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

Income Tax Officer vs. Swa Ashokrao Bankar Nagari Sahakari Patsanstha Maryadit, Nashik

In the result, the appeal is dismissed

ITA 155/PUN/2017[2013-14]Status: DisposedITAT Pune23 Jan 2019AY 2013-14

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

Section 80PSection 80P(2)(a)

…rative Ltd. Vs. ITO 3 Swa Ashokrao Bankar Nagari Sahakari Patsanstha Maryadit (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,…

Mohol Nagari Sahakari Pat Purvatha Sanstha Maryadit, Solapur vs. Income-Tax Officer, Ward - 2, Pandharpur

In the result, the appeal is allowed

ITA 584/PUN/2018[2014-15]Status: DisposedITAT Pune13 Dec 2018AY 2014-15

Bench: Shri R.S. Syal

For Appellant: None (written submission)For Respondent: Shri M.K. Verma
Section 80Section 80P

…t 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 3 A.Y.2014-15 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, t…

M/S. Ratnatray Gramin Bigar Sheti Sah. Pat. Sanstha Maryadit, Solapur vs. Income-Tax Officer, Ward - 2, Pandharpur

In the result, the appeal for A

ITA 559/PUN/2018[2012-13]Status: DisposedITAT Pune11 Dec 2018AY 2012-13

Bench: Shri R.S. Syalआयकर अपील सं. / Ita Nos.559 & 560/Pun/2018 िनधा"रण वष" / Assessment Years : 2012-13 & 2014-15

Section 40Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. / ITA Nos.559 & 560/PUN/2018 िनधा"रण वष" / Assessment Years : 2012-13 & 2014-15 M/s. Ratnatray Gramin Bigar ITO, Ward-2, Sheti Sah.Pat Sanstha Maryadit, Vs. Pandharpur At Post : Sadashivnagar, Malshiras, Solapur – 413109 PAN : AAAAR3999Q (Appellant) (Respondent) Appellant by Ms. Riya Shah Respondent by Shri M.K. Verma Date of hearing 11-12-2018 Date of pronouncement 11-12-2018 आदेश / ORDER PER R.S.SYAL, VP : These two appeals by the assessee relate to the assessment years 2012-13 & 2014-15. Since s…

Income-Tax Officer vs. Sureshdada Jain Nagri Sahakari Patsanstha, Jalgaon

In the result, the appeal is dismissed

ITA 589/PUN/2016[2012-13]Status: DisposedITAT Pune28 Nov 2018AY 2012-13

Bench: Shri R.S. Syal & Shri Vikas Awasthy

Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.589/PUN/16 िनधा"रण वष" / Assessment Years : 2012-13 ITO, Ward-1(4), Sureshdada Jain Nagri Jalgaon Vs. Sahakari Patsanstha, 7, Pandit Deendayal Market, Jamner, Ta. Jamner, Dist. Jalgaon PAN : AAAAS9364C (Appellant) (Respondent) Appellant by Shri Sudhendu Das Respondent by Shri Sunil Ganoo Date of hearing 27-11-2018 Date of pronouncement 28-11-2018 आदेश / ORDER PER R.S.SYAL, VP : This appeal by the Revenue is directed against the order passed by the C…

Indian Bank Employees Co-Operative Thrift & Credit Society, New Delhi vs. ITO, New Delhi

In the result, appeal is allowed for statistical purposes

ITA 5118/DEL/2016[2012-13]Status: DisposedITAT Delhi21 Jun 2018AY 2012-13

Bench: Shri R.S. Syalassessment Year: 2012-13

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Sh. B.R. Mishra, Sr. DR
Section 80P

…on the judgment of the Hon'ble Supreme Court in the case of The Totgars Cooperative Sale Society Limited vs. ITO (2010)322 ITR 283 (SC) and that of the Hon'ble jurisdictional High Court in Mantola Co-operative Thrift and Credit Society Limited vs. CIT (2014) 110 DTR 89 (Del) to deny the 2 assessee’s claim by holding that the assessee deposited its surplus funds and hence deduction was not permissible. 4. I have heard the rival submissions and perused the relevant material on record. The Hon’ble Summit Court in The Totgars Cooperative Sale Society Limited (supra) has held that interest income earned by a co-oper…