Perithalmanna Service Co-operative Bank v. ITO

363 ITR 268High Court2014#1584 most cited
71

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 80PSection 80P(2)(a)(i)Section 143(3)Section 1949Section 80P(4)Section 133(6)Section 147Section 148

Issues it is cited on

section 5(b)section 194a(3)section 80p(1)section 80p(4)section 80p(2)(a)section 80p(2)(a)(i)gross total incomesection 80p(2)section 80p(2)(d)section 56section 80psection 80

Judgments citing Perithalmanna Service Co-operative Bank v. ITO

M/S.Kanayyannur Co-Op Agricultural and Rural Dev Bank Ltd, Ernakulam vs. The ITO, Kochi

ITA 120/COCH/2020[2015-16]Status: DisposedITAT Cochin25 Jun 2020AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.AmaljithFor Respondent: Sri.Mritunjaya Sharma, Sr.DR
Section 80PSection 80P(2)(a)

…visions the IT Act, there was nothing before the Hon'ble High Court to make any opinion on such matters. Moreover the Hon'ble jurisdictional High Court decision is contrary to their own decision in the case of Perinthalammmana Service Co-operative Bank [2004] 363 ITR 268 Kerala Whereas it was held that with introduction of section 80P [4] necessarily an enquiry has to be conducted into financial situation whether co-operative bank is conducting business as a primary agricultural credit society or a primary co-operative agricultural and rural development bank and depending upon transaction, Assessing officer has t…

M/S.Kanayyannur Co-Op Agricultural and Rural Dev Bank Ltd, Ernakulam vs. The ITO, Kochi

ITA 119/COCH/2020[2014-15]Status: DisposedITAT Cochin25 Jun 2020AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.AmaljithFor Respondent: Sri.Mritunjaya Sharma, Sr.DR
Section 80PSection 80P(2)(a)

…visions the IT Act, there was nothing before the Hon'ble High Court to make any opinion on such matters. Moreover the Hon'ble jurisdictional High Court decision is contrary to their own decision in the case of Perinthalammmana Service Co-operative Bank [2004] 363 ITR 268 Kerala Whereas it was held that with introduction of section 80P [4] necessarily an enquiry has to be conducted into financial situation whether co-operative bank is conducting business as a primary agricultural credit society or a primary co-operative agricultural and rural development bank and depending upon transaction, Assessing officer has t…

The ITO, WD-2(5), Thrissur vs. M/S.Thiroor Service Co-Op Bank Ltd, Thrissur

ITA 433/COCH/2019[2015-16]Status: DisposedITAT Cochin04 Sept 2019AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, FCA
Section 80PSection 80P(2)Section 80P(4)

…Banking Regulation Act and Income Tax Act, 1961. There are no differences in the definition of Primary Agricultural Credit Society in the Two Acts as pointed out by the learned Income Tax Officer. The decision of Perinthalmanna Service Co-operative Bank Ltd (363 ITR 268) has no relevance in this case. The reason is that Revisional Authority in that case, issued show cause notice to assessee on the ground that Assessing Officer had not applied his mind with reference to the nature of business conducted by the assessee and lack of this exercise by the Assessing ITA No.431-433/Coch/2019. 5 M/s.Thiroor SCB Ltd. Of…

The ITO, WD-2(5), Thrissur vs. M/S.Thiroor Service Co-Op Bank Ltd, Thrissur

ITA 432/COCH/2019[2014-15]Status: DisposedITAT Cochin04 Sept 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, FCA
Section 80PSection 80P(2)Section 80P(4)

…Banking Regulation Act and Income Tax Act, 1961. There are no differences in the definition of Primary Agricultural Credit Society in the Two Acts as pointed out by the learned Income Tax Officer. The decision of Perinthalmanna Service Co-operative Bank Ltd (363 ITR 268) has no relevance in this case. The reason is that Revisional Authority in that case, issued show cause notice to assessee on the ground that Assessing Officer had not applied his mind with reference to the nature of business conducted by the assessee and lack of this exercise by the Assessing ITA No.431-433/Coch/2019. 5 M/s.Thiroor SCB Ltd. Of…

The ITO, WD-2(5), Thrissur vs. M/S.Thiroor Service Co-Op Bank Ltd, Thrissur

ITA 431/COCH/2019[2013-14]Status: DisposedITAT Cochin04 Sept 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, FCA
Section 80PSection 80P(2)Section 80P(4)

…Banking Regulation Act and Income Tax Act, 1961. There are no differences in the definition of Primary Agricultural Credit Society in the Two Acts as pointed out by the learned Income Tax Officer. The decision of Perinthalmanna Service Co-operative Bank Ltd (363 ITR 268) has no relevance in this case. The reason is that Revisional Authority in that case, issued show cause notice to assessee on the ground that Assessing Officer had not applied his mind with reference to the nature of business conducted by the assessee and lack of this exercise by the Assessing ITA No.431-433/Coch/2019. 5 M/s.Thiroor SCB Ltd. Of…

The ITO, WD-2(5), Thrissur vs. M/S.Thrissur Service Co-Op Bank Ltd, Thrissur

ITA 427/COCH/2019[2015-16]Status: DisposedITAT Cochin04 Sept 2019AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, FCA
Section 80PSection 80P(2)Section 80P(4)

…Banking Regulation Act and Income Tax Act, 1961. There are no differences in the definition of Primary Agricultural Credit Society in the Two Acts as pointed out by the learned Income Tax Officer. The decision of Perinthalmanna Service Co-operative Bank Ltd (363 ITR 268) has no relevance in this case. The reason is that Revisional Authority in that case, issued show cause notice to assessee on the ground that Assessing Officer had not applied his mind with reference to the nature of business conducted by the assessee and lack of this exercise by the Assessing Officer definitely led to an erroneous order which wa…

The ITO, WD-2(5), Thrissur vs. M/S.Thrissur Service Co-Op Bank Ltd, Thrissur

ITA 426/COCH/2019[2014-15]Status: DisposedITAT Cochin04 Sept 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, FCA
Section 80PSection 80P(2)Section 80P(4)

…Banking Regulation Act and Income Tax Act, 1961. There are no differences in the definition of Primary Agricultural Credit Society in the Two Acts as pointed out by the learned Income Tax Officer. The decision of Perinthalmanna Service Co-operative Bank Ltd (363 ITR 268) has no relevance in this case. The reason is that Revisional Authority in that case, issued show cause notice to assessee on the ground that Assessing Officer had not applied his mind with reference to the nature of business conducted by the assessee and lack of this exercise by the Assessing Officer definitely led to an erroneous order which wa…

The ITO, WD-5, Palakkad vs. M/S.the Ayalur Service Co-Op Bank Ltd, Palakkad

ITA 467/COCH/2019[2014-15]Status: FixedITAT Cochin01 Aug 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…497/- claimed by the assessee under section 80P(2) (a) (i) of the Act. 3. The learned Commissioner of Income-tax (Appeals) ought to have appreciated the fact that the Hon. Jurisdictional High Court in the cse of M./s.Perinthalmanna Service Co-operative Bank (363 ITR 268) whgerein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit Society”. 4. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-2(3), Trichur vs. M/S.Nadathara Farmers Service Co-Op Bank Ltd, Nadathara P.O., Trichur

ITA 270/COCH/2019[2009-10]Status: DisposedITAT Cochin01 Aug 2019AY 2009-10

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, FCA
Section 80PSection 80P(2)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.270/Coch/2019 : Asst.Year 2009-2010 The Income Tax Officer M/s.Nadathara Farmers Ward – 2 (3) Vs. Service Co-op. Bank Ltd. Thrissur. Poochatty, Nadathara PO Thrissur – 680 751. PAN : AACAN3695H. (Appellant) (Respondent) Appellant by : Smt.A.S.Bindhu, Sr.DR Respondent by : Sri.M.Ramdas, FCA Date of Pronouncement : 01.08.2019 Date of Hearing : 23.07.2019 O R D E R Per George George K, JM : This appeal at the instance of the Revenue is directed against the order of the CIT(A) dated 05.02…

The ITO, WD-5, Palakkad vs. M/S.Vadakkancherry Co-Op Service Bank Ltd, Palakkad

ITA 470/COCH/2018[2013-14]Status: DisposedITAT Cochin01 Aug 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…497/- claimed by the assessee under section 80P(2) (a) (i) of the Act. 3. The learned Commissioner of Income-tax (Appeals) ought to have appreciated the fact that the Hon. Jurisdictional High Court in the cse of M./s.Perinthalmanna Service Co-operative Bank (363 ITR 268) whgerein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit Society”. 4. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-5, Palakkad vs. M/S.Vadakkancherry Co-Op Service Bank Ltd, Palakkad

ITA 469/COCH/2018[2010-11]Status: DisposedITAT Cochin01 Aug 2019AY 2010-11

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…497/- claimed by the assessee under section 80P(2) (a) (i) of the Act. 3. The learned Commissioner of Income-tax (Appeals) ought to have appreciated the fact that the Hon. Jurisdictional High Court in the cse of M./s.Perinthalmanna Service Co-operative Bank (363 ITR 268) whgerein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit Society”. 4. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-5, Palakkad vs. Peringottukurissi Service Co-Op Bank Ltd, Palakkad

ITA 468/COCH/2018[2013-14]Status: DisposedITAT Cochin01 Aug 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…497/- claimed by the assessee under section 80P(2) (a) (i) of the Act. 3. The learned Commissioner of Income-tax (Appeals) ought to have appreciated the fact that the Hon. Jurisdictional High Court in the cse of M./s.Perinthalmanna Service Co-operative Bank (363 ITR 268) whgerein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit Society”. 4. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-5, Palakkad vs. M/S.Kuthannur Service Co-Op Bank Ltd, Palakkad

ITA 467/COCH/2018[2013-14]Status: DisposedITAT Cochin01 Aug 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…497/- claimed by the assessee under section 80P(2) (a) (i) of the Act. 3. The learned Commissioner of Income-tax (Appeals) ought to have appreciated the fact that the Hon. Jurisdictional High Court in the cse of M./s.Perinthalmanna Service Co-operative Bank (363 ITR 268) whgerein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit Society”. 4. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-5, Palakkad vs. M/S.the Thannirangad Service Co-Op Bank Ltd, Palakkad

ITA 200/COCH/2019[2010-11]Status: DisposedITAT Cochin10 Jul 2019AY 2010-11

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Amaljith P.J., CAFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…without perceiving the difference in definition of a Primary Agricultural Credit Society in the two Acts. 5. The Ld.CIT(A) ought to have considered the decision of the jurisdictional Hon. High Court in the case of /s.Perinthalmanna Service Co-operative Bank (363 ITR 268) wherein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as "Primary Agricultural Credit Society." 6. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-2, Guruvayur vs. M/S.Punnayurkulam Service Co-Opbank Ltd, Thrissur

ITA 372/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Jul 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DRFor Respondent: Sri.M.Ramdas, CA
Section 80PSection 80P(2)Section 80P(4)

…of 2016 and 3, 11, 12, 22, 25, 26, 32, 33, 55, 68, 659, 72, 73, 74, 75 & 76 of 2017 in the case of M/s.Vazhappally Service Co- operative Bank Ltd. (384 ITR 490) and held that the decision of the Division Bench in M/s.Perinthalmanna Service Co-operative Bank (363 ITR 268) has been declared to be the correct position in law. 6. The jurisdictional High Court in the case of M/s.Perinthalmanna Service Co-operative Bank Ltd. Held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit Society”…

The ITO, WD-5, Palakkad vs. M/S.Theperumatty Service Co-Op Bank Ltd, Palakkad

ITA 199/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Jul 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.B.Mohan, CAFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 80PSection 80P(2)Section 80P(4)

…without perceiving the difference in definition of a Primary Agricultural Credit Society in the two Acts. 5. The Ld.CIT(A) ought to have considered the decision of the jurisdictional Hon. High Court in the case of /s.Perinthalmanna Service Co-operative Bank (363 ITR 268) wherein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as "Primary Agricultural Credit Society." 6. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-5, Palakkad vs. M/S.Theperumatty Service Co-Op Bank Ltd, Palakkad

ITA 198/COCH/2019[2013-14]Status: DisposedITAT Cochin09 Jul 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.B.Mohan, CAFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 40Section 80PSection 80P(2)Section 80P(4)

…without perceiving the difference in definition of a Primary Agricultural Credit Society in the two Acts. 5. The Ld.CIT(A) ought to have considered the decision of the jurisdictional Hon. High Court in the case of /s.Perinthalmanna Service Co-operative Bank (363 ITR 268) wherein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as "Primary Agricultural Credit Society." 6. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-5, Palakkad vs. M/S.Theperumatty Service Co-Op Bank Ltd, Palakkad

ITA 197/COCH/2019[2011-12]Status: DisposedITAT Cochin09 Jul 2019AY 2011-12

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.B.Mohan, CAFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 80PSection 80P(2)Section 80P(4)

…without perceiving the difference in definition of a Primary Agricultural Credit Society in the two Acts. 5. The Ld.CIT(A) ought to have considered the decision of the jurisdictional Hon. High Court in the case of /s.Perinthalmanna Service Co-operative Bank (363 ITR 268) wherein it has been held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as "Primary Agricultural Credit Society." 6. The learned CIT (Appeals) ought to have seen that the Hon. Supreme Court in the case of Sabarkhanta Zilla Kharid Vechan Sangh…

The ITO, WD-1, Guruvayoour vs. M/S.Kottapadi Service Co-Op Bank Ltd, Thrissur

ITA 419/COCH/2019[2013-14]Status: DisposedITAT Cochin08 Jul 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt. A.S.Bindhu, Sr.DR
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…se of M/s.Vazhappally Service Co-operative Bank Ltd. & Others has over ruled the decision in the case of Chirakkal Service Co- operative Bank Ltd. (384 ITR 490) and held that the decision of the Division Bench in Perinthalmanna Service Co-operative Bank Ltd. (363 ITR 268) has been declared to be the correct position in law. ITA No.385/Coch/2019 & Ors. 4 M/s.The Pazhuvil SCB Ltd. 6. The jurisdictional Hob’ble High Court in the case of M/s.Perinthalmanna Service Co-operative Bank Ltd. held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of cert…

The ITO, WD-3, Palakkad vs. M/S.Chalissery Sewrvice Co-Op Bank Ltd, Palakkad

ITA 417/COCH/2019[2015-16]Status: DisposedITAT Cochin08 Jul 2019AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt.A.S.Bindhu, Sr.DR
Section 80PSection 80P(2)(a)

…se of M/s.Vazhappally Service Co-operative Bank Ltd. & Others has over ruled the decision in the case of Chirakkal Service Co- operative Bank Ltd. (384 ITR 490) and held that the decision of the Division Bench in Perinthalmanna Service Co-operative Bank Ltd. (363 ITR 268) has been declared to be the correct position in law. 6. The jurisdictional Hob’ble High Court in the case of M/s.Perinthalmanna Service Co-operative Bank Ltd. held that with the introduction of section 80P(4) of the Act, deduction u/s 80P(2) cannot be allowed merely on the strength of certificate of registration as “Primary Agricultural Credit S…