How many judgments cite Mavilayi Service Co-operative Bank Ltd. v. CIT?

999 judgments on BharatTax cite Mavilayi Service Co-operative Bank Ltd. v. CIT (431 ITR 1), spanning 2017 to 2026.

Which sections of the Income Tax Act does Mavilayi Service Co-operative Bank Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(4), Section 80P(2)(a)(i), Section 80P, Section 143(3), Section 250.

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 367,244 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 80P Section 143(3)Section 250 Section 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 70 section 80p(2)section 80p(2)(d)

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

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

ITA 112/COCH/2023[2017-18]Status: DisposedITAT Cochin25 Sept 2024AY 2017-18

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)

For Appellant: ------- None -------For Respondent: Smt. V. Swarnalatha, Sr. D.R

Section 2Section 22Section 250Section 56Section 80PSection 80P(2)

…t the assessee and in favour of the department that such a co-operative bank is not considered as co-operative society and therefore not eligible for section 80P deduction which admittedly got overruled in Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC). 4. We further notice that the question of co-operative bank vis-à-vis a co-operative society; for the purpose of the impugned deduction, further arose before their lordships in the Kerala State Cooperative Agricultural and Rural Development Bank [2023] 458 ITR 384 (SC) as well. The department therein was identical as in the “Mavilayi” case. W…

Income-Tax Officer Ward-2, Ahmednagar vs. Sanjivani Sahakari Pat Sanstha Maryadit Gurudwara Road, Kopargaon Dist. Ahmednagar. Pin-423601, Ahmednagar

In the result, the appeal filed by the Revenue is dismissed

ITA 1280/PUN/2024[2018-19]Status: DisposedITAT Pune24 Sept 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1280/Pun/2024 "नधा"रण वष" / Assessment Year : 2018-19

For Appellant: NoneFor Respondent: Shri Arvind Desai

Section 142(1)Section 143(3)Section 250Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…assessment order, an appeal was filed before the CIT(A)/NFAC, who vide impugned order reversed the action of the Assessing Officer, placing reliance on the decisions of Hon’ble Supreme Court in the case of Mavilayi Service Cooperative Bank Ltd. Vs. CIT (2021) 431 ITR 1 and PCIT Vs. Annasaheb Patil Mathadi kamgar Sahakari Pathpedi Ltd. (2023) 150 taxmann.com 173, thereby allowing the deduction u/s.80P(2)(d) of the Act. 4. Being aggrieved, the Revenue is in appeal before this Tribunal in the present appeal. 5. When the matter was called on, none appeared on behalf of the appellant despite service of due notice of…

Murude Sahakari Patsanstha Maryadit, Mumbai vs. ITO, Ward-22(2)(1), Mumbai

The Appeal is allowed

ITA 901/MUM/2024[2018-19]Status: DisposedITAT Mumbai24 Sept 2024AY 2018-19

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Dharan GandhiFor Respondent: Shri Himanshu Sharma

Section 143Section 143(3)Section 5Section 80Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…Hyderabad: [2017] 397 ITR 1 (SC) and the judgment of the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar). In the case of Mavilayi Services Co-operative Bank Limited Vs. CIT, Calicut: [2021] 431 ITR 1 (SC) [12/01/2021], the Hon’ble Supreme Court had, after taking into consideration the aforesaid provisions of the Act and the judgments relied upon by the Assessing Officer, held that the provisions of Section 80P(4) of the Act would not be attracted in case of interest/dividend income received by a co-operative society provided such co- operative…

Dtps Employees Co-Op Credit Society Limited Dahanu, Dahanu vs. Jurisdiction Ward 1, Palghar

ITA 1884/MUM/2024[2018-19]Status: DisposedITAT Mumbai24 Sept 2024AY 2018-19

Section 143(3)Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…Vs ITO (2010) 322 ITR 283 (SC) and the judgment of the Hon'ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar). In the case of Mavilayi Services Co- operative Bank Limited Vs. CIT, Calicut: [2021] 431 ITR 1 (SC) [12/01/2021], the Hon'ble Supreme Court had, after taking into consideration the aforesaid provisions of the Act and the judgments relied upon by the Assessing Officer/CIT(A), held that the provisions of Section 80P(4) of the Act would not be 4 ITA No. 1884/MUM/2024 Assessment Year: 2018-19 attracted in case of interest/dividend income receiv…

Ajinkyatara Sahkari Patsanstha Maryadit, Mumbai vs. Income Tax Officer, Vashi Mumbai

Appeal is allowed

ITA 1231/MUM/2024[2020-21]Status: DisposedITAT Mumbai24 Sept 2024AY 2020-21

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Sushant N. AlmeFor Respondent: Shri Himanshu Sharma

Section 143(3)Section 144Section 80PSection 80P(2)(a)

…ue raised in the present appeal, on merits, stands decided in favour of the Assessee by 5 Assessment Year: 2020-21 the judgment of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. vs. Commissioner of Income Tax, Calicut: [2021] 431 ITR 1 (SC)[12-01- 2021], wherein it was held that the provision of Section 80P(4) of the Act are attracted only in case of co-operative society holding a banking license issued by the Reserve Bank of India (RBI). It is not the case of the Revenue that the Assessee is either registered with RBI under Banking Regulation Act, 1949 and/or holds banking licen…

The Mig Co-Operative Housing Society (Bandra East) Group IV Limited, Mumbai vs. Addl/JCIT (A)-4, Mumbai

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

ITA 1215/MUM/2024[2020-21]Status: DisposedITAT Mumbai24 Sept 2024AY 2020-21

Bench: Ms. Kavitha Rajagopal, Jm & Shri Girish Agrawal, Am The Mig Co-Operative Housing Society Addl/Jcit(A)-4 1St Floor, Prestige Alpha No. 48/1 (Bandra East) Group Iv Limited D/69/675 Mig Colony, Kalanagr 48/2, Beratennagrahara Bengur, Vs. Bandra (E), Mumbai-400 051 Hosur Road, Uttarahalli Hubli, Bengaluru, Karnataka – 560 100

For Appellant: Ms. Neelam JadhavFor Respondent: Smt. Mahita Nair

Section 143(1)Section 154Section 250Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SHRI GIRISH AGRAWAL, AM The MIG Co-operative Housing Society Addl/JCIT(A)-4 1st Floor, Prestige Alpha No. 48/1 (Bandra East) Group IV Limited D/69/675 MiG Colony, Kalanagr 48/2, Beratennagrahara Bengur, Vs. Bandra (E), Mumbai-400 051 Hosur Road, Uttarahalli Hubli, Bengaluru, Karnataka – 560 100 PAN/GIR No. AABAT 3244 P (Assessee) : (Respondent) Assessee by : Ms. Neelam Jadhav Respondent by : Smt. Mahita Nair : 26.06.2024 Date of Hearing Date of Pronouncement : 24.09.2024 O R D E R Per Kavitha Rajagopal, J M: This app…

Income Tax Officer, Income Tax Mumbai vs. State Bank of India Employees M.S. Patel Co-Op Credit Society Ltd, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 3995/MUM/2023[2016-17]Status: DisposedITAT Mumbai23 Sept 2024AY 2016-17

Bench: Shri Amarjit Singh & Shri Rahul Chaudhary

For Appellant: Shri Hemant ShahFor Respondent: Smt. Smiti Samant, CIT, DR

Section 194ASection 194A(3)(V)Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 8O

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA No.3995/Mum/2023 Assessment Year: 2016-17 Income Tax Officer, Ward-26(2)(1), Mumbai VS State Bank of India Employees M.S. Patel Co-op Credit Society Ltd. 3rd Floor, State Bank Building, SBI Mumbai Main Branch, Samachar Marg, Near Horniman Circle, Fort, Mumbai-400023. PAN:AAAAS 9621 A (Respondent) (Appellant) Present for: Assessee by : Shri Hemant Shah Revenue by : Smt. Smiti Samant, CIT, DR Date of Hearing : 11.07.2024 Date of Pronouncement : 23.09.2024 ORDER P…

The Mangalorean Garden Homes Co Operative Housing Society Limited, Mumbai vs. ITO Ward 23(3)(4), Mumbai

In the result, appeal filed by the assessee is allowed in the above terms

ITA 1696/MUM/2024[2017-18]Status: DisposedITAT Mumbai20 Sept 2024AY 2017-18

Bench: Shri. Amarjit Singh & Shri. Raj Kumar Chauhanthe Mangalorean Garden Homes Vs. Ito Ward 23(3)(4) Co-Operative Housing Society Room No. 119, 1St Floor, Matru Limited Mandir, Tardeo Road, Rebello House, 132, Hill Road, Mumbai – 400007. Bandra (W), Mumbai - 400050. Pan: Aaaat3420G (Appellant) (Respondent)

Section 250Section 80P(2)(d)

…nly in a case where the taxpayer, who is a Co-operative 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…

M/S Ijmima Imitation Jewellery Market Society Limited, Mumbai vs. AO Circle 41(3)(1), Mumbai

ITA 1618/MUM/2024[2018-19]Status: DisposedITAT Mumbai19 Sept 2024AY 2018-19

Section 143(2)Section 2(19)Section 250Section 5Section 80PSection 80P(2)(d)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH MUMBAI BEFORE: SHRI BR BASKARAN, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. 1618/MUM/2024 (Assessment Year : 2018-19) M/s Ijmima Imitation Jewellery Vs. AO, Circle 41(3)(1) Kautilya Bhavan, Market Society Mumbai-400051. Limited Society Office Ijmima Complex, Raheja Metroplex, Link Road, Malad(W), Mumbai-400064. PAN/GIR No. AAAA16896F (Appellant) (Respondent) Assessee by Shri. Aajay Singh Revenue by Shri. H.M. Bhatt (Sr. DR) Date of Hearing 20/06/2024 Date of Pronouncement 19/09/2024 आदेश / ORDER PER SUNIL KUMAR SINGH (J.M): 1. This appeal…

K1104 Elaamuthur Primary Agricultural Co-Operative Credit Scoiety, Tiruppur vs. ITO, Ward 2(4), Tiruppur

In the result, appeals filed by the assessee for both the

ITA 1041/CHNY/2024[2017-18]Status: DisposedITAT Chennai18 Sept 2024AY 2017-18

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 1040 & 1041/Chny/2024 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 K 1104 Elayamuthur Primary Income Tax Officer, Agricultural Co-Operative Credit V. Ward -2(4), Society, Tirupur. Elayamuthur, Udumalpet, Tirupur – 642 154. [Pan: Aabak-3636-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. R.V. Aroonprasaad, Addl.Cit सुनवाईकीतारीख/Date Of Hearing : 23.07.2024 घोषणाकीतारीख/Date Of Pronouncement : 18.09.2024

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT

Section 143(1)Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

…o. 10245 of 2017 reported in (2017) 397 ITR 1] and applying the ratio of the Hon'ble Apex Court disallowed the deduction claimed u/s 80P. 6.1 The Hon'ble Supreme Court in the case of Mavilayi Service Co-Operative Bank Ltd Vs Commissioner Of Income Tax (2021) 431 ITR 1 (SC) dated 12.01.2021 while confirming its own judgment in the case of Citizen Co-operative Society Limited Vs Assistant Commissioner of Income Tax ((2017) 397 ITR 1 (SC)) has clarified that the expression "members" is not defined in the Income Tax Act, 1961. Since a cooperative society has to be established under the relevant Act, the expression "…

K1104 Elayamuthur Promary Agricultural Co-Operative Credit Society, Tiruppur vs. ITO, Ward 2(4), Tiruppur

In the result, appeals filed by the assessee for both the

ITA 1040/CHNY/2024[2016-17]Status: DisposedITAT Chennai18 Sept 2024AY 2016-17

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT

Section 143(1)Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

Vallapuzha Service Co-Operative Bank, Cherupulassery vs. ITO, Ward-3, Palakkad

ITA 876/COCH/2023[2015-16]Status: DisposedITAT Cochin12 Sept 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri V.P. Narayanan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 250Section 80PSection 80P(2)(a)Section 80P(4)

…here is no denial of this clinching fact either in the assessment order or in the CITA’s detailed discussion that the assessee has indeed derived its income representing interest from members only. We thus quote Mavilayi Service Co-op. Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) and Chirakkal Service Co-op. Bank Ltd. v. CIT [2016] 384 ITR 490 (Ker) to conclude that both the lower authorities have erred in law and in facts in disallowing assessee’s claim of s. 80P deduction representing interest income from its members only. The assessee succeeds on this sole issue. 4 ITA Nos.874-876 & SA Nos.218-220/Coch/2023 Vallapu…

Vallapuzha Service Co-Operative Bank, Cherupulassery vs. ITO, Ward-3, Palakkad

ITA 875/COCH/2023[2014-2015]Status: DisposedITAT Cochin12 Sept 2024AY 2014-2015

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri V.P. Narayanan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 250Section 80PSection 80P(2)(a)Section 80P(4)

Vallapuzha Service Co-Operative Bank, Palakkad vs. ITO, Ward-3, Palakkad

ITA 874/COCH/2023[2014-2015]Status: DisposedITAT Cochin12 Sept 2024AY 2014-2015

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri V.P. Narayanan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 250Section 80PSection 80P(2)(a)Section 80P(4)

Income Tax Officer, Mumbai vs. Mumbai Postal Employees Co-Operative Credit Society Ltd, Mumbai

In the result, the appeal of the Revenue is treated as allowed for statistical purposes

ITA 3738/MUM/2024[2020-21]Status: DisposedITAT Mumbai12 Sept 2024AY 2020-21

Bench: Shri Om Prakash Kant & Ms. Kavitha Rajagopalassessment Year 2020-21 Ito-25(2)(1), Mumbai Postal Employees Room No. 246, 2Nd Floor, Co-Operative Credit Society Ltd., G-Block, Kautilya Bhavan, Vs. Ground Floor, Gpo Building, Bandra Kurla Complex, Fort, Mumbai Mumbai Pan : Aaajm0032G (Appellant) (Respondent)

For Appellant: NONEFor Respondent: Smt. Mahita Nair, Sr.DR

Section 194ASection 194A(3)(v)Section 80PSection 80P(2)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND MS. KAVITHA RAJAGOPAL, JUDICIAL MEMBER Assessment Year 2020-21 ITO-25(2)(1), Mumbai Postal Employees Room No. 246, 2nd Floor, Co-Operative Credit Society Ltd., G-Block, Kautilya Bhavan, vs. Ground Floor, GPO Building, Bandra Kurla Complex, Fort, Mumbai Mumbai PAN : AAAJM0032G (Appellant) (Respondent) For Assessee : NONE For Revenue : Smt. Mahita Nair, Sr.DR Date of Hearing : 11-09-2024 Date of Pronouncement : 12-09-2024 O R D E R PER OM PRAKASH KANT, A.M : This appeal by the Revenue is directed ag…

R&De (Engrs) Employees Co-Op. Credit Society, Pune vs. ITO, Ward 7(3), Pune

In the result, the appeal of the assessee is allowed

ITA 762/PUN/2024[2021-22]Status: DisposedITAT Pune11 Sept 2024AY 2021-22

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

For Appellant: Shri A.V. IyerFor Respondent: Shri Sourabh Nayak

Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA No.762/PUN/2024 धििाारण वर्ा / Assessment Year : 2021-22 R & DE (Engrs) Employees Co-op. Credit Income Tax Officer, Society Limited, Ward – 7(3), Pune Dighi Alandi Road, Kalas, Pune-411015 Vs. PAN : AACAR6160K अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Shri A.V. Iyer Department by : Shri Sourabh Nayak Date of hearing : 08-07-2024 Date of 11-09-2024 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM…

Laburnum Mahindra Gardens Co Op Hsg Limited, Mumbai vs. Income Tax Officer - Ward 41(4)(2), Mumbai

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

ITA 3657/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Sept 2024AY 2020-21

Bench: Shri. Prashant Maharshi & Shri. Sandeep Singh Karhail

For Appellant: Ms. Vinita Nara a/w. Shri. Dharan GandhiFor Respondent: Shri. Akhatar Hussain Ansari, Sr. DR

Section 1Section 143(3)Section 2Section 234BSection 250Section 270ASection 3Section 80PSection 80P(2)(d)

…ction 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 objec…

Alaknanda Sahakari Gruharachana Sanstha Maryadit, Pune vs. Income Tax Officer, Ward 3 (1), Pune

The appeal of the assessee stands ALLOWED

ITA 1393/PUN/2024[2021-2022]Status: DisposedITAT Pune10 Sept 2024AY 2021-2022

Bench: Hon’Ble Shri G. D. Padmahshali & Hon’Ble Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No. 1393/Pun/2024 निर्धारण वषा / Assessment Year : 2021-22

For Appellant: Mr Ashish Thakurdesai [‘Ld. AR’]For Respondent: Mr BS Rajpurohit [‘Ld. DR’]

Section 143(1)Section 250Section 80PSection 80P(2)Section 80P(2)(d)

…hat the PDCC is a co-operative bank therefore the claim of the assessee is hit by provisions of s/s (4) of section 80P of the Act. While denying said deduction the Revenue strongly places its reliance on ‘Mavilayi Service Co-operative Bank Ltd. Vs CIT’ [2021, 431 ITR 1 (SC)] and on ‘PCIT Vs Totagars Co-operative Sale Society’ [2017, 83 Taxmann.com 140 (Kar)]. In nutshell the sole & substantive dispute in the present case is not over eligibility of the assessee to claim deduction u/s 80P(2)(d) of the Act but over qualification of interest in view of s/s (4) of section 80P of the Act. 7. First of all, we are mindf…

Nava Karnataka Souhard Credit Co-Operative Limited, Hospet vs. Income Tax Officer, Ward-1 & Tps, Hosapete

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 1428/BANG/2024[2018-19]Status: DisposedITAT Bangalore10 Sept 2024AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2018-19

For Appellant: Smt. Harsha J., A.RFor Respondent: Shri V. Parithivel, D.R

Section 142(1)Section 143(1)Section 143(2)Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ITA No.1428/Bang/2024 Nava Karnataka Souhard Credit Co-operative Limited, Hospet IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment Year: 2018-19 Nava Karnataka Souhard Credit Co- operative Limited 396, Shree Building ITO Hospet Ward-1 & TPS Patel Nagar IV Ward Vs. Hosapete Hospet 583 201 Karnataka Karnataka PAN NO : AACAN8113A APPELLANT RESPONDENT Appellant by : Smt. Harsha J., A.R. Respondent by : Shri V. Parithivel, D.R. Date of Hearing : 04.09.2024 Date of Pronouncement : 10.09.2024 O R D E R PER KESH…

ITO-41(2)(2) Mumbai, Mumbai vs. Jai Bholenath Co Op Credit Society Ltd, Mumbai

In the result, the appeal of the assessee is allowed

ITA 3844/MUM/2024[2020-21]Status: DisposedITAT Mumbai06 Sept 2024AY 2020-21

Bench: Ms Kavitha Rajagopal, Jm & Ms Padmavathy S, Am

For Appellant: Shri Mehul Shah, AR

Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ction 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 objec…