Astha Chandra, Jm : The Above Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Both Dated 15.07.2025 Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi [“Cit(A)”/“Nfac"] Pertaining To Assessment Year (“Ay") 2020-21. For The Sake Of Convenience, Both These Appeals Were Heard Together & Are Being Disposed Of By This Common Order.

For Appellant: Department byFor Respondent: Date of hearing

Section 139(1)Section 143(2)Section 144Section 41(1)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(b)Section 80P(2)(d)

…come by way of interest or dividends derived by the co-operative society from its investments with any other co-operative society. To become eligible for deduction, the investment has to be made in another Co-operative Society. The Hon'ble SC in Totgar's case 322 ITR 383 has held that the assessee would not be eligible for deduction under Section 80P(2)(d) in relation to interest income earned from Co-operative banks. It is common for the appellants in the cases involving this issue to rely on the Hon'ble Kamataka HC decision in the case of Totgar's Co-operative sale society 392 ITR 74 and argue that it is held i…

The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd, Satara vs. ACIT, Satara, Cir-Satara

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

ITA 2155/PUN/2025[2020-21]Status: DisposedITAT Pune28 Nov 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.2155 & 2156/Pun/2025 निर्धारण वर्ष / Assessment Year : 2020-21 The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd., Ajinkya Complex, 512, Ch. Shivaji Road, Camp, Sadar Bazar, Satara-415001 Pan: Aaaat1502B अपीलार्थी / Appellant Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Asst. Commissioner Of Income Tax, Satara Circle, Vs. Satara प्रत्यर्थी / Respondent Ms. Renuka Arunrao Ghatge Shri S. Sadananda Singh 11-11-2025 28-11-2025 आदेश / Order Per Astha Chandra, Jm : The Above Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Both Dated 15.07.2025 Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi [“Cit(A)”/“Nfac"] Pertaining To Assessment Year (“Ay") 2020-21. For The Sake Of Convenience, Both These Appeals Were Heard Together & Are Being Disposed Of By This Common Order.

For Appellant: Department byFor Respondent: Date of hearing

Section 139(1)Section 143(2)Section 144Section 41(1)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(b)Section 80P(2)(d)

…come by way of interest or dividends derived by the co-operative society from its investments with any other co-operative society. To become eligible for deduction, the investment has to be made in another Co-operative Society. The Hon'ble SC in Totgar's case 322 ITR 383 has held that the assessee would not be eligible for deduction under Section 80P(2)(d) in relation to interest income earned from Co-operative banks. It is common for the appellants in the cases involving this issue to rely on the Hon'ble Kamataka HC decision in the case of Totgar's Co-operative sale society 392 ITR 74 and argue that it is held i…

The Radhu Mercantile Co. Op. Credit Society Ltd., Kheda vs. The CPC, It Department Jurisdictional AO : the ITO, Ward-1, Nadiad

In the result, all the three appeals filed by the assessee are partly allowed

ITA 587/AHD/2024[2021-22]Status: DisposedITAT Ahmedabad29 Aug 2024AY 2021-22

Bench: Ms. Suchitra Kambleassessment Year: 2021-22

Section 143(1)Section 143(1)(a)Section 8Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…r of the Assessing Officer is as per the provisions of Income Tax Statute. As regards to merits of the case, the Ld. DR submitted that the CIT(A) has categorically mentioned the decision of Hon’ble Apex Court in the case of Totgar’s Co-operative Sale Society, 322 ITR 383 wherein it is held that the assessee would not be eligible for deduction under Section 80P(2)(d) of the Act in respect of interest income earned from Co-op. Bank Societies. The Ld. DR relied upon the decision of Hon’ble Kolkata High Court in case of Totgar’s Co- operative Sales Society, 392 ITR 74 as well. The Ld. DR also relied upon the decision…

Balasinor Road Transport Co. Op. Society Ltd., Mahisagar vs. CPC, Bengapuru Present Jurisdiction the ACIT, Anand Circle, Anand

In the result, all the three appeals filed by the assessee are partly allowed

ITA 418/AHD/2024[2021-22]Status: DisposedITAT Ahmedabad29 Aug 2024AY 2021-22

Bench: Ms. Suchitra Kambleassessment Year: 2021-22

Section 143(1)Section 143(1)(a)Section 8Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…r of the Assessing Officer is as per the provisions of Income Tax Statute. As regards to merits of the case, the Ld. DR submitted that the CIT(A) has categorically mentioned the decision of Hon’ble Apex Court in the case of Totgar’s Co-operative Sale Society, 322 ITR 383 wherein it is held that the assessee would not be eligible for deduction under Section 80P(2)(d) of the Act in respect of interest income earned from Co-op. Bank Societies. The Ld. DR relied upon the decision of Hon’ble Kolkata High Court in case of Totgar’s Co- operative Sales Society, 392 ITR 74 as well. The Ld. DR also relied upon the decision…

Sahyog Co. Operative Credit Society Limited, Mahisagar vs. CPC, Income Tax Department, Bengaluru Present Jurisdictional ACIT, Anand Circle, Anand

In the result, all the three appeals filed by the assessee are partly allowed

ITA 417/AHD/2024[2021-22]Status: DisposedITAT Ahmedabad29 Aug 2024AY 2021-22

Bench: Ms. Suchitra Kambleassessment Year: 2021-22

Section 143(1)Section 143(1)(a)Section 8Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…r of the Assessing Officer is as per the provisions of Income Tax Statute. As regards to merits of the case, the Ld. DR submitted that the CIT(A) has categorically mentioned the decision of Hon’ble Apex Court in the case of Totgar’s Co-operative Sale Society, 322 ITR 383 wherein it is held that the assessee would not be eligible for deduction under Section 80P(2)(d) of the Act in respect of interest income earned from Co-op. Bank Societies. The Ld. DR relied upon the decision of Hon’ble Kolkata High Court in case of Totgar’s Co- operative Sales Society, 392 ITR 74 as well. The Ld. DR also relied upon the decision…

Tansy Investments P. Ltd, Mumbai vs. ITO 8(3)(3), Mumbai

In the result appeal filed by the assesse for AY 2011-12 is partly

ITA 2096/MUM/2013[2009-10]Status: DisposedITAT Mumbai26 Jul 2019AY 2009-10

Bench: Shri Pawan Singh & Shri G. Manjunatha & Ita No.762/Mum/2015 (Assessment Years :2009-10 & 2011-12) M/S Tansy Investments Pvt.Ltd. Vs. Ito-8(3)(3) 217, 2Nd Floor 1, ‘Anup”, Sun Beam Chs New Versova Link Road Aaykar Bhawan Andheri(W),Mumbai-400 053 Mumbai-400 020 Pan/Gir No.Aaact4959N Appellant) .. Respondent)

Section 143(2)Section 14ASection 36Section 41

…and other expenses. 4. The Ld. AO, after considering the submissions of the assessee and also relied upon various judicial precedents including the decision of Hon’ble Supreme Court in the case of M/s The Totgar’s cooperatives sales Pvt.Limited vs ITO (2010 322 ITR 383) assessed interest income from fixed deposits and dividend income under the head income from other sources. Similarly, the Ld. AO has disallowed interest paid on loan from Federal Bank u/s 36(1)(iiii), on the ground that the assessee has borrowed loan from bank and diverted the same to give interest free advances to shareholders/associates and…