What is Pr. CIT v. Totagars authority for?

Interest income earned by a cooperative society from surplus deposits or investments held with a cooperative bank is not eligible for deduction under Section 80P(2)(d) of the Act.

How many judgments cite Pr. CIT v. Totagars?

1,074 judgments on BharatTax cite Pr. CIT v. Totagars (395 ITR 611), spanning 2017 to 2026.

Which sections of the Income Tax Act does Pr. CIT v. Totagars come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(2)(a)(i), Section 80P(4), Section 143(3), Section 80P, Section 250.

Pr. CIT v. Totagars (395 ITR 611)

Armed Forces Ex Officers Multi Services Co Operative Society Ltd, Pune, Maharashtra vs. Income Tax Officer, National E- Assessment Centr, Pune, Maharashtra

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

ITA 2347/PUN/2024[2018-2019]Status: DisposedITAT Pune25 Feb 2025AY 2018-2019

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2344 To 2348/Pun/2024 & "नधा"रण वष" / Assessment Years : 2014-15 To 2016-17, 2018-19, 2020-21 & 2017-18 Armed Forces Ex Officers Vs. The Income Tax Officer, Multi Services Co-Operative Nfac. Soc, 364, Likmanya Tilak Sabha Griha, Pune – 411016. Pan: Aaaaa1185H Appellant Respondent Assessee By : Shri Shweta Joshi - Ca Revenue By : Shri Ramnath P Murkunde - Dr

For Appellant: Shri Shweta Joshi - CAFor Respondent: Shri Ramnath P Murkunde - DR

Section 142(1)Section 143(2)Section 143(3)Section 148Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…s.1,88,32,471/- on account of interest income earned on its investments with other Co-operative Banks which is not allowable in the light of judgement of the Hon’ble High Court of Karnataka in the case of PCIT, Hubballi vs. Totagars Co-operative Sale Society, 395 ITR 611 order dated 16.06.2017, wherein, it was held that the interest earned by a cooperative society from surplus, deposits, cash with a cooperative bank was not eligible for deduction u/s 80P(2)(d) of the IT Act. The notice u/s.142(1) was issued along with questionnaire. The Assessing Officer was of the view that the assessee society has to invest fun…

Armed Forces Ex Offciers Multi Services Co Operative Soc, Pune, Maharashtra vs. Income Tax Offcier, NFAC, Pune

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

ITA 2346/PUN/2024[2016-2017]Status: DisposedITAT Pune25 Feb 2025AY 2016-2017

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2344 To 2348/Pun/2024 & "नधा"रण वष" / Assessment Years : 2014-15 To 2016-17, 2018-19, 2020-21 & 2017-18 Armed Forces Ex Officers Vs. The Income Tax Officer, Multi Services Co-Operative Nfac. Soc, 364, Likmanya Tilak Sabha Griha, Pune – 411016. Pan: Aaaaa1185H Appellant Respondent Assessee By : Shri Shweta Joshi - Ca Revenue By : Shri Ramnath P Murkunde - Dr

For Appellant: Shri Shweta Joshi - CAFor Respondent: Shri Ramnath P Murkunde - DR

Section 142(1)Section 143(2)Section 143(3)Section 148Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…s.1,88,32,471/- on account of interest income earned on its investments with other Co-operative Banks which is not allowable in the light of judgement of the Hon’ble High Court of Karnataka in the case of PCIT, Hubballi vs. Totagars Co-operative Sale Society, 395 ITR 611 order dated 16.06.2017, wherein, it was held that the interest earned by a cooperative society from surplus, deposits, cash with a cooperative bank was not eligible for deduction u/s 80P(2)(d) of the IT Act. The notice u/s.142(1) was issued along with questionnaire. The Assessing Officer was of the view that the assessee society has to invest fun…

Armed Forces Ex Officers Multi Services Co Operative Soc, Pune, Maharashtra vs. Income Tax Offcier, NFAC, Pune, Maharashtra

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

ITA 2345/PUN/2024[2015-2016]Status: DisposedITAT Pune25 Feb 2025AY 2015-2016

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2344 To 2348/Pun/2024 & "नधा"रण वष" / Assessment Years : 2014-15 To 2016-17, 2018-19, 2020-21 & 2017-18 Armed Forces Ex Officers Vs. The Income Tax Officer, Multi Services Co-Operative Nfac. Soc, 364, Likmanya Tilak Sabha Griha, Pune – 411016. Pan: Aaaaa1185H Appellant Respondent Assessee By : Shri Shweta Joshi - Ca Revenue By : Shri Ramnath P Murkunde - Dr

For Appellant: Shri Shweta Joshi - CAFor Respondent: Shri Ramnath P Murkunde - DR

Section 142(1)Section 143(2)Section 143(3)Section 148Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…s.1,88,32,471/- on account of interest income earned on its investments with other Co-operative Banks which is not allowable in the light of judgement of the Hon’ble High Court of Karnataka in the case of PCIT, Hubballi vs. Totagars Co-operative Sale Society, 395 ITR 611 order dated 16.06.2017, wherein, it was held that the interest earned by a cooperative society from surplus, deposits, cash with a cooperative bank was not eligible for deduction u/s 80P(2)(d) of the IT Act. The notice u/s.142(1) was issued along with questionnaire. The Assessing Officer was of the view that the assessee society has to invest fun…

Armed Forces Ex Officers Multi Services Co Operative Soc, Pune, Maharashtra vs. Income Tax Officer, NFAC, Pune, Maharashtra

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

ITA 2344/PUN/2024[2014-2015]Status: DisposedITAT Pune25 Feb 2025AY 2014-2015

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2344 To 2348/Pun/2024 & "नधा"रण वष" / Assessment Years : 2014-15 To 2016-17, 2018-19, 2020-21 & 2017-18 Armed Forces Ex Officers Vs. The Income Tax Officer, Multi Services Co-Operative Nfac. Soc, 364, Likmanya Tilak Sabha Griha, Pune – 411016. Pan: Aaaaa1185H Appellant Respondent Assessee By : Shri Shweta Joshi - Ca Revenue By : Shri Ramnath P Murkunde - Dr

For Appellant: Shri Shweta Joshi - CAFor Respondent: Shri Ramnath P Murkunde - DR

Section 142(1)Section 143(2)Section 143(3)Section 148Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…s.1,88,32,471/- on account of interest income earned on its investments with other Co-operative Banks which is not allowable in the light of judgement of the Hon’ble High Court of Karnataka in the case of PCIT, Hubballi vs. Totagars Co-operative Sale Society, 395 ITR 611 order dated 16.06.2017, wherein, it was held that the interest earned by a cooperative society from surplus, deposits, cash with a cooperative bank was not eligible for deduction u/s 80P(2)(d) of the IT Act. The notice u/s.142(1) was issued along with questionnaire. The Assessing Officer was of the view that the assessee society has to invest fun…

B.S.N.L Employees Junior Co Operative Credit Society Limitd, Mumbai vs. ITO Ward 17(1)(2), Mumbai

In the result, appeal by the assessee is allowed

ITA 30/MUM/2025[2020-21]Status: DisposedITAT Mumbai25 Feb 2025AY 2020-21

Bench: Shri Sandeep Singh Karhail & Shri Girish Agrawalassessment Year: 2020-21

For Appellant: Shri Shekhar Patwardhan, CAFor Respondent: Shri Pravin Salunkhe, Sr. DR

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

…ould be entitled for claim of deduction under sec.80P(2)(d) of the Act." 13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative Society, from surplus deposits kept with a Co-operative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169/3…

Mhada Karmachari Sahakari Patpedhi Maryadit, Mumbai vs. Assessment Unit, Income Tax Department, Mumbai

In the result, impugned order is set-aside and appeal by assessee is allowed

ITA 6372/MUM/2024[2020-2021]Status: DisposedITAT Mumbai25 Feb 2025AY 2020-2021

Bench: Hon’Ble Shri Sandeep Gosainmhada Karmachari Vs. Assessment Unit Sahakari Patpedhi Maryadit Ito Ward 23(2)(1) Room No. 47, Ground Floor, Piramal Chambers, Gruhanirman Bhavan, Lalbaugh, Parel, Bandra (E), Mumbai – Mumbai – 400012. 400051. Pan/Gir No. Aaiam3078P (Applicant) (Respondent)

Section 250Section 80Section 80PSection 80P(2)(a)Section 80P(4)

…n taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134. 7. However, on the same issue Hon'ble Karnataka High court in the subsequent judgment in the case of PCIT vs. Totagars, Co- operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here that the Hon'ble High Court while rendering the later judgement has not considered the earlier decision rendered in the case of Tot…

Ekta Sahakari Patpedhi Maryadit, Virar vs. Income Tax Officer, Ward 4(5)/Thane, Thane

In the result, appeal by the assessee is allowed

ITA 104/MUM/2025[2017-18]Status: DisposedITAT Mumbai24 Feb 2025AY 2017-18

Bench: Shri Sandeep Singh Karhail & Shri Girish Agrawalassessment Year: 2017-18

For Appellant: Shri Bhupendra Shah, CAFor Respondent: Shri Kiran Unavekar, Sr. DR

Section 143(3)Section 234ASection 270ASection 80P(2)(a)Section 80P(2)(d)

…ould be entitled for claim of deduction under sec.80P(2)(d) of the Act." 13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative Society, from surplus deposits kept with a Co-operative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169/3…

Shri Shi vs. Ai Sahakari Patsanstha Limited, Mumbaivs.Income Tax Officer Ward 31(3)(4), Mumbai

Appeal of the assessee is partly allowed

ITA 4428/MUM/2024[2014-15]Status: DisposedITAT Mumbai21 Feb 2025AY 2014-15

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

For Appellant: NoneFor Respondent: Shri Asif Karmali, Sr. DR

Section 2(19)Section 80PSection 80P(1)Section 80P(2)(d)

…would be entitled for claim of deduction under sec.80P(2)(d) of the Act." 13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative Society, from surplus deposits kept with a Co- operative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169/…

ITO Mehsana Ward 5 Kadi, Kadi vs. The Gozaria Peoples Co Operative Credit Society Limited, Gozaria

Appeal is dismissed

ITA 1819/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad18 Feb 2025AY 2018-19

Bench: Dr. Brr Kumar & Shri T.R. Senthil Kumari.Ta. No.1819/Ahd/2024 (Assessment Year: 2018-19) The Income Tax Officer, Vs. The Gozaria Peoples Co- Mehsana Ward 5, Operative Credit Society Kadi. Limited, Gozaria 2, Main Bazar At Gozaria Ta. Mehsana Dist. Mehsana-383825 [Pan No.Aaajt1283G] (Appellant) .. (Respondent) Appellant By : Shri B K Patel, Ar Respondent By: Smt. Trupti Patel, Sr. Dr

For Appellant: Shri B K Patel, ARFor Respondent: Smt. Trupti Patel, Sr. DR

Section 194A(3)(v)Section 263Section 68Section 80PSection 80P(2)(d)Section 80P(4)

…s on the income earned as interest on the investment made with the cooperative bank which in turn, is a cooperative society itself. [Para 28]  Reliance placed by the revenue on decisions of the Karnataka High Court in Totgars’ Cooperative Sale Society (2017) 395 ITR 611 and Supreme Court in case of Totgars Cooperative Sale Society Ltd v. Income Tax Officer 322 ITR 283 (S.C), the Karnataka High Court appears to have taken into consideration the amendment in section 194A(3)(v) wherein the cooperative bank is excluded from the applicability of tax to be deducted at source. However, it appears that the interpretatio…

Premium Tower Coop Housing Society Ltd, Mumbai vs. ITO, Ward 24(3(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 38/MUM/2025[2017-18]Status: DisposedITAT Mumbai18 Feb 2025AY 2017-18

Bench: SHRI AMIT SHUKLA (Judicial Member), MS. PADMAVATHY S (Accountant Member)

Section 143(3)Section 2Section 80Section 80PSection 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘J(SMC)’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS. PADMAVATHY S , ACCOUNTANT MEMBER Premium Tower Co- Vs. Commissioner of operative Housing Society Income Tax-Appeals Ltd. (NFAC) & The Income Office of the Society Tax Officer, Ward- Ground Floor, 24(3)(3), Mumbai Premium Tower CHSL Lion Sole Marg Oshiwara, Andheri West Mumbai- 400 053 PAN/GIR No.AABAP6171B (Appellant) .. (Respondent) Assessee by Shri Sen Subrata Revenue by Shri Asif Karmali, Sr. DR Date of Hearing 11/02/2025 Date of Pronouncement 18/02/2025 आदेश / O R D E R PER AMIT SHUKLA (J.M): The a…

D.S.K. Madhuban (Wing A&B ) Co -Op Housing Society Ltd, Mumbai vs. ITO 41(1)(1), Mumbai

In the result the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 6383/MUM/2024[2023-24]Status: DisposedITAT Mumbai18 Feb 2025AY 2023-24

Bench: Hon’Ble Shri Sandeep Gosain

Section 143(1)Section 250Section 43BSection 80

…USING SOCIETY LTD. vs. INCOME TAX OFFICER Source (2024) 38 NYPTTJ 474 (Mumbai) where it was held that Hon'ble High Court of Karnataka in the case of Principal CIT vs. Totagars Co-operative Sale Society (2017) 297 CTR (Kar) 158: (2017) 154 DTR (Kar) 25: (2017) 395 ITR 611 (Kar), the High Court had concluded that a co-operative society would not be entitled to claim of deduction under s. 80P(2)(d). We however find that as held by the Hon'ble DSK Madhuban (Wing A&B) Co-Op Housing Society, Mumbai High Court of Bombay in the case of K. Subramanian & Anr. vs. Siemens India Ltd. & Anr (1983) 36 CTR (Bom) 197: (1985) 1…

D.S.K. Madhuban (Wing A&B) Co-Op Housing Society Lid, Mumbai vs. ITO 41(1)(1), Mumbai

In the result the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 6382/MUM/2024[2020-21]Status: DisposedITAT Mumbai18 Feb 2025AY 2020-21

Bench: Hon’Ble Shri Sandeep Gosain

Section 143(1)Section 250Section 43BSection 80

…USING SOCIETY LTD. vs. INCOME TAX OFFICER Source (2024) 38 NYPTTJ 474 (Mumbai) where it was held that Hon'ble High Court of Karnataka in the case of Principal CIT vs. Totagars Co-operative Sale Society (2017) 297 CTR (Kar) 158: (2017) 154 DTR (Kar) 25: (2017) 395 ITR 611 (Kar), the High Court had concluded that a co-operative society would not be entitled to claim of deduction under s. 80P(2)(d). We however find that as held by the Hon'ble DSK Madhuban (Wing A&B) Co-Op Housing Society, Mumbai High Court of Bombay in the case of K. Subramanian & Anr. vs. Siemens India Ltd. & Anr (1983) 36 CTR (Bom) 197: (1985) 1…

Mhatre Palace Chsl, Borivali West vs. National E-Assessment Centre, Delhi, Mumbai

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

ITA 6394/MUM/2024[2023-24]Status: DisposedITAT Mumbai17 Feb 2025AY 2023-24

Bench: Hon’Ble Shri Sandeep Gosainvs. Ito – 42(1)(3) Mhatre Palace Chsl Kautilya Bhavan, Bkc 106 Mhatre Palace Chs Ltd Bandra E – 400 051. Ic Colony, Link Road, Borivali (W), Mumbai 400 013 Pan/Gir No. Aaaam9414D (Applicant) (Respondent)

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 144BSection 250Section 80PSection 80P(2)Section 80P(2)(d)

…st earned from the Co-operative Banks is allowable as a deduction under section 80P(2)(d) of the Act. 12. We find that the AO has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr.CIT v/s Totagars Co- operative Sales Society, [2017] 395 ITR 611 (Karn.) in support of its conclusion that interest derived from fixed deposits in Co- operative Banks is not eligible for deduction under section 80P(2) (d) of the Act and should be treated as "income from other sources" under section 56 of the Act. We find that the coordinate bench of the Tribunal in Pathare Prabhu Co-operative Housing Society L…

The Suvarna Nagar Co Operative Housing Society Ltd, Mumbai vs. ITO, Ward, 34(3), Mumbai

In the result, the appeal by the assessee is allowed

ITA 11/MUM/2025[2019-20]Status: DisposedITAT Mumbai14 Feb 2025AY 2019-20

Bench: Shri Sandeep Singh Karhailshri Girish Agrawalassessment Year : 2019-20

For Appellant: Ms. Parvathy Ganesh, CAFor Respondent: Shri Pravin Salunkhe, Sr. DR

Section 143(1)Section 250Section 80PSection 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H”(SMC) BENCH, MUMBAI BEFORE SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year : 2019-20 The Suvarna Nagar Co-operative Hsg. Society Ltd. Jai Hind Cub Building JVPD Scheme, 2nd Floor, N.S.Road, Vile Parle West, Mumbai-400057. ……………. Appellant PAN: AAAAS 4938 E v/s Asst. Director, Centralized Processing Centre/ ITO, Ward-34(3)(5), Kotilya Bhavan, Bandra Kurla Complex, ……………. Respondent Bandra, Mumbai Assessee by : Ms. Parvathy Ganesh, CA Revenue by : Shri Pravin Salunkhe, Sr. DR Date of Hearing – 11/02/2025 Date of Order –…

Thodiyoor Service Cooperative Bank Ltd, Kollam vs. ITO, Ward 2, Alappuzha

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

ITA 83/COCH/2025[2017-18]Status: DisposedITAT Cochin13 Feb 2025AY 2017-18

Bench: Shri Inturi Rama Rao

For Appellant: Smt.Varsha, AdvocateFor Respondent: Smt.Leena Lal, Senior AR

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

…of Rs.3,29,95,964 by holding that such interest does not qualify for deduction u/s.80P(2)(d) of the Act placing reliance on the judgment of the Hon’ble Karnataka High Court in the case of Pr.CIT & Anr. v. Totagars Co-operative Sale Society reported in (2017) 395 ITR 611 (Kar.) 3. Being aggrieved by the above assessment, the assessee filed an appeal before the CIT(A), who vide the impugned order confirmed the action of the AO. 4. Being aggrieved, the assessee is in appeal before me in the present appeal. When the case was called upon, none appeared on behalf of the assessee. Therefore, I proceed to dispose of t…

The Bardez Urban Co-Op Credit Society Ltd, Mapusa vs. The Income Tax Officer, Ward 2(4), Panaji, Goa

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

ITA 74/PAN/2024[AY 2016-17]Status: DisposedITAT Panaji11 Feb 2025

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. Nos. 74/Pan/2024 (A.Y. 2016-17 ) The Bardezurban Co- Vs Ito-Ward-2(4), Panaji.-403001, Operative Credit Society . Goa. Limited, Shop.No.19 20 . Cosmos Centre Mapusa, Bardez-403507, Goa. Pan .No. Aaaat6217F (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By Shri.S.J.Kamat.Ar Revenue By Shri.Narendra Reddy.Sr.Dr सुनवाई क" तार"ख/Date Of Hearing 06.02.2025 घोषणा क" तार"ख/Date Of Pronouncement 11.02.2025 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of National Faceless Appeal Centre (Nfac) Delhi / Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. 2. At The Time Of Hearing, The Ld.Ar Of The Assessee Submitted That There Is A Delay In Filing The Appeal Before The Hon’Ble Tribunal & The Assesse Has Filed The Affidavit For Condonation Of Delay. Whereas, The Facts Mentioned In The Affidavit Are Reasonable & The Ld. Dr Has No 2 Ita. No. 74/Pan/2024 The Bardez Urban Co-Operative Credit Society Limited.. Specific Objections. Accordingly, We Condone The Delay & Admit The Appeal. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Sustaining The Denial Of Claim Of Deduction Under Section 80P(2)(D) Of The Act.

Section 143(1)Section 80PSection 80P(2)(d)

…on under Sec. 80P(2) (d) on the interest income on the investments/deposits parked with a co-operative bank. Although, in all fairness, we may observe that the Hon'ble High Court of Karnataka in the case of Pr. CIT Vs. Totagars cooperative Sale Society (2017) 395 ITR 611 (Karn), had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2) (d). At the same time, we find, that the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon'ble High Court of Gujarat in the case…

Datta Sadan Co Operative Housing Society Limited, Mumbai vs. Income Tax Officer 22 1 6, Mumbai

In the result, the appeal by the assessee is allowed

ITA 87/MUM/2025[2021-22]Status: DisposedITAT Mumbai11 Feb 2025AY 2021-22

Bench: SHRI SANDEEP SINGH KARHAIL (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

For Appellant: Shri Ajay Arvind Wadke, ARFor Respondent: Shri Kiran Unavekar, Sr. DR

Section 143(1)Section 250Section 80PSection 80P(2)(d)

…would be entitled for claim of deduction under sec.80P(2)(d) of the Act." 13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative Society, from surplus deposits kept with a Co-operative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169/3…

Kulasekharapuram Service Coperative Bank Ltd No.995, Kollam vs. ITO, Kollam

In the result, ITA No. 781/Coch/2024 is dismissed and ITA Nos

ITA 783/COCH/2024[2020-21]Status: DisposedITAT Cochin04 Feb 2025AY 2020-21

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri Rajakannan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 139Section 139(1)Section 142(1)Section 144Section 148Section 80ASection 80A(5)Section 80P

…T- DR vehemently argued that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. He further quotes PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) and submitted that the impugned disallowance has been rightly made in assessee’s hand. Kulasekharapuram Service Co-op. Bank Ltd. 9. Regarding the interest income received from Treasury, Scheduled Banks, etc., this issue is no longer res integra, as it is covered by the judgement of the Hon'ble Jurisdictional High court in the case of CIT…

Kulasekharapuram Service Cooperative Bank Ltd No.995, Kollam vs. ITO, Ward-5, Alappuzha

In the result, ITA No. 781/Coch/2024 is dismissed and ITA Nos

ITA 782/COCH/2024[2017-18]Status: DisposedITAT Cochin04 Feb 2025AY 2017-18

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri Rajakannan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 139Section 139(1)Section 142(1)Section 144Section 148Section 80ASection 80A(5)Section 80P

…T- DR vehemently argued that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. He further quotes PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) and submitted that the impugned disallowance has been rightly made in assessee’s hand. Kulasekharapuram Service Co-op. Bank Ltd. 9. Regarding the interest income received from Treasury, Scheduled Banks, etc., this issue is no longer res integra, as it is covered by the judgement of the Hon'ble Jurisdictional High court in the case of CIT…

Kulasekharapuram Service Cooperative Bank Ltd No.995, Kollam vs. ITO, Ward-5, Alappuzha

In the result, ITA No. 781/Coch/2024 is dismissed and ITA Nos

ITA 781/COCH/2024[2017-18]Status: DisposedITAT Cochin04 Feb 2025AY 2017-18

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri Rajakannan, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 139Section 139(1)Section 142(1)Section 144Section 148Section 80ASection 80A(5)Section 80P

…T- DR vehemently argued that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. He further quotes PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) and submitted that the impugned disallowance has been rightly made in assessee’s hand. Kulasekharapuram Service Co-op. Bank Ltd. 9. Regarding the interest income received from Treasury, Scheduled Banks, etc., this issue is no longer res integra, as it is covered by the judgement of the Hon'ble Jurisdictional High court in the case of CIT…

Pr. CIT v. Totagars

What is Pr. CIT v. Totagars authority for?

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Issues it is cited on

Judgments citing Pr. CIT v. Totagars

Armed Forces Ex Officers Multi Services Co Operative Society Ltd, Pune, Maharashtra vs. Income Tax Officer, National E- Assessment Centr, Pune, Maharashtra

Armed Forces Ex Offciers Multi Services Co Operative Soc, Pune, Maharashtra vs. Income Tax Offcier, NFAC, Pune

Armed Forces Ex Officers Multi Services Co Operative Soc, Pune, Maharashtra vs. Income Tax Offcier, NFAC, Pune, Maharashtra

Armed Forces Ex Officers Multi Services Co Operative Soc, Pune, Maharashtra vs. Income Tax Officer, NFAC, Pune, Maharashtra

B.S.N.L Employees Junior Co Operative Credit Society Limitd, Mumbai vs. ITO Ward 17(1)(2), Mumbai

Mhada Karmachari Sahakari Patpedhi Maryadit, Mumbai vs. Assessment Unit, Income Tax Department, Mumbai

Ekta Sahakari Patpedhi Maryadit, Virar vs. Income Tax Officer, Ward 4(5)/Thane, Thane

Shri Shi vs. Ai Sahakari Patsanstha Limited, Mumbaivs.Income Tax Officer Ward 31(3)(4), Mumbai

ITO Mehsana Ward 5 Kadi, Kadi vs. The Gozaria Peoples Co Operative Credit Society Limited, Gozaria

Premium Tower Coop Housing Society Ltd, Mumbai vs. ITO, Ward 24(3(3), Mumbai

D.S.K. Madhuban (Wing A&B ) Co -Op Housing Society Ltd, Mumbai vs. ITO 41(1)(1), Mumbai

D.S.K. Madhuban (Wing A&B) Co-Op Housing Society Lid, Mumbai vs. ITO 41(1)(1), Mumbai

Mhatre Palace Chsl, Borivali West vs. National E-Assessment Centre, Delhi, Mumbai

The Suvarna Nagar Co Operative Housing Society Ltd, Mumbai vs. ITO, Ward, 34(3), Mumbai

Thodiyoor Service Cooperative Bank Ltd, Kollam vs. ITO, Ward 2, Alappuzha

The Bardez Urban Co-Op Credit Society Ltd, Mapusa vs. The Income Tax Officer, Ward 2(4), Panaji, Goa

Datta Sadan Co Operative Housing Society Limited, Mumbai vs. Income Tax Officer 22 1 6, Mumbai

Kulasekharapuram Service Coperative Bank Ltd No.995, Kollam vs. ITO, Kollam

Kulasekharapuram Service Cooperative Bank Ltd No.995, Kollam vs. ITO, Ward-5, Alappuzha

Kulasekharapuram Service Cooperative Bank Ltd No.995, Kollam vs. ITO, Ward-5, Alappuzha