Mantola Cooperative Thrift Credit Society Ltd. v. CIT

110 DTR 89High Court2014#821 most cited

What is Mantola Cooperative Thrift Credit Society Ltd. v. CIT authority for?

A cooperative society is not entitled to claim deduction under Section 80P of the Income Tax Act on interest income earned from deposits made with banks.

125

judgments rely on this decision, according to BharatTax’s citation analysis of 366,369 Indian tax judgments — from 2018 to 2026.

Also referred to as

Mantola Cooperative Thrift Credit Society · Section 80P deduction · interest income from banks · cooperative society · section 80P(2)(d) · section 80P(2)(a)(i) · bank deposits · Totgar's Cooperative Sale Society Ltd · Delhi High Court

Sections most often in play

Section 80P(2)(a)(i)Section 80P(2)(d)Section 80P(4)Section 143(3)Section 1963Section 143(2)Section 2(19)Section 56

Issues it is cited on

section 80p(2)(a)(i)section 80p(2)(d)section 80p(2)(a)section 80p(2)section 80p(4)section 80psection 2(19)section 80limited scrutinysection 56service of noticefirst appeal

Judgments citing Mantola Cooperative Thrift Credit Society Ltd. v. CIT

Yashwant Nagari Sahakari Patsanstha Maryadit, Pune vs. ITO Ward 10(1) Pune, Pune

In the result, appeal of the assessee is allowed

ITA 644/PUN/2024[2017-18]Status: DisposedITAT Pune04 Jun 2024AY 2017-18

Bench: AND SHRI VINAY BHAMORE (Judicial Member)

Section 143(3)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…arnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) allowing the deduction u/s. 80P on interest income and the Hon’ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income, earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the…

Indapur Taluka Prathmik Shikshakanchi Sahakari Patasnatha Maryadit, Pune vs. Income Taxofficer, Ward 14(5), Pune

In the result, the appeal of the assessee is allowed

ITA 348/PUN/2024[2018-19]Status: DisposedITAT Pune04 Jun 2024AY 2018-19

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

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Ramnath P. Murkunde
Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…arnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) allowing the deduction u/s. 80P on interest income and the Hon’ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the T…

Talegaon Nagari Sahakari Patsanstha Limited, Pune vs. Income Tax Officer Ward-9(3), Pune

In the result, the appeal filed by the assessee is allowed

ITA 743/PUN/2024[2020-21]Status: DisposedITAT Pune03 Jun 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.743/Pun/2024 "नधा"रण वष" Assessment Year : 2020-21 Talegaon Nagari Sahakari Vs. Ito, Ward-9(3), Patsanstha Limited, Pune Bajar Peth, Talegaon Dabhade, Tal. Maval, Dist. Pune 410506 Maharashtra Pan : Aabat3160G Appellant Respondent

For Appellant: NoneFor Respondent: Shri Sourabh Nayak
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA No.743/PUN/2024 "नधा"रण वष" Assessment Year : 2020-21 Talegaon Nagari Sahakari Vs. ITO, Ward-9(3), Patsanstha Limited, Pune Bajar Peth, Talegaon Dabhade, Tal. Maval, Dist. Pune 410506 Maharashtra PAN : AABAT3160G Appellant Respondent Assessee by : None Revenue by : Shri Sourabh Nayak Date of hearing : 03.06.2024 Date of pronouncement : 03.06.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the orde…

Shri Hariom Nagari Sahakari Patsanstha Maryadit, Nashik vs. Income Tax Officer Ward-1(1), Nashik

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

ITA 680/PUN/2024[2020-21]Status: DisposedITAT Pune03 Jun 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.679 & 680/Pun/2024 "नधा"रण वष" Assessment Years : 2018-19 & 2020-21

For Respondent: Shri Shanshank Deogadkar
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Shri Hariom Nagari Sahakari Patsanstha Maryadit, Nashik vs. Income Tax Officer Ward-1(1), Nashik

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

ITA 679/PUN/2024[2018-19]Status: DisposedITAT Pune03 Jun 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.679 & 680/Pun/2024 "नधा"रण वष" Assessment Years : 2018-19 & 2020-21

For Respondent: Shri Shanshank Deogadkar
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Paisafund Gramin Bigar Steti Sahakari Pat Sanstha Maryadit Surli, Satara vs. ITO Ward 1, Satara

In the result, the appeal filed by the assessee is allowed

ITA 749/PUN/2024[2018-19]Status: DisposedITAT Pune31 May 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.749/Pun/2024 "नधा"रण वष" Assessment Year : 2018-19 Paisafund Gramin Bigar Sheti Vs. Ito, Ward-1, Sahakari Pat Sanstha Maryadit Satara Surli, At Post Surli, Karad, Satara – 415 110 Maharashtra Pan : Aagap3077R Appellant Respondent

For Appellant: Shri Kishor PhadkeFor Respondent: Shri R.Y. Balawade
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA No.749/PUN/2024 "नधा"रण वष" Assessment Year : 2018-19 Paisafund Gramin Bigar Sheti Vs. ITO, Ward-1, Sahakari Pat Sanstha Maryadit Satara Surli, At Post Surli, Karad, Satara – 415 110 Maharashtra PAN : AAGAP3077R Appellant Respondent Assessee by : Shri Kishor Phadke Revenue by : Shri R.Y. Balawade Date of hearing : 31.05.2024 Date of pronouncement 31.05.2024 : आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed a…

Ramling Gramin Bigarsheti Sahakari Patsanstha Limited, Ahmednagar vs. The Income Tax Officer Ward 2, Ahmednagar, Ahemdnagar

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

ITA 728/PUN/2024[2020-21]Status: DisposedITAT Pune30 May 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.726 To 728/Pun/2024 "नधा"रण वष" Assessment Years : 2017-18, 2018-19 & 2020-21

For Respondent: Shri RY. Balawade
Section 144Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Ramling Gramin Bigarsheti Sahakari Patsanstha Limited, Ahmednagara vs. The Income Tax Officer Ward 2, Ahmednagar

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

ITA 727/PUN/2024[2018-19]Status: DisposedITAT Pune30 May 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.726 To 728/Pun/2024 "नधा"रण वष" Assessment Years : 2017-18, 2018-19 & 2020-21

For Respondent: Shri RY. Balawade
Section 144Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Ramling Gramin Bigarsheti Sahakari Patsanstha Limited, Ahmednagar vs. The Income Tax Officer Ward 2, Ahmednagar, Ahemdnagar

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

ITA 726/PUN/2024[2017-18]Status: DisposedITAT Pune30 May 2024AY 2017-18

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.726 To 728/Pun/2024 "नधा"रण वष" Assessment Years : 2017-18, 2018-19 & 2020-21

For Respondent: Shri RY. Balawade
Section 144Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Income Tax Officer, Ward 1(1), Nashik vs. Swa Ashokrao Bankar Nagari Sahakari Patsanstha Maryadit, Nashik

In the result, the appeal is dismissed

ITA 58/PUN/2024[2020-21]Status: DisposedITAT Pune14 May 2024AY 2020-21

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2020-21

For Appellant: Shri Pramod S ShingteFor Respondent: Shri Sourabh Nayak, Addl.CIT
Section 143(2)Section 57Section 80(2)(d)Section 80PSection 80P(2)(a)

…arnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) allowing the deduction u/s. 80P on interest income and the Hon’ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the T…

Sindhudurg Zilla Gramsevak Sahakari Pat Sanstha Maryadit Sindhudurg Oros, Oras Kudal vs. Income Tax Officer, Kudal

In the result, the appeal filed by the assessee stands allowed

ITA 560/PUN/2024[2018-19]Status: DisposedITAT Pune30 Apr 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamore

For Appellant: Shri NoneFor Respondent: Shri Manoj Tripathi
Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.560/PUN/2024 निर्धारण वर्ा / Assessment Year : 2018-19 Sindhudurg Zilla Gramsevak Vs. Income Tax Officer, Sahakari Pat Sanstha Kudal Maryadit, Sindhudurg Oros, Oras, Kudal PAN : AANAS4616E Appellant Respondent Assessee by : Shri None Revenue by : Shri Manoj Tripathi Date of hearing : 30.04.2024 Date of pronouncement : 30.04.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the Nati…

Baner Nagari Sahakari Pat Sanstha Maryadit, Pune vs. Income Tax Officer, Ward 2(2), Pune

In the result, the appeal filed by the assessee stands allowed

ITA 549/PUN/2024[2018-19]Status: DisposedITAT Pune30 Apr 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamore

For Appellant: Shri Randeep SharmaFor Respondent: Shri Manoj Tripathi
Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.549/PUN/2024 निर्धारण वर्ा / Assessment Year : 2018-19 Baner Nagari Sahakari Pat Vs. Income Tax Officer, Sanstha Maryadit, Ward – 2(2), Pune Ground Floor, Survey No. 182, Baner Road, Aundh-411045 PAN : AAAJB0667Q Appellant Respondent Assessee by : Shri Randeep Sharma Revenue by : Shri Manoj Tripathi Date of hearing : 29.04.2024 Date of pronouncement : 30.04.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee dire…

Income-Tax Officer Ward-2, Ahmednagar vs. Mahesh Nagari Sahakari Patsanstha Limited, Sangamner Dist. Ahmednagar

In the result, the appeal of Revenue is dismissed

ITA 1250/PUN/2023[2020-21]Status: DisposedITAT Pune19 Mar 2024AY 2020-21

Bench: SHRI PARTHA SARATHI CHAUDHURY (Judicial Member), DR. DIPAK P. RIPOTE (Accountant Member)

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri R.Y. Balawade, Addl. CIT
Section 80PSection 80P(2)(a)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon‟ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon‟ble High Courts took into consideration the ratio laid down in the case of Totgar‟s Cooperative Sale Society Ltd. (supra). No direct judgment from the Hon‟ble jurisdictional High Court on the point having been pointed out, the Tribunal in Shri Laxmi Narayan N…

Ajayshree Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Pune vs. NFAC, Delhi

In the result, appeal of the assessee is allowed

ITA 1427/PUN/2023[2018-19]Status: DisposedITAT Pune08 Mar 2024AY 2018-19

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1427/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Ajayshree Gramin Bigar Sheti The National Faceless Sahakari Patasanstha Maryadit, V Assessment At Post Murum, Tal Baramati, S Centre(Nfac), Delhi. Dist Pune, Pune – 412306. Pan: Aaaaa9964E Appellant/ Assessee Respondent /Revenue Assessee By Shri Manoj R Jain – Ar Revenue By Shri Ramnath P Murkunde - Dr Date Of Hearing 06/03/2024 Date Of Pronouncement 08/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac] Dated 30.10.2023 For A.Y.2018-19. The Grounds Of Appeal Raised By The Assessee Are As Under : “1. The Learned Cit (A) Has Erred In Confirming The Addition Of Rs.86,59,612/-Made By The Ao On Account Of Disallowance Of Deduction Claimed By The Appellant U/S 80P(2)(A)(I) Of The Act Without Considering The Detailed Submissions Made By The Appellant & Without Passing Any Speaking Order, On The Ground That Only The Income Earned By Providing Credit Facility To Its Members Be Treated Ajayshree Gramin Bigar Sheti Sahakari Patasanstha Maryadit [A]

Section 143(3)Section 57Section 80PSection 80P(2)(a)

…arnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) allowing the deduction u/s. 80P on interest income and the Hon’ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income, earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the…

Karmaveer Bhaurao Patil Nagari Sahakari Patsanstha Maryadit, Hadapsar Pune vs. Income Tax Officer, Ward 14 (1) Pune, Pune

Appeals of the assessee are ALLOWED

ITA 1046/PUN/2023[2020-21]Status: DisposedITAT Pune21 Feb 2024AY 2020-21

Bench: Hon’Ble Partha Sarathi Choudhury & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 1045 & 1046/Pun/2023 निर्धारण वषा / Assessment Year : 2018-19 & 2020-21 Karmaveer Bhaurao Patil Nagari Sahakari Patsanstha Maryadit Sr No. 14, Satyaraj Complex, Hadapsar, Pune-411028 Pan: Aaaak3735D . . . . . . . अपीलार्थी / Appellant

For Appellant: Mr Pramod Shingte [‘Ld. AR’]For Respondent: Mr Gaurav Singh [‘Ld. DR’]
Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Karmaveer Bhaurao Patil Nagari Sahakari Patsanstha Maryadit, Hadapsar Pune vs. Income Tax Officer, Ward 14 (1) Pune, Pune

Appeals of the assessee are ALLOWED

ITA 1045/PUN/2023[2018-19]Status: DisposedITAT Pune21 Feb 2024AY 2018-19

Bench: Hon’Ble Partha Sarathi Choudhury & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 1045 & 1046/Pun/2023 निर्धारण वषा / Assessment Year : 2018-19 & 2020-21 Karmaveer Bhaurao Patil Nagari Sahakari Patsanstha Maryadit Sr No. 14, Satyaraj Complex, Hadapsar, Pune-411028 Pan: Aaaak3735D . . . . . . . अपीलार्थी / Appellant

For Appellant: Mr Pramod Shingte [‘Ld. AR’]For Respondent: Mr Gaurav Singh [‘Ld. DR’]
Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Konkan Education Soc. Sevaksahakari Patpedhi Ltd, Raigarh vs. Income Tax Officer, Ward-3, Panvel

The appeals of the assessee are ALLOWED

ITA 47/PUN/2024[2020-21]Status: DisposedITAT Pune20 Feb 2024AY 2020-21

Bench: Hon’Ble Partha Sarathi Choudhury & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 046 & 047/Pun/2024 निर्धारण वषा / Assessment Year : 2018-19 & 2020-21

For Appellant: Mr Giteesh Kalyani through virtual [‘Ld. AR’]For Respondent: Mr Gaurav Singh [‘Ld. DR’]
Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Konkan Education Soc. Sevakshakari Patpedhi Ltd, Raigarh vs. Income Tax Officer, Ward-3, Panvel

The appeals of the assessee are ALLOWED

ITA 46/PUN/2024[2018-19]Status: DisposedITAT Pune20 Feb 2024AY 2018-19

Bench: Hon’Ble Partha Sarathi Choudhury & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 046 & 047/Pun/2024 निर्धारण वषा / Assessment Year : 2018-19 & 2020-21

For Appellant: Mr Giteesh Kalyani through virtual [‘Ld. AR’]For Respondent: Mr Gaurav Singh [‘Ld. DR’]
Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…

Kolhapur District Central Co-Op Bank Kanista Sevakanchi Sahakar Pat Sanstha Ltd, Pune vs. Income Tax Office, Ward-2(1), Pune, Kolhapur

In the result, the appeal filed by the assessee stands allowed

ITA 1365/PUN/2023[2018-19]Status: DisposedITAT Pune01 Jan 2024AY 2018-19

Bench: SHRI INTURI RAMA RAO (Accountant Member)

For Appellant: NoneFor Respondent: Shri Uma Shankar Prasad
Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.1365/PUN/2023 िनधा"रण वष" / Assessment Year : 2018-19 Kolhapur District Central Vs. ITO, Ward-2(1), Co-op. Bank Kanista Kolhapur. Sevakanchi Sahakar Pat Sanstha Ltd., 1092, E Ward, Shahupuri, Dist. Kolhapur- 416001. PAN : AAAAK2427L Appellant Respondent Assessee by : None Revenue by : Shri Uma Shankar Prasad Date of hearing : 01.01.2024 Date of pronouncement : 01.01.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the Nat…

The Athani Credit Co-Operative Society Limited, Athani vs. Income Tax Officer, Ward - 1, Belagavi

Appeal is partly allowed in above terms

ITA 90/PAN/2023[2017-18]Status: DisposedITAT Panaji12 Oct 2023AY 2017-18

Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote

For Appellant: Shri Chetan ChauguleFor Respondent: Shri N. Shrikanth
Section 143(3)Section 68Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 Taxman 309 (Kar.) allowing deduction u/s. 80P on interest income and that of the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Naray…