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)

ITO WD 30(1)(1), Mumbai vs. Vaidhyakiya Vibhag Karmachari Sahakari Patsanstha Maryadit, Mumbai

In the result, all the appeals of the Revenue are dismissed

ITA 4127/MUM/2024[2020-21]Status: DisposedITAT Mumbai12 Dec 2024AY 2020-21

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailita No. 3737/Mum/2024 (A.Y. 2018-19)

For Appellant: NoneFor Respondent: Shri Dinesh A Chourasia, Sr. DR

Section 143(2)Section 194A(3)(v)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…eduction u/s.80P(2) of the Income Tax Act, 1961 in respect of interest earned from deposits, though Hon'ble Karnataka High Court in a detailed judgment discussing the law and various related issues in the case of PCIT vs. Totagar's Co-operative Sales Society (395 ITR 611) has specifically decided the Question of Law about the allowability of interest earned from deposits with co-operative bank u/s. 80P(2) of the Income tax Act in favour of Revenue." 2. Fact in brief is that return of income declaring total income of Rs. Nil was filed on 01.09.2017. The case was subject to scrutiny assessment and notice u/s 143(2…

ITO WD 30(1)(1), Kautilya Bhavan vs. Vaidhyakiya Vibhag Karmachari Sahakari Patsanstha Maryadit, Mumbai

In the result, all the appeals of the Revenue are dismissed

ITA 4126/MUM/2024[2017-18]Status: DisposedITAT Mumbai12 Dec 2024AY 2017-18

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailita No. 3737/Mum/2024 (A.Y. 2018-19)

For Appellant: NoneFor Respondent: Shri Dinesh A Chourasia, Sr. DR

Section 143(2)Section 194A(3)(v)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…eduction u/s.80P(2) of the Income Tax Act, 1961 in respect of interest earned from deposits, though Hon'ble Karnataka High Court in a detailed judgment discussing the law and various related issues in the case of PCIT vs. Totagar's Co-operative Sales Society (395 ITR 611) has specifically decided the Question of Law about the allowability of interest earned from deposits with co-operative bank u/s. 80P(2) of the Income tax Act in favour of Revenue." 2. Fact in brief is that return of income declaring total income of Rs. Nil was filed on 01.09.2017. The case was subject to scrutiny assessment and notice u/s 143(2…

ITO Ward 30(1)(1), Mumbai vs. Vaidhyakiya Vibhag Karmachari Sahakari Patsanstha Maryadit, Mumbai

In the result, all the appeals of the Revenue are dismissed

ITA 3737/MUM/2024[2018-19]Status: DisposedITAT Mumbai12 Dec 2024AY 2018-19

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailita No. 3737/Mum/2024 (A.Y. 2018-19)

For Appellant: NoneFor Respondent: Shri Dinesh A Chourasia, Sr. DR

Section 143(2)Section 194A(3)(v)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…eduction u/s.80P(2) of the Income Tax Act, 1961 in respect of interest earned from deposits, though Hon'ble Karnataka High Court in a detailed judgment discussing the law and various related issues in the case of PCIT vs. Totagar's Co-operative Sales Society (395 ITR 611) has specifically decided the Question of Law about the allowability of interest earned from deposits with co-operative bank u/s. 80P(2) of the Income tax Act in favour of Revenue." 2. Fact in brief is that return of income declaring total income of Rs. Nil was filed on 01.09.2017. The case was subject to scrutiny assessment and notice u/s 143(2…

Pulamanthole Service Cooperative Bank Limited, Pulamanthole vs. A.O, Assessment Unit(NFAC), Delhi

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

ITA 538/COCH/2024[2020-21]Status: DisposedITAT Cochin10 Dec 2024AY 2020-21

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2020-21 Pulamanthole Service Co-Op. Bank Ltd. Pattambi Road, Pulamanthole Malappuram 679323 [Pan: Aabap5757F] .......... Appellant Vs. The Income Tax Officer Tirur .......... Respondent Appellant By: ------- None ------- Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 10.12.2024 Date Of Pronouncement: 10.12.2024

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

Section 143(3)Section 63Section 64Section 80PSection 80P(2)(a)

…- 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. 6. I have heard rival contentions and perused the material available on record. The issue in the present appeal relates to eligibility of deduction u/s. 80P of the Act on interest income earned from investment with Social Welfare Pension Consortium Ltd.…

Trichur Dist Electricity Board Employees Co-Op Society Limited, Thrissur vs. ITO, Ward-2(1), Thrissur

In the result, the appeal filed by the assessee is allowed as indicated above

ITA 496/COCH/2024[2020-2021]Status: DisposedITAT Cochin10 Dec 2024AY 2020-2021

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

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

Section 56Section 80HSection 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member & Shri Prakash Chand Yadav, Judicial Member ITA No.496/Coch/2024: Asst.Year 2020-2021 Thrissur District Electricity Board The Income Tax Officer Employees Co-op So. Ltd. No.787 Ward 2(1) v. Thrissur. Vaidyudhi Bhavan Kottappuram Thrissur – 680 004. PAN : AAEAT4182H. (Appellant) (Respondent) Appellant by : Sri.Arun Raj, Advocate Respondent by : Smt.Leena Lal, Senior AR Date of Pronouncement : 10.12.2024 Date of Hearing : 21.11.2024 O R D E R Per Prakash Chand Yadav, JM : The present appeal of the assessee is a…

Samarth Surksha Rakshak Co-Op Credit Society Ltd, Sanpada vs. Income Tax Officer, Navi Mumbai

In the result, the appeal is allowed to the extent indicated above

ITA 5495/MUM/2024[2017-18]Status: DisposedITAT Mumbai10 Dec 2024AY 2017-18

Bench: Shri Saktijit Dey, Vp & Shri Narendra Kumar Billaiya, Am Samarth Surksha Rakshak Co-Op Income Tax Officer, Credit Society Ltd., Navi Mumbai Shop No. 23, Shantiniketan Housing Vs. Society, 30/A, Balaji Tower, Sanpada East, Thane, Maharashtra – 400705 Pan/Gir No. Aadas3793G (Appellant) : (Respondent)

For Appellant: Shri Prashant GhumareFor Respondent: Ms. Monika H. Pande, Sr. AR

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

…me earned on investments parked in cooperative banks / scheduled banks and financial institutions. While doing so, ld. First Appellate Authority primarily relied upon the decision of Hon’ble Karnataka High Court in the case of Totgars Cooperative Sale Society 395 ITR 611 and the decision of the Hon’ble Gujarat High Court in the case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. Vs. ACIT, [200]140 taxmann.com 602(Gujarat). 5. We have heard the parties and perused the material on record. We have also applied our mind to the decisions relied upon. 6. Before us, ld. Counsel appearing for the assessee has…

Koodali Public Servants Co-Op Society Limited No C 924, Mattanur vs. Income Tax Officer, Kannur

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

ITA 291/COCH/2024[2017-18]Status: DisposedITAT Cochin09 Dec 2024AY 2017-18

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2017-18 Koodali Public Servants Co-Op Society Ltd. Matannur P.O., Kannur 670702 [Pan: Aabak8429K] .......... Appellant Vs. The Income Tax Officer Ward -3, Kannur .......... Respondent Appellant By: ------- None ------- Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 09.12.2024 Date Of Pronouncement: 09.12.2024 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 15.02.2024 For Assessment Year (Ay) 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is A Co-Operative Society Formed For Providing Credit Facilities To Its Members. The Assessee Filed Its Return Of Income For Ay 2017-18 On 08.02.2018 Declaring Total Income At Nil After Claiming Deduction Of Rs. 40,95,091/- U/S. 80P Of The Income Tax Act, 1961 (The Act). The Ao Completed The Assessment At A Total Income Of Rs. 40.45,090/- By Denying The Deduction U/S. 80P(2)(D) Of The Act In Respect Of Interest Income Earned From Kannur District Co-Operative Bank.

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

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

…that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. He relied on the decision in the case of 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. 7. I notice that the issue related to interest income received from the District Co-operative bank stands settled 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…

Assistant Commissioner of Income-Tax, Circle-2(1)(1), Ahmedabad vs. The Gujarat State Co. Op. Housing Finance Corporation Ltd, Ahmedabad

The appeals of the Revenue are hereby dismissed

ITA 925/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad05 Dec 2024AY 2017-18

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Aarsi Prasad, CIT-DRFor Respondent: Shri Pritesh Shah, CA

Section 143(3)Section 263Section 80PSection 80P(2)(d)

…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…

Assistant Commissioner of Income-Tax, Circle-2(1)(1), Ahmedabad vs. The Gujarat State Co. Op. Housing Finance Corporation Ltd, Ahmedabad

The appeals of the Revenue are hereby dismissed

ITA 924/AHD/2023[2014-15]Status: DisposedITAT Ahmedabad05 Dec 2024AY 2014-15

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Aarsi Prasad, CIT-DRFor Respondent: Shri Pritesh Shah, CA

Section 143(3)Section 263Section 80PSection 80P(2)(d)

…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…

Assistant Commissioner of Income-Tax, Circle-2(1)(1), Ahmedabad vs. The Gujarat State Co. Op. Housing Finance Corporation Ltd, Ahmedabad

The appeals of the Revenue are hereby dismissed

ITA 923/AHD/2023[2013-14]Status: DisposedITAT Ahmedabad05 Dec 2024AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Aarsi Prasad, CIT-DRFor Respondent: Shri Pritesh Shah, CA

Section 143(3)Section 263Section 80PSection 80P(2)(d)

…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…

Ratneshwari Co.Op.Credit Society Ltd., Mehsana vs. The ACIT., Patan Circle, Patan

The appeal of the assessee is hereby allowed

ITA 1409/AHD/2024[2013-14]Status: DisposedITAT Ahmedabad29 Nov 2024AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice-

For Appellant: Shri SN Divatia, AR & Shri Samir Vora, ARFor Respondent: Ms. Neeju Gupta, Sr DR

Section 194A(3)(v)Section 250Section 263Section 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…

Kadalumdi Service Co-Operative Bank, Kadalundi vs. ITO, Ward-2(3), Kozhikode

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

ITA 386/COCH/2024[2020-2021]Status: DisposedITAT Cochin29 Nov 2024AY 2020-2021

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

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

Section 80Section 80P(2)(d)

…ith the order of the A.O., the assessee preferred appeal before the learned CIT(A), however, the ld.CIT(A) dismissed the appeal of the assessee relying on the decision of Hon’ble Karnataka High Court in the case of Pr.CIT v. Totagars Co-operative Sale Society 395 ITR 611 (Kar.). 4. Still aggrieved, the assessee has come up in appeal before us and contended that the assessee is entitled for deduction of 80P(2)(d) in respect of interest and dividend income and deduction of 80P(2)(a)(i) in respect of other business income. The learned Counsel for the assessee strongly relied upon the judgment of the Hon’ble Kerala…

Durgapur Rayatwari Colliery Kamgar Sahakari Pat Sanstha, Chandrapur vs. ITO Ward-2, Chandrapur

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

ITA 212/NAG/2024[2020-21]Status: DisposedITAT Nagpur28 Nov 2024AY 2020-21

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

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

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

…n category to be entitled to claim deductions under section 80P(2)(i) and section 80P(2)(d) of the IT Act. Similar issue arose for consideration before the High Court of Karnataka (Dharwad Bench) in the case of Pr. CIT v. Totagars Co- operative Society [2017] 395 ITR 611 was followed by Gujarat High Court where it was held that interest earned from investments made in any bank, not being co-operative society, is not deductible under section 80P(2) (d). It is further found by Hon'ble High court that by virtue of amendment in section 194A(3)(v), co-operative banks have been excluded from the definition of 'co-opera…

Durgapur Rayatwari Colliery Kamgar Sahakari Pat Sanstha, Chandrapur vs. ITO Ward 2, Chandrapur

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

ITA 211/NAG/2024[2018-19]Status: DisposedITAT Nagpur28 Nov 2024AY 2018-19

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

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

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

…n category to be entitled to claim deductions under section 80P(2)(i) and section 80P(2)(d) of the IT Act. Similar issue arose for consideration before the High Court of Karnataka (Dharwad Bench) in the case of Pr. CIT v. Totagars Co- operative Society [2017] 395 ITR 611 was followed by Gujarat High Court where it was held that interest earned from investments made in any bank, not being co-operative society, is not deductible under section 80P(2) (d). It is further found by Hon'ble High court that by virtue of amendment in section 194A(3)(v), co-operative banks have been excluded from the definition of 'co-opera…

Lrde Employees Housing Co-Operative Society Ltd, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

In the result, all these appeals of the assessee are allowed for statistical purposes

ITA 1793/BANG/2024[2020-21]Status: DisposedITAT Bangalore28 Nov 2024AY 2020-21

Bench: Shri Laxmi Prasad Sahu & Shri Prakash Chand Yadav

For Appellant: Smt. Pratibha R., A.RFor Respondent: Sri Subramanian, D.R

Section 2(24)Section 250Section 57Section 80P(2)(a)Section 80P(2)(d)

…issue whether interest income is eligible for deduction u/s 80P(2)(d) of the Act with respect to interest income and is no more res-integra in the light of the judgement of Hon’ble jurisdictional High Court in the case of Totgars Society Vs. PCIT reported in 395 ITR 611. Therefore, we dismiss the claim of the assessee with respect to the deduction u/s 80P(2)(d) in respect of interest income. However, we are of the considered view that such income is taxable under the head “income from other sources” and cost attributable to such income is allowable to the assessee u/s 57 of the Act. With this observation, we res…

Lrde Employees Housing Co-Operative Society Limited, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

In the result, all these appeals of the assessee are allowed for statistical purposes

ITA 1792/BANG/2024[2017-18]Status: DisposedITAT Bangalore28 Nov 2024AY 2017-18

Bench: Shri Laxmi Prasad Sahu & Shri Prakash Chand Yadav

For Appellant: Smt. Pratibha R., A.RFor Respondent: Sri Subramanian, D.R

Section 2(24)Section 250Section 57Section 80P(2)(a)Section 80P(2)(d)

…issue whether interest income is eligible for deduction u/s 80P(2)(d) of the Act with respect to interest income and is no more res-integra in the light of the judgement of Hon’ble jurisdictional High Court in the case of Totgars Society Vs. PCIT reported in 395 ITR 611. Therefore, we dismiss the claim of the assessee with respect to the deduction u/s 80P(2)(d) in respect of interest income. However, we are of the considered view that such income is taxable under the head “income from other sources” and cost attributable to such income is allowable to the assessee u/s 57 of the Act. With this observation, we res…

Lrde Employees Housing Co-Operative Society Limited, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

In the result, all these appeals of the assessee are allowed for statistical purposes

ITA 1791/BANG/2024[2015-16]Status: DisposedITAT Bangalore28 Nov 2024AY 2015-16

Bench: Shri Laxmi Prasad Sahu & Shri Prakash Chand Yadav

For Appellant: Smt. Pratibha R., A.RFor Respondent: Sri Subramanian, D.R

Section 2(24)Section 250Section 57Section 80P(2)(a)Section 80P(2)(d)

…issue whether interest income is eligible for deduction u/s 80P(2)(d) of the Act with respect to interest income and is no more res-integra in the light of the judgement of Hon’ble jurisdictional High Court in the case of Totgars Society Vs. PCIT reported in 395 ITR 611. Therefore, we dismiss the claim of the assessee with respect to the deduction u/s 80P(2)(d) in respect of interest income. However, we are of the considered view that such income is taxable under the head “income from other sources” and cost attributable to such income is allowable to the assessee u/s 57 of the Act. With this observation, we res…

Lrde Employees Housing Co-Operative Society Ltd, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

In the result, all these appeals of the assessee are allowed for statistical purposes

ITA 1790/BANG/2024[2014-15]Status: DisposedITAT Bangalore28 Nov 2024AY 2014-15

Bench: Shri Laxmi Prasad Sahu & Shri Prakash Chand Yadav

For Appellant: Smt. Pratibha R., A.RFor Respondent: Sri Subramanian, D.R

Section 2(24)Section 250Section 57Section 80P(2)(a)Section 80P(2)(d)

…issue whether interest income is eligible for deduction u/s 80P(2)(d) of the Act with respect to interest income and is no more res-integra in the light of the judgement of Hon’ble jurisdictional High Court in the case of Totgars Society Vs. PCIT reported in 395 ITR 611. Therefore, we dismiss the claim of the assessee with respect to the deduction u/s 80P(2)(d) in respect of interest income. However, we are of the considered view that such income is taxable under the head “income from other sources” and cost attributable to such income is allowable to the assessee u/s 57 of the Act. With this observation, we res…

ACIT, Central Circle-2(3), Pune vs. Parshwanath Nagari Sahakari Parsanstha Maryadit, Satara

In the result, the appeal is dismissed

ITA 1314/PUN/2024[2020-21]Status: DisposedITAT Pune27 Nov 2024AY 2020-21

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: Shri B.C. MalakarFor Respondent: Shri Arvind Desai, Addl. CIT-DR

Section 143(1)Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…Tumkur Merchants Souharda Credit Cooperative Ltd (supra). 8 ITA.No.1314/PUN./2024 The position continues to remain the same before this Bench also. 4. Reliance of the Id. DR in the case of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. The issue in that case was the eligibility of deduction u/s 80P(2)(d) of the Act on interest earned by the assessee co operative society on investments made in co- operative banks. In that case, the assessee was engaged in the activity of marketing agricultural produce by its members, accepting deposits from its members…

Bheemunipatnam Mutually Aided Cooperative Building Society Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle-3(1), Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 177/VIZ/2024[2020-21]Status: DisposedITAT Visakhapatnam25 Nov 2024AY 2020-21

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. Nos. 175, 176 & 177/Viz/2024 (निर्धारण वर्ा/ Assessment Years: 2017-18, 2018-19 & 2020-21) Bheemunipatnam Mutually Aided V. Dcit / Acit, Circle – 3(1) Cooperative Building Society Limited Income Tax Office H.No. 10-36-284 Infinity Towers, Sankaramatam Road Bheemunipatnam – 531163 Visakhapatnam – 530016 Andhra Pradesh Visakhapatnam, Andhra Pradesh [Pan: Aaaat5114H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 129Section 142(1)Section 143(2)Section 143(3)Section 80PSection 80P(2)(d)

…ments with any other cooperative society is only exempted not the interest from cooperative banks. On this issue, Ld. DR placed reliance on the decision of the Hon’ble High Court of Karnataka in the case of Pr.CIT v. Totagars Co- operative Sale Society [2017] 395 ITR 611 (Karnataka). Page No. 5 I.T.A.Nos.175, 176 & 177/VIZ/2024 Bheemunipatnam Mutually Aided Cooperative Building Society Limited 9. We have heard both the sides and perused the material available on record including the cases cited by both the parties. The main grievance of the assessee is with respect to denial of deduction under section 80P(2)(d)…

Pr. CIT v. Totagars

What is Pr. CIT v. Totagars authority for?

Also referred to as

Also reported as

Sections most often in play

Issues it is cited on

Judgments citing Pr. CIT v. Totagars

ITO WD 30(1)(1), Mumbai vs. Vaidhyakiya Vibhag Karmachari Sahakari Patsanstha Maryadit, Mumbai

ITO WD 30(1)(1), Kautilya Bhavan vs. Vaidhyakiya Vibhag Karmachari Sahakari Patsanstha Maryadit, Mumbai

ITO Ward 30(1)(1), Mumbai vs. Vaidhyakiya Vibhag Karmachari Sahakari Patsanstha Maryadit, Mumbai

Pulamanthole Service Cooperative Bank Limited, Pulamanthole vs. A.O, Assessment Unit(NFAC), Delhi

Trichur Dist Electricity Board Employees Co-Op Society Limited, Thrissur vs. ITO, Ward-2(1), Thrissur

Samarth Surksha Rakshak Co-Op Credit Society Ltd, Sanpada vs. Income Tax Officer, Navi Mumbai

Koodali Public Servants Co-Op Society Limited No C 924, Mattanur vs. Income Tax Officer, Kannur

Assistant Commissioner of Income-Tax, Circle-2(1)(1), Ahmedabad vs. The Gujarat State Co. Op. Housing Finance Corporation Ltd, Ahmedabad

Assistant Commissioner of Income-Tax, Circle-2(1)(1), Ahmedabad vs. The Gujarat State Co. Op. Housing Finance Corporation Ltd, Ahmedabad

Assistant Commissioner of Income-Tax, Circle-2(1)(1), Ahmedabad vs. The Gujarat State Co. Op. Housing Finance Corporation Ltd, Ahmedabad

Ratneshwari Co.Op.Credit Society Ltd., Mehsana vs. The ACIT., Patan Circle, Patan

Kadalumdi Service Co-Operative Bank, Kadalundi vs. ITO, Ward-2(3), Kozhikode

Durgapur Rayatwari Colliery Kamgar Sahakari Pat Sanstha, Chandrapur vs. ITO Ward-2, Chandrapur

Durgapur Rayatwari Colliery Kamgar Sahakari Pat Sanstha, Chandrapur vs. ITO Ward 2, Chandrapur

Lrde Employees Housing Co-Operative Society Ltd, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

Lrde Employees Housing Co-Operative Society Limited, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

Lrde Employees Housing Co-Operative Society Limited, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

Lrde Employees Housing Co-Operative Society Ltd, Bengaluru vs. Income Tax Officer, Ward-4(2)(2), Bengaluru

ACIT, Central Circle-2(3), Pune vs. Parshwanath Nagari Sahakari Parsanstha Maryadit, Satara

Bheemunipatnam Mutually Aided Cooperative Building Society Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle-3(1), Visakhapatnam