Meenachil Rubber Marketing and Processing Co-operative Society Ltd. v. CIT (ITR

193 ITR 108Reported decision1992#23344 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 350,364 Indian tax judgments — from 2016 to 2022.

Judgments citing Meenachil Rubber Marketing and Processing Co-operative Society Ltd. v. CIT (ITR

ACIT, Circle - 2, Gorakhpur vs. M/S Seorahi Cooparetive Cane Development Union Ltd., Seorahi

In the result, appeal filed by Revenue in ITA No

ITA 144/VNS/2019[2013-2014]Status: DisposedITAT Varanasi09 Jun 2022AY 2013-2014

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 The Asst. Commissioner Of M/S. Seorahi Cooperative Cane Income Tax, V. Development Union Ltd. Circle-2, Seorahi, Gorakhpur, U.P. Kushinagar, U.P. Pan:Aabas8968D (Appellant) (Respondent)

For Appellant: None, written submissions filed by the assesseeFor Respondent: Shri Ramendra Kumar Vishwakarma, CIT DR

Section 142(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 80P(2)(a)

…anner which would achieve this benevolent purpose of exemption rather than defeat this said purpose of course applying the settled rules of construction. It was held in the case of Menachi Rubber Marketing & Processing Co-operative Society Ltd. Vs. CIT (1992) 193 ITR 108, 117 (Kar.) So long as agricultural produce handled by the assessee belonged to its member, it would be entitled to exemption in respect of profits derived from the marketing thereof in terms of provisions section 80P(2)(a)(iii), the only condition required for qualifying the assessee’s income for exemption would be the assessee’s business was ma…

Income Tax Officer, Ward-1(2), Hubli-Dharwad vs. M/S the Annigeri Agricultural Produce Co-Oprative Sale and Processing Society Ltd, Hubli-Dharwad

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

ITA 2803/BANG/2017[2014-15]Status: DisposedITAT Bangalore23 Mar 2018AY 2014-15

Bench: Shri Arun Kumar Garodiaassessment Year :2014-15

For Appellant: Shri L.V. Bhaskar Reddy, Addl. CIT (DR)For Respondent: Shri E.S. Kiresur, Advocate

Section 80P(2)(a)Section 80P(2)(iii)

…ment in the case of CIT Vs. Karjan Co-op. Cotton Sale Ginning and Pressing Society Ltd. (1981) 129 ITR (Guj.); (ii)Judgement of Hon'ble High Court of Kerala in the case of Meenachil Rubber Marketing and Processing Co-operative Society Ltd. Vs. CIT (ITR 1992 - 193 ITR 108), and (iii)Judgement of Hon'ble High Court of Karnataka in the case of Addl.CIT Vs. Ryots Agricultural Produce Co-op. Marketing Society Limited (1978) (115 ITR 709), as the case laws are not applicable to the assessee's case as they are related to marketing of agricultural goods of the members of the co-operative society. iii) In view of the afor…

ITO, Ooty vs. The Bikatty Industrial Co-Operative Tea Factory Ltd., the Nilgiris

In the result, the appeal of the Department in ITA

ITA 709/CHNY/2016[2012-13]Status: DisposedITAT Chennai16 Aug 2016AY 2012-13

Bench: Shri Abraham P. George & Shri G. Pavan Kumar

For Appellant: Shri. Shiva Srinivasas, IRS, JCITFor Respondent: Shri. N. Vijaykumar, C.A

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

…activity of the entire business of ginning and pressing of cotton and marketing it by virtue of section 81(i)(c)”. 10. The Hon'ble Kerala High Court in the case of Meenachil Rubber Marketing and Processing Co-operative Society Ltd. Vs. CIT reported in [1992] 193 ITR 108 has held as under : “The assessee a cooperative society, purchased raw latex from its members and processed the same by centrifugal method and sold the commodity. The assessee contended that eh income derived by sale of the latex of the members of the society after processing was exempt u/s 80P(2)(a)(iii) of the Act. The ITO rejected the claim f…