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 367,181 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 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

Reserve Bank Staff and Officers Co-Op Credit Society Ltd, Mumbai vs. ITO Ward 26 (1) (1), Mumbai

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

ITA 3114/MUM/2023[2013-14]Status: DisposedITAT Mumbai22 Jan 2024AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Siddesh Mayekar, ARFor Respondent: Smt. Mahita Nair, DR

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 3115/Mum/2023 (Assessment Year: 2014-15) ITA No. 3117/Mum/2023 (Assessment Year: 2018-19) Reserve Bank Staff and Officers Income Tax Officer, co-op credit society Ltd. 2nd Floor, Amar Building, Ward, 26(1)(1), Vs. Sir P.M. Road, Mumbai-400 051 Fort, Mumbai-400 001 (Appellant) (Respondent) PAN No. AAAAR0178F Assessee by : Mr. Siddesh Mayekar, AR Revenue by : Smt. Mahita Nair, DR Date of hearing: 09.01.2024 Date of pronouncement 22.01.2024 : O R D E R ITA No. 3114 & Ors/Mum/2023 Reserve…

M/S. Ubaradka Mithur Primary Agricultural Credit Co-Operative Society Ltd., Sullia vs. Income-Tax Officer, Ward-1, Puttur

ITA 1015/BANG/2023[2017-18]Status: DisposedITAT Bangalore19 Jan 2024AY 2017-18

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

Section 143(1)Section 143(2)Section 143(3)Section 80PSection 80P(1)Section 80P(2)(d)Section 8O

…reby the ld. AO followed the decision of Hon'ble Supreme Court in the case of Citizen Co-operative Society Ltd. (397 ITR 1) (SC). However, we find that the decision of Hon'ble Supreme Court in the case of Mavilayi Service Cooperative Bank Ltd. & Ors. Vs. CIT (431 ITR 1) (SC), wherein held as under: “It is important to note that though the main object of the primary agricultural society in question is to provide financial assistance in the form of loans to its members for agricultural and related purposes, yet, some of the objects go well beyond, and include performing of banking operations…

Town Vividoddesha Sahakari Bhandara Niyamitha, Tumkuru vs. Income Tax Officer, Ward-1 & Tps, Tumkur

In the result, the assessee’s appeal is allowed

ITA 1089/BANG/2023[2014-15]Status: DisposedITAT Bangalore17 Jan 2024AY 2014-15

Bench: Shri George George K. & Shri Chandra Poojariassessment Year : 2014-15

For Appellant: Shri Sandeep Chalapathy, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

Section 143(2)Section 143(3)Section 154Section 154(3)Section 80P

…t a rectification order can be passed on the basis of subsequent judgment. It is interesting to note that the AO has not referred to the subsequent judgment dated 12.1.2021 of the Apex Court in the case of Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC) which was already available when he had issued show cause notice to the assessee. The Hon’ble Apex Court in Mavilayi Service Co- operative Bank Ltd. (supra) has clearly held that to the extent of Page 6 of 7 dealing with non-members, proportionate deduction for the same can be denied. As mentioned earlier, in the instant case the AO while iss…

The Jagadhri Co-Operative Marketing Cum Processing Society Ltd., Jagadhri vs. The Pr.CIT, Panchkula

In the result, the appeal of the assessee is allowed

ITA 210/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh12 Jan 2024AY 2018-19

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Tejmohan Singh, AdvocateFor Respondent: Smt. Kusum, CIT, DR

Section 139(1)Section 143(3)Section 263Section 80Section 80PSection 80P(2)(d)

…CIT Vs. the Totgars Co-operative Sales Society Ltd. dt. 08/02/2010 reported in 322 ITR 283, CIT Vs. Punjab State Cooperative Federation of Housing Building Societies Ltd. 11 Taxmann.com 448 (P&H) and Mavilayi Service Co-operative Bank Ltd. Vs. CIT reported in 431 ITR 1 (SC) and the deduction under section 80P(2)(d) was restricted to Rs 34,33,402/- as against Rs. 50,25,234/- claimed by the assessee society. 5. Subsequently, the assessment records were called for and examined by the Ld. Pr. CIT and it was held that the AO has erred in not correctly appreciating the decision of the Hon’ble Supreme Court (Supra), Ho…

M/S. Savanoor Primary Agricultural Credit Co-Operative Society Ltd., Savanoor, Puttur vs. Income Tax Officer, Ward-1, Puttur

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

ITA 919/BANG/2023[2018-19]Status: DisposedITAT Bangalore09 Jan 2024AY 2018-19

Bench: Shri George George K & Shri Chandra Poojariassessment Year : 2018-19 M/S. Savanoor Primary Agricultural Vs. Ito, Co-Operative Society Ltd., Ward – 1, Savanoor Co-Operative Agricultural Puttur. Bank Ltd., Saanoor, Savanoor Puttur – 574 202, Karnataka. Pan : Aaeat 1118 M Appellant Respondent Assessee By : Ms. Harsha J, Advocate Revenue By : Shri. Subramanian S, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 08.01.2024 Date Of Pronouncement : 09.01.2024

For Appellant: Ms. Harsha J, AdvocateFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru

Section 143(2)Section 143(3)Section 250Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(2)(e)

…regards the claim of deduction under section 80P(2)(a)(i) of the Act, the CIT(A) partly allowed the appeal of the assessee by following the 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 (SC). The CIT(A) directed the AO to examine whether assessee is extending / providing credit facilities to non-members and income earned out of such activity cannot be granted deduction under section 80P(2)(a)(i) of the Act. The above direction of the learned CIT(A) is in conformity with the dictum laid down by the Hon’ble Apex Court in the case of…

The Commercial Employees Co-Operative Society Ltd, Chennai vs. ITO Non- Corporate Ward 12(1), Chennai

In the result, the appeal of the assessee is allowed

ITA 619/CHNY/2023[2018-19]Status: DisposedITAT Chennai29 Dec 2023AY 2018-19

Bench: Shri Mahavir Singh & Shri Manjunatha.Gआयकरअपीलसं./I.T.A. No. 619/Chny/2023 िनधा"रणवष"/Assessment Year : 2018-2019 The Commercial Employees Co- Vs. The Income Tax Officer, Operative Society Limited, Non Corp Ward 12(1) No.37C, Sembudoss Street, Chennai. George Town, Chennai 600 001. [Pan Aahat 3600M] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. J. Prabhakar, C.A. अपीलाथ" क" ओर से/ Appellant By ""यथ" क" ओरसे /Respondent By : Shri. Nilay Baran Som, Cit. सुनवाई क" तारीख/Date Of Hearing : 19.12.2023 घोषणा क" तारीख /Date Of Pronouncement : 29.12.2023 आदेश/ O R D E R Per Mahavir Singh:

For Respondent: Shri. Nilay Baran Som, CIT

Section 143(3)Section 263Section 80PSection 80P(2)(a)

…e 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…

M/S. Ampar Co-Operative Agriculture Society Limited, Udupi vs. Income-Tax Officer, Ward-1, Udupi

In the result, the appeals of the Assessee for AY 2013-14 & 2014-15 are allowed while the appeal for AY 2015-16 is partly allowed

ITA 796/BANG/2023[2020-21]Status: DisposedITAT Bangalore21 Dec 2023AY 2020-21

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

For Appellant: Shri Akshaya K.S., A.RFor Respondent: Dr. Nischal, D.R

Section 143(3)Section 43BSection 80PSection 80P(2)Section 80P(2)(a)

…h Court of Karnataka referred to above, the deduction u/s.80P(2)(a)(i) of the Act cannot be denied to the Assessee. The latest verdict by the Hon'ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. v. CIT 2021 TaxPub(DT) 273 (SC) : (2021) 431 ITR 1 (SC) while delivering the judgment in favour held: “Section 80P being a benevolent provision enacted by Parliament to encourage and promote credit of co-operative sector in general must be read liberally and reasonably, and if there is ambiguity, in favour of assessee. A deduction that is given without any reference to any restriction or limitation…

M/S. Ampar Co-Operative Agriculture Society Limited, Udupi vs. Income-Tax Officer, Ward-1, Udupi

In the result, the appeals of the Assessee for AY 2013-14 & 2014-15 are allowed while the appeal for AY 2015-16 is partly allowed

ITA 795/BANG/2023[2017-18]Status: DisposedITAT Bangalore21 Dec 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

For Appellant: Shri Akshaya K.S., A.RFor Respondent: Dr. Nischal, D.R

Section 143(3)Section 43BSection 80PSection 80P(2)Section 80P(2)(a)

Bantwal Pubilc Employees Consumers Co- Operative Society, Bantwala vs. Income Tax Officer, Ward-2(3), Mangalore

In the result, appeal filed by the assessee is dismissed

ITA 903/BANG/2023[2017-18]Status: DisposedITAT Bangalore18 Dec 2023AY 2017-18

Bench: Shri George George K & Shri Laxmi Prasad Sahuassessment Year : 2017-18 M/S. Bantwal Public Employees Consumers Vs. Ito, Co-Operative Society, Ward – 2(3), Kaikamba, Jodumarga, Bantwala – 574 219, Mangalore. Dakshina Kannada. Pan : Aabab 0979 P Appellant Respondent Assessee By : Shri. Sriram V. Roa, Ca Revenue By : Shri. Ganesh R Ghale, Standing Counsel For Revenue. Date Of Hearing : 18.12.2023 Date Of Pronouncement : 18.12.2023

For Appellant: Shri. Sriram V. Roa, CAFor Respondent: Shri. Ganesh R Ghale, Standing Counsel for Revenue

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

…entitled to voting rights and therefore there is no violation of principle of mutuality. In this context, the learned CIT(A) relied on the 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. As regards the interest received on investments with co-operative banks, the CIT(A) confirmed the view taken by the AO. The CIT(A) followed the order of the Bangalore Bench of the Tribunal in the case of Vasavamba Co-operative Society Ltd., Vs. PCIT in ITA No.453/Bang/2020 (order dated 13.08.2021), which in turn had followed the Page 4 of 5 judgm…

Mudhol Pattina Sahakari Sangh Niyamita, Mudhol vs. Income Tax Officer Ward-1, Bagalkot

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

ITA 715/BANG/2023[2017-2018]Status: DisposedITAT Bangalore18 Dec 2023AY 2017-2018

Bench: Shri George George Kassessment Year : 2017-18 M/S. Mudhol Pattina Sahakari Sangh Niyamita, Vs. Acit, Gokul Complex, Gandhi Circle, Mudhol, Circle – 1, Mudhol Dist, Bagalkot – 587 313, Hassan. Karnataka. Pan : Aaeam 7882 P Appellant Respondent Assessee By : Shri. Veeranna M. Murgod, Ca Revenue By : Shri. Ganesh R Ghale, Advocate, Standing Counsel For Revenue. Date Of Hearing : 18.12.2023 Date Of Pronouncement : 19.12.2023

For Appellant: Shri. Veeranna M. Murgod, CAFor Respondent: Shri. Ganesh R Ghale, Advocate, Standing Counsel for Revenue

Section 115BSection 143(2)Section 143(3)Section 234ASection 234BSection 250Section 68Section 80PSection 80P(2)(a)

…, assessee filed appeal before the First Appellate Authority. The CIT(A) partly allowed the appeal of the assessee. The CIT(A) following the 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, directed the AO to allow deduction under section 80P(2)(a)(i) of the Act. As regards the cash deposits made, the CIT(A) confirmed the addition of Rs.18,33,672/- made by the AO. The relevant finding of the CIT(A) reads as follows: “5.2. DECISION: I have gone through and considered the observation of AO, submission of the appellant and all the mate…

Kanak Pattin Sahakari Sangh Niyamit, Bilagi vs. Income-Tax Officer, Ward-1, Bagalkot

In the result, the appeal by the assessee is dismissed

ITA 790/BANG/2023[2018-19]Status: DisposedITAT Bangalore14 Dec 2023AY 2018-19

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2018-19

For Appellant: Shri V. Sridhar, CAFor Respondent: Shri Subramanaian, S., Jt.CIT(DR)(ITAT), Bengaluru

Section 143(2)Section 18Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ship. Therefore, assessee would not be entitled to deduction under section 80(P)(2)(a)(i) of the Act on income arising from dealing with nonmembers. 10. However, the Hon’ble Apex Court in the case of Mavilayi Service Cooperative Bank Ltd., (supra) reported in 431 ITR 1 had categorically stated that assessee is entitled to proportionate deduction under section 80P(2)(a)(i) of the Act in respect of its income earned from its business from regular members. The relevant finding of the Hon’ble Apex Court in the case of Mavilayi Service Cooperative Bank Ltd., (supra) reads as follows: “To sum up, therefore, the ratio…

Sivapuram Service Co-Op Bank Ltd, Kozhikode vs. ITO Ward 2(3), Kozhikode

ITA 62/COCH/2023[2018-19]Status: DisposedITAT Cochin13 Dec 2023AY 2018-19

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

Section 143(3)Section 5Section 80PSection 80P(1)Section 80P(2)(a)

…e of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft order or otherwise.’ Reliance for the purpose is placed, inter alia, on Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC); The Citizen Co-operative Society Ltd. v. Asst. CIT [2017] 397 ITR 1 (SC), as indeed Pr.CIT v. Poonjar Service Co-op. Bank Ltd. [2019] 414 ITR 67 (Ker)(FB).The only difference in the case of Vilavattam SCB Ltd. is that the ratio of agricultural advances is at a negligible 0.12%, and the claim for deduction is in entirety u/s. 80P(2)(a)(i). The…

Sivapuram Service Co-Op Bank Ltd, Kozhikode vs. ITO Ward 2(3), Kozhikode

ITA 61/COCH/2023[2017-18]Status: DisposedITAT Cochin13 Dec 2023AY 2017-18

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

Section 143(3)Section 5Section 80PSection 80P(1)Section 80P(2)(a)

Vilavattam Service Co-Op Bank Ltd No 337, Thrissur vs. ITO Ward 2(3), Thrissur

ITA 1010/COCH/2022[2014-15]Status: DisposedITAT Cochin13 Dec 2023AY 2014-15

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

Section 143(3)Section 5Section 80PSection 80P(1)Section 80P(2)(a)

Minority Co Op Credit Society Ltd, Bagalkot vs. ITO W(1), Bagalkot

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

ITA 788/BANG/2023[2017-18]Status: DisposedITAT Bangalore11 Dec 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2017-18

For Appellant: Shri Ramesh V. Mudhol, A.RFor Respondent: Shri V. Parithivel, D.R

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

…ITA No.788/Bang/2023 M/s. Minority Co-op. Credit Society Limited, Bagalkot IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. MADHUMITA ROY, JUDICIAL MEMBER Assessment Year: 2017-18 Minority Co-op. Credit Society Ltd. MCCS Ltd. TMC Building New Vegetable Market Bagalkot 587101 Vs. ITO Ward-1 Karnataka Bagalkot PAN NO : AADAM6436C APPELLANT RESPONDENT Appellant by : Shri Ramesh V. Mudhol, A.R. Respondent by : Shri V. Parithivel, D.R. Date of Hearing : 11.12.2023 Date of Pronouncement : 11.12.2023 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBE…

M/S High Range Foods Private Ltd, Kochi vs. ITO Corporate Ward 1(3), Kochi

In the result, the assessee’s appeal is partly allowed

ITA 22/COCH/2023[2015-16]Status: DisposedITAT Cochin11 Dec 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dashigh Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) Vs. Kadavanthra, Kochi 682020 Kochi [Pan:Aaach6076L] (Appellant) (Respondent) Assessee By: Shri P.M. Veeramani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.09.2023 Date Of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Is Directed Against The Order Dated 28.06.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)], Disallowing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 27.12.2017 For Assessment Year (Ay) 2015-16. 2. The Appeal, Filed On 09.01.2023, Is Delayed By 135 Days. The Condonation Petition Accompanying The Appeal, Which Is Supported By A Sworn Affidavit Dated 29.12.2022 By Shri Simon John, The Director & Principal Officer Of The Assessee- Company, Explains The Delay In Terms Of Non-Conveyance Of The Impugned Order Inasmuch As It’S Uploading On The Itba Was Not Accompanied By A Simultaneous Uploading On The Mobile Application As Well As A Real Time Alert Through Sms, As Required By Clause 11 Of The National Faceless Appeal Scheme (Nfas), So That The Order Cannot Be Regarded As Served On 28.6.2022, The Date Of The Impugned Order And

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

Section 143(3)Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Shri Manomohan Das, Judicial Member High Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) vs. Kadavanthra, Kochi 682020 Kochi [PAN:AAACH6076L] (Appellant) (Respondent) Assessee by: Shri P.M. Veeramani, CA Revenue by: Smt. J.M. Jamuna Devi, Sr. D.R. Date of Hearing: 11.09.2023 Date of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, AM This Appeal by the Assessee is directed against the Order dated 28.06.2022 by the Commissioner of Income Tax (Appeals), NFA…

Income Tax Officer, Udupi vs. Sagar Credit Co-Operative Society, Udupi

In the result, appeal filed by the Revenue is dismissed

ITA 544/BANG/2023[2017-18]Status: DisposedITAT Bangalore06 Dec 2023AY 2017-18

Bench: Shri George George K & Shri Laxmi Prasad Sahuassessment Year : 2017-18 Ito, Vs. M/S. Sagar Credit Co-Operative Society, Ward – 1, Main Road N-H17, Udupi. Byndoor Kundapura Taluk, Udupi District – 576 214. Pan : Aabas 4278 A Appellant Respondent Assessee By : None Revenue By : Shri. V. Parithivel, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 06.12.2023 Date Of Pronouncement : 06.12.2023

For Appellant: NoneFor Respondent: Shri. V. Parithivel, JCIT(DR)(ITAT), Bengaluru

Section 143(2)Section 250Section 251(1)(a)Section 80PSection 80P(2)Section 80P(2)(a)

…ee filed appeal before the First Appellate Authority (FAA). The CIT(A) partly allowed the appeal of the assessee. The CIT(A), relying on the 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, directed the AO to grant deduction under section 80P in respect of the assessee’s income out of providing credit facilities to its members. The relevant finding of the CIT(A) reads as follows: “5.1.4 Considering the above, the AO is directed to verify and examine The Karnataka Co-op. Society Act, under which the assesse is registered, and find ou…

Income Tax Officer, Ward-1(1), C R Building Hubli vs. The Nationalwelfare Urban Co-Op Credit Societt Limited, Dharwad

In the result, the appeal filed by the revenue is partly allowed for statistical purposes

ITA 666/BANG/2023[2017-18]Status: DisposedITAT Bangalore30 Nov 2023AY 2017-18

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year: 2017-18

For Appellant: Shri Hemath Kumar M. Shurpali, A.R. &For Respondent: Shri V. Parithivel, D.R

Section 143(3)Section 18Section 250Section 68Section 80Section 80PSection 80P(2)Section 80P(2)(a)

…referred an appeal before the first appellate authority. The ld. CIT(A) decided the issue in favour of the assessee. The ld. CIT(A) relying on the judgement of Hon’ble Apex Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors Vs. CIT reported in 431 ITR 1 (SC) held that if State Act does not prohibit giving credit facilities to non-members/Associate members, deduction u/s 80P of the Act cannot be denied. 4.3 Aggrieved, the revenue has raised the issue in appeal before the Tribunal. The ld. D.R. submitted that the ld. CIT(A) has misinterpreted the judgement of the Hon’ble Apex Court in the case of Ma…

ACIT, Ernakulam vs. Appolo Tyres Ltd, Cochin

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

ITA 140/COCH/2020[2011-12]Status: DisposedITAT Cochin30 Nov 2023AY 2011-12

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Sh. Sanjit K. Das, CIT-DR and Smt

Section 147

…2020, dated 03.04.2020). The Page 15 ITANos. 139 & 140/Coch/ 2020 (AYs 2009-10 & 2011-12) CO Nos. 02 & 03/Coch/2020 Asst. CIT vs. Apollo Tyres Ltd. same, in ratio, which alone is binding (The Mavilayi Service Co-operative Bank Ltd. Ltd. & Ors. v. CIT [2021] 431 ITR 1 (SC); Sree Bhagavathi Textiles Ltd. v. CIT [2000] 244 ITR 496 (Ker)), again validates the view taken by us. We shall, nevertheless, begin by reproducing the only part (of the decision) through which we were taken during hearing: - “31. The revenue now has come up with the plea that certain documents were not supplied but according to us all these d…

ACIT, Ernakulam vs. Appolo Tyres Ltd, Cochin

In the result, the Revenue’s appeals as well as the Assessee’s COs, are allowed

ITA 139/COCH/2020[2009-10]Status: DisposedITAT Cochin30 Nov 2023AY 2009-10

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Joseph Markose, AdvocateFor Respondent: Sh. Sanjit K. Das, CIT-DR and Smt

Section 147