Pr. CIT v. Totagars

395 ITR 611High Court2017#39 most cited

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.

1,074

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2017 to 2026.

Also referred to as

Pr. CIT v. Totagars · 395 ITR 611 · Section 80P(2)(d) · cooperative society · interest income · cooperative bank · deduction · deposits · investments · eligibility 80P

Also reported as

297 CTR 158

Sections most often in play

Section 80P(2)(d)Section 80P(2)(a)(i)Section 80P(4)Section 143(3)Section 80PSection 250Section 2(19)Section 56

Issues it is cited on

section 80(2)(d)section 2(19)section 80p(4)section 80p(1)section 80p(2)(a)(iii)section 80p(2)(c)section 80(p)(2)(d)section 80p(2)(d)section 194a(3)(v)section 80p(2)section 80p(2)(a)section 80p(2)(a)(i)

Judgments citing Pr. CIT v. Totagars

Bheemunipetam 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 176/VIZ/2024[2018-19]Status: DisposedITAT Visakhapatnam25 Nov 2024AY 2018-19

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)…

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 175/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam25 Nov 2024AY 2017-18

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)…

Prabhu Chhaya Chs Ltd., Mumbai vs. CPC and ITO Ward 24(3)(1) Mumbai, Mumbai

ITA 5106/MUM/2024[2018-19]Status: DisposedITAT Mumbai21 Nov 2024AY 2018-19

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Bleι.Τ.Α. No. 5106/Mum/2024

For Appellant: Shri Rajesh Athavale, A/RFor Respondent: Ms. Kakoli Ghosh, Sr. D/R
Section 143(1)Section 80Section 80P(2)(d)

…ty Limited (supra) squarely applies. The relevant finding read as under:- “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.co 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative Socie from surplus deposits kept with a Co-operative Bank, was not eligible for deduction und section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Cou in Pr. CIT v. Totagars Co- operative Sale Society [2017] 78 taxmann.com 169/392 ITR…

Prabhu Chhaya Chs Ltd., Mumbai vs. CPC and Income Tax Officer, Ward 24(3)(1), Mumbai

ITA 5103/MUM/2024[2021-22]Status: DisposedITAT Mumbai21 Nov 2024AY 2021-22

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Raj Kumar Chauhan, Hon'Bleι.Τ.Α. No. 5106/Mum/2024

For Respondent: Ms. Kakoli Ghosh, Sr. D/R
Section 143(1)Section 80Section 80PSection 80P(2)(d)

…ty Limited (supra) squarely applies. The relevant finding read as under:- “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.co 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative Socie from surplus deposits kept with a Co-operative Bank, was not eligible for deduction und section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Cou in Pr. CIT v. Totagars Co- operative Sale Society [2017] 78 taxmann.com 169/392 ITR…

I.T.O.-22(3)(1), Mumbai vs. Adani Electricity Employees Co-Operative Credit Society Limited, Ground Floor, Reliance Energy

In the result, the appeal of the revenue is dismissed

ITA 4113/MUM/2024[2017]Status: DisposedITAT Mumbai21 Nov 2024

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailassessment Year: 2017-18

For Appellant: Shri Shri Dnyanesh Patade & Shri Rupesh SawaleFor Respondent: Shri Ram Krishna Kedia (Sr. DR)
Section 143(3)Section 194ASection 194A(3)(v)Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…2)(d) 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 Society Ltd, Mumbai 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)(d) of the Income tax Act in favour of Revenue." 5. The appellant craves leave to amend or alter or add a new ground which may be necessary." 2. In this case assessment u/s 143(3) of the Act was completed on 05.12…

Sumangala Credit Co-Operative Society, Bantwal vs. Income Tax Officer, Ward-2(3), Mangaluru

ITA 1301/BANG/2024[2018-19]Status: DisposedITAT Bangalore12 Nov 2024AY 2018-19

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubey

Section 263Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)

…onsidering the submissions of the assessee held that interest income received from SCDCC Bank and other Banks amounting to Rs.39,07,351 is not eligible for deduction u/s. 80P(2)(a)(i) and u/s. 80P(2)(d) of the Act relying jurisdictional High Court reported in 395 ITR 611 and directed the AO to pass fresh order. Aggrieved, the assessee is in appeal before the ITAT. 3. The ld. AR vehemently argued that the assessee was required to deposit certain amount for maintaining liquidity as SLR as per the statutory requirement of Karnataka Cooperative Societies Act and direction issued by the Registrar of Cooperative Societ…

The Tirurangadi Service Co-Operative Bank Ltd, Tirurangadi vs. ITO, Ward-3, Tirur

Appeal is allowed in above terms

ITA 88/COCH/2024[2009-2010]Status: DisposedITAT Cochin07 Nov 2024AY 2009-2010

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Ramkumar Menon, CA
Section 2Section 22Section 250Section 56Section 80P

…t of deduction under Section 80P of the Act. The questions for consideration are answered accordingly. Parties to bear their respective costs.” 4. The Revenue’s next vehement objection is in light of PCIT & Anr. vs. Totagars Cooperative Sales Society [2017] 395 ITR 611 (Kar.) and The Totagars Cooperative Sales Society vs. ITO [2010] 322 ITR 26 Tirurangadi Service Co-op. Bank Ltd. 283 (SC) that the interest income derived from deposits made in cooperative bank does not qualify for the impugned deduction. 5. We find in this factual backdrop that hon'ble jurisdictional high court’s latest decision in PCIT v. Pe…

M/S Elankur Service Co-Operative Bank Ltd, Elankur vs. ITO, Ward No. 2, Tirur

ITA 39/COCH/2024[2017-2018]Status: DisposedITAT Cochin07 Nov 2024AY 2017-2018

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.O.D.Sivadas, AdvocateFor Respondent: Smt.V.Swarnalatha, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member ITA No.38/Coch/2024 : Asst.Year 2014-2015 ITA No.39/Coch/2024 : Asst.Year 2017-2018 Elankur Service Co-operative The Assistant Commissioner Bank Limited, Elankur of Income-tax, Circle-1 v. Tirur. Malappuram – 676 122. PAN : AAAAE5993M. (Appellant/Applicant) (Respondent) Appellant by : Sri.O.D.Sivadas, Advocate Respondent by : Smt.V.Swarnalatha, Sr.DR Date of Pronouncement : 07.11.2024 Date of Hearing : 23.08.2024 O R D E R Per Bench : These assessee’s twin appeals a…

M/S Elankur Service Co-Operative Bank Ltd, Elankur vs. ACIT, Circle 1, Tirur

ITA 38/COCH/2024[2014-2015]Status: DisposedITAT Cochin07 Nov 2024AY 2014-2015

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.O.D.Sivadas, AdvocateFor Respondent: Smt.V.Swarnalatha, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member ITA No.38/Coch/2024 : Asst.Year 2014-2015 ITA No.39/Coch/2024 : Asst.Year 2017-2018 Elankur Service Co-operative The Assistant Commissioner Bank Limited, Elankur of Income-tax, Circle-1 v. Tirur. Malappuram – 676 122. PAN : AAAAE5993M. (Appellant/Applicant) (Respondent) Appellant by : Sri.O.D.Sivadas, Advocate Respondent by : Smt.V.Swarnalatha, Sr.DR Date of Pronouncement : 07.11.2024 Date of Hearing : 23.08.2024 O R D E R Per Bench : These assessee’s twin appeals a…

The Trivandrum Govt.Employees Co-Op. Society Ltd, Trivandrum vs. The Additional Joint Deputy Assistant, Commissioner of Income Tax, Trivandrum

Appeal is partly allowed in above terms

ITA 37/COCH/2024[2020-2021]Status: DisposedITAT Cochin07 Nov 2024AY 2020-2021

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.R.Krishnan, CAFor Respondent: Smt.V.Swarnalatha, Sr.DR
Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)Section 80P(2)(i)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member ITA No.37/Coch/2024 : Asst.Year 2020-2021 The Trivandrum Govt. Employees The Assistant Commissioner Co-op. Society Ltd.No.43 of Income-tax, v. TC-12/1651, Near Bank Trivandrum. Employees Hall Thiruvananthapuram, – 695001. PAN : AAAAT3713A. (Appellant) (Respondent) Appellant by : Sri.R.Krishnan, CA Respondent by : Smt.V.Swarnalatha, Sr.DR Date of Pronouncement : 07.11.2024 Date of Hearing : 23.08.2024 O R D E R Per Bench : This assessee’s appeal for assessment year 2…

Ponniam Service Co-Operative Society, Ponniam vs. ITO, Ward-2, Kannur

ITA 239/COCH/2024[2015-2016]Status: DisposedITAT Cochin07 Nov 2024AY 2015-2016

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhasst.Year 2015-16 M/S. Ponniam Service Cooperative Ito, Ward-2, Bank Ltd., V. Kannur Ponniam Service Cooperative Society, Kadirur, Ponniam, Thalassery, Kannur, Kerala - 670641 Pan : Aadap2107P (Appellant) (Respondent) Appellant By : Sri Arun Raj S, Advocate Respondent By : Smt.V.Swarnalatha, Sr.Dr Date Of Pronouncement : 07.11. 2024 Date Of Hearing : 14.08.2024 O R D E R Per Bench : This Assessee’S Appeal In Ita No.239/Coch/2024 For Assessment Year 2015-16 Arises Out Of The Order Of The Commissioner Of Income-Tax (Appeals) / Nfac Vide Din & Order No.Itba/Apl/S/250/2023-24/1060785594(1) Dated 12.02.2024, In Proceedings U/S.250 Of The Income-Tax Act, 1961; In Short “The Act” Hereinafter.

For Appellant: Sri Arun Raj S, AdvocateFor Respondent: Smt.V.Swarnalatha, Sr.DR
Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…interest income derived from deposits made in cooperative societies. Learned departmental representative quoted Totagars Co-operative Sales Society Ltd. Vs. ITO (2010) 322 ITR 283 (SC) and PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) to buttress the point that such an interest income could not be held in the nature of regular business of income and therefore, the impugned disallowance deserves to be upheld. 4. We notice in this background that the very issue stands adjudicated in hon'ble jurisdictional high court’s recent decision in ITA No. 323 of 2019 in the case of…

The Kattappana Service Co-Operative Bank Ltd., Idukki vs. The Income Tax Officer, Ward-1, Thodupuzha

ITA 705/COCH/2023[2017-18]Status: DisposedITAT Cochin07 Nov 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: Smt.V.Swarnalatha, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…income derived from deposit made in co-operative banks as not eligible for 80P deduction in light of Totagar’s Co-operative Sale Society Ltd. v. ITO reported in (2010) 322 ITR 283 (SC) and Pr.CIT & Anr. v. Totagars Co-operative Sale Society reported in (2017) 395 ITR 611 (Kar.), wherein the lower authorities held that such an interest income has to be treated as income from other sources only when assessee’s profits derived in regular course extending credit facilities to the banks. That being the case, we find in this factual background that the instant issue is no more res integra in light of the hon’ble jurisd…

The Teekoy Service Co-Operative Bank Ltd., Kottayam vs. Income Tax Officer, Kottayam

Appeal is allowed in above terms

ITA 703/COCH/2023[2018-19]Status: DisposedITAT Cochin07 Nov 2024AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Revenue by : Smt. V. Swarnalatha, Sr. DRFor Respondent: Smt. V. Swarnalatha, Sr. DR
Section 143(3)Section 250Section 80P(2)Section 80P(2)(a)

…l supporting the Revenue’s case regarding the foregoing twin conditions. We thus reject the Revenue’s instant first and foremost technical argument. 4. The Revenue’s second substantive argument quotes PCIT & Anr. vs. Totagars Cooperative Sales Society [2017] 395 ITR 611 (Kar.) and The Totagars Cooperative Sales Society vs. ITO [2010] 322 ITR 283 (SC) that the assessee’s interest income derived from deposits in cooperative bank(s) could not be treated as it’s regular business income so as to be eligible for the impugned sec.80P deduction which could hardly dispute that hon’ble jurisdictional high court’s recent d…

Ramapuram North Aiswarya Pradayini Scb Ltd, Alappuzha vs. The ITO Ward 3, Alappuzha

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

ITA 556/COCH/2023[2017-18]Status: DisposedITAT Cochin07 Nov 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year 2017-18 Ramapuram North Aiswarya Pradayini Scb Ltd. Ramapuram North, The Income Tax Officer Vs. Keerikadu P.O., Alappuzha Ward - 3, Pin - 690508 Alappuzha Pan Aacar2023D (Appellant) (Respondent)

For Appellant: ------- None -------For Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 139(1)Section 250Section 80ASection 80A(5)Section 80PSection 80P(2)(d)

…n category of member(s). 6. Learned DR further submits that the assessee is not entitled for the impugned deduction once it has derived income from deposits made in cooperative banks etc., in light of PCIT & Anr. vs. Totagars Cooperative Sales Society [2017] 395 ITR 611 (Kar.) and The Totagars Cooperative Sales Society vs. ITO [2010] 322 ITR 283 (SC) 4 Ramapuram North Aiswarya Pradayini SCB Ltd. and submitted that the impugned disallowance has been rightly made in assessee’s hand. 7. We find in this factual backdrop that hon'ble jurisdictional high court’s latest decision in PCIT v. Peroorkada Service Co-op.…

Nedupana Panchayat Residence Welfare Co-Op Society Ltd, Kollam vs. The ITO Ward 5 ( Now Ward 2), Kollam

Appeal is allowed in above terms

ITA 424/COCH/2023[2017-18]Status: DisposedITAT Cochin05 Nov 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: --- None---For Respondent: Smt.V.Swarnalatha, Sr.DR
Section 143(3)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA.No.424/Coch/2023 Assessment year - 2017-2018 Nedupana Panchayath Residence Welfare Co- operative Society Ltd. The Income Tax Officer Q1520, 996, Muttakkavu vs. Ward 5 (now Ward 2) Nedumpana PO Kollam. Kollam – 691 576 PAN : AADAN0457G. (Appellant) (Respondent) Appellant by : --- None--- Respondent by : Smt.V.Swarnalatha, Sr.DR Date of Pronouncement : 05.11.2024 Date of Hearing : 13.08.2024 ORDER PER BENCH : This assessee’s appeal, ITA.No.424/Coch/2023. for as…

Raithara Arecanut Marketing and Processing Co-Operative Society Limited, Bhadravathi vs. Income Tax Officer, Ward-1 and Tps, Shimoga

In the result, the appeal of the assessee stands allowed for statistical purpose

ITA 1775/BANG/2024[2020-21]Status: DisposedITAT Bangalore25 Oct 2024AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Years : 2020-21

For Appellant: Shri Vasant Kumar, CAFor Respondent: Shri V Parithivel, JCIT
Section 60Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…le Karnataka High Court in the case of Tumukur Merchants Souharda Credit Co-operative Ltd., 230 taxman 309 (Karn), the DR relied on a subsequent decision of the Hon'ble Karnataka High Page Court in the case of PCIT Vs. Totgars Co- operative Sale Society Ltd., 395 ITR 611 (Karn.). We have carefully gone through the said judgment. The facts of the case before the Hon'ble Karnataka High Court was that the Hon'ble Court was considering a case relating to Assessment Years 2007-08 to 2011-12. In case decided by the Hon'ble Supreme Court in the case of the very same assessee, the Assessment Years involved was Assessment…

Yughdharma Co-Opperative Housing Society Limited, Mumbai vs. Income Tax Officer- Ward 31(1) (9), Mumbai

In the result, appeal filed by the assessee is partly allowed in the above terms

ITA 3777/MUM/2024[2017-18]Status: DisposedITAT Mumbai25 Oct 2024AY 2017-18

Bench: Shri. Gagan Goyal & Shri. Raj Kumar Chauhanyughdharma Co-Operative Housing Vs. Income Tax Officer – Ward Society Limited 31(1)(9) Yugdharma Chs Ltd. Opp. Inorbit Room No. 536, 5Th Floor, Mall Goregaon, Mumbai – 400104. Kautilya Bhavan, C-41 To C-43, Pan: Aaaay0668F G Block, Bandra Kurla Complex, Bandra East – 400051. (Appellant) (Respondent)

Section 142(1)Section 143(1)Section 143(2)Section 250Section 80PSection 80P(2)(c)Section 80P(2)(d)

…r Sec. 80P(2)(d) on the interest income on the investments/deposits parked with a co-operative bank. Although, in all fairness, we may herein observe that the Hon'ble High Court of Karnataka in the case of Pr. CIT Vs. Totagars co-operative 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…

Kalady Kanjoor Rural Co-Operative Bank Ltd, Ernakulam vs. DCIT, Kochi

In the result, the appeals filed by the appellant are allowed and

ITA 71/COCH/2024[2018-2019]Status: DisposedITAT Cochin23 Oct 2024AY 2018-2019

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2018-19

For Appellant: Smt. Swathy S., AdvocateFor Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 142(1)Section 143(3)Section 57Section 80PSection 80P(2)(d)

…8,169/- in the course of assessment dated 09.09.2021, as upheld in the lower appellate order. 3. Learned DR vehemently supports the impugned disallowance of assessee’s foregoing interest income by quoting PCIT vs. Totagars Co-operative Sales Society [2017] 395 ITR 611 (Kar.) 4. We notice in this background that the very issue stands adjudicated in Hon'ble Jurisdictional High Court’s recent decision in ITA No. 323 of 2019 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…

Nedumkunnam Service Co-Operative Bank Ltd.No.1301, Kottayam vs. Assessment Unit, Income Tax Department

Accordingly, assessee’s appeal ITA No.801/Coch/2023 is allowed

ITA 801/COCH/2023[2020-21]Status: DisposedITAT Cochin23 Oct 2024AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.P.Anil, CAFor Respondent: Smt.V.Swarnalatha, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member ITA No.801/Coch/2023 : Asst.Year 2020-2021 Nedumkunnam Service Co- The Income Tax Officer operative Bank Ltd. No.1301 Ward 2 v. Thiruvalla. Nedumkunhnam PO, Karukachal Kottayam – 686542. PAN : AADAN0369B. (Appellant) (Respondent) Appellant by : Sri.P.Anil, CA Respondent by : Smt.V.Swarnalatha, Sr.DR Date of Pronouncement : 23.10.2024 Date of Hearing : 14.08.2024 O R D E R Per Bench : This assessee’s appeal in ITA No.801/Coch/2023 for assessment year 2020-2021 arises…

Chentrappini Service Co-Op Bank Ltd, Thrissur vs. The ITO Ward 2(1), Thrissur

ITA 537/COCH/2023[2016-17]Status: DisposedITAT Cochin23 Oct 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Sri.Ramdas M, CAFor Respondent: Smt.V.Swarnalatha, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member ITA No.535/Coch/2023 : Asst.Year 2009-2010 & SA No.110/Coch/2023 ITA No.536/Coch/2023 : Asst.Year 2010-2011 & SA No.111/Coch/2023 ITA No.537/Coch/2023 : Asst.Year 2016-2017 & SA No.112/Coch/2023 Chentrappini Service Co-operative The Income Tax Officer Bank Limited No.R 276 Ward – 2(1) v. Thrissur. Chentrappini PO, Chentrappini Thrissur – 680 687 PAN : AAABAC6722F. (Appellant/Applicant) (Respondent) Appellant by : Sri.Ramdas M, CA Respondent by : Smt.V.Swarnalath…