Mavilayi Service Co-operative Bank Ltd. v. CIT

431 ITR 1Supreme Court of India2021#42 most cited

What is Mavilayi Service Co-operative Bank Ltd. v. CIT authority for?

Section 80P(4) serves as a proviso to Section 80P(1) and (2), excluding only cooperative banks that are cooperative societies and possess an RBI license for banking business. Its purpose is to exclude cooperative banks operating like commercial banks that lend money to the public.

999

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2017 to 2026.

Also referred to as

Mavilayi Service Co-operative Bank Ltd. v. CIT · Section 80P(4) · Section 80P(1) · Section 80P(2) · cooperative bank deduction · RBI license · banking business · cooperative society · deduction under Section 80P(2)(d) · exclusion from 80P · 431 ITR 1

Also reported as

123 Taxmann.com 161279 Taxmann 75

Sections most often in play

Section 80P(2)(d)Section 80P(4)Section 80P(2)(a)(i)Section 80PSection 143(3)Section 250Section 2(19)Section 56

Issues it is cited on

section 22(1)(b)section 5(b)section 80p(1)section 80p(4)section 2(19)section 80p(2)(c)section 22(1)section 80p(2)(a)section 80p(2)(a)(i)section 70section 80p(2)section 80p(2)(d)

Judgments citing Mavilayi Service Co-operative Bank Ltd. v. CIT

The Central Government Staff Cooperative Thrift & Credit Society Limited, Chennai vs. Income Tax Officer, National E-Assessment Centre, Delhi

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

ITA 274/CHNY/2025[2020-2021]Status: DisposedITAT Chennai20 Mar 2025AY 2020-2021

Bench: Shri George George Kand Shri S.R. Raghunathaआयकरअपीलसं/.Ita Nos.:269, 270, 271, 272, 273 & 274/Chny/2025 िनधा"रणवष"/Assessment Years: 2012-13, 2013-14, 2016-17& 2017-18, 2018-19 & 2020-21 The Central Government Staff Income Tax Officer, Cooperative Thrift & Credit Society Vs. Non-Corporate Ward-3(5), Limited, No. 4, Noor Veerasamy Street, Chennai. Nungambakkam, Chennai 600 034. [Pan: Aabat-8783-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri R. Ganesan, C.A. ""यथ"क"ओरसे/Respondent By : Shri A. Sasikumar, Cit सुनवाईक"तारीख/Date Of Hearing : 19.03.2025 घोषणाक"तारीख/Date Of Pronouncement : 20.03.2025 आदेश/ O R D E R Per George George K: These Six Appeals Filed At The Instance Of The Assessee Are Directed Against Six Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi Dated 11.12.2024 For The Assessment Years 2012-13, 2013-14, 2017-18, 2018-19 & 2020-21 & Dated 10.12.2024 For The Assessment Year 2016-17, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’).

For Appellant: Shri R. Ganesan, C.AFor Respondent: Shri A. Sasikumar, CIT
Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…and Rural Development Bank Limited, in ITA Nos.31 to 33/Chny/2021, order dated 29.04.2022, wherein we have already considered the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Limited vs. CIT, Calicut reported in [2021] 123 Taxmann.com 161 (SC) and held as under:- 30. In view of the above facts discussed and the case-laws of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Limited vs. Commissioner of Income Tax, Calicut (supra), we are of the view that the Assessee is a Co-operative Society under the name and style as “Tamil Nadu Co-operative Stat…

The Central Government Staff Cooperative Thrift & Credit Society Limited, Chennai vs. Income Tax Officer, National E-Assessment Centre, Delhi

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

ITA 273/CHNY/2025[2018-2019]Status: DisposedITAT Chennai20 Mar 2025AY 2018-2019

Bench: Shri George George Kand Shri S.R. Raghunathaआयकरअपीलसं/.Ita Nos.:269, 270, 271, 272, 273 & 274/Chny/2025 िनधा"रणवष"/Assessment Years: 2012-13, 2013-14, 2016-17& 2017-18, 2018-19 & 2020-21 The Central Government Staff Income Tax Officer, Cooperative Thrift & Credit Society Vs. Non-Corporate Ward-3(5), Limited, No. 4, Noor Veerasamy Street, Chennai. Nungambakkam, Chennai 600 034. [Pan: Aabat-8783-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri R. Ganesan, C.A. ""यथ"क"ओरसे/Respondent By : Shri A. Sasikumar, Cit सुनवाईक"तारीख/Date Of Hearing : 19.03.2025 घोषणाक"तारीख/Date Of Pronouncement : 20.03.2025 आदेश/ O R D E R Per George George K: These Six Appeals Filed At The Instance Of The Assessee Are Directed Against Six Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi Dated 11.12.2024 For The Assessment Years 2012-13, 2013-14, 2017-18, 2018-19 & 2020-21 & Dated 10.12.2024 For The Assessment Year 2016-17, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’).

For Appellant: Shri R. Ganesan, C.AFor Respondent: Shri A. Sasikumar, CIT
Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…and Rural Development Bank Limited, in ITA Nos.31 to 33/Chny/2021, order dated 29.04.2022, wherein we have already considered the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Limited vs. CIT, Calicut reported in [2021] 123 Taxmann.com 161 (SC) and held as under:- 30. In view of the above facts discussed and the case-laws of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Limited vs. Commissioner of Income Tax, Calicut (supra), we are of the view that the Assessee is a Co-operative Society under the name and style as “Tamil Nadu Co-operative Stat…

The Central Government Staff Cooperative Thrift & Credit Society Limited, Chennai vs. Income Tax Officer, Non Corp. Ward 3(5) Che, Chennai

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

ITA 272/CHNY/2025[2017-2018]Status: DisposedITAT Chennai20 Mar 2025AY 2017-2018

Bench: Shri George George Kand Shri S.R. Raghunathaआयकरअपीलसं/.Ita Nos.:269, 270, 271, 272, 273 & 274/Chny/2025 िनधा"रणवष"/Assessment Years: 2012-13, 2013-14, 2016-17& 2017-18, 2018-19 & 2020-21 The Central Government Staff Income Tax Officer, Cooperative Thrift & Credit Society Vs. Non-Corporate Ward-3(5), Limited, No. 4, Noor Veerasamy Street, Chennai. Nungambakkam, Chennai 600 034. [Pan: Aabat-8783-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri R. Ganesan, C.A. ""यथ"क"ओरसे/Respondent By : Shri A. Sasikumar, Cit सुनवाईक"तारीख/Date Of Hearing : 19.03.2025 घोषणाक"तारीख/Date Of Pronouncement : 20.03.2025 आदेश/ O R D E R Per George George K: These Six Appeals Filed At The Instance Of The Assessee Are Directed Against Six Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi Dated 11.12.2024 For The Assessment Years 2012-13, 2013-14, 2017-18, 2018-19 & 2020-21 & Dated 10.12.2024 For The Assessment Year 2016-17, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’).

For Appellant: Shri R. Ganesan, C.AFor Respondent: Shri A. Sasikumar, CIT
Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…and Rural Development Bank Limited, in ITA Nos.31 to 33/Chny/2021, order dated 29.04.2022, wherein we have already considered the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Limited vs. CIT, Calicut reported in [2021] 123 Taxmann.com 161 (SC) and held as under:- 30. In view of the above facts discussed and the case-laws of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Limited vs. Commissioner of Income Tax, Calicut (supra), we are of the view that the Assessee is a Co-operative Society under the name and style as “Tamil Nadu Co-operative Stat…

The Central Government Staff Cooperative Thrift & Credit Society Limited, Chennai vs. Income Tax Officer, Non Corp. Ward 3(5) Che, Chennai

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

ITA 271/CHNY/2025[2016-2017]Status: DisposedITAT Chennai20 Mar 2025AY 2016-2017

Bench: Shri George George Kand Shri S.R. Raghunathaआयकरअपीलसं/.Ita Nos.:269, 270, 271, 272, 273 & 274/Chny/2025 िनधा"रणवष"/Assessment Years: 2012-13, 2013-14, 2016-17& 2017-18, 2018-19 & 2020-21 The Central Government Staff Income Tax Officer, Cooperative Thrift & Credit Society Vs. Non-Corporate Ward-3(5), Limited, No. 4, Noor Veerasamy Street, Chennai. Nungambakkam, Chennai 600 034. [Pan: Aabat-8783-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri R. Ganesan, C.A. ""यथ"क"ओरसे/Respondent By : Shri A. Sasikumar, Cit सुनवाईक"तारीख/Date Of Hearing : 19.03.2025 घोषणाक"तारीख/Date Of Pronouncement : 20.03.2025 आदेश/ O R D E R Per George George K: These Six Appeals Filed At The Instance Of The Assessee Are Directed Against Six Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi Dated 11.12.2024 For The Assessment Years 2012-13, 2013-14, 2017-18, 2018-19 & 2020-21 & Dated 10.12.2024 For The Assessment Year 2016-17, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’).

For Appellant: Shri R. Ganesan, C.AFor Respondent: Shri A. Sasikumar, CIT
Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…and Rural Development Bank Limited, in ITA Nos.31 to 33/Chny/2021, order dated 29.04.2022, wherein we have already considered the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Limited vs. CIT, Calicut reported in [2021] 123 Taxmann.com 161 (SC) and held as under:- 30. In view of the above facts discussed and the case-laws of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Limited vs. Commissioner of Income Tax, Calicut (supra), we are of the view that the Assessee is a Co-operative Society under the name and style as “Tamil Nadu Co-operative Stat…

The Central Government Staff Cooperative Thrift & Credit Society Limited, Chennai vs. Income Tax Officer, National Faceless Assessment Centre, Delhi

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

ITA 270/CHNY/2025[2013-2014]Status: DisposedITAT Chennai20 Mar 2025AY 2013-2014

Bench: Shri George George Kand Shri S.R. Raghunathaआयकरअपीलसं/.Ita Nos.:269, 270, 271, 272, 273 & 274/Chny/2025 िनधा"रणवष"/Assessment Years: 2012-13, 2013-14, 2016-17& 2017-18, 2018-19 & 2020-21 The Central Government Staff Income Tax Officer, Cooperative Thrift & Credit Society Vs. Non-Corporate Ward-3(5), Limited, No. 4, Noor Veerasamy Street, Chennai. Nungambakkam, Chennai 600 034. [Pan: Aabat-8783-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri R. Ganesan, C.A. ""यथ"क"ओरसे/Respondent By : Shri A. Sasikumar, Cit सुनवाईक"तारीख/Date Of Hearing : 19.03.2025 घोषणाक"तारीख/Date Of Pronouncement : 20.03.2025 आदेश/ O R D E R Per George George K: These Six Appeals Filed At The Instance Of The Assessee Are Directed Against Six Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi Dated 11.12.2024 For The Assessment Years 2012-13, 2013-14, 2017-18, 2018-19 & 2020-21 & Dated 10.12.2024 For The Assessment Year 2016-17, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’).

For Appellant: Shri R. Ganesan, C.AFor Respondent: Shri A. Sasikumar, CIT
Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…and Rural Development Bank Limited, in ITA Nos.31 to 33/Chny/2021, order dated 29.04.2022, wherein we have already considered the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Limited vs. CIT, Calicut reported in [2021] 123 Taxmann.com 161 (SC) and held as under:- 30. In view of the above facts discussed and the case-laws of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Limited vs. Commissioner of Income Tax, Calicut (supra), we are of the view that the Assessee is a Co-operative Society under the name and style as “Tamil Nadu Co-operative Stat…

The Central Government Staff Cooperative Thrift & Credit Society Limited, Chennai vs. Income Tax Officer, Non Corp. Ward 3(5) Che, Chennai

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

ITA 269/CHNY/2025[2012-2013]Status: DisposedITAT Chennai20 Mar 2025AY 2012-2013

Bench: Shri George George Kand Shri S.R. Raghunathaआयकरअपीलसं/.Ita Nos.:269, 270, 271, 272, 273 & 274/Chny/2025 िनधा"रणवष"/Assessment Years: 2012-13, 2013-14, 2016-17& 2017-18, 2018-19 & 2020-21 The Central Government Staff Income Tax Officer, Cooperative Thrift & Credit Society Vs. Non-Corporate Ward-3(5), Limited, No. 4, Noor Veerasamy Street, Chennai. Nungambakkam, Chennai 600 034. [Pan: Aabat-8783-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri R. Ganesan, C.A. ""यथ"क"ओरसे/Respondent By : Shri A. Sasikumar, Cit सुनवाईक"तारीख/Date Of Hearing : 19.03.2025 घोषणाक"तारीख/Date Of Pronouncement : 20.03.2025 आदेश/ O R D E R Per George George K: These Six Appeals Filed At The Instance Of The Assessee Are Directed Against Six Separate Orders Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi Dated 11.12.2024 For The Assessment Years 2012-13, 2013-14, 2017-18, 2018-19 & 2020-21 & Dated 10.12.2024 For The Assessment Year 2016-17, Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Called ‘The Act’).

For Appellant: Shri R. Ganesan, C.AFor Respondent: Shri A. Sasikumar, CIT
Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…and Rural Development Bank Limited, in ITA Nos.31 to 33/Chny/2021, order dated 29.04.2022, wherein we have already considered the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Limited vs. CIT, Calicut reported in [2021] 123 Taxmann.com 161 (SC) and held as under:- 30. In view of the above facts discussed and the case-laws of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Limited vs. Commissioner of Income Tax, Calicut (supra), we are of the view that the Assessee is a Co-operative Society under the name and style as “Tamil Nadu Co-operative Stat…

Ekta Sahakari Patpedhi Maryadit, Virar vs. Income Tax Officer, Assessment Unit, New Delhi

In the result, both the above appeals are allowed

ITA 106/MUM/2025[2020-21]Status: DisposedITAT Mumbai10 Mar 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Bhupendra Shah, ARFor Respondent: Shri Manish Ajudiya (Sr. DR)
Section 143Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…ection 80P(2)(d) of the Act on the basis that the Co-operative Bank is covered under the provisions of section 80P(4) of the Act. We find that the Hon'ble Supreme Court in Mavilayi Service Co-operative Bank Ltd. v. CIT (2021] 123 taxmann.com 161/279 Taxman 75/431 ITR 1 while analysing the provisions of section 80P(4) of the Act held that section 80P(4) is a proviso to the main provision contained in section 80P(1) and (2) and excludes only Co- operative Banks, which are Co-operative Societies and also possesses a licence from RBI to do banking business. The Hon'ble Supreme Court further held that the limited obje…

Ekta Sahakari Patpedhi Maryadit, Virar vs. Income Tax Officer, Assessment Unit, New Delhi

In the result, both the above appeals are allowed

ITA 105/MUM/2025[2018-19]Status: DisposedITAT Mumbai10 Mar 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Bhupendra Shah, ARFor Respondent: Shri Manish Ajudiya (Sr. DR)
Section 143Section 143(3)Section 234ASection 270ASection 80P(2)(a)Section 80P(2)(d)

…ection 80P(2)(d) of the Act on the basis that the Co-operative Bank is covered under the provisions of section 80P(4) of the Act. We find that the Hon'ble Supreme Court in Mavilayi Service Co-operative Bank Ltd. v. CIT (2021] 123 taxmann.com 161/279 Taxman 75/431 ITR 1 while analysing the provisions of section 80P(4) of the Act held that section 80P(4) is a proviso to the main provision contained in section 80P(1) and (2) and excludes only Co- operative Banks, which are Co-operative Societies and also possesses a licence from RBI to do banking business. The Hon'ble Supreme Court further held that the limited obje…

Shree Ambika Gramin Bigarsheti Sahakari Patsanstha Maryadit, Pune vs. ITO Ward 10(1), Pune

In the result, appeal of the assessee is allowed for statistical purpose

ITA 1329/PUN/2024[2021-22]Status: DisposedITAT Pune04 Mar 2025AY 2021-22

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1329/Pun/2024 िनधा"रण वष" / Assessment Year: 2021-22 Shree Ambika Gramin V The Income Tax Officer, Bigarsheti Sahakri Patsanstha S Ward-10(1), Pune. Maryadit, Khodad, Junnar, Pune – 410504. Pan: Aadas2545Q Appellant/ Assessee Respondent / Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Ramnath P Murkunde – Dr Date Of Hearing 19/02/2025 Date Of Pronouncement 04/03/2025 आदेश/ Order Per Dr. Manish Borad, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] For Assessment Year 2021-22 Dated 08.03.2024 Passed U/Sec.250 Of The Income Tax Act, 1961. 1.1 Registry Informed That There Is A Delay 35 Days. We Have Carefully Gone Through The Affidavit & Notice That On Account Of

Section 143(1)Section 143(1)(A)Section 143(1)(a)Section 250Section 80P(2)(d)

…terest income earned from fixed deposits with co-operative banks. 5. The learned CIT(A) erred in law and on facts in not appreciating that supreme court in the case of The Mavilayi service Co-operative Bank Ltd. and ORS. Vs. Commissioner of Income Tax (2021) 431 ITR 1(SC) ITA No.1329/PUN/2024 [A] has held that interest income earned by a Co-operative society from a Co-operative bank is entitled for deduction u/s 80P(2)(d) of ITA, 1961. 6. The learned CIT(A) erred in law and on facts in not appreciating that the interest on deposits with co-operative bank, are covered under the concept of "mutuality" and hence…

Basavan Bagewadi Taluka Primary Teachers Co-Operative Society Limited, Bijapur vs. Income Tax Officer, Ward-1, & Tps, Bijapur

ITA 869/BANG/2024[2020-21]Status: DisposedITAT Bangalore04 Mar 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri G.S. Budyal, A.RFor Respondent: Sri Venkatesh V., D.R
Section 143(2)Section 143(3)Section 250Section 80P(2)(a)Section 80P(2)(d)

…kup of investment or the exigencies by which it was required statutorily to put the surplus money as investment with co-operative banks. The Ld. CIT(A)/NFAC following the judgement of the Hon’ble Apex court in the case Mavilayi Service Co-operative Bank Ltd. (431 ITR 1) (SC) as well as Hon’ble High Court of Karnataka in the case of Principal CIT Vs. Totgars Co-operative Sale Society (2017) (395 ITR 611) held that the assessee is not entitled to deduction either u/s 80P(2)(a)(i) of the Act or u/s 80P(2)(d) of the Act in respect of interest income from Co-operative Banks/scheduled banks and directed the AO to consi…

Basavan Bagewadi Taluka Primary Teachers Co-Operative Society Limited, Bijapur vs. Income Tax Officer, Ward-1 & Tps, Bijapur

ITA 868/BANG/2024[2018-19]Status: DisposedITAT Bangalore04 Mar 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri G.S. Budyal, A.RFor Respondent: Sri Venkatesh V., D.R
Section 143(2)Section 143(3)Section 250Section 80P(2)(a)Section 80P(2)(d)

…kup of investment or the exigencies by which it was required statutorily to put the surplus money as investment with co-operative banks. The Ld. CIT(A)/NFAC following the judgement of the Hon’ble Apex court in the case Mavilayi Service Co-operative Bank Ltd. (431 ITR 1) (SC) as well as Hon’ble High Court of Karnataka in the case of Principal CIT Vs. Totgars Co-operative Sale Society (2017) (395 ITR 611) held that the assessee is not entitled to deduction either u/s 80P(2)(a)(i) of the Act or u/s 80P(2)(d) of the Act in respect of interest income from Co-operative Banks/scheduled banks and directed the AO to consi…

Kiran Apartments Cooperative Housnig Society Ltd, Mumbai vs. Income Tax Officer Ward(23)(1)(1), Mumbai

ITA 6492/MUM/2024[2021-22]Status: DisposedITAT Mumbai03 Mar 2025AY 2021-22

Bench: Smt. Beena Pillai (Jm) & Shri Omkareshwar Chidara (Am) Kiran Apartments Cooperative Ito Ward 23(1)(1) Housing Society Ltd. Piramal Chambers Plot No. 109, 24Th Road Vs. Lalbaug, Parel Kiran Apartments, Bandra-W Mumbai Mumbai-400 050. Pan : Aaaak5780E Appellant Respondent

For Appellant: Shri Nihar Ranjan SamalFor Respondent: Shri Roshan More
Section 80P(2)(d)Section 90P(2)(d)

…de with the Cooperative Banks. The Ld. AR of the appellant has relied on several catena of decisions of various Benches of Tribunals and finally pleaded that the issue is settled by Hon'ble Supreme Court in the case of Mavilayi Services Cooperative Bank Ltd. (431 ITR 1)(SC), where it was held that the appellant society is entitled for deduction u/s. 80P(2)(d) of the Act. The Ld. AR of the appellant has stated that Ld. CIT(A) placed reliance of Totgar’s Society of Hon'ble Supreme Court (supra), but the case was on different facts. 5. The Ld. DR has relied on the orders of lower authorities. 6. After hearing riva…

Nashik District Primary Teachers Co-Op Credit Society Ltd, Nashik vs. ITO Ward 1(1), Nashik

In the result, the appeal of the assessee in ITA No

ITA 2071/PUN/2024[2021-22]Status: DisposedITAT Pune28 Feb 2025AY 2021-22

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.2070 & 2071/Pun/2024 निर्धारण वर्ष / Assessment Years : 2018-19 & 2021-22 Nashik District Primary Teachers Co-Op Credit Society Ltd., Saraswati Complex, Malviya Chowk, Panchavatikaranja, Nashik-422002 Vs. Ito, Ward – 1(1), Nashik Pan: Aaaan2859D अपीलार्थी /Appellant प्रत्यर्थी / Respondent Assessee By : Shrisanket Joshi Department By : Shriramnath P. Murkunde Date Of Hearing : 31-12-2024 Date Of Pronouncement : 28-02-2025 आदेश / Order Per Astha Chandra, Jm : These Two Appeals Filed By The Assessee Is Directed Against The Two Separate Orders Both Dated 22.08.2024 Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi [“Cit(A)”] Pertaining To Assessment Year (“Ays”) 2018- 19 & 2021-22. Since The Issues Involved Are Identical The Same Were Heard Together & Are Disposed Of By This Common Order.

For Appellant: ShriSanket JoshiFor Respondent: ShriRamnath P. Murkunde
Section 143(1)Section 144Section 80PSection 80P(2)(a)

…आयकर अपीलीय अधिकरण “ए”न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.2070 & 2071/PUN/2024 निर्धारण वर्ष / Assessment Years : 2018-19 & 2021-22 Nashik District Primary Teachers Co-op Credit Society Ltd., Saraswati Complex, Malviya Chowk, PanchavatiKaranja, Nashik-422002 Vs. ITO, Ward – 1(1), Nashik PAN: AAAAN2859D अपीलार्थी /Appellant प्रत्यर्थी / Respondent Assessee by : ShriSanket Joshi Department by : ShriRamnath P. Murkunde Date of hearing : 31-12-2024 Date of Pronouncement : 28-02-20…

Nashik District Primary Teachers Co-Op Credit Society Ltd, Nashik vs. ITO Ward 1(1), Nashik

In the result, the appeal of the assessee in ITA No

ITA 2070/PUN/2024[2018-19]Status: DisposedITAT Pune28 Feb 2025AY 2018-19

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

For Appellant: ShriSanket JoshiFor Respondent: ShriRamnath P. Murkunde
Section 143(1)Section 144Section 80PSection 80P(2)(a)

…आयकर अपीलीय अधिकरण “ए”न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.2070 & 2071/PUN/2024 धििाारण वर्ा / Assessment Years : 2018-19 & 2021-22 Nashik District Primary Teachers ITO, Ward – 1(1), Co-op Credit Society Ltd., Nashik Saraswati Complex, Malviya Chowk, Vs. PanchavatiKaranja, Nashik-422002 PAN : AAAAN2859D अपीलार्थी /Appellant प्रत्यर्थी / Respondent Assessee by : ShriSanket Joshi Department by : ShriRamnath P. Murkunde Date of hearing : 31-12-2024 Date of 28-02-2025 Pronouncem…

Raj Legacy 1 Co Operative Soc Ltd, Mumbai vs. ITO, Ward 41(2)(4), Mumbai

In the result, the appeals of the assessee are allowed

ITA 256/MUM/2025[2018-19]Status: DisposedITAT Mumbai28 Feb 2025AY 2018-19

Bench: Smt. Beena Pillai & Smt. Renu Jauhri

For Appellant: Revenue byFor Respondent: Date of Hearing
Section 143(3)Section 250Section 80Section 80P(2)(d)Section 80P(4)

…only in a case where the taxpayer, who is a Co-operauve Bank, claims a deduction under section 80P of the Act which is not the facts of the present case. We find that the Hon'ble Supreme Court in Mavilayi Service Co-operative Bank Ltd. vs CIT, Calicut, [2021] 431 ITR 1 (SC) while analysing the provisions of section 80P(4) of the Act held that section 80P(4) is a proviso to the main provision contained in section 80P(1) and (2) and excludes only Co-operative Banks, which are Co- operative Societies and also possesses a licence from RBI to do banking business. The Hon'ble Supreme Court further held that the limited…

Raj Legacy 1 Co -Operative Hsg . Soc. Ltd, Mumbai vs. ITO, Ward-41(2)(4), Mumbai

In the result, the appeals of the assessee are allowed

ITA 255/MUM/2025[2017-18]Status: DisposedITAT Mumbai28 Feb 2025AY 2017-18

Bench: Smt. Beena Pillai & Smt. Renu Jauhri

For Appellant: Shri Dhanshyam PatelFor Respondent: Shri Asif Karmali (Sr. DR)
Section 143(3)Section 250Section 80Section 80PSection 80P(2)(d)Section 80P(4)

…only in a case where the taxpayer, who is a Co-operauve Bank, claims a deduction under section 80P of the Act which is not the facts of the present case. We find that the Hon'ble Supreme Court in Mavilayi Service Co-operative Bank Ltd. vs CIT, Calicut, [2021] 431 ITR 1 (SC) while analysing the provisions of section 80P(4) of the Act held that section 80P(4) is a proviso to the main provision contained in section 80P(1) and (2) and/excludes only Co-operative Banks, which are Co- operative Societies and also possesses a licence from RBI to do banking business. The Hon'ble Supreme Court further held that the limited…

Raj Legacy 1 Co Operative Hsg Soc. Ltd, Mumbai vs. ITO Ward 41(2)(4), Mumbai

In the result, the appeals of the assessee are allowed

ITA 254/MUM/2025[2016-17]Status: DisposedITAT Mumbai28 Feb 2025AY 2016-17

Bench: Smt. Beena Pillai & Smt. Renu Jauhri

For Appellant: Shri Dhanshyam PatelFor Respondent: Shri Asif Karmali (Sr. DR)
Section 143(3)Section 250Section 80Section 80PSection 80P(2)(d)Section 80P(4)

…only in a case where the taxpayer, who is a Co-operauve Bank, claims a deduction under section 80P of the Act which is not the facts of the present case. We find that the Hon'ble Supreme Court in Mavilayi Service Co-operative Bank Ltd. vs CIT, Calicut, [2021] 431 ITR 1 (SC) while analysing the provisions of section 80P(4) of the Act held that section 80P(4) is a proviso to the main provision contained in section 80P(1) and (2) and/excludes only Co-operative Banks, which are Co- operative Societies and also possesses a licence from RBI to do banking business. The Hon'ble Supreme Court further held that the limited…

Sm 55 Medc Executive Employee Co-Op Thrift and Credit Society, Salem vs. CIT(A), Chennai

In the result, appeal filed by the assessee is allowed

ITA 2238/CHNY/2024[2020-21]Status: DisposedITAT Chennai26 Feb 2025AY 2020-21

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.2238/Chny/2024 िनधा"रण वष"/Assessment Year: 2020-21 V. M/S. Sm 55 Medc Executive The Income Tax Officer, Employee Co-Op Thrift & Credit Ward 1(6), Society, Salem 19/88-F, Central Office Road, Eb Central Office Area, Salem – 636 401. [Pan: Aaras 2505A]

For Appellant: Shri S. Senthil Kumar, AdvocateFor Respondent: Smt. D. Babitha, JCIT
Section 80PSection 80P(2)Section 80P(2)(d)

…from the RBI to do banking business with the public, the deduction cannot be denied; and for such a proposition, we rely on the decision of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. & Others. V. CIT reported in [2021] 431 ITR 1 (SC). Therefore, we hold that unless the assessee earns SM55 MEDC Executive Employee Co-op Thrift & Credit Society :: 6 :: interest income from a Co-operative Bank which possess RBI license, the assessee cannot be denied the deduction u/s.80P of the Act, which is a benevolent provision enacted by the Parliament to encourage and promote the cooper…

Income Tax Officer Ward-2, Khamgaon vs. Maharashtra Urban Co-Operative Credit Society Ltd, Mehkar

In the result, appeals for A

ITA 637/NAG/2024[2022]Status: DisposedITAT Nagpur25 Feb 2025

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: NoneFor Respondent: Shri Sandipkumar Salunke
Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.635, 636 and 637/Nag./2024 (Assessment Year : 2018–19, 20-21 and 2022-23) Income Tax Officer ……………. Appellant Ward–2, Khamgaon v/s Maharashtra Urban Co–operative Credit Society Ltd. ……………. Respondent Shakti Sanstha, Market Road Mehkar 443 301 PAN – AAAAM5777D Assessee by : None Revenue by : Shri Sandipkumar Salunke Date of Hearing – 03/02/2025 Date of Order – 25/02/2025 O R D E R PER V. DURGA RAO, J.M. These appeals by the Revenue are directed against the impugned o…

Income Tax Officer Ward -2, Khamgaon vs. Maharashtra Urban Co-Operative Credit Society Ltd, Mehkar

In the result, appeals for A

ITA 636/NAG/2024[2020]Status: DisposedITAT Nagpur25 Feb 2025

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: NoneFor Respondent: Shri Sandipkumar Salunke
Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.635, 636 and 637/Nag./2024 (Assessment Year : 2018–19, 20-21 and 2022-23) Income Tax Officer ……………. Appellant Ward–2, Khamgaon v/s Maharashtra Urban Co–operative Credit Society Ltd. ……………. Respondent Shakti Sanstha, Market Road Mehkar 443 301 PAN – AAAAM5777D Assessee by : None Revenue by : Shri Sandipkumar Salunke Date of Hearing – 03/02/2025 Date of Order – 25/02/2025 O R D E R PER V. DURGA RAO, J.M. These appeals by the Revenue are directed against the impugned o…