Mavilayi Service Co-operative Bank Ltd. v. CIT

Pune Zilla Sahakari Dudh Utpadak Sangh Maryadit, Pune vs. DCIT, Circle-5, Pune

In the result, appeal of the Assessee for A

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपऩल सं. / Ita Nos.2194 & 2195/Pun/2025 निर्धारण वषा / Assessment Years: 2017-18 & 2018-19 Pune Zilla Sahakari Dudh V Dcit, Utpadak Sangh Maryadit, S. Circle-5, Pune. Katraj Dairy, Pune Satara Road, Katraj, Pune – 411037. Pan: Aaaap0836A Appellant/ Assessee Respondent / Revenue Assessee By Shri M.R.Bhagwat Revenue By Smt. Saumya Pandey Jain – Addl.Cit Date Of Hearing 20/11/2025 Date Of Pronouncement 08/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 Both Dated 30.07.2025 Emanating From The Separate Assessment Orders Under Section 143(3) Of The Act, 1961 Dated 19.12.2019 & 19.01.2021 For The A.Y.2017-18 & 2018-19 Respectively. For The Sake Of Convenience, Both The Appeals Were Heard Together & Decided In A

…ld.CIT(A) who confirmed the assessment order. 4. Ld.CIT(A) confirmed the assessment order relying on decision of Hon’ble Supreme Court in the case of Totagar’s Co-operative Society Ltd, 322 ITR 283 [2010] and Mavilayi Service Co-operative Bank Ltd., Vs. CIT 431 ITR 1 [2021]. 3 ITA Nos.2194 & 2195/PUN/2025 [A] 5. Aggrieved by the order of ld.CIT(A), Assessee has filed appeal before this Tribunal. 6. Ld.AR for the Assessee submitted that the issue is covered in favour of Assessee by the decision of ITAT Pune. 6.1 Ld.Departmental Representative(ld.DR) for the Revenue relied on the order of Assessing Officer an…

Pune Zilla Sahakari Dudh Utpadak Sangh Maryadit, Pune vs. DCIT, Circle-5, Pune

In the result, appeal of the Assessee for A

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपऩल सं. / Ita Nos.2194 & 2195/Pun/2025 निर्धारण वषा / Assessment Years: 2017-18 & 2018-19 Pune Zilla Sahakari Dudh V Dcit, Utpadak Sangh Maryadit, S. Circle-5, Pune. Katraj Dairy, Pune Satara Road, Katraj, Pune – 411037. Pan: Aaaap0836A Appellant/ Assessee Respondent / Revenue Assessee By Shri M.R.Bhagwat Revenue By Smt. Saumya Pandey Jain – Addl.Cit Date Of Hearing 20/11/2025 Date Of Pronouncement 08/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 Both Dated 30.07.2025 Emanating From The Separate Assessment Orders Under Section 143(3) Of The Act, 1961 Dated 19.12.2019 & 19.01.2021 For The A.Y.2017-18 & 2018-19 Respectively. For The Sake Of Convenience, Both The Appeals Were Heard Together & Decided In A

…ld.CIT(A) who confirmed the assessment order. 4. Ld.CIT(A) confirmed the assessment order relying on decision of Hon’ble Supreme Court in the case of Totagar’s Co-operative Society Ltd, 322 ITR 283 [2010] and Mavilayi Service Co-operative Bank Ltd., Vs. CIT 431 ITR 1 [2021]. 3 ITA Nos.2194 & 2195/PUN/2025 [A] 5. Aggrieved by the order of ld.CIT(A), Assessee has filed appeal before this Tribunal. 6. Ld.AR for the Assessee submitted that the issue is covered in favour of Assessee by the decision of ITAT Pune. 6.1 Ld.Departmental Representative(ld.DR) for the Revenue relied on the order of Assessing Officer an…

Shree Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit, Pimpalgaon vs. Assessing Officer, Nashik

In the result, appeal of the Assessee for A

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩलसं. / Ita Nos.1596 & 1598/Pun/2025 निर्धारण वषा / Assessment Years: 2017-18 & 2018-19 Shree Sant Savta Gramin Bigar V Assessment Unit, Income Seti Sahakari Pathasanstha S Tax Department, Delhi. Maryadit, Pimpalgaon, Niphad, Nashik – 422209. Pan: Aacas4098M Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanket Joshi Revenue By Shri Madhukar Anand – Jcit(Through Virtual) Date Of Hearing 07/01/2026 Date Of Pronouncement 08/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Common Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac] Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2017-18 & 2018-19, Both Dated 27.11.2024 Emanating From Separate Assessment Order U/S.143(3) Of The I.T.Act, Dated 15.12.2019 & 24.02.2021 Respectively. For The Sake Of

…ddition, Assessee filed appeal before ld.CIT(A). Ld.CIT(A) confirmed the addition following the decision of Hon’ble Supreme Court in the case of Totagar’s Co- operative Sales Society Ltd, 322 ITR 283 [2010] and Mavilayi Service Co-operative Bank Ltd., Vs. CIT 431 ITR 1 [2021]. Ld.CIT(A) also confirmed the addition made u/s.68 of the Act. 6. Aggrieved by the order of ld.CIT(A), Assessee filed appeal before this Tribunal. 7. In this case, admittedly assessee had deposited Demonetized Currency of Rs.60,32,500/- in the Bank Account. Assessing Officer in the assessment order has admitted that the said cash was recei…

Shree Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit, Pimapalgaon vs. Assessing Officer, Nashik

In the result, appeal of the Assessee for A

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩलसं. / Ita Nos.1596 & 1598/Pun/2025 निर्धारण वषा / Assessment Years: 2017-18 & 2018-19 Shree Sant Savta Gramin Bigar V Assessment Unit, Income Seti Sahakari Pathasanstha S Tax Department, Delhi. Maryadit, Pimpalgaon, Niphad, Nashik – 422209. Pan: Aacas4098M Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanket Joshi Revenue By Shri Madhukar Anand – Jcit(Through Virtual) Date Of Hearing 07/01/2026 Date Of Pronouncement 08/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Common Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac] Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2017-18 & 2018-19, Both Dated 27.11.2024 Emanating From Separate Assessment Order U/S.143(3) Of The I.T.Act, Dated 15.12.2019 & 24.02.2021 Respectively. For The Sake Of

…ddition, Assessee filed appeal before ld.CIT(A). Ld.CIT(A) confirmed the addition following the decision of Hon’ble Supreme Court in the case of Totagar’s Co- operative Sales Society Ltd, 322 ITR 283 [2010] and Mavilayi Service Co-operative Bank Ltd., Vs. CIT 431 ITR 1 [2021]. Ld.CIT(A) also confirmed the addition made u/s.68 of the Act. 6. Aggrieved by the order of ld.CIT(A), Assessee filed appeal before this Tribunal. 7. In this case, admittedly assessee had deposited Demonetized Currency of Rs.60,32,500/- in the Bank Account. Assessing Officer in the assessment order has admitted that the said cash was recei…

Income Tax Officer, Ward 5, Sangli. vs. Shree Ganesh Nagari Sahakari Pat Sanstha Maryadit, Ashta

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2375/Pun/2025 िनधा"रण वष" / Assessment Year : 2018-19 Ito, Ward-5, Sangli. Vs. Shree Ganesh Nagari Sahakari Pat Sanstha Maryadit, Ashta, Tal. Walwa, Dist. Sangli, Sangli- 416301. Pan : Aaaas8248R Appellant Respondent C. O. No.49/Pun/2025 (Arising Out Of Ita No.2375/Pun/2025) िनधा"रण वष" / Assessment Year : 2018-19 Shree Ganesh Nagari Vs. Ito, Ward-5, Sangli. Sahakari Pat Sanstha Maryadit, Ashta, Tal. Walwa, Dist. Sangli, Sangli- 416301. Pan : Aaaas8248R Appellant Respondent Revenue By : Shri Umesh Phade Assessee By : Shri Sarang Gudhate Date Of Hearing : 25.11.2025 Date Of Pronouncement : 06.01.2026 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Dated 05.08.2025 Passed By Ld. Cit(A)/Nfac For The Assessment

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2375/PUN/2025 िनधा"रण वष" / Assessment Year : 2018-19 ITO, Ward-5, Sangli. Vs. Shree Ganesh Nagari Sahakari Pat Sanstha Maryadit, Ashta, Tal. Walwa, Dist. Sangli, Sangli- 416301. PAN : AAAAS8248R Appellant Respondent C. O. No.49/PUN/2025 (Arising out of ITA No.2375/PUN/2025) िनधा"रण वष" / Assessment Year : 2018-19 Shree Ganesh Nagari Vs. ITO, Ward-5, Sangli. Sahakari Pat Sanstha Maryadit, Ashta, Tal. Walwa, Dist. Sangli, Sangli- 416301. PAN : AAAAS…

Deepalaxmi Nagari Patsanstha Maryadit, Sangamnagar vs. ITO Ward 2, Aurangabad

Bench: Justice (Retd.) C V Bhadang & Shri R. K. Panda

…)(i) in respect of income from cooperative banks and cooperative societies stands decided in favour of the assessee by various decisions. 12. We find the Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Ltd. Vs. CIT reported in (2021) 431 ITR 1 (SC) has held that where the assessee was registered as primary agricultural credit society, it was entitled to benefit of deduction under section 80P(2)(a)(i) notwithstanding that it was also giving loans to its members which were not related to agriculture. The relevant observations of Hon’ble Supreme Court read as under: “45. To sum up, therefor…

Deepalaxmi Nagari Patsanstha Maryadit, Sangamnagar vs. ITO Ward 2, Ahmednagar

Bench: Justice (Retd.) C V Bhadang & Shri R. K. Panda

…)(i) in respect of income from cooperative banks and cooperative societies stands decided in favour of the assessee by various decisions. 12. We find the Hon’ble Supreme Court in the case of Mavilayi Service Co- operative Bank Ltd. Vs. CIT reported in (2021) 431 ITR 1 (SC) has held that where the assessee was registered as primary agricultural credit society, it was entitled to benefit of deduction under section 80P(2)(a)(i) notwithstanding that it was also giving loans to its members which were not related to agriculture. The relevant observations of Hon’ble Supreme Court read as under: “45. To sum up, therefor…

Dy. Commissioner of Income Tax, Satara Circle, Satara vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Man, Satara

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

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.1800 & 1801/Pun/2025 निर्धारण वर्ष / Assessment Years : 2018-19 & 2020-21 Dy. Cit, Satara Circle, Satara अपीलार्थी / Appellant Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Vs. At Post-Dahiwadi, Tal.-Man Satara, Satara-415508 Pan: Aaoas0059G प्रत्यर्थी / Respondent Shri R.C. Doshi Shri S. Sadananda Singh 11-11-2025 18-12-2025 आदेश / Order Per Astha Chandra, Jm : These Two Appeals Filed By The Revenue Are Directed Against The Two Separate Orders Both Dated 19.05.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac"] Pertaining To Assessment Year (“Ay”) 2018-19 & 2020-21. Since The Issue(S) Involved Are Identical, These Were Heard Together & Are Being Disposed Of By This Common Order.

…tion 80P(4) are applicable to taxation of interest received by co- operative banks and not to interest and dividend paid by co-operative banks. He relied on the judgement of the Hon'ble Apex Court in case of Mavilayi Service Co-operative Bank Limited Vs. CIT (431 ITR 1), wherein it is held that section 80P(4) operates as a proviso to section 80P(2)(a), implying that 80P(4) would not affect operation of section 80P(2)(d) of the Act. 6.4 In respect of ground No. 4 of the Revenue, the Ld. AR submitted that so far as the judgement of the Hon'ble Apex Court in the case of Totgars Co- operative Sales Society Ltd. Vs. I…

Dy. Commissioner of Income Tax, Satara Circle, Satara vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Tal. Man Satara

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

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.1800 & 1801/Pun/2025 निर्धारण वर्ष / Assessment Years : 2018-19 & 2020-21 Dy. Cit, Satara Circle, Satara Vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, At Post-Dahiwadi, Tal.-Man Satara, Satara-415508 Pan: Aaoas0059G अपीलार्थी / Appellant Assessee By : Shri R.C. Doshi Department By : Shri S. Sadananda Singh Date Of Hearing : 11-11-2025 Date Of Pronouncement : 18-12-2025 प्रत्यर्थी / Respondent आदेश / Order Per Astha Chandra, Jm : These Two Appeals Filed By The Revenue Are Directed Against The Two Separate Orders Both Dated 19.05.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac"] Pertaining To Assessment Year (“Ay”) 2018-19 & 2020-21. Since The Issue(S) Involved Are Identical, These Were Heard Together & Are Being Disposed Of By This Common Order.

…tion 80P(4) are applicable to taxation of interest received by co- operative banks and not to interest and dividend paid by co-operative banks. He relied on the judgement of the Hon'ble Apex Court in case of Mavilayi Service Co-operative Bank Limited Vs. CIT (431 ITR 1), wherein it is held that section 80P(4) operates as a proviso to section 80P(2)(a), implying that 80P(4) would not affect operation of section 80P(2)(d) of the Act. 6.4 In respect of ground No. 4 of the Revenue, the Ld. AR submitted that so far as the judgement of the Hon'ble Apex Court in the case of Totgars Co- operative Sales Society Ltd. Vs. I…