Pathare Prabhu Co–operative Housing Society v. ITO

202 ITD 464Income Tax Appellate Tribunal2023#4469 most cited

What is Pathare Prabhu Co–operative Housing Society v. ITO authority for?

Interest income earned by a co-operative housing society from investments in co-operative banks is eligible for deduction under section 80P(2)(d) of the Income Tax Act.

26

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2024 to 2026.

Also referred to as

Pathare Prabhu Co-operative Housing Society v. ITO · 2023 · ITAT · section 80P(2)(d) · deduction · interest income · co-operative banks · co-operative housing society

Sections most often in play

Section 80P(2)(d)Section 80P(4)Section 2(19)Section 250Section 143(3)Section 143(1)Section 144BSection 80P

Issues it is cited on

section 70section 80p(1)section 8osection 2(19)section 80p(4)section 80(p)(2)(d)section 80p(2)(d)gross total incomesection 80p(2)section 80p(2)(a)section 80psection 80p(2)(a)(i)

Judgments citing Pathare Prabhu Co–operative Housing Society v. ITO

Laburnum Mahindra Gardens Co Op Hsg Limited, Mumbai vs. Income Tax Officer - Ward 41(4)(2), Mumbai

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

ITA 3657/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Sept 2024AY 2020-21

Bench: Shri. Prashant Maharshi & Shri. Sandeep Singh Karhail

For Appellant: Ms. Vinita Nara a/w. Shri. Dharan GandhiFor Respondent: Shri. Akhatar Hussain Ansari, Sr. DR
Section 1Section 143(3)Section 2Section 234BSection 250Section 270ASection 3Section 80PSection 80P(2)(d)

…itthal Co-operative Bank, Maharashtra State Co-operative Bank, and Maharashtra district Central co- operative bank. We find that while deciding a similar issue the coordinate bench of the Tribunal in Pathare Prabhu Co–operative Housing Society v/s ITO, (2023) 202 ITD 464 (Mum-Trib), after considering the decisions of the Hon’ble Karnataka High Court and the Hon’ble Supreme Court, as relied upon by the lower authorities in the present case, held that interest income earned from investment with Co-operative Bank is eligible for deduction under section 3 Laburnum Mahindra Gardens Co. Op. Hsg. Limited; A.Y.2020-21 80…

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

ITA 2131/MUM/2024[2021-22]Status: DisposedITAT Mumbai29 Aug 2024AY 2021-22

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

For Appellant: Shri Kalpesh TuralkarFor Respondent: Shri R. R. Makwana
Section 143(1)Section 250Section 80Section 80P(2)(d)

…v/s Totagars Co-operative Sales Society (2017) 392 ITR 74. Thus, there are divergent views of the same high court on this issue. The facts of the assessee’s case are similar to the case of Pathare Prabhu Co-operative Housing Society v/s ITO reported as (2023) 202 ITD 464. Relevant portion of the order is reproduced below: “8. We have considered the submissions of both sides and perused the material available on record. The only dispute raised by the assessee is against the disallowance of deduction under s. 80P(2)(d) of the Act in respect of interest income received from the Co-operative Banks. The assessee is a…

Nityanand Baug Co Operative Society Limited, Mumbai vs. Principal Commissioner of Income Tax, Mumbai

In the result, appeal is allowed in the above terms

ITA 2209/MUM/2024[2018-19]Status: DisposedITAT Mumbai19 Jul 2024AY 2018-19

Bench: Shri. Br Baskaran & Shri. Raj Kumar Chauhannityanand Baug Co-Operative Vs. Principal Commissioner Of Society Limited Income Tax Plot No. 80/83, Nity Anand Baug, R. Tower No. 6, Vashi Railway C. Marg, Chembur, Mumbai – 400 Station, Commercial Complex, 074. Vashi Navi Mumbai – 400 Pan: Aaaan6410C 703. (Appellant) (Respondent)

Section 142(1)Section 143(2)Section 263Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE SHRI. BR BASKARAN, ACCOUNTANT MEMBER AND SHRI. RAJ KUMAR CHAUHAN, JUDICIAL MEMBER Nityanand Baug Co-operative Vs. Principal Commissioner of Society Limited Income Tax Plot No. 80/83, Nity Anand Baug, R. Tower No. 6, Vashi Railway C. Marg, Chembur, Mumbai – 400 Station, Commercial Complex, 074. Vashi Navi Mumbai – 400 PAN: AAAAN6410C 703. (Appellant) (Respondent) Assessee Represented by : Shri. Dinesh R. Shah & Shri. B. R. Vyas Department Represented by : Shri. Dr. Mahesh Akhade, CIT DR. Date of conclusion of Hearing : 01.07.2024 Date of Pronoun…

ITO-22(1)(6), Mumbai vs. Ahuja Tower Co Operative Housing Society Ltd., Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 1060/MUM/2024[2018-19]Status: DisposedITAT Mumbai20 Jun 2024AY 2018-19

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Harmesh Lal, Sr. DR
Section 143Section 143(3)Section 250Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.1060/Mum./2024 (Assessment Year : 2018-19) ITO-22(1)(6) ……………. Appellant Room No. 108, Piramal Chambers Lal Baug, Parel, Mumbai-400012 v/s Ahuja Tower Co-operative Housing Society Ltd Plot No. 1087 and 1088, Ahuja ……………. Respondent Tower Co-op Hsg Soc Ltd, Rajabhau Anant Desai Marg Mumbai-400025 PAN – AAFAA0125I Assessee by : Shri Anil Sathe Revenue by : Shri Harmesh Lal, Sr. DR Date of Hearing – 06/06/2024 Date of Order – 20/06/2024 O R D E R PE…

Income Tax Officer-22(1)(6), Mumbai vs. Ahuja Tower Co Operative Housing Society Limited, Mumbai

In the result, the appeal by the assessee is allowed, while the appeal by the Revenue is dismissed

ITA 859/MUM/2024[2020-21]Status: DisposedITAT Mumbai19 Jun 2024AY 2020-21

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Sunny Kachhwaha
Section 142(1)Section 143(2)Section 250Section 80P(2)(d)

…t eligible for deduction under section 80P(2)(d) of the Act and should be treated as “income from other sources” under section 56 of the Act. We find that the coordinate bench of the Tribunal in Pathare Prabhu Co–operative Housing Society Ltd. v/s ITO, [2023] 202 ITD 464 (Mum-Trib.), while dealing with the aforesaid decision of the Ahuja Tower Co-operative Housing Society Ltd ITA no.644/Mum./2024 ITA no. 859/Mum./2024 Hon’ble Karnataka High Court in Totagars Co-operative Sales Society (supra) in the context of claim of deduction under section 80P(2)(d) of the Act, observed as follows:- “13. We find that the lear…

Ahuja Tower Co-Operative Housing Society Limited, Mumbai vs. Jurisdiction Ward 22(1)(6), Piramal Chamber, Mumbai

ITA 644/MUM/2024[2020-21]Status: DisposedITAT Mumbai19 Jun 2024AY 2020-21

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Sunny Kachhwaha
Section 142(1)Section 143(2)Section 250Section 80P(2)(d)

…t eligible for deduction under section 80P(2)(d) of the Act and should be treated as “income from other sources" under section 56 of the Act. We find that the coordinate bench of the Tribunal in Pathare Prabhu Co-operative Housing Society Ltd. v/s ITO, [2023] 202 ITD 464 (Mum-Trib.), while dealing with the aforesaid decision of the Hon'ble Karnataka High Court in Totagars Co-operative Sales Society (supra) in context of claim of deduction under section 80P(2)(d) of the Act, observed as follows:- “13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr.CI…