PCIT v. Ashwinkumar Arban Co-Operative Society Ltd.

168 Taxmann.com 314High Court2024#1862 most cited

What is PCIT v. Ashwinkumar Arban Co-Operative Society Ltd. authority for?

Interest earned by a cooperative society from investments made with a cooperative bank is eligible for deduction under section 80P(2)(d).

61

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2024 to 2026.

Also referred to as

PCIT v. Ashwinkumar Urban Co-operative Society Ltd · section 80P(2)(d) · deduction · cooperative bank · interest income

Sections most often in play

Section 80P(2)(d)Section 80P(4)Section 263Section 80PSection 250Section 143(3)Section 194A(3)(v)Section 142(1)

Issues it is cited on

section 80(p)(4)section 194a(3)(v)section 2(u)section 5(b)section 22(1)(b)section 80(p)(2)section 80p(2)(c)(ii)prejudicial to interest of revenuesection 22(1)section 80p(2)(c)section 80p(4)section 80p(1)

Judgments citing PCIT v. Ashwinkumar Arban Co-Operative Society Ltd.

Ratneshwari Co.Op.Credit Society Ltd., Mehsana vs. The ACIT., Patan Circle, Patan

The appeal of the assessee is hereby allowed

ITA 1409/AHD/2024[2013-14]Status: DisposedITAT Ahmedabad29 Nov 2024AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice-

For Appellant: Shri SN Divatia, AR & Shri Samir Vora, ARFor Respondent: Ms. Neeju Gupta, Sr DR
Section 194A(3)(v)Section 250Section 263Section 80PSection 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT I.T.A. No. 1409/Ahd/2024 (Assessment Year: 2013-14) Ratneshwari Co. Op. Credit ACIT, Vs. Society Limited, Patan Circle, Patel Pura, At. Post. Pilwai, Patan Tal. Vijapur, Mehsana-382850 PAN : AAAAR 2179 N (Appellant) .. (Respondent) Appellant by : Shri SN Divatia, AR & Shri Samir Vora, AR Respondent by: Ms. Neeju Gupta, Sr DR Date of Hearing 26.11.2024 Date of Pronouncement 29.11.2024 O R D E R This appeal has been filed by the Assessee against the order passed by the Ld. ADDL/JCIT(A)-2, Lucknow (hereinafter refer…