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

THE SATARA ZILLA KRISHI BANK KARMACHARI SAHAKARI PATSANSTHA LTD,SATARA vs. ACIT, SATARA, CIR-SATARA, SATARA

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

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

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

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

THE SATARA ZILLA KRISHI BANK KARMACHARI SAHAKARI PATSANSTHA LTD,SATARA vs. ACIT, SATARA, CIR-SATARA, SATARA

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

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

For Appellant: \nDepartment by

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

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

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…