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

Shivkrupa Nagari Sahakari Pata Sanstha Ltd., Pune vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 373/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

Tuljaram Chtaturchand Mahavidyalaya Sevakanchi Saha Patsanstha Maryadit, Pune vs. Income-Tax Officer, Ward 14 (5), Pune

In the result, all the appeals are allowed

ITA 370/PUN/2022[2018-19]Status: DisposedITAT Pune21 Dec 2022AY 2018-19

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 80PSection 80P(2)(d)Section 80P(4)Section 8P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 43/PUN/2022 Saska Nagari Sahakari ADIT, CPC, 2019-20 Patsanstha Maryadit, Bengaluru Pulachi Shiroli, Tal. Hatkanangale, Dist. Kolhapur 416 122 PAN : AAFAS4188M 2 86/PUN/2022 Sadguru Gramin Bigarsheti ITO, Ward-2, 2017-18 Sahakari Patsanstha Maryadit, Pandharpur Near Maruti Temple, Manohar Main Road, Mohol Maharashtra 413 216 PAN : ABPFS0712F 3 363/PUN/2022 Pune Zilla Madhyawarti PCIT-3, Pune 2017-18 Sah…

Pune Zilha Madhyawarti Sahakari Bank Karamachari Sahakari Patsanstha Maryadit, Pune vs. Principal Commissioner of Income-Tax -3, Pune

In the result, all the appeals are allowed

ITA 363/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 80PSection 80P(2)(d)Section 80P(4)Section 8P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 43/PUN/2022 Saska Nagari Sahakari ADIT, CPC, 2019-20 Patsanstha Maryadit, Bengaluru Pulachi Shiroli, Tal. Hatkanangale, Dist. Kolhapur 416 122 PAN : AAFAS4188M 2 86/PUN/2022 Sadguru Gramin Bigarsheti ITO, Ward-2, 2017-18 Sahakari Patsanstha Maryadit, Pandharpur Near Maruti Temple, Manohar Main Road, Mohol Maharashtra 413 216 PAN : ABPFS0712F 3 363/PUN/2022 Pune Zilla Madhyawarti PCIT-3, Pune 2017-18 Sah…

Shri Saraswati Sarvavyavasaik Nagari Sahakari Patsanstha Maryadit, Solapur vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 357/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

Jai Tuljabhavani Sahakari Patpedhi Maryadit Ltd., Panvel vs. Principal Commissioner of Income-Tax -1, Thane

In the result, all the appeals are allowed

ITA 350/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

Tuljaram Chjaturchand Mahavidyalaya Sevakanchi Saha Patsanstha Maryadit, Pune vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 331/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

State Bank of India Employees Co-Op Cr Soc, Pune vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 305/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

Rajhans Gramin Bigarsheti Co-Op Cr Soc Ltd, Pune vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 304/PUN/2022[2017-18]Status: DisposedITAT Pune21 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

Marathwada Krishi Vidyapeeth Karmachari Sahkari Patsanstha Ltd, Parbhani vs. Pr. Commissioner of Income-Tax-1, Aurangabad

In the result, all the appeals are allowed

ITA 102/PUN/2020[2014-15]Status: DisposedITAT Pune21 Dec 2022AY 2014-15

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER Sl. ITA No. Name of Appellant Name of Asst. Year No. Respondent 1 102/PUN/2020 Marathwada Krishi Vidyapeeth PCIT-1, 2014-15 Karmachari Sahkari Patsanstha Aurangabad Ltd., Sahakar, Krishi Sarathi Colony, Basmath Raod, Parbhani-431401 PAN :AAAAM6906E 2 304/PUN/2022 Rajhans Gramin Bigarsheti ITO, 2017-18 Co.op. Credit Society Ltd., Ward-14(5), At & Post Karanje, Pune Tal. Baramati, Dist. Pune - 412306 PAN :AAAAR0265M 3 305/PUN/2022 State Bank of India Employees PCIT-4, P…

The Belgaum Coal and Coke Consumer Co-Operative Association Limited, Belgavi vs. Income Tax Officer, Ward - 1(1), Belgavi

Appeal is allowed in above terms

ITA 66/PAN/2019[2014-15]Status: DisposedITAT Panaji19 Dec 2022AY 2014-15

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Shivanand HalbhaviFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 2(19)Section 80P(2)(a)Section 80P(2)(d)

…taka 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. 5 ITA.No.66/PAN/2019 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 Trib…

The Keri Urban Co-Op. Credit Society Ltd., Keri, Goa vs. The Income Tax Officer, Ward-2(3), Panaji

Appeal is allowed in above terms

ITA 140/PAN/2019[2015-16]Status: DisposedITAT Panaji19 Dec 2022AY 2015-16

Bench: Shri Satbeer Singh Godara

For Appellant: Shri S.J. KamatFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 40Section 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…

The Orgaon Urban Co-Operative Credit Society Limited, Marcela vs. Income Tax Officer, Ward - 2(3), Panaji

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

ITA 242/PAN/2019[2015-16]Status: DisposedITAT Panaji30 Nov 2022AY 2015-16

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.242/Pan/2019 िनधा"रण वष" / Assessment Year : 2015-16 The Orgaon Urban Co- Vs. Ito, Ward-2(3), Panaji, Operative Credit Society Goa. Limited, Deulwada, Marcela, Goa- 403107. Pan : Aaaat6227D Appellant Respondent Assessee By : Shri Madhu Gawde Revenue By : Shri N. Shrikanth Date Of Hearing : 16.11.2022 Date Of Pronouncement : 30.11.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Panaji [‘The Cit(A)’] Dated 29.05.2019 For The Assessment Year 2015-16. 2. The Appellant Raised The Following Grounds Of Appeal :- “1) The Learned Cit(A) Has Not Appreciated Appellants Submission That Though The Appellants Case Was Selected For Limited Scrutiny Under Cass Of Deduction Under Chapter Via & Low Income & High Loans / Advances / Investments The Learned Assessing Officer Erred In Examining Other Issues & Has Wrongly Travelled Beyond His Permitted Ambit In Making The Disallowances U/S. 40(A)(Ia) & Sec. 36(1)(V). 2) The Learned Cit(A) Ought To Have Considered That The Interest Earned On Statutory Investments Of Statutory Funds In The Apex Bank(Cooperative

For Appellant: Shri Madhu GawdeFor Respondent: Shri N. Shrikanth
Section 143(3)Section 194ASection 36Section 36(1)(iv)Section 36(1)(v)Section 36(1)(va)Section 40Section 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 6 Tribunal in Shri Laxmi Nar…

Sumitra Gramin Bigar Sheti Sahakari Pat. Sanstha Maryadit, Solapur vs. Income-Tax Officer, Ward - 1(4), Pandharpur

In the result, appeal of the Assessee is Allowed

ITA 1148/PUN/2018[2010-11]Status: DisposedITAT Pune04 Nov 2022AY 2010-11

Bench: Shri S.S.Godara & Dr. Dipak P. Ripote. आयकर अपीलसं. / Ita No.1148/Pun/2018 िनधा"रण वष" / Assessment Year : 2010-11 Sumitra Gramin Bigar Sheti The Income Tax Officer, Sahakari Pat Sanstha Maryadit Vs Ward-1(4), Pandharpur. Mahaveer Path, At Post Aklujk, Tal Malshiras, Dist Solapur – 413101. Pan: Aaaas 1014 K Appellant / Assessee Respondent / Revenue Assessee By None Revenue By Shri S P Walimbe – Dr Date Of Hearing 10/08/2022 Date Of Pronouncement 04/11/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-7, Pune, Dated 26.04.2018 For The A.Y. 2010-11 Under Section 250 Of The Income Tax Act, 1961(In Short “The Act”). The Assessee Has Raised The Following Grounds Of Appeal: “1. In The Facts & Circumstances Of The Case & In Law, The Learned C.I.T.[A] Has Grossly Erred In Denying Deduction U/S 80P[2][A][I] Of The I.T. Act 1961 To The Appellant In Respect Of Interest Income Of Rs.1,08,53,328/- Earned From Fixed Deposits Kept By It With Nationalized Banks & Has Further Erred In Taxing The Said Income U/S 56 Of The I. T. Act, 1961. The Aforesaid Addition Being Patently Illegal, Bad In Law, Arbitrary, Perverse & Devoid Of Merits The Same May Please Be Deleted & It May Please Be Held That The Aforesaid Interest Income Is Exempt U/S

Section 250Section 56Section 80PSection 80P(2)(a)

…No.1148/PUN/2018 for A.Y. 2010-11 Sumitra Gramin Bigar S.S.P.S.Maryadit Mahaveer Path (A) 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…

Sharda Urban Credit Co-Op Society Ltd., Amravati vs. Income Tax Officer, Ward-4, Amravati

In the result, the appeal of assessee is allowed

ITA 386/NAG/2017[2008-2009]Status: DisposedITAT Nagpur31 Oct 2022AY 2008-2009

Bench: Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Rajesh V. Loya, CA (through virtual)For Respondent: Shri G.J. Ninawe (through virtual)
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…

Nirmiti Nagari Sahakari Patsanstha Ltd., Nasik vs. Income-Tax Officer, Ward 1(2), Nashik

In the result, the appeal of assessee is allowed

ITA 442/PUN/2022[2017-18]Status: DisposedITAT Pune26 Oct 2022AY 2017-18

Bench: Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.442/Pun/2022

For Appellant: Shri Sanket Milind JoshiFor Respondent: Shri Piyush Kumar Singh Yadav
Section 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…

Utkranti Nagari Sahakari Patsanstha Maryadit, Post: Jarud, Warud vs. ITO Ward 5, Amravati

In the result, the appeal is allowed

ITA 183/NAG/2021[2014-2015]Status: DisposedITAT Nagpur18 Oct 2022AY 2014-2015

Bench: Shri R.S. Syal

Section 250Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, NAGPUR (AT e-Court, PUNE) BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. /ITA No.183/NAG/2021 "नधा"रण वष" / Assessment Year : 2014-15 Utkranti Nagari Sahakari Vs. ITO, Ward-5, Patsanstha Maryadit, Amravati Post Jarud, Warud, Amravati – 444906, Maharashtra PAN : AAAAU3885G Appellant Respondent Assessee by Shri Naresh Jakhotai Revenue by Shri Kailash G. Kanojiya Date of hearing 17-10--2022 Date of pronouncement 18-10-2022 आदेश / ORDER PER R.S. SYAL, VP: This appeal by the assessee arises out of the order dated 30-09-2021 passed by the National Faceless Appea…

Nagpur Griha Nirman & Shetrvikas Mandal Karmachari Sahakari Pat Sanstha, Nagpur vs. Income Tax Officer, Ward1(3), Nagpur

In the result, the appeal is allowed

ITA 121/NAG/2021[2017-18]Status: DisposedITAT Nagpur18 Oct 2022AY 2017-18

Bench: Shri R.S. Syalआयकर अपील सं. /Ita No.121/Nag/2021 "नधा"रण वष" / Assessment Year : 2017-18

Section 250Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, NAGPUR (AT e-Court, PUNE) BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. /ITA No.121/NAG/2021 "नधा"रण वष" / Assessment Year : 2017-18 Nagpur Griha Nirman & Vs. ITO, Ward-1(3), Shetrvikas Mandal Karmachari Nagpur Sahakari Patsanstha, Mhada Bhawan, Near New Aamdar Niwas, Civil Lines, Nagpur 440 001 Maharashtra PAN : AAAAN6378H Appellant Respondent Assessee by Shri K.P. Dewani Revenue by Shri G.J. Ninawe Date of hearing 17-10--2022 Date of pronouncement 18-10-2022 आदेश / ORDER PER R.S. SYAL, VP: This appeal by the assessee arises out of the order dated 01-09-20…

Ratnadeep Sahakari Nagari Patpedhi Maryadit, Shahada vs. Income Tax Officer Dhule, Dhule

In the result, the appeal is allowed

ITA 388/PUN/2022[2017-18]Status: DisposedITAT Pune01 Sept 2022AY 2017-18

Bench: Shri R.S. Syalआयकर अपील सं. / Ita No.388/Pun/2022 "नधा"रण वष" / Assessment Year : 2017-18

Section 250Section 80P

…ka 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 Nara…

State Bank of India Employees Co-Op Cr Soc, Pune vs. Income-Tax Officer, Ward 7(1), Pune

In the result, the appeal is allowed

ITA 306/PUN/2022[2018-19]Status: DisposedITAT Pune29 Aug 2022AY 2018-19

Bench: Shri R.S. Syalआयकर अपील सं. / Ita No.306/Pun/2022 "नधा"रण वष" / Assessment Year : 2018-19

Section 250Section 5Section 80PSection 80P(2)(a)Section 80P(2)(d)

…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 3 State Bank of India Employees Co-op. Credit Society Limited 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 Nara…

Shantinath Nagari Sahakari Pat Sanstha Maryadit, Kolhapur vs. Assistant Director of Income-Tax, CPC, Bengaluru

In the result, the appeal of the assessee is allowed

ITA 534/PUN/2021[2019-20]Status: DisposedITAT Pune17 Aug 2022AY 2019-20

Bench: Us Is The Denial Of Deduction U/S 80P(2)(A)(I) Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) Even Though The Assessee Qualifies For Deduction Being A Registered Co-Operative Society Vis-À-Vis In Providing Credit Facilities To Its Members. There Are Several Decisions Of The Co-Ordinate Bench Pune, Where Deduction U/S 80P(2)(A)(I) Has Been Allowed To A Registered Co-Operative Society Engaged In Providing Credit Facilities To Its Members. In Ita No. 826/Pun/2019 For A.Y. 2014-15, Order Dated 23-09-2020, It Was Held As Follows:

For Appellant: Shri Pramod ShingteFor Respondent: Shri Arvind Desai
Section 80PSection 80P(1)Section 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…