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

Raheja Chambers Premisese Operative Society Limited, Mumbai vs. Income Tax Officer Ward 26(1)(1), Mumbai

Accordingly. Ground No. 3, 4 and 5 raised by the Appellant are allowed; and therefore, Ground No

ITA 2454/MUM/2024[2015-16]Status: DisposedITAT Mumbai29 Jul 2024AY 2015-16

Bench: MS. PADMAVATHY S, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Manoj DixitFor Respondent: Shri Nayanjyoti Nath
Section 143(3)Section 2(19)Section 80Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…ining the judgment of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC), which was followed by the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar), and after taking into account the insertion of Section 80P(4) of the Act vide the Finance Act, 2006, the Mumbai Bench of the Tribunal has held that co-operative bank continues to be a co-operative society and therefore, the Assessee receiving interest from a co-operative bank would be eligible to claim deduction under Section 80P(2)(d) of…

Dhanvarsha Nagri Sahakari Patasantha Limited, Navi Mumbai vs. ITO Ward 28(1)(3), Navi Mumbai

Accordingly, in view of paragraph 10 to 15 above, disallowance of INR.32,63,969/- is deleted and claim of deduction under Section 80P of the Act as made by the Appellant is allowed

ITA 1600/MUM/2024[2014-15]Status: DisposedITAT Mumbai29 Jul 2024AY 2014-15

Bench: the Tribunal. Therefore, the delay of 22 days in filing the appeal is condoned. 4. We note that the Appellant has raised the following grounds in the

For Appellant: Shri Vijaykumar ShindeFor Respondent: Shri R. R. Makwana
Section 143(3)Section 194HSection 40Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…ining the judgment of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC), which was followed by the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar), and after taking into account the insertion of Section 80P(4) of the Act vide the Finance Act, 2006, the Mumbai Bench of the Tribunal has held that co-operative bank continues to be a co-operative society and therefore, the Assessee receiving Assessment Year : 2014-15, 2017-18 interest from a co-operative bank would be eligible to claim…

Mp State Cooperative Dairy Federation Limited, Bhopal vs. ACIT Bhopal, Bhopal

In the result, the appeal for A

ITA 115/IND/2024[2020-21]Status: DisposedITAT Indore26 Jul 2024AY 2020-21

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 80P(2)Section 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 Page 12 of 16 ITANo.114 & 115/Ind/2024 M.P. State Co-operative Dairy Federation Ltd. (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 Cooper…

Mp State Co-Operative Dairy Federation Limited, Bhopal vs. ACIT, Bhopal

In the result, the appeal for A

ITA 114/IND/2024[2018-19]Status: DisposedITAT Indore26 Jul 2024AY 2018-19

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 80P(2)Section 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 Page 12 of 16 ITANo.114 & 115/Ind/2024 M.P. State Co-operative Dairy Federation Ltd. (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 Cooper…

The Mangalorean Garden Homes Co Operative Housing Society Limited, Mumbai vs. Assessment Unit Delhi, Mumbai

In the result, the appeal of assessee is allowed

ITA 1708/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Jul 2024AY 2020-21

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

For Appellant: Shri Subhash Shetty, CAFor Respondent: Shri R. R. Makwana, Sr. DR
Section 80P(2)(d)

…tion under section 80P(2)(d) as claimed by the assessee and accordingly made an addition of Rs. 41,15,820/-. The AO in this regard placed reliance on the decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totagar's Co-operative Sale Society (395 ITR 611). Aggrieved the assessee filed further appeal before the CIT(A) who upheld the disallowance made by the AO. 3. There is a delay of 161 days in filing the appeal before the Tribunal. The assessee has filed a petition seeking condonation of delay along with the affidavit from the Tax Consultant. It is mentioned in the affidavit that due to inadver…

Income Tax Officer - 25(2)(1) Mumbai, Mumbai vs. Mumbai Postal Employees Co-Operative Credit Society Ltd, Mumbai

In the result, the appeal by the Revenue and cross-objection by the assessee are dismissed

ITA 1642/MUM/2024[2018-19]Status: DisposedITAT Mumbai26 Jul 2024AY 2018-19

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Madhur AggarwalFor Respondent: Ms Usha Gaikwad, Sr. AR
Section 142(1)Section 143(2)Section 194ASection 194A(3)(v)Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…d from deposits, though Hon’ble Karnataka High Court in a detailed judgment discussing the law and various related issues Mumbai Postal Employees Co-operative Credit Society Ltd. CO. No.57/Mum/2024 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 banks u/s 80P(2)(d) of the Income tax Act in favour of Revenue”. 3. The brief facts of the case as emanating from the record are: The assessee is a co-operative credit society registered under the Maharashtra Co- operative Soci…

Vasai Urban Co-Operative C Redit Society Ltd, Vasai vs. Principal Commissioner of Income Tax, Thane

In the result, the appeal by the assessee is allowed

ITA 1507/MUM/2024[2018-19]Status: DisposedITAT Mumbai25 Jul 2024AY 2018-19

Bench: Shri B R Baskaran & Shri Sandeep Singh Karhail

For Appellant: Shri Bhupendra ShahFor Respondent: Shri Surendra Meena, Sr. DR
Section 142(1)Section 143(2)Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…tion 80P(2)(d) of the Act. By placing reliance upon the decision of the Hon‟ble Supreme Court in Totgar‟s Co-operative Sale Society Ltd vs ITO., [2010] 322 ITR 283 (SC) and Hon‟ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, [2017] 395 ITR 611 (Karn.), the learned PCIT held that interest income from investments with bank could not fall within the meaning of the expression “profits and gains of business”, and thus such interest cannot be attributable to the activities of the society. Therefore, it was held that such interest income is to be treated as income from other sources under sec…

Assistant Commissioner of Income Tax, Circle1-(1), Mangalore vs. Dakshin Kannada Co-Operative Milk Producers Union Limited., Mangalore

In the result, the appeal of the Revenue is hereby allowed for statistical purposes

ITA 597/BANG/2024[2017-18]Status: DisposedITAT Bangalore23 Jul 2024AY 2017-18

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Year: 2017-18

For Appellant: Shri A Shiva Rao, CAFor Respondent: Shri Subramanian S, JCIT
Section 80Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K, JUDICIAL MEMBER Assessment Year: 2017-18 The Asst. Commissioner of Income Tax, Vs. Dakshin Kannada Co-operative Circle - 1, Milk Producers Union Limited, Mangalore. Nandini, Kulashekar, . Mangaluru. PAN – AAAAD 0202 C APPELLANT RESPONDENT Assessee by : Shri A Shiva Rao, CA Revenue by : Shri Subramanian S, JCIT Date of hearing : 15.07.2024 Date of Pronouncement : 23.07.2024 O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: This is an appeal filed by the Revenue against the order pa…

Padubidri Co-Operative Agricultural Society, Udupi vs. Income Tax Officer, Ward-2, Udupi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 1147/BANG/2024[2017-18]Status: DisposedITAT Bangalore23 Jul 2024AY 2017-18

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Years : 2017-18

For Appellant: Shri Ravishankar S.V, AdvocateFor Respondent: Shri Subramanian S, JCIT
Section 250Section 57Section 80Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K, JUDICIAL MEMBER Assessment Years : 2017-18 Padubidri Co-operative Agricultural Vs. The Income Tax Officer, Society, Ward - 2, Head Office Sahakara Sangama, Udupi. NH 66A, Padubidri, Kaup Taluk, Udupi-574 111. PAN – AAAAP 1649 K APPELLANT RESPONDENT Assessee by : Shri Ravishankar S.V, Advocate Revenue by : Shri Subramanian S, JCIT Date of hearing : 16.07.2024 Date of Pronouncement : 23.07.2024 O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: This is an appeal filed by the assessee…

Sadhana Sahakari Patpedhi Limited, Palghar vs. CIT(A), NFAC, Delhi

ITA 55/MUM/2024[2017-18]Status: DisposedITAT Mumbai23 Jul 2024AY 2017-18

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Unmesh J NarvekarFor Respondent: ShriDr. Kishore Dhule - CIT DR
Section 143(3)Section 250Section 80PSection 80P(2)(C)Section 80P(2)(a)Section 80P(2)(d)

…ction 80P (2) of the Income Tax Act. 13. Similar issue arose for consideration b efore the Hon'ble High Court of Karnataka (Dharwad Bench) in the case of Princi pal Commissioner of Income Tax and ors. Vs. Totagars co-operative sale Society, reported in (2017) 395 ITR 611(KAR). The substantial questions of law which aro se for consideration as recorded in Para1 are reproduced as under: "(I) Whether the assessee, Totagar Co-operative Sale Society, Sirsi, is entitled to 1 00% deduction under Section 80P(2)(d) of the Income Tax Act, 1961 (for short 'th e Act') in respect of whole of its income by way of interest earn…

Sree Kanyaka Mutually Aided Co-Op Thrift Credit and Marketg. Society Limited, Hindupur vs. Income Tax Officer, Ward 1, Hindupur

In the result, the appeal of the assessee is treated as partly allowed for statistical purposes

ITA 224/HYD/2024[2018-19]Status: DisposedITAT Hyderabad22 Jul 2024AY 2018-19

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia

For Appellant: Shri D. Shree Raksha, CAFor Respondent: Shri Shakeer Ahamed, DR
Section 143(3)Section 56Section 80PSection 80P(2)(a)

…Sec.80P(2)(d) on the interest income on the investments/deposits parked with a cooperative bank. 9.3 At this juncture, we refer to subsequent decision of Hon'ble Karnataka High Court in the case of PCIT Vs. Totagars cooperative Sale Society reported in (2017) 395 ITR 611, wherein Hon’ble Court held 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 Karnataka High Court in the case of PCIT & Anr. vs. Totagars Cooperative Sale Society reported in (2017) 392 ITR 74 and Hon’ble Gujarat High Court in the case of State Bank Of Indi…

Nityanand Baug Co Operative Society Limited, Mumbai vs. Principal Commissioner of Income Tax, Mumbai

In the result, appeal is allowed in the above terms

ITA 2209/MUM/2024[2018-19]Status: DisposedITAT Mumbai19 Jul 2024AY 2018-19

Bench: Shri. Br Baskaran & Shri. Raj Kumar Chauhannityanand Baug Co-Operative Vs. Principal Commissioner Of Society Limited Income Tax Plot No. 80/83, Nity Anand Baug, R. Tower No. 6, Vashi Railway C. Marg, Chembur, Mumbai – 400 Station, Commercial Complex, 074. Vashi Navi Mumbai – 400 Pan: Aaaan6410C 703. (Appellant) (Respondent)

Section 142(1)Section 143(2)Section 263Section 80PSection 80P(2)(d)

…more be entitled for claim of deduction under Sec. 80P(4) of the Act. Although, in all fairness, we may herein observe that the Hon'ble High Court of Karnataka in the case of Pr. CIT v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), as had been relied upon by the ld. D.R before us, had held, that a co-operative society would not be entitled to claim deduction under Sec. 80P(2)(d); but then, the Hon'ble High Court in the case of Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society [2017] 78 taxmann.com 169/392 ITR 74 (Karnataka) and Hon'bl…

Shri Brijkutir Co Operative Housing Society Limited, Mumbai vs. ITO, Ward-19(3)(1), Mumbai

Accordingly, the same is dismissed

ITA 884/MUM/2024[2018-19]Status: DisposedITAT Mumbai16 Jul 2024AY 2018-19

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

For Appellant: Shri. Rajesh ShahFor Respondent: Shri. Himanshu Sharma (CIT DR)
Section 10ASection 139Section 139(1)Section 142Section 143(1)Section 143(1)(a)Section 234FSection 80P(2)(d)

…ining the judgment of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC), which was followed by the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar), and after taking into account the insertion of Section 80P(4) of the Act vide the Finance Act, 2006, the Mumbai Bench of the Tribunal had held that co-operative bank continues to be a co-operative society and therefore, assessee receiving interest from a co-operative bank would be eligible to claim deduction under Section 80P(2)(d) of the…

The United Co-Operative Credit Society Ltd, Mumbai vs. ITO Ward 17(3)(5), Mumbai

ITA 733/MUM/2024[2015-16]Status: DisposedITAT Mumbai16 Jul 2024AY 2015-16

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

For Appellant: Shri Samir VadsariaFor Respondent: Shri Himanshu Sharma
Section 143(3)Section 2(19)Section 80Section 80P(2)(d)Section 80P(4)

…15-16 the judgment of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC), which was followed by the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar), and after taking into account the insertion of Section 80P(4) of the Act vide the Finance Act, 2006, the Mumbai Bench of the Tribunal had held that co-operative bank continues to be a co-operative society and therefore, assessee receiving interest from a co-operative bank would be eligible to claim deduction under Section 80P(2)(d) of the…

Urvashi Cooperative Housing Society Limited, Santacruz vs. Income Tax Officer, Piramal Chamber Building

ITA 1235/MUM/2024[2022-23]Status: DisposedITAT Mumbai16 Jul 2024AY 2022-23

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

For Appellant: Shri Surendra TiwariFor Respondent: Shri Himanshu Sharma
Section 143(1)Section 2(19)Section 80Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…ining the judgment of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC), which was followed by the Hon’ble Karnataka High Court in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd.: 2017 395 ITR 611 (Kar), and after taking into account the insertion of Section 80P(4) of the Act vide the Finance Act, 2006, the Mumbai Bench of the Tribunal has held that co-operative bank continues to be a co-operative society and therefore, the Assessee receiving interest from a co-operative bank would be eligible to claim deduction under Section 80P(2)(d) of…

Income-Tax Officer Ward-2, Ahmednagar vs. Samta Gramin Bigarsheti Sahakari Patsanstha Maryadit, Ahmednagar

In the result, the appeal filed by the Revenue stands dismissed

ITA 180/PUN/2024[2020-21]Status: DisposedITAT Pune15 Jul 2024AY 2020-21

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.180/Pun/2024 िनधा"रण वष" / Assessment Year: 2020-21 Ito, Ward-2, Ahmednagar. Vs. Samta Gramin Bigarsheti Sahakari Patsanstha Maryadit, Newasa Shevgaon Road, Kukana, Tal. Newasa, Dist.-Ahmednagar- 414604. Pan : Aacas1915K Appellant Respondent Assessee By : Smt. Payal Rathi Revenue By : Shri Sourabh Nayak Date Of Hearing : 26.06.2024 Date Of Pronouncement 15.07.2024 : आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Dated 14.12.2023 Passed By Ld Cit(A)/Nfac For The Assessment Year 2020-21. 2. The Appellant Has Raised The Following Grounds Of Appeal :- “1. On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(Appeals) Erred In Allowing The Deduction Of Rs.1,54,02,646/- U/S 80P(2)(D) Of The Act, As The Assessee Claimed Deduction U/S 80P(2)(D) In Respect Of The Interest Income From Investment, Which Is Not The Operational Income.

For Appellant: Smt. Payal RathiFor Respondent: Shri Sourabh Nayak
Section 143(1)Section 143(2)Section 143(3)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…n law, the Ld. CIT(A) erred in allowing the deduction u/s 80P(2)(d) of the Income Tax Act without considering the decision of Hon’ble High Court of Karnataka in the case of Principal Commissioner of Income-tax, Hubballi Vs Totagars Co- operative Sale Society [395 ITR 611] dated 16/06/2017. 3. On the facts and in the circumstances of the case and in law, the Ld. CIT(Appeals) erred in allowing the deduction u/s 80P(2) (d) of the Act, without proper verification of the facts as to how the investments made by the assessee with other cooperative banks generated the operational income of the assessee, considering the f…

Silver Sand Coop Housing Soc Ltd, Goregaon (West) vs. ACIT (CPC), Bengalore

In the result, captioned appeals of the assessee are allowed

ITA 1598/MUM/2024[2013-14]Status: HeardITAT Mumbai11 Jul 2024AY 2013-14

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri Ravindra Poojari, A/RFor Respondent: Shri R.R. Makwana, Sr. D/R
Section 80PSection 80P(2)(d)

…e file of the assessing officer for fresh examination. That as regards the reliance placed by the ld. D.R on the judgment of the Hon'ble High Court of Karnataka in the case of Pr. CIT v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), the High Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where there…

Silver Sand Coop Housing Soc Ltd, Goregaon (West) vs. ACIT (CPC) Bengalore, Bengalore

In the result, captioned appeals of the assessee are allowed

ITA 1597/MUM/2024[2014-15]Status: HeardITAT Mumbai11 Jul 2024AY 2014-15

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri Ravindra Poojari, A/RFor Respondent: Shri R.R. Makwana, Sr. D/R
Section 80PSection 80P(2)(d)

…e file of the assessing officer for fresh examination. That as regards the reliance placed by the ld. D.R on the judgment of the Hon'ble High Court of Karnataka in the case of Pr. CIT v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), the High Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where there…

Silver Sand Coop Housing Soc Ltd, Goregaon (West) vs. ACIT ( CPC) Bengalore, Bengalore

In the result, captioned appeals of the assessee are allowed

ITA 1596/MUM/2024[2015-16]Status: HeardITAT Mumbai11 Jul 2024AY 2015-16

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri Ravindra Poojari, A/RFor Respondent: Shri R.R. Makwana, Sr. D/R
Section 80PSection 80P(2)(d)

…e file of the assessing officer for fresh examination. That as regards the reliance placed by the ld. D.R on the judgment of the Hon'ble High Court of Karnataka in the case of Pr. CIT v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), the High Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where there…

Aided Primary Teachers Co-Operative Society Ltd, Kottayam vs. The Itoward-1, Kottayam

In the result, appeal of the assessee is allowed

ITA 244/COCH/2023[2018-19]Status: DisposedITAT Cochin04 Jul 2024AY 2018-19

Bench: Shri Chandra Poojari & Shri Soundararajan K.Assessment Year: 2018-19

For Appellant: Sri Josekutty Jacob, A.RFor Respondent: Sri Ilaiyaraja K.S, Sr. D.R
Section 2(19)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ITA No.244/Coch/2023 Aided Primary Teachers Co-operative Society Ltd., Kottayam, Kerala IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH: COCHIN (By virtual hearing) BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment Year: 2018-19 Aided Primary Teachers Co-operative Society Ltd. M/s. Jacob and Jacob Chartered Accountants 2nd Floor, Municipal Market ITO Complex Vs. Ward-1 Market Road, Pala, Kottayam Kottayam District Kerala 686 575 PAN NO : AADAA6992R APPELLANT RESPONDENT Appellant by : Sri Josekutty Jacob, A.R. Respondent by : Sri Ilaiyaraja K.S, Sr. D.R D…