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

Ramanthali Service Co-Operative Bank Ltd, Payyanur vs. ITO, Ward-3, Kannur

In the result, the assessee’s appeal is allowed in above terms

ITA 140/COCH/2024[2021-2022]Status: DisposedITAT Cochin25 Sept 2024AY 2021-2022

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhramanthali Service Co-Op. The Income Tax Officer - 3 Bank Ltd. Aayakar Bhavan Vs. Ramanthali, Payanur, Kannur 670307 Kannothumchal [Pan: Aaajr0310C] Kannur 670307 (Appellant) (Respondent)

For Appellant: Shri Arun Raj S., AdvocateFor Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 250Section 80PSection 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, Judicial Member Ramanthali Service Co-op. The Income Tax Officer - 3 Bank Ltd. Aayakar Bhavan vs. Ramanthali, Payanur, Kannur 670307 Kannothumchal [PAN: AAAJR0310C] Kannur 670307 (Appellant) (Respondent) Appellant by: Shri Arun Raj S., Advocate Respondent by: Smt. V. Swarnalatha, Sr. D.R. Date of Hearing: 14.08.2024 Date of Pronouncement: 25.09.2024 O R D E R Per Bench This assessee’s appeal for A.Y. 2021-22 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN…

Nedumon Service Coop Bank, Nedumon vs. Income Tax Officer, Kollam

In the result, the assessee’s appeal is allowed in above terms

ITA 130/COCH/2024[2015-16]Status: DisposedITAT Cochin25 Sept 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhnedumon Service Co-Op. Bank Ltd. The Income Tax Officer Vi/312 Nedumon P.O. Ward -5, Kollam Vs. Pathanamthitta 691556 [Pan: Aaaan2996H] (Appellant) (Respondent)

For Appellant: ------- None -------For Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 250Section 80PSection 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, Judicial Member Nedumon Service Co-op. Bank Ltd. The Income Tax Officer VI/312 Nedumon P.O. Ward -5, Kollam vs. Pathanamthitta 691556 [PAN: AAAAN2996H] (Appellant) (Respondent) Appellant by: ------- None ------- Respondent by: Smt. V. Swarnalatha, Sr. D.R. Date of Hearing: 16.08.2024 Date of Pronouncement: 25.09.2024 O R D E R Per Bench This assessee’s appeal for A.Y. 2015-16 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/ NFAC/S/250/202…

The Ernakulam Urban Co-Operative Society Ltd, Ernakulam vs. ACIT, Ernakulam

ITA 112/COCH/2024[2021-2022]Status: DisposedITAT Cochin25 Sept 2024AY 2021-2022

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

…the course of hearing that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. She 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. 3. 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 Lordsh…

The Trivandrum Employees Co-Operative Society Limited No. 43, Thiruvananthapuram vs. The Income Tax Officer, Thiruvananthapuram

ITA 863/COCH/2023[2017-18]Status: DisposedITAT Cochin25 Sept 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri R. Krishnan, CA
Section 115BSection 144BSection 250Section 40A(3)Section 68Section 80Section 80PSection 80P(2)Section 80P(2)(d)

…us funds made in cooperative bank(s) could not be held to have been derived from the eligible business in light of Totagars Co-operative Sales Society vs. ITO [2010] 322 ITR 283 (SC) and Pr. CIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.). We note in this factual backdrop that hon'bleble jurisdictional high court’s recent landmark decision in PCIT v. Peroorkada Service The Trivandrum Employees Co-operative Society Ltd. Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) has already settled the issue in assessee’s favour and against the department as under: “12.2 Section 80P deals w…

Panniyankara Service Co Operative Bank Limited Nod 2694, Kozhikode, Kerala vs. Income Tax Officer, Ward-1 (3), Kozhikode

Appeal is allowed

ITA 823/COCH/2023[2016-2017]Status: DisposedITAT Cochin25 Sept 2024AY 2016-2017

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhpanniyankara Service Co-Op. The Income Tax Officer - 1(3) Bank Ltd. Aayakar Bhavan, North Block 20/1145, H2, Haseena Building Vs. New Anned Building Kallai, Kozhikode 673003 Mananchira, Kozhikode 673001 [Pan: Aadap2833J] (Appellant) (Respondent)

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

…the course of hearing that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. She 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. 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 Lordsh…

The Trivandrum Employees Co-Operative Society Limited No. 43, Trivandrum vs. The Additional Joint Deputy Assistant Commissioner of Income Tax, Kochi

ITA 792/COCH/2023[2018-19]Status: DisposedITAT Cochin25 Sept 2024AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri R. Krishnan, CA
Section 115BSection 144BSection 250Section 40A(3)Section 68Section 80Section 80PSection 80P(2)Section 80P(2)(d)

…us funds made in cooperative bank(s) could not be held to have been derived from the eligible business in light of Totagars Co-operative Sales Society vs. ITO [2010] 322 ITR 283 (SC) and Pr. CIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.). We note in this factual backdrop that hon'bleble jurisdictional high court’s recent landmark decision in PCIT v. Peroorkada Service The Trivandrum Employees Co-operative Society Ltd. Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) has already settled the issue in assessee’s favour and against the department as under: “12.2 Section 80P deals w…

Narath Service Co-Op Bank Limited No F 1436, Narath, Kannur vs. Income Tax Officer, Kannur

ITA 585/COCH/2023[2016-17]Status: DisposedITAT Cochin25 Sept 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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

…the course of hearing that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. She 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. 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 Lordsh…

M/S Kottayam Service Co-Op Bank Ltd, Kannur vs. The ITO Ward 2, Kannur

ITA 550/COCH/2023[2016-17]Status: DisposedITAT Cochin25 Sept 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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

…the course of hearing that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. She 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. 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 Lordsh…

M/S Kottayam Service Co-Op Bank Ltd, Kannur vs. The ITO Ward 2, Kannur

ITA 549/COCH/2023[2015-16]Status: DisposedITAT Cochin25 Sept 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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

…the course of hearing that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. She 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. 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 Lordsh…

M/S.Kottayam Service Co-Op Bank Ltd, Kannur vs. The ITO, Kannur

ITA 548/COCH/2023[2014-15]Status: DisposedITAT Cochin25 Sept 2024AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

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

…the course of hearing that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. She 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. 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 Lordsh…

Vadakkevila Service Co-Operative Bank Ltd, Kollam vs. The ITO, Kollam

Appeal is allowed in above terms

ITA 478/COCH/2023[2017-18]Status: DisposedITAT Cochin25 Sept 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Ms.Anoopa, AdvocateFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 194ASection 40Section 56Section 80PSection 80P(2)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member & Shri Amarjit Singh, Accountant Member ITA No.478/Coch/2023 : Asst.Year 2017-2018 Vadakkevila Service Co-operative The Income Tax Officer Bank Limited, Bhodhinagar Ward v. Kollam. Thattamala, Kollam – 691 020. PAN : AABAV5781B. (Appellant) (Respondent) Appellant by : Ms.Anoopa, Advocate Respondent by : Sri.Sanjit Kumar Das, CIT-DR Date of Pronouncement : 25.09.2024 Date of Hearing : 13.08.2024 O R D E R Per Bench : This assessee’s appeal ITA No.478/Coch/2023 for assessment year 2017-2018 arises against t…

M/S.Umayanalloor Service Co-Op Bank Ltd, Kollam vs. The ITO Ward 4, Kollam

ITA 390/COCH/2023[2018-19]Status: DisposedITAT Cochin25 Sept 2024AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…argued in the course of hearing that such an interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned as per PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) and submits that the impugned disallowance has been rightly made herein. 4. We notice in this background that the very issue stands adjudicated in hon'ble jurisdictional high court’s recent decision in PCIT v. Peroorkada Service Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) wherein their Lordships have rejected the Revenue’s identical stand a…

M/S.Umayanalloor Service Co-Op Bank Ltd, Kollam vs. The ITO Ward 4, Kollam

ITA 389/COCH/2023[2016-17]Status: DisposedITAT Cochin25 Sept 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri G. Surendranath Rao, CAFor Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…argued in the course of hearing that such an interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned as per PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) and submits that the impugned disallowance has been rightly made herein. 4. We notice in this background that the very issue stands adjudicated in hon'ble jurisdictional high court’s recent decision in PCIT v. Peroorkada Service Co-op. Bank Ltd. [2022] 442 ITR 141 (Ker) wherein their Lordships have rejected the Revenue’s identical stand a…

The Taliparamba Govt Employees Co-Op Society Ltd, Kannur vs. The ITO, Ward 4, Kannur

Appeal stands allowed in above terms

ITA 341/COCH/2023[2017-18]Status: DisposedITAT Cochin25 Sept 2024AY 2017-18

Bench: Shri Satbeer Singh Gadora & Shri Amarjit Singhtaliparamba Govt. Employees The Income Tax Officer- 4 Co-Op. Society Ltd. Aayakar Bhavan Vs. Taliparamba, Kannur 670141 Konnothumchal [Pan: Aalft8560F] Kannur 670006 (Appellant) (Respondent)

For Appellant: ----- None -----For Respondent: Smt. Swarnalatha, Sr. D.R
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 Gadora, Judicial Member and Shri Amarjit Singh, Accountant Member Taliparamba Govt. Employees The Income Tax Officer- 4 Co-op. Society Ltd. Aayakar Bhavan vs. Taliparamba, Kannur 670141 Konnothumchal [PAN: AALFT8560F] Kannur 670006 (Appellant) (Respondent) Appellant by: ----- None ----- Respondent by: Smt. Swarnalatha, Sr. D.R. Date of Hearing: 12.08.2024 Date of Pronouncement: 25.09.2024 O R D E R Per Bench This assessee’s appeal for A.Y. 2017-18 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order…

Murude Sahakari Patsanstha Maryadit, Mumbai vs. ITO, Ward-22(2)(1), Mumbai

The Appeal is allowed

ITA 901/MUM/2024[2018-19]Status: DisposedITAT Mumbai24 Sept 2024AY 2018-19

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Dharan GandhiFor Respondent: Shri Himanshu Sharma
Section 143Section 143(3)Section 5Section 80Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…the Hon’ble Supreme Court in the case of Citizen Co-operative Society Limited Vs ACIT : Circle- 9(1), Hyderabad: [2017] 397 ITR 1 (SC) and the judgment of the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar). In the case of Mavilayi Services Co-operative Bank Limited Vs. CIT, Calicut: [2021] 431 ITR 1 (SC) [12/01/2021], the Hon’ble Supreme Court had, after taking into consideration the aforesaid provisions of the Act and the judgments relied upon by the Assessing Officer, held that the provisions of Section 80P(4) of the Act would not be attrac…

Dtps Employees Co-Op Credit Society Limited Dahanu, Dahanu vs. Jurisdiction Ward 1, Palghar

ITA 1884/MUM/2024[2018-19]Status: DisposedITAT Mumbai24 Sept 2024AY 2018-19
Section 143(3)Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…24, by relying upon the Judgment of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd Vs. ITO (2010) 322 ITR 283 and Judgment of the Hon'ble Karntaka High Court in the case of Pr.CIT vs. Totagar's Co-operative Sale Society (2017) 395 ITR 611. 4. Being aggrieved, the Appellant has preferred present appeal before the Tribunal on the grounds reproduced in paragraph 2 3 ITA No. 1884/MUM/2024 Assessment Year: 2018-19 above. 5. All the grounds raised in the present appeal are directed against the order of CIT(A) dismissing the appeal and thereby, confirming the disallowance of INR 31,92,9…

Shrikrupa Nagari Sahakari Pathsanstha Maryadit, Alibaug vs. Income Tax Ward 3 Panvel, Panvel

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

ITA 1089/PUN/2024[2020-21]Status: DisposedITAT Pune20 Sept 2024AY 2020-21

Bench: Shri R. K. Panda & Shri S.S. Godaraassessment Year : 2020-21

For Appellant: Shri Ronak H. JainFor Respondent: Shri Arvind Desai, Addl CIT, DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…e assessee by observing as under: “5…. In view of the decisions of the Hon'ble Supreme court in Totagar's Cooperative Sale Society Ltd. vs ITO (2010) 322 ITR 283 (SC) and the Hon'ble Karnataka High Court in Pr.CIT vs Totagar's Cooperative Sale Society (2017) 395 ITR 611 (Karnataka), Cooperative Society is not entitled to claim deduction u/s 80P(2)(a)(i) and 80P(2)(d) respectively in respect of interest income from deposit made in Cooperative Bank/Commercial Banks. Further, it is clear that no expenditure is attributable in merely making a deposit in Cooperative Banks/Commercial Banks.” 5. Aggrieved with such or…

Rajarshi Shahu Multistate Co-Operative Credit Society Ltd, Buldhana vs. ITO, Ward 2, Khamgaon

In the result, appeal filed by the assessee is allowed

ITA 64/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Sept 2024AY 2018-19

Bench: Shri V. Durga Rao

For Appellant: NoneFor Respondent: Shri Abhay Y. Marathe
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…tive societies, whereas the assessee has received interest from Bank. The disallowing the deduction, the Assessing Officer relied upon the judgment of the Hon’ble High Court of Karnataka in PCIT v/s The Totgars’ Co– operative Sale Society Ltd. v/s ITO, [2017] 395 ITR 611 (Kar.). The assessee being not satisfied filed appeal before the first appellate authority. 4. The learned Departmental Representative supported the order of the learned CIT(A). 5. We have heard the learned D.R., perused the material available on record and gone through the orders of the authorities below. It is an admitted fact that the assess…

K1104 Elaamuthur Primary Agricultural Co-Operative Credit Scoiety, Tiruppur vs. ITO, Ward 2(4), Tiruppur

In the result, appeals filed by the assessee for both the

ITA 1041/CHNY/2024[2017-18]Status: DisposedITAT Chennai18 Sept 2024AY 2017-18

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 1040 & 1041/Chny/2024 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 K 1104 Elayamuthur Primary Income Tax Officer, Agricultural Co-Operative Credit V. Ward -2(4), Society, Tirupur. Elayamuthur, Udumalpet, Tirupur – 642 154. [Pan: Aabak-3636-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. R.V. Aroonprasaad, Addl.Cit सुनवाईकीतारीख/Date Of Hearing : 23.07.2024 घोषणाकीतारीख/Date Of Pronouncement : 18.09.2024

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT
Section 143(1)Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

…h Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). 10. Insofar as the reliance of the ld. DR on the case of Pr. CIT ACIT Vs Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is concerned, we find that the issue in that case was the eligibility of deduction u/s.80P(2)(d) of the Act on interest earned by the assessee cooperative 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 me…

K1104 Elayamuthur Promary Agricultural Co-Operative Credit Society, Tiruppur vs. ITO, Ward 2(4), Tiruppur

In the result, appeals filed by the assessee for both the

ITA 1040/CHNY/2024[2016-17]Status: DisposedITAT Chennai18 Sept 2024AY 2016-17

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita Nos.: 1040 & 1041/Chny/2024 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 K 1104 Elayamuthur Primary Income Tax Officer, Agricultural Co-Operative Credit V. Ward -2(4), Society, Tirupur. Elayamuthur, Udumalpet, Tirupur – 642 154. [Pan: Aabak-3636-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. S. Sridhar, Advocate ""यथ"क"ओरसे/Respondent By : Shri. R.V. Aroonprasaad, Addl.Cit सुनवाईकीतारीख/Date Of Hearing : 23.07.2024 घोषणाकीतारीख/Date Of Pronouncement : 18.09.2024

For Appellant: Shri. S. Sridhar, AdvocateFor Respondent: Shri. R.V. AroonPrasaad, Addl.CIT
Section 143(1)Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

…h Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). 10. Insofar as the reliance of the ld. DR on the case of Pr. CIT ACIT Vs Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is concerned, we find that the issue in that case was the eligibility of deduction u/s.80P(2)(d) of the Act on interest earned by the assessee cooperative 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 me…