What is PCIT v. Peroorkada Service Co-op. Bank Ltd. authority for?

Interest income earned by a co-operative society from deposits with other co-operative banks, such as district or state co-operative banks, is eligible for deduction under Section 80P(2)(d) of the Income-tax Act, as it is considered income from other sources.

How many judgments cite PCIT v. Peroorkada Service Co-op. Bank Ltd.?

208 judgments on BharatTax cite PCIT v. Peroorkada Service Co-op. Bank Ltd. (442 ITR 141), spanning 2019 to 2026.

Which sections of the Income Tax Act does PCIT v. Peroorkada Service Co-op. Bank Ltd. come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(2)(a)(i), Section 80P, Section 143(3), Section 144B, Section 56.

PCIT v. Peroorkada Service Co-op. Bank Ltd. (442 ITR 141)

Mannam Service Co Operative Bank Limited E 277, Mannam vs. Assessment Unit Income Tax Department, Aluva

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

ITA 705/COCH/2024[2020-21]Status: DisposedITAT Cochin23 Apr 2025AY 2020-21

Bench: Shri Inturi Rama Rao & Shri Soundararajan K.Assessment Year : 2020-21

For Appellant: Smt. Leena Lal, Snr. ARFor Respondent: None

Section 56Section 80P

…e commercial banks as well as the co-operative banks as eligible for deduction u/s. 80P of the Act but remitted the other addition to the AO for fresh consideration. The Ld.CIT(A) had relied on the judgment of the Hon’ble Jurisdictional High Court reported in 442 ITR 141 (Kerala) in the case of Peroorkada Service Cooperative Bank to disallow the claim of deduction on the interest income received from the commercial as well as the co-operative banks. The assessee is in appeal before this Tribunal challenging the said order. 3. At the time of hearing, the Ld.AR submitted that the Ld.CIT(A) had failed to consider t…

Income Tax Officer, Kowdiar vs. The Kerala University Employees Co-Operative Society Limited, Kerala University Campus

In the result, The appeal filed by Revenue stands dismissed

ITA 838/COCH/2024[2020-21]Status: DisposedITAT Cochin09 Apr 2025AY 2020-21

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

For Appellant: Smt. Leena Lal, Sr. D.RFor Respondent: Ms. Binisha Baby, Advocate

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

…d, the learned counsel for the assessee submitted that interest income earned from co-operative society qualifies for deduction in view of the decision of the Hon'ble Jurisdictional High Court in the case Pr. CIT vs. Peroorkada Service Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) and interest income earned on investments made with treasury and SBI qualifies for deduction in view of the decision of the Hon'ble Jurisdictional High Court in the case of CIT vs. Sahyadri Co-operative Credit Society Ltd. in ITA No. 63 of 2019. 7. We have heard the rival contentions and perused the material available on record. The issue i…

Mallappally Service Co-Operative Bank Ltd No. A 155, Pathanamthitta vs. ITO, Ward-1 & Tps, Pathanamthitta

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

ITA 816/COCH/2024[2018-19]Status: DisposedITAT Cochin09 Apr 2025AY 2018-19

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

For Appellant: Ms. Pooja V., AdvocateFor Respondent: Smt. Leena Lal, Sr. D.R

Section 143(3)Section 63Section 64Section 80PSection 80P(2)(d)Section 80P(2)(i)

…pellant is eligible to claim deduction u/s. 80P(2)(d) of the Act in respect of interest income earned from co-operative banks following the decision of the Hon'ble Jurisdictional High Court in the case of Pr. CIT vs. Peroorkada Service Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker). However, confirmed the addition made on account of interest received from banks other than co-operative banks of Rs. 14,78,544/-. 4. Being aggrieved, the appellant is in appeal before us in the present appeal. 5. We have heard rival contentions and perused the material available on record. 6. Learned CIT- DR vehemently argued that such…

Mahe Service Co-Operative Credit Society Ltd, Kozhikode vs. ITO, Ward-1 & Tps, Kannur

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

ITA 1062/COCH/2024[2022-23]Status: DisposedITAT Cochin09 Apr 2025AY 2022-23

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.Arun Raj S, AdvocateFor Respondent: Smt.Leena Lal, Sr.AR

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

…y. 5. The lower authorities thoroughly erred in not considering the judgment of the jurisdictional High Court in the case of PCIT Vs Peroorkada Service Co- operative Bank Ltd [judgment dated 1-11-2021 passed in ITA 323 of 2019 and connected cases- reported in 442 ITR 141(Kerala] wherein the High Court of the Kerala has categorically held that a co-operative society receiving interest/dividend on investment with a Co-operative bank is eligible and entitled for deduction under section 80P (2) (d) of the Income Tax Act. 6. The CIT (Appeals) erred in holding that the appellant is not eligible for deduction claimed un…

The Kannur District Merchants Co-Operative Society Limited, Kannur vs. ITO, Ward 1 and Tps, Kannur

In the result, the appeal filed by the assessee stands allowed

ITA 180/COCH/2025[2018-19]Status: DisposedITAT Cochin08 Apr 2025AY 2018-19

Bench: Shri Inturi Rama Rao

For Appellant: Sri.Akhil Shaji, AdvocateFor Respondent: Smt.Leena Lal, Senior AR

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member ITA No.180/Coch/2025 : Asst.Year 2018-2019 The Kannur District Merchants The Income Tax Officer Co-operative Society Limited v. Ward 1 & TPS (Formerly Kannur Jilla Vyapari Kannur. Vyavasai Kshema Sahakarana Sangham Ltd.) No.C-1728 Vyapara Bhavn, Parakandy Kannur – 670 001. PAN : AACAK4660K. (Appellant) (Respondent) Appellant by : Sri.Akhil Shaji, Advocate Respondent by : Smt.Leena Lal, Senior AR Date of Date of Hearing : 13.03.2025 Pronouncement : 08.04.2025 O R D E R This appeal filed by the assessee is dire…

The Kerala High Court Employees Credit Co-Operative Society Limited E830, Ernakulam vs. ITO, Corporate Ward 2(1), Kochi

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

ITA 1051/COCH/2024[2020-21]Status: DisposedITAT Cochin08 Apr 2025AY 2020-21

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.M.R.Sasi, AdvocateFor Respondent: Smt.Leena Lal, Sr.AR

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

…y the co-operative society from the co-operative banks qualifies for deduction is now settled by the decision of the Hon’ble jurisdictional High Court in the case of PCIT v. Peroorkada Service Co-operative Bank Ltd. and Vilappil Service Co-operative Bank Ltd. 442 ITR 141 (Ker.). In the light of this, we hold that the appellant is entitled for deduction in respect of interest income earned from co-operative banks u/s.80P(2)(d) of the Act. 8. In the result, the appeals filed by the assessee are allowed. Order pronounced on this 08th day of April, 2025. (George George K) (Inturi Rama Rao) VICE-PRESIDENT ACCOUNTANT…

The Kerala High Court Employees Credit Co-Operative Society Limited E830, Ernakulam vs. ITO, Corporate Ward 2(1), Kochi

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

ITA 1050/COCH/2024[2018-19]Status: DisposedITAT Cochin08 Apr 2025AY 2018-19

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.M.R.Sasi, AdvocateFor Respondent: Smt.Leena Lal, Sr.AR

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

…y the co-operative society from the co-operative banks qualifies for deduction is now settled by the decision of the Hon’ble jurisdictional High Court in the case of PCIT v. Peroorkada Service Co-operative Bank Ltd. and Vilappil Service Co-operative Bank Ltd. 442 ITR 141 (Ker.). In the light of this, we hold that the appellant is entitled for deduction in respect of interest income earned from co-operative banks u/s.80P(2)(d) of the Act. 8. In the result, the appeals filed by the assessee are allowed. Order pronounced on this 08th day of April, 2025. (George George K) (Inturi Rama Rao) VICE-PRESIDENT ACCOUNTANT…

The Kerala High Court Employees Credit Co-Operative Society Limited E830, Ernakulam vs. ITO, Corporate Ward 2(1), Kochi

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

ITA 1049/COCH/2024[2017-18]Status: DisposedITAT Cochin08 Apr 2025AY 2017-18

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.M.R.Sasi, AdvocateFor Respondent: Smt.Leena Lal, Sr.AR

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

…y the co-operative society from the co-operative banks qualifies for deduction is now settled by the decision of the Hon’ble jurisdictional High Court in the case of PCIT v. Peroorkada Service Co-operative Bank Ltd. and Vilappil Service Co-operative Bank Ltd. 442 ITR 141 (Ker.). In the light of this, we hold that the appellant is entitled for deduction in respect of interest income earned from co-operative banks u/s.80P(2)(d) of the Act. 8. In the result, the appeals filed by the assessee are allowed. Order pronounced on this 08th day of April, 2025. (George George K) (Inturi Rama Rao) VICE-PRESIDENT ACCOUNTANT…

Mylapra Service Co Operative Bank Ltd, Pathanamthitta vs. Income Tax Officer, Ward 5, Thiruvalla

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

ITA 1021/COCH/2024[2016-2017]Status: DisposedITAT Cochin08 Apr 2025AY 2016-2017

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: --- None ---For Respondent: Smt.Leena Lal, Sr.AR

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

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George George K, Vice-President & Shri Inturi Rama Rao, Accountant Member ITA No.1021/Coch/2024 :Asst.Year 2016-2017 Mylapra Service Co-operative The Income Tax Officer Bank Limited v. Ward 2 Mylapra Town PO Thiruvalla. Pathanamthitta – 689 678. PAN : AADAM8917E. (Appellant) (Respondent) Appellant by : --- None --- Respondent by :Smt.Leena Lal, Sr.AR Date of Date of Hearing :03.04.2025 Pronouncement : 08.04.2025 O R D E R Per Inturi Rama Rao, AM : This is an appeal filed by the assessee directed against the order of the National Faceless Asses…

The Koothattululam Farmers Service Co-Operative Bank Ltd, Ernakulam vs. ITO, Ward 1 & Tps, Thodupuzha

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

ITA 892/COCH/2024[2021-22]Status: DisposedITAT Cochin02 Apr 2025AY 2021-22

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am Assessment Year: 2021-22 Koothattukulam Farmers Service .......... Appellant Co-Op. Bank Ltd. Koothattukulam P.O., Ernakulam 686662 [Pan: Aaaat3230A] Vs. The Income Tax Officer .......... Respondent Ward -1 & Tps, Thodupuzha Appellant By: Shri C.A. Jojo, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 02.04.2025 Date Of Pronouncement: 02.04.2025

For Appellant: Shri C.A. Jojo, CAFor Respondent: Smt. Leena Lal, Sr. D.R

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

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH BEFORE SHRI GEORGE GEORGE K., VP AND SHRI INTURI RAMA RAO, AM Assessment Year: 2021-22 Koothattukulam Farmers Service .......... Appellant Co-op. Bank Ltd. Koothattukulam P.O., Ernakulam 686662 [PAN: AAAAT3230A] vs. The Income Tax Officer .......... Respondent Ward -1 & TPS, Thodupuzha Appellant by: Shri C.A. Jojo, CA Respondent by: Smt. Leena Lal, Sr. D.R. Date of Hearing: 02.04.2025 Date of Pronouncement: 02.04.2025 O R D E R Per: George George K., VP This appeal at the instance of the assessee is directed against the order of the National Faceless Appeal Ce…

The Morbi Citizens Credit Co-Oprative Society Limited, Morvi vs. Assessment Unit, Income Tax Department

In the result, appeal filed by the assessee is allowed

ITA 285/RJT/2024[2020-2021]Status: DisposedITAT Rajkot27 Mar 2025AY 2020-2021

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं./Ita No.285/Rjt/2024 Assessment Year: (2020-21) (Hybrid Hearing) The Morbi Citizens Credit Co- Vs. The Assessment Unit, Operative Society Ltd., Income Tax Department Above Murlidhar Sales National Faceless Agency, Savsar Plot, Ram Assessment Center Chowk, Morbid - 363641 (Nfac), Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabat2850K (Appellant) (Respondent)

For Appellant: Shri J.R. Mankodi, Ld. A.RFor Respondent: Shri Sanjay Pungalia, Ld.CIT.DR

Section 142(1)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ars Co-operative Sale Society Ltd(supra) is in the context of Section 80P(2)(a)(i) of the Act and is distinguishable and has been distinguished by lower courts in many judgements which are reproduced below: (a) Peroorkada Service Co-operative Bank Ltd. (2022) 442 ITR 141 (Kerala HC) (b) Totagars Co-operative Sale Society (2017) 392 ITR 74 (Karnataka HC) (c) Vavveru Co-operative Rural Bank Ltd. (2017) 88 taxmann.com 728 (Andhra Pradesh and Telangana HC) (d) State Bank of India vs Commissioner of Income-tax (2016) 389 ITR 578 (Guj. HC); AY 2020-21. Morbi Citizen Credit Co-op Soc. Ltd (e) The Uttar Gujarat Uma Co-op…

Kolavalloor Service Co-Operative Bank Ltd, Kannur vs. ITO, Ward-2, Kannur

In the result, the appeal filed by the assessee stands allowed

ITA 129/COCH/2025[2015-16]Status: DisposedITAT Cochin27 Mar 2025AY 2015-16

Bench: Shri Inturi Rama Rao

For Appellant: Sri.Arun Raj S, AdvocateFor Respondent: Smt.Leena Lal, Senior AR

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member ITA No.129/Coch/2025 : Asst.Year 2015-2016 Kolavalloor Service Co-operative The Income Tax Officer Bank Limited, Cheruparamba v. Ward 2 Thalassery Kannur. Kannur – 670 693. PAN : AACAK2696M. (Appellant) (Respondent) Appellant by : Sri.Arun Raj S, Advocate Respondent by : Smt.Leena Lal, Senior AR Date of Date of Hearing : 13.03.2025 Pronouncement : 27.03.2025 O R D E R This appeal filed by the assessee is directed against the order of the National Faceless Assessment Centre / Commissioner of Income- tax (Appea…

Guruvayur Vyapari Vyavasayi Co Operative Society Ltd, Guruvayur vs. Income Tax Officer, Guruvayur

In the result, the appeal filed by the assessee stands allowed

ITA 187/COCH/2024[2017-18]Status: DisposedITAT Cochin27 Mar 2025AY 2017-18

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2017-18 Guruvayur Vyapari Vyavasayi Co-Op. .......... Applicant Society Ltd. Vyapari Bhavan, Inner Ring Road Guruvayur, Thrissur 680101 [Pan: Aacag0215C] Vs. The Income Tax Officer .......... Respondent Ward - 1 & Tps, Guruvayur Applicant By: Shri Ramdas, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 12.03.2025 Date Of Pronouncement: 27.03.2025

For Respondent: Smt. Leena Lal, Sr. D.R

Section 139(1)Section 143(3)Section 239Section 80PSection 80P(2)(a)Section 80P(2)(d)

…material available on record. I notice that the issue relates to interest income received from the District Co-operative bank stands adjudicated by Hon'ble Jurisdictional High Court’s decision in the case of PCIT v. Peroorkada Service Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) wherein their Lordships have rejected the Revenue’s identical stand as under: - “12.2 Section 80P deals with Co-operative Societies' computation of income. As already noted, it has four sections and several sub-sections and clauses. The Parliament has considered the various situations in which the exigible income and the deductable income o…

Muliyar Agriculturist Welfare Co-Operative Society Ltd, Kasargod vs. The ITO Ward 1 & Tps, Kasargod

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

ITA 455/COCH/2023[2017-18]Status: DisposedITAT Cochin27 Mar 2025AY 2017-18

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2017-18 Muliyar Agriculturist Welfare .......... Appellant Co-Operative Society Ltd. 374, Bovikanam Post, Muliyar, Kasaragod [Pan: Aafam1658Q] Vs. The Income Tax Officer .......... Respondent Ward - 1 & Tps, Kasaragod

For Appellant: Shri Suresh Kumar, CAFor Respondent: Smt. Leena Lal, Sr. D.R

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

…co-operative banks. Since 4 Muliyar Agriculturist Welfare Co-op. Society Ltd. the issue is no longer res integra as it is settled by the decision of the Hon'ble Jurisdictional High Court in the case of Pr. CIT vs. Peroorkada Service Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) which reads as under: - “12.2 Section 80P deals with Co-operative Societies' computation of income. As already noted, it has four sections and several sub-sections and clauses. The Parliament has considered the various situations in which the exigible income and the deductable income of the assessee is considered while computing the income…

Income Tax Officer Ward 1(4), Nagpur vs. Rahi Mahila Nagri Sahakari Patsanstha Limited, Nagpur

In the result, appeal by the Revenue stands dismissed

ITA 56/NAG/2025[2020-21]Status: DisposedITAT Nagpur21 Mar 2025AY 2020-21

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Ms. Alfiya RozieFor Respondent: Shri Abhay Y. Marathe

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

…harged as income from the head "Other Sources only. In the context of admissibility of interest income u/s 80P, it would be pertinent to mention here that the High Court of Kerala in the case of PCIT vs. Peroorkada Service Co-Operative Bank Ltd. [vide: (2022) 442 ITR 141 (Kerala)], has held that, Interest income from investments with co-operative societies registered under state co-operative Societies Act Including interest income from Co- operative banks, is eligible for deduction under section 80P(2)(d) of the Income Tax Act. 3 Rahi Mahila Nagri Sahakari Patsanstha Ltd. ITA no.56/Nag./2025 4.4.2 Further, it w…

Sultanpur Juth Seva Sahakari Mandali Ltd., Sultanpur, Tal. Gondal, Dist. Rajkot vs. The DCIT, Circle-1 (1), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 697/RJT/2024[2018-19]Status: DisposedITAT Rajkot27 Feb 2025AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.492 & 493 & 697/Rjt/2024 ("नधा"रण वष"/Assessment Year: (2018-19 & 2020-21) Sultanpur Juth Seva Sahkari Assessment Unit, Nfac Mandali Ltd. (Present Juris. Acit-Dcit Vs. Cir-1(1) Sultanpur, At Sultanpur Tal: Gondal, Dist. It Office, New Aayakar Bhavan, Vatiaka, Rajkot – 364470 Rajkot - 360001 "थायी लेखा सं./जीआइआरसं./Pan/Gir No.: Aaabs0194F (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sulabh Pad Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR

Section 142(1)Section 143(3)Section 270ASection 80P(2)(a)Section 80P(2)(d)

…ITA No. 492 & 493 & 697 /Rjt/2024 ( AY. 2018-19 & 2020-21) Section 80P(2)(a)(i) of the Act and is distinguishable and has been distinguished by lower courts in many judgements which are reproduced below: (a) Peroorkada Service Co-operative Bank Ltd. (2022) 442 ITR 141 (Kerala HC) (b) Totagars Co-operative Sale Society (2017) 392 ITR 74 (Karnataka HC) (c) Vavveru Co-operative Rural Bank Ltd. (2017) 88 taxmann.com 728 (Andhra Pradesh and Telangana HC) (d) State Bank of India vs Commissioner of Income-tax (2016) 389 ITR 578 (Guj. HC); (e) The Uttar Gujarat Uma Co-op. Credit Society Ltd. in ITA Nos. 1670, 1671/A/2…

Sultanpur Juth Seva Sahkari Mandli Ltd, Rajkot vs. Assessment Unit, NFAC (Present Juris. ACIT-DCIT Cir 1(1), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 493/RJT/2024[2020-21]Status: DisposedITAT Rajkot27 Feb 2025AY 2020-21

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.492 & 493 & 697/Rjt/2024 ("नधा"रण वष"/Assessment Year: (2018-19 & 2020-21) Sultanpur Juth Seva Sahkari Assessment Unit, Nfac Mandali Ltd. (Present Juris. Acit-Dcit Vs. Cir-1(1) Sultanpur, At Sultanpur Tal: Gondal, Dist. It Office, New Aayakar Bhavan, Vatiaka, Rajkot – 364470 Rajkot - 360001 "थायी लेखा सं./जीआइआरसं./Pan/Gir No.: Aaabs0194F (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sulabh Pad Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR

Section 142(1)Section 143(3)Section 270ASection 80P(2)(a)Section 80P(2)(d)

…ITA No. 492 & 493 & 697 /Rjt/2024 ( AY. 2018-19 & 2020-21) Section 80P(2)(a)(i) of the Act and is distinguishable and has been distinguished by lower courts in many judgements which are reproduced below: (a) Peroorkada Service Co-operative Bank Ltd. (2022) 442 ITR 141 (Kerala HC) (b) Totagars Co-operative Sale Society (2017) 392 ITR 74 (Karnataka HC) (c) Vavveru Co-operative Rural Bank Ltd. (2017) 88 taxmann.com 728 (Andhra Pradesh and Telangana HC) (d) State Bank of India vs Commissioner of Income-tax (2016) 389 ITR 578 (Guj. HC); (e) The Uttar Gujarat Uma Co-op. Credit Society Ltd. in ITA Nos. 1670, 1671/A/2…

Sultanpur Juth Seva Sahkari Mandli Ltd, Rajkot vs. Assessment Unit, NFAC (Present Juris. ACIT-Dict Cir 1(1) Rajkot), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 492/RJT/2024[2018-19]Status: DisposedITAT Rajkot27 Feb 2025AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.492 & 493 & 697/Rjt/2024 ("नधा"रण वष"/Assessment Year: (2018-19 & 2020-21) Sultanpur Juth Seva Sahkari Assessment Unit, Nfac Mandali Ltd. (Present Juris. Acit-Dcit Vs. Cir-1(1) Sultanpur, At Sultanpur Tal: Gondal, Dist. It Office, New Aayakar Bhavan, Vatiaka, Rajkot – 364470 Rajkot - 360001 "थायी लेखा सं./जीआइआरसं./Pan/Gir No.: Aaabs0194F (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sulabh Pad Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR

Section 142(1)Section 143(3)Section 270ASection 80P(2)(a)Section 80P(2)(d)

…ITA No. 492 & 493 & 697 /Rjt/2024 ( AY. 2018-19 & 2020-21) Section 80P(2)(a)(i) of the Act and is distinguishable and has been distinguished by lower courts in many judgements which are reproduced below: (a) Peroorkada Service Co-operative Bank Ltd. (2022) 442 ITR 141 (Kerala HC) (b) Totagars Co-operative Sale Society (2017) 392 ITR 74 (Karnataka HC) (c) Vavveru Co-operative Rural Bank Ltd. (2017) 88 taxmann.com 728 (Andhra Pradesh and Telangana HC) (d) State Bank of India vs Commissioner of Income-tax (2016) 389 ITR 578 (Guj. HC); (e) The Uttar Gujarat Uma Co-op. Credit Society Ltd. in ITA Nos. 1670, 1671/A/2…

Vadakkevila Service Co Operative Bank Ltd, Kollam vs. Income-Tax Office, Ward 2, Kollam

In the result, the appeals filed by the assessee stand allowed

ITA 46/COCH/2025[2014-15]Status: DisposedITAT Cochin24 Feb 2025AY 2014-15

Bench: Shri Inturi Rama Rao, Am

For Appellant: Shri N.S. Panicker, CAFor Respondent: Smt. Leena Lal, Sr. D.R

Section 143(3)Section 148Section 80PSection 80P(2)(a)

…lity of interest income earned by the appellant society from co-operative bank. The issue is no longer res integra as it stands settled by the decision of the Hon'ble Jurisdictional High Court in the case of PCIT v. Peroorkada Service Co- op. Bank Ltd. [2022] 442 ITR 141 (Ker) wherein their Lordships have rejected the Revenue’s identical stand as under: - “12.2 Section 80P deals with Co-operative Societies' computation of income. As already noted, it has four sections and several sub-sections and clauses. The Parliament has considered the various situations in which the exigible income and the deductable income…

Vadakkevila Service Co Operative Bank Ltd, Kollam vs. Income-Tax Office, Ward 2, Kollam

In the result, the appeals filed by the assessee stand allowed

ITA 45/COCH/2025[2013-14]Status: DisposedITAT Cochin24 Feb 2025AY 2013-14

Bench: Shri Inturi Rama Rao, Am

For Appellant: Shri N.S. Panicker, CAFor Respondent: Smt. Leena Lal, Sr. D.R

Section 143(3)Section 148Section 80PSection 80P(2)(a)

…lity of interest income earned by the appellant society from co-operative bank. The issue is no longer res integra as it stands settled by the decision of the Hon'ble Jurisdictional High Court in the case of PCIT v. Peroorkada Service Co- op. Bank Ltd. [2022] 442 ITR 141 (Ker) wherein their Lordships have rejected the Revenue’s identical stand as under: - “12.2 Section 80P deals with Co-operative Societies' computation of income. As already noted, it has four sections and several sub-sections and clauses. The Parliament has considered the various situations in which the exigible income and the deductable income…

PCIT v. Peroorkada Service Co-op. Bank Ltd.

What is PCIT v. Peroorkada Service Co-op. Bank Ltd. authority for?

Also referred to as

Sections most often in play

Issues it is cited on

Judgments citing PCIT v. Peroorkada Service Co-op. Bank Ltd.

Mannam Service Co Operative Bank Limited E 277, Mannam vs. Assessment Unit Income Tax Department, Aluva

Income Tax Officer, Kowdiar vs. The Kerala University Employees Co-Operative Society Limited, Kerala University Campus

Mallappally Service Co-Operative Bank Ltd No. A 155, Pathanamthitta vs. ITO, Ward-1 & Tps, Pathanamthitta

Mahe Service Co-Operative Credit Society Ltd, Kozhikode vs. ITO, Ward-1 & Tps, Kannur

The Kannur District Merchants Co-Operative Society Limited, Kannur vs. ITO, Ward 1 and Tps, Kannur

The Kerala High Court Employees Credit Co-Operative Society Limited E830, Ernakulam vs. ITO, Corporate Ward 2(1), Kochi

The Kerala High Court Employees Credit Co-Operative Society Limited E830, Ernakulam vs. ITO, Corporate Ward 2(1), Kochi

The Kerala High Court Employees Credit Co-Operative Society Limited E830, Ernakulam vs. ITO, Corporate Ward 2(1), Kochi

Mylapra Service Co Operative Bank Ltd, Pathanamthitta vs. Income Tax Officer, Ward 5, Thiruvalla

The Koothattululam Farmers Service Co-Operative Bank Ltd, Ernakulam vs. ITO, Ward 1 & Tps, Thodupuzha

The Morbi Citizens Credit Co-Oprative Society Limited, Morvi vs. Assessment Unit, Income Tax Department

Kolavalloor Service Co-Operative Bank Ltd, Kannur vs. ITO, Ward-2, Kannur

Guruvayur Vyapari Vyavasayi Co Operative Society Ltd, Guruvayur vs. Income Tax Officer, Guruvayur

Muliyar Agriculturist Welfare Co-Operative Society Ltd, Kasargod vs. The ITO Ward 1 & Tps, Kasargod

Income Tax Officer Ward 1(4), Nagpur vs. Rahi Mahila Nagri Sahakari Patsanstha Limited, Nagpur

Sultanpur Juth Seva Sahakari Mandali Ltd., Sultanpur, Tal. Gondal, Dist. Rajkot vs. The DCIT, Circle-1 (1), Rajkot

Sultanpur Juth Seva Sahkari Mandli Ltd, Rajkot vs. Assessment Unit, NFAC (Present Juris. ACIT-DCIT Cir 1(1), Rajkot

Sultanpur Juth Seva Sahkari Mandli Ltd, Rajkot vs. Assessment Unit, NFAC (Present Juris. ACIT-Dict Cir 1(1) Rajkot), Rajkot

Vadakkevila Service Co Operative Bank Ltd, Kollam vs. Income-Tax Office, Ward 2, Kollam

Vadakkevila Service Co Operative Bank Ltd, Kollam vs. Income-Tax Office, Ward 2, Kollam