PCIT v. Gunja Samabay Krishi Unnayan Samity Ltd.

147 Taxmann.com 518High Court2013#958 most cited

What is PCIT v. Gunja Samabay Krishi Unnayan Samity Ltd. authority for?

Interest income earned by a cooperative credit society from its funds parked with nationalized and commercial banks is construed as profits and gains of business, eligible for deduction under section 80P(2)(a)(i).

111

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2023 to 2026.

Also referred to as

PCIT v Gunja Samabay Krishi Unnayan Samity Ltd · 147 Taxmann.com 518 · section 80P(2)(a)(i) · interest income · cooperative credit society · business income · deduction

Sections most often in play

Section 80P(2)(a)(i)Section 80P(2)(d)Section 143(3)Section 250Section 263Section 80P(4)Section 2(19)Section 80P

Issues it is cited on

section 57(i)section 80(2)(d)section 80(p)(2)(a)section 286section 161section 80p(2)(c)section 60interest on securitiessection 2(19)section 21section 80p(4)section 80p(2)(a)

Judgments citing PCIT v. Gunja Samabay Krishi Unnayan Samity Ltd.

Matoshri Nagari Sahakari Pat Sanstha Maryadit, Pune vs. Principal Commissioner of Income Tax, -4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 213/PUN/2023[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Ajinkaya Madhyamik Shikahak Sevak Sah. Patsanstha Marayadit, Satara vs. Principal Commissioner of Income Tax-3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 186/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Kadepathar Gramin Bigar Sheti Sahakari Path Sanstha, Maryadit, Pune vs. Principal Commissioner of Income Tax-4, Pune

In the result, the appeal filed by the assessee in ITA

ITA 889/PUN/2022[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Shree Ghadgenath Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Karad vs. Principal Commissioner of Income-Tax -3, Pune

In the result, the appeal filed by the assessee in ITA

ITA 771/PUN/2022[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Sai Prerna Co-Op. Credit Society Ltd, Mumbai vs. ITO WD 17(3) (2), Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 221/MUM/2023[2016-17]Status: DisposedITAT Mumbai27 Apr 2023AY 2016-17

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…

Sai Prerna Co-Op. Credit Society Ltd, Mumbai vs. ITO WD 17(3) (2), Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 220/MUM/2023[2016-17]Status: DisposedITAT Mumbai27 Apr 2023AY 2016-17

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…

Sai Prerna Co-Op. Credit Society Ltd, Mumbai vs. ITO WD 17(3) (2), Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 217/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 Apr 2023AY 2013-14

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…

ITO-26(2)(1), Mumbai vs. Sai Prerana Co-Op Credit Society Ltd, Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 195/MUM/2023[2020-21]Status: DisposedITAT Mumbai27 Apr 2023AY 2020-21

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…

Income Tax Officer-26(2)(1), Mumbai vs. Sai Prerana Co-Op Credit Society Ltd., Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 194/MUM/2023[2018-19]Status: DisposedITAT Mumbai27 Apr 2023AY 2018-19

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…

ITO-26(2)(1), Mumbai vs. Sai Prerana Co-Op Credit Society Ltd, Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 193/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Apr 2023AY 2017-18

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…

Income Tax Officer-26(2)(1), Mumbai vs. Sai Prerana Co-Op Credit Society Ltd., Mumbai

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

ITA 192/MUM/2023[2016-17]Status: DisposedITAT Mumbai27 Apr 2023AY 2016-17

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Milind S. Chavan, DR
Section 139(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 217, 220 & 221, 218 & 219, 215, 214/MUM/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-op Credit ITO-17(3)(2), Society Ltd., Room No. 126, 1st floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 to C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. PAN No. AADTS 5638 M Appellant Respondent ITA Nos. 192, 193, 194 & 195/MUM/2023…