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

Shri Hariom Nagari Sahakari Patsanstha Maryadit, Nashik vs. Income Tax Officer Ward-1(1), Nashik

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

ITA 679/PUN/2024[2018-19]Status: DisposedITAT Pune03 Jun 2024AY 2018-19

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.679 & 680/Pun/2024 "नधा"रण वष" Assessment Years : 2018-19 & 2020-21

For Respondent: Shri Shanshank Deogadkar

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.679 & 680/PUN/2024 "नधा"रण वष" Assessment Years : 2018-19 & 2020-21 Shri Hariom Nagari Sahakari Vs. ITO, Ward-1(1), Patsanstha Maryadit, Nashik 1, Malegaon Road, Satana, Nashik 423 301 Maharashtra PAN : AAAJH0183R Appellant Respondent Assessee by Shri Pramod Shingte : Revenue by : Shri Shanshank Deogadkar Date of hearing : 03.06.2024 Date of pronouncement : 03.06.2024 आदेश / ORDER PER BENCH: These two appeals filed by the assessee are direct…

Shree Kalika Devi Nagari Sahakari Pat Sanstha Maryadit Karad, Karad vs. ITO Ward 1, Satara

ITA 419/PUN/2024[2018-19]Status: DisposedITAT Pune03 Jun 2024AY 2018-19

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपील सं. / Ita No.419/Pun/2024 निर्धारण वर्ा / Assessment Year : 2018-19 Shree Kalika Devi Nagari Sahakari Pathsanstha Maryadit 6/1, Kasar Galli, Guruwar Peth, Karad Ta.: Karad, Dist.: Satara-415110 Pan: Aaaak3735D . . . . . . . अपीलार्थी / Appellant बिधम / V/S. Income Tax Officer Ward-1, Satara . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Kishor Phadke [‘Ld. Ar’] Revenue By : Mr Ramnath Murkunde [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 30/05/2024 घोषणा की तारीख / Date Of Pronouncement : 03/06/2024 आदेश / Order Per G. D. Padmahshali, Am; This Appeal Is Filed U/S 253(1)(A) Of The Income Tax Act [‘The Act’] By The Assessee Challenging The Order Of National Faceless Appeal Centre, Delhi [‘Nfac/Cit(A)’] Din & Order Itba/Nfac/S/250/2023-24/1059407077(1) Dt. 05/01/2024 Passed U/S 250 Of The Act Which In Turn Arisen Out Of Order Of Assessment Dt. 15/06/2021 Passed U/S 143(3) Of The Act.

For Appellant: Mr Kishor Phadke [‘Ld. AR’]For Respondent: Mr Ramnath Murkunde [‘Ld. DR’]

Section 143(2)Section 143(3)Section 249(2)Section 250Section 250(6)Section 251Section 251(1)(a)Section 253(1)(a)Section 80P(2)

…inancial institutions, the Ld. AO denied the deduction claimed u/s 80P(2) of the Act by placing reliance on Hon’ble Supreme Court decisions in ‘Totgars Co-op. Sales Society Vs ITO’ [2010, 188 Taxman 282 (SC)], ‘Mavilayi Service Co-op. Bank Ltd. Vs CIT’ [2021, 431 ITR 1 (SC)], and ‘CoC(import) Mumbai Vs Dilip Kumar & Company’ [2018, 9 SCC 1 (SC)]. 2.2 When aforestated denial of 80P(2) deduction is assailed in an appeal before first appellate authority, the Ld. NFAC accorded as many as six clear opportunities of hearing from dt. 06/04/2024 to 07/12/2023 which however remained unattended & un-responded. In absence o…

Shree Gudaleshwar Gramin Bigar Sheti Sah Pat Sanshta Maryadit, Gudal, Radhanagari, Kolhapur vs. The Income Tax Officer, Ward 1 (1), Kolhapur

Appeal is allowed in above terms

ITA 406/PUN/2024[A.Y. 2020-21]Status: DisposedITAT Pune03 Jun 2024

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

For Appellant: Shri A.S. NaikFor Respondent: Shri Ramnath P. Murkunde

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE [THROUGH VIRTUAL HEARING] BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.406/PUN./2024 [E-APPEAL] Assessment Year 2020-2021 Shree Gudaleshwar Gramin Bigar Sheti Sah The Income Tax Officer, Pat Sanstha Maryadit, Ward-1(1), Income Tax Office, At Gudal, Tal- vs. Tarabai Park, KOLHAPUR. Radhanagari, Dist- PIN – 416 003. Kolhapur. Maharashtra. Maharashtra. PIN – 416 211 PAN AAALS0544D (Appellant) (Respondent) For Assessee : Shri A.S. Naik For Revenue : Shri Ramnath P. Murkunde Date of Hearing : 03.06.202…

Kanifnath Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Ahmednagar vs. Income Tax Officer Ward 2, Ahmednagar

ITA 392/PUN/2024[2018-19]Status: DisposedITAT Pune03 Jun 2024AY 2018-19

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपील सं. / Ita No.392/Pun/2024 निर्धारण वर्ा / Assessment Year : 2018-19 Kanifnath Gramin Bigar Sheti Sahakari Pathsanstha Maryadit At Post: Maldad, Tal.:Sangamner, Dist.: Ahmednagar-422608 Pan: Abbak1395E . . . . . . . अपीलार्थी / Appellant बिधम / V/S. Income Tax Officer Ward-2, Ahmednagar . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Pramod Shingte [‘Ld. Ar’] Revenue By : Mr Ramnath Murkunde [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 30/05/2024 घोषणा की तारीख / Date Of Pronouncement : 03/06/2024

For Appellant: Mr Pramod Shingte [‘Ld. AR’]For Respondent: Mr Ramnath Murkunde [‘Ld. DR’]

Section 143(2)Section 143(3)Section 250Section 250(6)Section 251Section 251(1)(a)Section 253(1)(a)Section 80P(2)

…s 80P(2) of the Act by placing reliance on Hon’ble Supreme Court decisions in ‘Totgars Co-op. Sales Society Vs ITO’ [2010, 188 Taxman 282 (SC)], ‘Southern Technologies Ltd. Vs JCIT’ [2010 167 Taxman 346 (SC)], ‘Mavilayi Service Co-op. Bank Ltd. Vs CIT’ [2021, 431 ITR 1 (SC)], ‘Citizen Co-op. Society Ltd. Vs ACIT’ [2017, 84 Taxmann.com 114 (SC)] and ‘CoC(import) Mumbai Vs Dilip Kumar & Company’ [2018, 9 SCC 1 (SC)]. 2.2 When aforestated denial of 80P(2) deduction is assailed in an appeal before first appellate authority, the Ld. NFAC accorded as many as three clear opportunities of hearing vide notices dt. 06/10/…

The Indcoserve, Nilgiris vs. ITO Ward 1 Ooty, Ooty

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

ITA 102/CHNY/2024[2020-21]Status: DisposedITAT Chennai03 Jun 2024AY 2020-21

Bench: Shri Mahavir Singhand Shri Jagadish

For Appellant: Ms. N.V. Lakshmi, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT

Section 143(3)Section 80P(2)(d)

…ank to the extent of Rs.5,82,164/-. This was not confronted by the ld. Senior Departmental Representative. Hence, this issue was squarely covered by the judgment of Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Ltd., & Ors. Vs. CIT, 123 Taxmann.com 161 (SC). Similar view has been taken by the Tribunal in the case of Tamilnadu Co-operative State Agriculture and Rural Development Bank Limited in ITA Nos.31 to 33/CHNY/2021 vide order dated 29.04.2022 following the decision of Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd., (supra) and the Hon’ble Madras High C…

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

ITA 226/COCH/2023[2012-13]Status: DisposedITAT Cochin31 May 2024AY 2012-13

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri M. Ramdas, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 147Section 80PSection 80P(1)Section 80P(2)(a)Section 80P(2)(d)

…i.e., for AYs. 2009-10 & 2014-15, vide it’s order dated 19.5.2023 (ITA Nos. 32 & 33/Coch/ 2023/copy on record), be restored back to the file of the AO for a consideration afresh in light of the decision in Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC); the same having reversed the decision by the Hon'ble High Court. No objection thereto was raised by Smt. Devi, the ld. Sr. DR. 4. We have heard the parties, and perused the material on record. 4.1 We find the assessee’s plea as valid inasmuch as the first appellate authority, whose order is after the decision by the Hon'ble Apex Court in Mavi…

State Bank of India, Thalassery( Erstwhile State Bank of Travancore), Kannur vs. ITO (TDS), Kannur

In the result, the assessee’s appeal is allowed on the aforesaid terms

ITA 926/COCH/2022[2014-15]Status: DisposedITAT Cochin31 May 2024AY 2014-15

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopalstate Bank Of India (Erstwhile Sbt) Income Tax Officer-Tds Thalassery Branch Aayakar Bhavan Gundert Road Vs. Konnothumchal Thalassery 670101 Chovva P.O., Kannur 670006 [Pan: Aaacs8577K] (Appellant) (Respondent)

For Appellant: Shri A. Kumar, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 10(5)Section 12Section 192Section 201Section 286

…e sides. The question of the taxability of LTC was not in issue. A decision is an authority for what it actually decides (viz. Goodyear India Ltd. vs. State of Haryana & Anr. [1991] 188 ITR 402 (SC); Mavilayi Service Cooperative Bank Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC)). 4.2 The order of the Hon'ble High Court is thus in the nature of a compromise arrangement, arrived at under it’s aegis. Nothing more and, nothing less. There is no estoppel against law, which in the instant case, the Income Tax Law, is a public law. Rather, even if therefore the Hon'ble Court had expressed a view – which we reiterate it has…

M/S. Vasavi Credit Co-Operative Society Limited, Raichur vs. Income-Tax Officer, Ward-1, Raichur

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 350/BANG/2024[2020-21]Status: DisposedITAT Bangalore31 May 2024AY 2020-21

Bench: Smt Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2020-21

For Appellant: Smt. Sunaina Bhatia, AdvocateFor Respondent: Shri Ganesh R Ghale, Standing

Section 80P(2)(a)

…at assessee has also earned interest out of deposits made in scheduled banks. She submitted that the issues has to be analysed in the light of the decisions placed by Hon’ble Supreme Court in case of Mavilayi Service Co- operative Bank Ltd. v. CIT reported in 431 ITR 1 and Kerala State Co- operative Agricultural and Rural Development Bank Ltd. KSCARDB vs. The Assessing Officer, Trivandrum & Ors. in Civil Appeal Nos. 10069 of 2016 dated 14.09.2023. Page 3 Kerala State Co-operative Agricultural and Rural Development Bank Ltd. vs. AO reported in (2023) 154 taxmann.com 305 6. She thus prayed that the appeal may be r…

Yersova Primerose Co-Op Housing Society Limited, Mumbai vs. Income Tax Officer-25(1)(4), Mumbai

In the result, the appeal filed by the assessee stands allowed

ITA 363/MUM/2024[2018-19]Status: DisposedITAT Mumbai31 May 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhariassessment Year: 2018-19

For Appellant: Shri Anil Tiwari, A.RFor Respondent: Shri Nagnath Pasale, D.R

Section 143(1)Section 154Section 234ASection 250Section 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…

Kushalnagar Co-Operative Bank Limited, Kodagu vs. Income Tax Officer, Ward-1, Madikeri

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

ITA 715/BANG/2024[2017-18]Status: DisposedITAT Bangalore30 May 2024AY 2017-18

Bench: Shri Chandra Poojari & Shri Soundararajan K.Assessment Year: 2017-18

For Appellant: Sri Ravishankar, A.RFor Respondent: Shri V. Parithivel, D.R

Section 234ASection 250Section 80PSection 80P(2)(a)

…essee. Against the said ex-parte order, the assessee is in appeal before us. 4. The ld. A.R. submitted that the issue is covered by the judgement of Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors. Vs. CIT & Ors. reported in 431 ITR 1 and therefore, contended that the class of members whether it is regular or nominal members will not disentitle the assessee from claiming deduction u/s 80P of the Act. The ld. A.R further contended that the assessee is not well versed in operating the system and therefore they have not seen the notices issued by the NFAC and prayed one opportunity…

Kumbra Vyavasaya Seva Sahakary Bank Limited, Puttur vs. Income Tax Office, Ward-1, Puttur

ITA 513/BANG/2024[2017-18]Status: DisposedITAT Bangalore29 May 2024AY 2017-18

Bench: Smt Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri Srinath S, JCIT –DR

Section 143(2)Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…interest / dividend earned from investments made in other co-operative societies / co-operative banks. In support of the claim, the assessee relied on the decision of Hon'ble Supreme Court in case of Mavilayi Service Co-operative Bank Ltd. ν. CIT reported in 431 ITR 1 and other decisions of this Tribunal. The Ld.CIT(A) however relying on the decision of Hon'ble Supreme Court in case of Citizen Co-operative Society Ltd. vs. ACIT reported in (2017) 84 taxmann.com 114 disallowed the claim of assessee Page 5 ITA No. 513/Bang/2024 u/s. 80P(2)(a)(i) / 80P(2)(d) of the act for both the years under consideration. 2.4 Th…

Income Tax Officer, Ward 3(1) Kalyan, Kalyan vs. Kanchangauri Mahila Sahakari Patpedhi Maryadit, Dombivli East

In the result, the appeal is dismissed

ITA 4692/MUM/2023[2017-18]Status: DisposedITAT Mumbai29 May 2024AY 2017-18

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

For Appellant: Shri V. G. Ginde, A.RFor Respondent: Shri P.D. Chougule (Addl. CIT), Sr

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

…CIT, Calicut, in their order dt: 12.01.2021 has categorically decided that interest earned from "nominal members" by a co-operative society would also qualify for deduction u/s. 80P(2)(a)(i) of the I.T.Act. [vide: para-46, 47, (2021) 123 taxmann.com 161 (SC)/ 431 ITR 1 (SC)]. b. On perusal of the assessment order under consideration it appears that there is no change in the factual matrix of the case from what was there in the Assessment Years: 12- 13, 13-14 and 14-15. It is also not in the knowledge of the undersigned that the Tribunal orders as mentioned herein before have been overruled by any higher appellate…

Income Tax Officer, Ward 10(1), Pune, Akurdi vs. Shri Bhairavnat Gramin Bigarsheti Patsanstha Maryadig, Landewadi

Appeal is dismissed in above

ITA 252/PUN/2024[2017]Status: DisposedITAT Pune28 May 2024

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

For Appellant: -None-For Respondent: Shri Ramnath P. Murkunde

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

…-vis the assessee being a cooperative bank or a cooperative society as well as nominal and regular members, already stand rejected in hon’ble apex court’s landmark 7 ITA.No.252/PUN./2024 decision in Mavilayi Service Co-operative Bank Ltd., vs., CIT [2021] 431 ITR 1 (SC). 5. This is further coupled with the fact that the assessee’s impugned deduction claim of Rs.31,63,529/- realized from the foregoing members as well as cooperative society(ies) and bank(s) is also no more res integra in light of The Rena Sahakari Sakhar Karkhana Ltd. vs. PCIT’s ITA.No.1249/PUN./ 2018 dated 07.01.2022 has settled the issue…

Sadhana Sahakari Patpedhi Limited, Vasai, Palghar vs. CIT(A), NFAC, Delhi

ITA 57/MUM/2024[2020-21]Status: DisposedITAT Mumbai22 May 2024AY 2020-21

For Appellant: Shri Unmesh NarvekarFor Respondent: Dr. Kishor Dhule

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

…see. The Society had 11,484 members and it carried on transactions only with these members. Further, reliance was placed by the Appellant on the judgment in the case of of Mavilayi Service Co-operative Bank Ltd. vs. Commissioner of Income Tax, Calicut: [2021] 431 ITR 1 (SC)[12-01-2021]. In the aforesaid judgment, after considering the judgment of the Hon’ble Supreme Court in the case of Citizen Co- operative Society Ltd. (supra), the Hon’ble Supreme Court has held as under: “20. We now come to the judgment of this Court in Citizen Cooperative Society Ltd. (supra). This judgment was concerned with an assessee who…

Sadhana Sahakari Patpedhi Limited, Palghar vs. CIT(A), NFAC, Delhi

ITA 56/MUM/2024[2018-19]Status: DisposedITAT Mumbai22 May 2024AY 2018-19

For Appellant: Shri Unmesh NarvekarFor Respondent: Dr. Kishor Dhule

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

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

ITA 3770/MUM/2023[2018-19]Status: DisposedITAT Mumbai22 May 2024AY 2018-19

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

For Appellant: Shri Ketan L. VajaniFor Respondent: Dr. Kishor Dhule

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

…l Representative had referred to the decision of Hon’ble Supreme court in the case of Citizen Co-operative Society Ltd (supra). In this regard, we find that in the case of Mavilayi Service Co-operative Bank Ltd. vs. Commissioner of Income Tax, Calicut: [2021] 431 ITR 1 (SC)[12-01-2021], after considering the judgment of the Hon’ble Supreme Court in the case of Citizen Co-operative Society Ltd. (supra), the Hon’ble Supreme Court has held as under: “20. We now come to the judgment of this Court in Citizen Cooperative Society Ltd. (supra). This judgment was concerned with an assessee who was established initially a…

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

ITA 3769/MUM/2023[2017-18]Status: DisposedITAT Mumbai22 May 2024AY 2017-18

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

For Appellant: Shri Ketan L. VajaniFor Respondent: Dr. Kishor Dhule

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

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

ITA 3766/MUM/2023[2020-21]Status: DisposedITAT Mumbai22 May 2024AY 2020-21

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

For Appellant: Shri Ketan L. VajaniFor Respondent: Dr. Kishor Dhule

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

Shree Cheerumba Credit Co-Operative Society Limited, Mangaluru vs. Income-Tax Officer, Ward-2(1), Mangaluru

In the result, we pass the following:

ITA 599/BANG/2024[2020-21]Status: DisposedITAT Bangalore17 May 2024AY 2020-21

Bench: Shri George George K & Shri Waseem Ahmed

For Appellant: Shri Sriram V. Rao, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru

Section 143(3)Section 250Section 57Section 80PSection 80P(2)(a)

…ex Court in the case of Citizen Co-operative Society Ltd., Vs. ACIT reported in (2017) 397 ITR 1. The Learned AR, by referring to the latest judgment of the Hon’ble Apex Court in the case of Mavilayi Service Co- operative Bank Ltd., & Ors. Vs. CIT reported in 431 ITR 1 submitted that there is no prohibition under the Karnataka Co-operative Societies Act, 1959, for admission of nominal / associate members. Hence, it was contended that assessee is entitled to deduction under section 80P(2)(a)(i) of the Act, in providing credit facilities to its associate / nominal members. 8. The learned DR supported the orders of…

Shree Cheerumba Credit Co-Operative Society Limited, Mangaluru vs. Income Tax Officer, Mangaluru

In the result, we pass the following:

ITA 548/BANG/2024[2018-19]Status: DisposedITAT Bangalore17 May 2024AY 2018-19

Bench: Shri George George K & Shri Waseem Ahmed

For Appellant: Shri Sriram V. Rao, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru

Section 143(3)Section 250Section 57Section 80PSection 80P(2)(a)