PCIT v. Sahyadri Co-op Credit Society Ltd.

166 Taxmann.com 445High Court2024#2158 most cited

What is PCIT v. Sahyadri Co-op Credit Society Ltd. authority for?

Interest income earned by a cooperative credit society from its funds parked with nationalized and commercial banks is considered business income and is eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act.

53

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2025 to 2026.

Also referred to as

PCIT v. Sahyadri Co-operative Credit Society Ltd · 166 taxmann.com 445 · section 80P(2)(a)(i) · cooperative credit society · interest income · business income · deduction

Sections most often in play

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

Issues it is cited on

section 57(i)section 80(2)(d)section 80(p)(2)(a)section 286section 161section 80p(2)(c)section 60section 270a(6)(a)section 63interest on securitiessection 64section 2(19)

Judgments citing PCIT v. Sahyadri Co-op Credit Society Ltd.

Shivagiri Co-Op Credit Society Ltd, Belagavi vs. Income Tax Officer, Ward - 1(3), Belagavi

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 138/PAN/2024[2017-18]Status: DisposedITAT Panaji28 Nov 2025AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…Akshaya Co-Op credit society Limited & others. IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G. D. PADMAHSHALI ACCOUNTANT MEMBER Assessee S. Appeal No PAN of the Asst Yr Appellant Respondent Represented No. (ITA) Assessee by ITO, Wd 2, 1 158/PAN/2023 2014-15 Karwar ITO, Wd 1, 2 159/PAN/2023 2017-18 Karwar Akshaya Co-op Ms. Shree ITO Wd 2, 3 160/PAN/2023 2018-19 Credit Society AAAAA3196N Raksha D Karwar Limited National Faceless e- 4 161/PAN/2023 2020-21 Assessment centre, Delhi 5 255/PAN/2024 2015-16 ITO, Wd 2(4), Panaji 6 285/PAN/2024 2016-17…

Shree Mahila Credit Souhard Sahakari Sangh Niyamit, Belagavi vs. ITO Ward 1 Belagavi, Belagavi

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 117/PAN/2024[2018-19]Status: DisposedITAT Panaji28 Nov 2025AY 2018-19

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…Akshaya Co-Op credit society Limited & others. IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G. D. PADMAHSHALI ACCOUNTANT MEMBER Assessee S. Appeal No PAN of the Asst Yr Appellant Respondent Represented No. (ITA) Assessee by ITO, Wd 2, 1 158/PAN/2023 2014-15 Karwar ITO, Wd 1, 2 159/PAN/2023 2017-18 Karwar Akshaya Co-op Ms. Shree ITO Wd 2, 3 160/PAN/2023 2018-19 Credit Society AAAAA3196N Raksha D Karwar Limited National Faceless e- 4 161/PAN/2023 2020-21 Assessment centre, Delhi 5 255/PAN/2024 2015-16 ITO, Wd 2(4), Panaji 6 285/PAN/2024 2016-17…

Akshaya Co-Operative Credit Society Limited, Karwar vs. Income Tax Officer, Ward - 1(1), Karwar

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 161/PAN/2023[2020-21]Status: DisposedITAT Panaji28 Nov 2025AY 2020-21

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…Akshaya Co-Op credit society Limited & others. IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G. D. PADMAHSHALI ACCOUNTANT MEMBER Assessee S. Appeal No PAN of the Asst Yr Appellant Respondent Represented No. (ITA) Assessee by ITO, Wd 2, 1 158/PAN/2023 2014-15 Karwar ITO, Wd 1, 2 159/PAN/2023 2017-18 Karwar Akshaya Co-op Ms. Shree ITO Wd 2, 3 160/PAN/2023 2018-19 Credit Society AAAAA3196N Raksha D Karwar Limited National Faceless e- 4 161/PAN/2023 2020-21 Assessment centre, Delhi 5 255/PAN/2024 2015-16 ITO, Wd 2(4), Panaji 6 285/PAN/2024 2016-17…

Akshaya Co-Operative Credit Society Limited, Karwar vs. Income Tax Officer, Ward - 1(1), Karwar

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 160/PAN/2023[2018-19]Status: DisposedITAT Panaji28 Nov 2025AY 2018-19

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…Akshaya Co-Op credit society Limited & others. IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G. D. PADMAHSHALI ACCOUNTANT MEMBER Assessee S. Appeal No PAN of the Asst Yr Appellant Respondent Represented No. (ITA) Assessee by ITO, Wd 2, 1 158/PAN/2023 2014-15 Karwar ITO, Wd 1, 2 159/PAN/2023 2017-18 Karwar Akshaya Co-op Ms. Shree ITO Wd 2, 3 160/PAN/2023 2018-19 Credit Society AAAAA3196N Raksha D Karwar Limited National Faceless e- 4 161/PAN/2023 2020-21 Assessment centre, Delhi 5 255/PAN/2024 2015-16 ITO, Wd 2(4), Panaji 6 285/PAN/2024 2016-17…

Akshaya Co-Operative Credit Society Limited, Karwar vs. Income Tax Officer, Ward 1(1), Karwar

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 159/PAN/2023[2017-18]Status: DisposedITAT Panaji28 Nov 2025AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…Akshaya Co-Op credit society Limited & others. IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G. D. PADMAHSHALI ACCOUNTANT MEMBER Assessee S. Appeal No PAN of the Asst Yr Appellant Respondent Represented No. (ITA) Assessee by ITO, Wd 2, 1 158/PAN/2023 2014-15 Karwar ITO, Wd 1, 2 159/PAN/2023 2017-18 Karwar Akshaya Co-op Ms. Shree ITO Wd 2, 3 160/PAN/2023 2018-19 Credit Society AAAAA3196N Raksha D Karwar Limited National Faceless e- 4 161/PAN/2023 2020-21 Assessment centre, Delhi 5 255/PAN/2024 2015-16 ITO, Wd 2(4), Panaji 6 285/PAN/2024 2016-17…

Akshaya Co-Operative Credit Society Limited, Karwar vs. Income Tax Officer, Ward - 1(1), Karwar

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 158/PAN/2023[2014-15]Status: DisposedITAT Panaji28 Nov 2025AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…Akshaya Co-Op credit society Limited & others. IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI G. D. PADMAHSHALI ACCOUNTANT MEMBER Assessee S. Appeal No PAN of the Asst Yr Appellant Respondent Represented No. (ITA) Assessee by ITO, Wd 2, 1 158/PAN/2023 2014-15 Karwar ITO, Wd 1, 2 159/PAN/2023 2017-18 Karwar Akshaya Co-op Ms. Shree ITO Wd 2, 3 160/PAN/2023 2018-19 Credit Society AAAAA3196N Raksha D Karwar Limited National Faceless e- 4 161/PAN/2023 2020-21 Assessment centre, Delhi 5 255/PAN/2024 2015-16 ITO, Wd 2(4), Panaji 6 285/PAN/2024 2016-17…

Thottippal Service Cooperative Bank, Thrissur vs. ITO, Ward 2(5), Thrissur

In the result, we dismiss these I

ITA 553/COCH/2025[2020-21]Status: DisposedITAT Cochin01 Sept 2025AY 2020-21

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Smt. Divya RavindranFor Respondent: Smt. Leena Lal, Sr. AR
Section 143(3)Section 250Section 80P(2)(a)Section 80P(2)(d)Section 8O

…IN THE INCOME TAX APPELLATE TRIBUNAL “DB” BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Thottippal Service Co-operative Bank Ltd. Thottippal Service Co-operative Bank Ltd., Thottippal, Thrissur, Kerala- 680310 [PAN: AACAT4740M] …………. Appellant Vs The Income Tax Officer, Ward2(5), Thrissur Central Revenue Building, I.S. Press Road., Kerala- 682018 …………. Respondent Appearance For the Appellant/Assessee : Smt. Divya Ravindran For the Respondent/Department : Smt. Leena Lal, Sr. AR Date Conclusion of hearing : 20.08.2025 Pronouncement of order : 01.09.2025 O R D E R […

Pannivizha Service Cooperative Bank Ltd 891, M G Road Pannivizha vs. ITO, Ward 2, Kollam

In the result, ITA No. 531/Coch/2025 (Assessment Year 2018-2019) and ITA No

ITA 532/COCH/2025[2020-21]Status: DisposedITAT Cochin20 Aug 2025AY 2020-21

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri K. Krishna Kumar, CAFor Respondent: Ms. Neethu S, Sr. DR
Section 250Section 270ASection 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA Nos.527 to 532/COCH/2025 (Assessment Years : 2011-12 to 2014-15, 2018-19 & 2020-21) Pannivizha Service Cooperative bank Ltd. No.891, Pannivizha Adoor, Pathanamthitta, Kerala-691523 [PAN:AABAP9936C] …………. Appellant Vs Assessing Officer, Aayakar Bhavan, Kollam, Kerala– 691001 …………. Respondent Appearance For the Appellant/Assessee : Shri K. Krishna Kumar, CA For the Respondent/Department : Ms. Neethu S, Sr. DR Date Conclusion of hearing : 18.08.2025 Pronouncement of order : 20…

Pannivizha Service Cooperative Bank Ltd 891, M G Road, Pannivizha vs. ITO, Ward 2, Kollam

In the result, ITA No. 531/Coch/2025 (Assessment Year 2018-2019) and ITA No

ITA 531/COCH/2025[2018-19]Status: DisposedITAT Cochin20 Aug 2025AY 2018-19

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri K. Krishna Kumar, CAFor Respondent: Ms. Neethu S, Sr. DR
Section 250Section 270ASection 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA Nos.527 to 532/COCH/2025 (Assessment Years : 2011-12 to 2014-15, 2018-19 & 2020-21) Pannivizha Service Cooperative bank Ltd. No.891, Pannivizha Adoor, Pathanamthitta, Kerala-691523 [PAN:AABAP9936C] …………. Appellant Vs Assessing Officer, Aayakar Bhavan, Kollam, Kerala– 691001 …………. Respondent Appearance For the Appellant/Assessee : Shri K. Krishna Kumar, CA For the Respondent/Department : Ms. Neethu S, Sr. DR Date Conclusion of hearing : 18.08.2025 Pronouncement of order : 20…

Pannivizha Service Cooperative Bank Ltd 891, M G Road Pannivizha vs. ITO, Ward 2, Kollam

In the result, ITA No. 531/Coch/2025 (Assessment Year 2018-2019) and ITA No

ITA 530/COCH/2025[2014-15]Status: DisposedITAT Cochin20 Aug 2025AY 2014-15

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri K. Krishna Kumar, CAFor Respondent: Ms. Neethu S, Sr. DR
Section 250Section 270ASection 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA Nos.527 to 532/COCH/2025 (Assessment Years : 2011-12 to 2014-15, 2018-19 & 2020-21) Pannivizha Service Cooperative bank Ltd. No.891, Pannivizha Adoor, Pathanamthitta, Kerala-691523 [PAN:AABAP9936C] …………. Appellant Vs Assessing Officer, Aayakar Bhavan, Kollam, Kerala– 691001 …………. Respondent Appearance For the Appellant/Assessee : Shri K. Krishna Kumar, CA For the Respondent/Department : Ms. Neethu S, Sr. DR Date Conclusion of hearing : 18.08.2025 Pronouncement of order : 20…

Pannivizha Service Cooperative Bank Ltd 891, M G Road, Pannivizha vs. ITO, Ward 2, Kollam

In the result, ITA No. 531/Coch/2025 (Assessment Year 2018-2019) and ITA No

ITA 529/COCH/2025[2013-14]Status: DisposedITAT Cochin20 Aug 2025AY 2013-14

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri K. Krishna Kumar, CAFor Respondent: Ms. Neethu S, Sr. DR
Section 250Section 270ASection 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA Nos.527 to 532/COCH/2025 (Assessment Years : 2011-12 to 2014-15, 2018-19 & 2020-21) Pannivizha Service Cooperative bank Ltd. No.891, Pannivizha Adoor, Pathanamthitta, Kerala-691523 [PAN:AABAP9936C] …………. Appellant Vs Assessing Officer, Aayakar Bhavan, Kollam, Kerala– 691001 …………. Respondent Appearance For the Appellant/Assessee : Shri K. Krishna Kumar, CA For the Respondent/Department : Ms. Neethu S, Sr. DR Date Conclusion of hearing : 18.08.2025 Pronouncement of order : 20…

Pannivizha Service Cooperative Bank Ltd 891, M G Road Pannivizha vs. ITO, Ward 2, Kollam

In the result, ITA No. 531/Coch/2025 (Assessment Year 2018-2019) and ITA No

ITA 528/COCH/2025[2012-13]Status: DisposedITAT Cochin20 Aug 2025AY 2012-13

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri K. Krishna Kumar, CAFor Respondent: Ms. Neethu S, Sr. DR
Section 250Section 270ASection 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA Nos.527 to 532/COCH/2025 (Assessment Years : 2011-12 to 2014-15, 2018-19 & 2020-21) Pannivizha Service Cooperative bank Ltd. No.891, Pannivizha Adoor, Pathanamthitta, Kerala-691523 [PAN:AABAP9936C] …………. Appellant Vs Assessing Officer, Aayakar Bhavan, Kollam, Kerala– 691001 …………. Respondent Appearance For the Appellant/Assessee : Shri K. Krishna Kumar, CA For the Respondent/Department : Ms. Neethu S, Sr. DR Date Conclusion of hearing : 18.08.2025 Pronouncement of order : 20…

Pannivizha Service Cooperative Bank Ltd 891, Mg Road Pannivizha vs. ITO, Ward 2, Kollam

In the result, ITA No. 531/Coch/2025 (Assessment Year 2018-2019) and ITA No

ITA 527/COCH/2025[2011-12]Status: DisposedITAT Cochin20 Aug 2025AY 2011-12

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri K. Krishna Kumar, CAFor Respondent: Ms. Neethu S, Sr. DR
Section 250Section 270ASection 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA Nos.527 to 532/COCH/2025 (Assessment Years : 2011-12 to 2014-15, 2018-19 & 2020-21) Pannivizha Service Cooperative bank Ltd. No.891, Pannivizha Adoor, Pathanamthitta, Kerala-691523 [PAN:AABAP9936C] …………. Appellant Vs Assessing Officer, Aayakar Bhavan, Kollam, Kerala– 691001 …………. Respondent Appearance For the Appellant/Assessee : Shri K. Krishna Kumar, CA For the Respondent/Department : Ms. Neethu S, Sr. DR Date Conclusion of hearing : 18.08.2025 Pronouncement of order : 20…