Mavilayi Service Co-operative Bank Ltd. v. CIT

M/S Poyiloor Service Co-Op Bank Ltd, Kannur vs. ITO Ward 2, Kannur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2014-15 Poyiloor Service Co-Op.Bank The Income Tax Officer-2, Kannothumchal Ltd., Poyiloor Post, Kannur. Vs. Pin – 670002 Pan Aacap8990R Kannur - 670 006 (Respondent) (Appellant)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year - 2014-15 Poyiloor Service Co-op.Bank The Income Tax Officer-2, Kannothumchal Ltd., Poyiloor Post, Kannur. vs. PIN – 670002 PAN AACAP8990R Kannur - 670 006 (Respondent) (Appellant) Appellant by: Shri Arun Raj S., Advocate Respondent Smt. V. Swarnalatha, Sr. DR by: Date of Hearing: 19.08.2024 Date of 07.11.2024 Pronouncement: ORDER PER BENCH : This assessee’s appeal, for assessment year 2014-15, arises against the National Faceless Appeal Centre, Del…

Kannur Town Service Co-Op Bank, Kannur vs. ITO Ward 1, Kannur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhkannur Town Service Co-Op. The Income Tax Officer-1 Bank Ltd. Aayakar Bhavan Vs. Kannur 670002 Kannothumchal [Pan: Aabak8385N] Kannur 670006 (Appellant) (Respondent)

…a)(i) deduction. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 2 Kannur Town Service Co-op. Bank Ltd. 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claimed. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(…

Kannur District Ex Serviceman Multipurpose Co-Op Society, Kannur vs. The ITO Ward 1 & Tps, Kannur

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2016-2017 Kannur District Ex-Servicemen Multipurpose V. The Income Tax Officer Co-Operative Society Limited, Ward 1 & Tps Payangadi Rs Kannur. Kannur 670 303. Pan : Aaaak8922A. (Appellant) (Respondent) Appellant By : Shri George Thomas, C.A. Respondent By : Smt. V. Swarnalatha, Sr. Dr Date Of Date Of Hearing : 13.08.2024 Pronouncement : 05.11.2024 Order Per Bench : This Assessee’S Appeal, Ita.No.432/Coch/2023, For Assessment Year 2016-2017, Arises Out Of The Order Of The Commissioner Of Income-Tax (Appeals) / Nfac Vide Din & Order No.Itba/Nfac/S/250/2022-23/1051675600(1) Dated 30.03.2023, In Proceedings U/S.143(3) Of The Income-Tax Act, 1961; In Short “The Act” Hereinafter.

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Assessment Year - 2016-2017 Kannur District Ex-Servicemen Multipurpose v. The Income Tax Officer Co-operative Society Limited, Ward 1 & TPS Payangadi RS Kannur. Kannur 670 303. PAN : AAAAK8922A. (Appellant) (Respondent) Appellant by : Shri George Thomas, C.A. Respondent by : Smt. V. Swarnalatha, Sr. DR Date of Date of Hearing : 13.08.2024 Pronouncement : 05.11.2024 ORDER PER BENCH : This assessee’s appeal, ITA.No.432/Coch/2023, for assessment year 2016-2017, arise…

Cheeranchira Service Co-Operative Bank Limited, Kottayam vs. ITO, Ward 1&Tps, Thiruvalla

In the result, the appeals filed by the appellant are allowed and

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2017-2018

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Assessment Year - 2017-2018 Cheeranchra Service Co-op. The Income Tax Officer Bank Ltd.Cheeranchira P.O. vs. Ward - 1 & TPS Kottayam - 686 106 Thiruvalla PAN : AAAAC2102J (Appellant) (Respondent) Assessee by : Smt. Swathy S. Advocate Revenue by : Smt. V. Swarnalatha, Sr. D.R. Date of Hearing : 19.08.2024 Date of Pronouncement : 23.10.2024 ORDER PER BENCH : This assessee’s appeal for A.Y. 2017-18 arises against the National Faceless Appeal Centre, Delhi [CIT(…

M/S the General Insurance Employees Co-Operative Society Limited, Ernakulam vs. ITO, Non Corporate Ward 1 (5), Kochi

In the result, the appeal filed by the assessee is allowed for statistical purposes and the stay petition is dismissed as rendered infructuous

Bench: Shri Waseem Ahmed & Shri Soundararajan K

…relied on the judgment of the Hon’ble Supreme Court in The Citizen Co- operative Society Ltd. v. ACIT reported in 397 ITR 1 (SC) and the full bench judgment of the Hon’ble Kerala High Court in the case of CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (FB) (Ker.) had disallowed the deduction claimed u/s 80P of the Act. As against the said order the assessee filed an appeal before the ld.CIT(A) and contended that the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors. v. CIT & Anr. reported in (2021) 431 ITR 1 (SC) had reversed the Full Bench order of the Kerala H…

M/S Chirayinkeezhu Service Co-Operative Bank, Chirayinkeezhu vs. ITO, Ward-2(5), Trivandrum

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

….12,75,20,483/-. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claim. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(2) of the Act, so as to be eligible for th…

Clappana Service Co-Operative Bank Altd., Karunagappally vs. ITO, Ward 1&Tps, Alappuzha

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2017-2018 M/S. Clappana Service Co-Operative The Income Tax Officer Bank Limited No.867 V. Ward 1, Alappuzha. Cp/Viii/410 & 411, Clappana Po Karunagappally, Kollam – 690 525 Pan : Aabac2747A. (Appellant) (Respondent) Appellant By : Shri Rajakannan, Advocate Respondent By : Smt. V. Swarnalatha, Sr. D.R. Date Of Pronouncement : 25.09.2024 Date Of Hearing : 12.08.2024 O R D E R Per Bench : This Assessee’S Appeal For A.Y. 2017-18 Arises Against The National Faceless Appeal Centre, Delhi [Cit(A)]’S Din & Order No. Itba/ Nfac/S/250/2023-24/1055921666(1) Dated 11.09.2023, Passed U/S. 250 Of The Income Tax Act, 1961 (The Act).

…Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per 2 Clappana SCB Ltd. the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claime. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(2) of the Act, so as to be eligible for th…

The Thachinganadam Service Co-Operative Bank Limited, Thachinganadam vs. Income Tax Officer Ward 4 Tirur, Tirur

Appeal is allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…essee has been rightly treated as a cooperative bank than a cooperative society deriving interest income eligible for the impugned deduction. She relies on hon'ble jurisdictional high court decision in Pr.CIT v. Mavilayi Service Co- operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 4. We find no merit in the Revenue’s instant first and foremost technical objection as there is no material on record to indicate that the assessee is carrying-out normal banking business operations with the public at large. Hon’ble apex court’s 5 ITA.No.664/COCH./2023 recent landmark decision in the Kerala State Cooperative Agricult…

Karassery Service Co-Op Bank Ltd, Mukkam vs. The ITO Ward 2(3), Kozhikode

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…as the case may be. The Revenue supports to fortify the same on the ground that this assessee, in fact, is a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claim. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(2) of the Act, so as to be eligible for th…

Karassery Service Co-Op Bank Ltd, Mukkam vs. The ITO Ward 2(3), Kozhikode

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…as the case may be. The Revenue supports to fortify the same on the ground that this assessee, in fact, is a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claim. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(2) of the Act, so as to be eligible for th…

Karassery Service Co-Op Bank Ltd, Mukkam vs. The ITO Ward 2(3), Kozhikode

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

…as the case may be. The Revenue supports to fortify the same on the ground that this assessee, in fact, is a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claim. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(2) of the Act, so as to be eligible for th…

M/S.Puthiyangadi Service Co-Op Bank, Calicut vs. The ITO Ward 1(3), Calicut

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2017-18 M/S. Puthiyangadi Service Co- The Income Tax Officer Operative Bank Limited No.F1421 V. Ward 1(3), Alappuzha. Puthiyangadi Kozhikode – 673 021 Pan : Aacap0749C. (Appellant) (Respondent)

…nue 2 Puthiyangadi SCB Ltd. further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker) (FB). 3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s section 80P deduction claime. The first and foremost issue regarding the same herein is as to whether this assessee is a co-operative society or co-operative bank; within the meaning of section 80P(2) of the Act, so as to be eligible for th…

Thalore Service Co-Op Bank Ltd No 435, Thrissur vs. ITO Ward 2(1), Thrissur

In the result, the assessee’s appeal is allowed for statistical purposes, and it’s stay petition, dismissed

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

…0.22% of the total loans, by the Assessing Officer (AO), was upon placing reliance on the decision by the Hon'ble jurisdictional Thalore Service Co-op. Bank Ltd. v. Ward - 2(1), Thrissur High Court in Pr. CIT v. Mavilayi Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB). He also refers to claim u/s. 80P(2)(d) being not eligible. 3. The assessee’s – registered as a Primary Agricultural Credit Society (PACS) under the Kerala Co-operative Societies Act, 1969 (the Kerala Act), claim before us was that the matter, even as was done by the Bench on an earlier occasion, i.e., for AYs. 2009-10 & 2014-15, vide it…

Sivapuram Service Co-Op Bank Ltd, Kozhikode vs. ITO Ward 2(3), Kozhikode

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

…se.’ Reliance for the purpose is placed, inter alia, on Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC); The Citizen Co-operative Society Ltd. v. Asst. CIT [2017] 397 ITR 1 (SC), as indeed Pr.CIT v. Poonjar Service Co-op. Bank Ltd. [2019] 414 ITR 67 (Ker)(FB).The only difference in the case of Vilavattam SCB Ltd. is that the ratio of agricultural advances is at a negligible 0.12%, and the claim for deduction is in entirety u/s. 80P(2)(a)(i). The matters were heard at length; the issue arising being principally legal. ITA Nos.61-62/Coch/2023 & 1010/Coch/2022 Sivapuram SCB Ltd & Ors.v. ITO 3.…

Sivapuram Service Co-Op Bank Ltd, Kozhikode vs. ITO Ward 2(3), Kozhikode

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

…se.’ Reliance for the purpose is placed, inter alia, on Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC); The Citizen Co-operative Society Ltd. v. Asst. CIT [2017] 397 ITR 1 (SC), as indeed Pr.CIT v. Poonjar Service Co-op. Bank Ltd. [2019] 414 ITR 67 (Ker)(FB).The only difference in the case of Vilavattam SCB Ltd. is that the ratio of agricultural advances is at a negligible 0.12%, and the claim for deduction is in entirety u/s. 80P(2)(a)(i). The matters were heard at length; the issue arising being principally legal. ITA Nos.61-62/Coch/2023 & 1010/Coch/2022 Sivapuram SCB Ltd & Ors.v. ITO 3.…

Vilavattam Service Co-Op Bank Ltd No 337, Thrissur vs. ITO Ward 2(3), Thrissur

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

…se.’ Reliance for the purpose is placed, inter alia, on Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC); The Citizen Co-operative Society Ltd. v. Asst. CIT [2017] 397 ITR 1 (SC), as indeed Pr.CIT v. Poonjar Service Co-op. Bank Ltd. [2019] 414 ITR 67 (Ker)(FB).The only difference in the case of Vilavattam SCB Ltd. is that the ratio of agricultural advances is at a negligible 0.12%, and the claim for deduction is in entirety u/s. 80P(2)(a)(i). The matters were heard at length; the issue arising being principally legal. ITA Nos.61-62/Coch/2023 & 1010/Coch/2022 Sivapuram SCB Ltd & Ors.v. ITO 3.…

The ITO, WD-2(2), RG-2, Trivandrum vs. M/S.Nagaroor Service Co-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

…dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coch/2019 & Ors. ITO v. The Adichanalloor Farmers SCB Ltd. & Ors. 19.3.2019. The later decision, however, having a retrospective effect, the captioned appellate orders were recalled following the decision in Kil Kotagiri Tea & Coffee Estates Co. Ltd. v. ITAT [1988] 174 ITR 579 (Ker). 3.1 All assessees are co-operative s…

The ITO, Trivandrum vs. M/S.Perrorkada Service Co-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

…dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coch/2019 & Ors. ITO v. The Adichanalloor Farmers SCB Ltd. & Ors. 19.3.2019. The later decision, however, having a retrospective effect, the captioned appellate orders were recalled following the decision in Kil Kotagiri Tea & Coffee Estates Co. Ltd. v. ITAT [1988] 174 ITR 579 (Ker). 3.1 All assessees are co-operative s…

The ITO, Ward-2(3), Trivandrum vs. M/S.Mundela Serviceco-Op Bank Ltd, Trivandrum

In the result, the appeals are disposed on the afore-stated terms

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

…dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coch/2019 & Ors. ITO v. The Adichanalloor Farmers SCB Ltd. & Ors. 19.3.2019. The later decision, however, having a retrospective effect, the captioned appellate orders were recalled following the decision in Kil Kotagiri Tea & Coffee Estates Co. Ltd. v. ITAT [1988] 174 ITR 579 (Ker). 3.1 All assessees are co-operative s…

The ITO, WD-4, Kollam vs. M/S. the Adichanalloor Farmers Service Co-Op Bank Ltd, Kollam

In the result, the appeals are disposed on the afore-stated terms

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

…dated 16.9.2022 in rectification proceedings at the instance of the Revenue, for the reason that the said decision had been overruled vide it’s subsequent, larger bench decision by the Hon’ble High Court in CIT v. Poonjar Service Co-operative Bank Ltd. [2019] 414 ITR 67 (Ker)(FB) dated ITA No.134/Coch/2019 & Ors. ITO v. The Adichanalloor Farmers SCB Ltd. & Ors. 19.3.2019. The later decision, however, having a retrospective effect, the captioned appellate orders were recalled following the decision in Kil Kotagiri Tea & Coffee Estates Co. Ltd. v. ITAT [1988] 174 ITR 579 (Ker). 3.1 All assessees are co-operative s…