Mavilayi Service Co-operative Bank Ltd. v. CIT

Jeevan Vikas Nagri Sahakari Patpedhi Maryadit, Palghar vs. ITO, Cir-4, Thane

In the result, the appeal of the assessee for AY 2017-18 and AY 2018-19 are allowed

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

…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…

Income Tax Officer, Ward 4.1, Thane vs. Jeevan Vikas Nagri Sahakari Patpedhi Maryadit, Maryadt

In the result, the appeal of the assessee for AY 2017-18 and AY 2018-19 are allowed

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

…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…

Income Tax Officer, Ward-4(1), Thane vs. Jeevan Vikas Nagri Sahakari Patpedi Maryadit, Vasai

Bench: Ms Kavitha Rajagopal, Jm & Shri Ms Padmavathy S, Am, Ι.Τ.Α. No.918/Mum/2024 (Assessment Year: 2017-18) Jeevan Vikas Nagri Sahakari Patpedhi Maryadit Jeevika, First Floor, Rev. Fr. Raskina Marg, Post-Nirmal, Tal-Vasai, District-Palghar, Maharashtra-401304. Pan : Aacaj1997J Vs. Ito, Circle-4 Ashar It Park, 6Th Floor, A Wing, Road No. 16Z, Thane (W), Maharashtra-400604. Appellant) : Respondent) Ι.Τ.Α. No.2441/Mum/2024 (Assessment Year: 2017-18) Ito, Circle-4 Ashar It Park, 6Th Floor, A Wing, Road No. 16Z, Thane (W), Maharashtra-400604. Vs. Jeevan Vikas Nagri Sahakari Patpedhi Maryadit Jeevika, First Floor, Rev. Fr. Raskina Marg, Post-Nirmal, Tal-Vasai, District-Palghar, Maharashtra-401304. Pan : Aacaj1997J Appellant) : Respondent) Ι.Τ.Α. No.917/Mum/2024 (Assessment Year: 2018-19) Jeevan Vikas Nagri Sahakari Patpedhi Maryadit Jeevika, First Floor, Rev. Fr. Raskina Marg, Post-Nirmal, Tal-Vasai, District-Palghar, Maharashtra-401304. Pan : Aacaj1997J Vs. Asst. Cit, Circle-4 Ashar It Park, 6Th Floor, A Wing, Road No. 16Z, Wagle Estate, Thane (W), Maharashtra- 400604. 2

…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…

Blue Rose Industrial Premises Co-Op Society Ltd, Mumbai vs. Income Tax Officer, Ward - 42(1)(1), Mumbai

In the result, the assessee’s appeal ITA NO

Bench: SHRI PRASHANT MAHARISHI (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

…section 80P(2Xd) of the Act on the basis that the Cooperative 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…

Blue Rose Industrial Premises Co-Op Society Ltd, Mumbai vs. Income Tax Officer, Ward - 42(1)(1), Mumbai

In the result, the assessee’s appeal ITA NO

Bench: SHRI PRASHANT MAHARISHI (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

…section 80P(2Xd) of the Act on the basis that the Cooperative 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…

Cidco Employees Co-Op. Credit Society Ltd, Navi Mumbai vs. Ward 28(1)(3), Navi Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sunil Kumar Singh, Hon’Ble

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, HON’BLE JUDICIAL MEMBER I.T.A. No. 696/Mum/2024 Assessment Year: 2013-14 CIDCO Employees’ Co-op. Credit Income Tax Officer, 28(1)(3), Society Ltd. Mumbai Vs Ground Floor, CIDCO Bhavan CBD-Belapur Navi Mumbai - 400614 [PAN: AAAAC2203N] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Bhupendra Shah, A/R Revenue by : Shri R.R. Makwana, Sr. D/R सुनवाई की तारीख/Date of Hearing : 27/08/2024 घोषणा की तारीख/Date of Pronouncem…

Om Kalpavruksh Co Operative Housing Society Limited, Borivali West vs. Income Tax Officer, Kautilya Bhavan Bkc

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Singh Karhail & Smt. Renu Jauhriom Kalpavrruksh Co- V/S. Ito, बनाम Operative Housing Society Kautilya Bhava, Bkc, Ltd. Mumbai-400050 Society Office Om Kalpavruksha, Babhai Gaothan, Eksar Road, Borivali West, Mumbai-400092 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaa04209Q Appellant/अपीलार्थी .. Respondent/प्रतिवादी

…t on the basis that the Co-operative Bank is covered under the provisions of s. 80P(4) of the Act. We find that the Hon'ble Supreme Court in Mavilayi Service Co-operative Bank Ltd. & Ors. vs. CIT & Anr. (2021) 318 CTR (SC) 609: (2021) 197 DTR (SC) 361: (2021) 431 ITR 1 (SC): (2021) 279 Taxman 75 (SC): (2021) 123 taxmann.com 161 (SC) while analysing the provisions of s. 80P(4) of the Act held that s. 80P(4) is a proviso to the main provision contained in s. 80P(1) and (2) and excludes only Co-operative Banks, which are Co-operative Societies and also 11 possesses a licence from RBI to do banking business. The Hon'…

St Sebastian Homes Co-Op Society Ltd, Mumbai vs. Income Tax Officer NFAC/ Ward-23(3)(1), Mumbai

In the result, both the appeals filed by the assessee are allowed in the above terms

Bench: Ms. Padmavathy S. & Shri. Raj Kumar Chauhan & The St. Sebastian Homes Co- Vs. Income Tax Officer Operative Society Ltd. Neac/Ward-23(3)(1), Mumbai 3, Sebastian House, 42, Rebello Income Tax Office, Matru Road, Bandra (West), Mumbai – Mandir, Mumbai – 400 007. 400 050. Pan: Aaaat3419K (Appellant) (Respondent)

…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…

The St. Sebastian Homes Co-Operative Society Ltd, Mumbai Suburban vs. Income Tax Officer Ward-23(3)(4), Mumbai

In the result, both the appeals filed by the assessee are allowed in the

Bench: Ms. Padmavathy S. & Shri. Raj Kumar Chauhan

…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…