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 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 80P Section 250 Section 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

Primary Agricultural Credit Co-Operative Society Limited, Tumkur vs. Income Tax Officer, Ward 1 and Tps, Tumkur

ITA 947/BANG/2024[2017-18]Status: DisposedITAT Bangalore03 Jul 2024AY 2017-18

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2017-18

For Appellant: Shri Deepak Gunashekar, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

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

…ubmitted that the interest income received by the assessee is not to be considered as a business income since the Hon’ble Jurisdictional High Court of Karnataka has settled this issue in the case of Totgars’ Co- operative Sales Society Ltd. reported in (2017) 395 ITR 611 (Karnataka) dated 16.06.2017. Page 6 of 15 8.1 The ld. DR also submitted that the assessee has violated the principle of mutuality and lower authorities have relied on the judgment of Hon’ble Apex Court in the case of Citizen Co-operative Society Ltd. reported in (0217) 397 ITR 1 (SC). Accordingly the assessee is not eligible for deduction as ob…

Kanaka Credit Co Operative Society Limited, Chitradurga vs. Income Tax Officer, Ward-3, Davangere

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

ITA 925/BANG/2024[2014-15]Status: DisposedITAT Bangalore03 Jul 2024AY 2014-15

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2014-15

For Appellant: Ms. ShreeRaksha, DFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

Section 143(3)Section 56Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment year : 2014-15 Kanaka Credit Co-operative Vs. The Income Tax Officer, Society Ltd., Ward 3, No.1, H H Main Road, Hosadurga, Davangere. Chitradurga – 577 527. PAN : AAAAK 1889N APPELLANT RESPONDENT Appellant by : Ms. ShreeRaksha, D. Respondent by : Shri Ganesh R. Ghale, Standing Counsel Date of hearing : 19.06.2024 Date of Pronouncement : 03.07.2024 O R D E R Per Laxmi Prasad Sahu, Accountant Member This appeal is filed by the assessee against the order d…

Shri Neelakanteshwar Pattin Sahakari Sangh Niyamit, Guledgudd vs. ITO W(1) Bagalkot, Bagalkot

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

ITA 600/BANG/2024[2021-22]Status: DisposedITAT Bangalore03 Jul 2024AY 2021-22

Bench: Shri George George K & Shri Waseem Ahmedr Assessment Year : 2021-22 M/S. Shri Neelakanteshwar Pattina Sahakari Vs. Ito, Sangh Niyamit Guledgudd, Ward – 1, No. Ward No.4 Colleg Road, Bagalkot. Guledgudd – 587 203, Karnataka. Pan : Aawas 7201 C Appellant Respondent Assessee By : S/Shri. Deepak Gunashekar, Ca, Prasanna N. Urala, Advocate Revenue By : Shri. Ganesh R Ghale, Standing Counsel. Date Of Hearing : 30.05.2024 Date Of Pronouncement : 03.06.2024

For Appellant: S/Shri. Deepak Gunashekar, CAFor Respondent: Shri. Ganesh R Ghale, Standing Counsel

Section 143Section 250Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…he case of Totgars Co-operative Sale Society Ltd., Vs. ITO [2010] 322 ITR 283 (SC). Further the AO, by placing reliance on the judgment of the Hon’ble jurisdictional High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd., reported in [2017] 395 ITR 611 (Karnataka) also did not grant deduction under section 80P(2)(d) of the Act. Accordingly, the income of the assessee was assessed at Rs.8,71,150/- instead of ‘Nil’ return of income filed by the assessee. 4. Aggrieved by the Order of Assessment denying partly the deduction claimed under section 80P of the Act, assessee preferred appeal before the…

Jiwan Satya Co-Operative Housing Society Ltd., Mumbai vs. Assistant Director of Income Tax, Central Processing Centre, Bangalore, Mumbai

In the result, the captioned appeals are allowed

ITA 1382/MUM/2024[2020-2021]Status: DisposedITAT Mumbai02 Jul 2024AY 2020-2021

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

For Appellant: Ms. Neelam C. Jadhav, A/RFor Respondent: Shri Himanshu Sharma, CIT, D/R

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

…had set aside the issue to the 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 Vs. Totagars co-operative Sale Society (2017) 395 ITR 611 (Karn), 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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-ju…

Jiwan Satya Co-Operative Housing Society Ltd., Mumbai vs. Assistant Director of Income Tax, Central Processing Centre, Bangalore, Mumbai

In the result, the captioned appeals are allowed

ITA 1381/MUM/2024[2021-2022]Status: DisposedITAT Mumbai02 Jul 2024AY 2021-2022

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

For Appellant: Ms. Neelam C. Jadhav, A/RFor Respondent: Shri Himanshu Sharma, CIT, D/R

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

Bangady Co-Operative Agricultural Society Limited, Belthangady vs. Income Tax Officer, Ward-1, Puttur

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

ITA 739/BANG/2024[2017-18]Status: DisposedITAT Bangalore01 Jul 2024AY 2017-18

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavbangady Co-Operative The Income Tax Officer Agricultural Society Ltd. Ward - 1, Puttur Indabettu Village, Bangady Post Vs. Belthangady 574214 Pan – Aaefb0377M (Appellant) (Respondent) Assessee By: Shri Sandeep Chalapathy, Ca Revenue By: Ms. Neha Sahay, Jcit-Dr Date Of Hearing: 27.06.2024 Date Of Pronouncement: 01.07.2024 O R D E R Per: Prakash Chand Yadav, J.M. This Appeal Filed By The Assessee Challenges The Din & Order No. Itba/Nfac/S/2003-24/1061393066(1) Of The National Faceless Appeal Centre, Delhi (Cit(A)) Dated 23.02.2024 Passed Under Section 250 Of The Income Tax Act, 1961 (The Act) In Respect Of Assessment Year (Ay) 2017-18. 2. The Brief Facts Of The Case Are That The Assessee Is Multipurpose Co- Operative Society Engaged In The Business Of Acceptance Of Deposits From Members, Lending Of Loans To Members & Providing Public Distribution Services. For The Year Under Consideration It Has Filed It Return Of Income Declaring Total Income Of Rs. 2.96 Crores On 02.11.2017. The Case Of The Assessee Was Selected For Scrutiny After Issuing Statutory Notices. During The Course Of Assessment Proceedings The Ld. Assessing Officer (Ao), Inter Alia, Observed That The Assessee Society Is Not Governed By The Principles Of Mutuality & Hence Deduction Claimed

For Appellant: Shri Sandeep Chalapathy, CAFor Respondent: Ms. Neha Sahay, JCIT-DR

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

…dy Co-operatie Agricultural Society Ltd. by the assessee in respect of interest earned on investment to be disallowed. The ld. AO has relied upon the judgement of the Hon'ble Karnataka High Court in the case of PCIT v. Totgars Co-operative Sale Society [2017] 395 ITR 611 (Kar). The Ld AO has finally assessed the interest income as income from other sources without providing deduction of corresponding expenses. The AO also disallowed certain provisions made by the assessee on the ground that the same are not ascertained liabilities and hence not allowable. 3. Aggrieved with the order of the AO the assessee filed…

Alnavar Credit Souhardha Co-Operative Limited, Alnavar vs. Income Tax Officer, Ward-1(1), Hubli

ITA 738/BANG/2024[2020-21]Status: DisposedITAT Bangalore28 Jun 2024AY 2020-21

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2020-21

For Appellant: Ms. Shreeraksha, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

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

…ubmitted that the interest income received by the assessee is not to be considered as a business income since the Hon’ble Jurisdictional High Court of Karnataka has settled this issue in the case of Totgars’ Co- operative Sales Society Ltd. reported in (2017) 395 ITR 611 (Karnataka) dated 16.06.2017. 7. The ld. DR also submitted that in the case of Kerala State Co- operative Agricultural and Rural Development Bank Ltd. KSCARDB vs. Assessing Officer, (2023) 154 taxmann.com 305 the Hon’ble Supreme Court has clearly held that if the payer bank holds licence from RBI for carrying out banking business, then the intere…

Sunrise Souharda Pattina Sahakari Niyamitha, Tumakuru vs. Income Tax Officer, Ward-1, Tumkur

ITA 734/BANG/2024[2018-19]Status: DisposedITAT Bangalore28 Jun 2024AY 2018-19

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2020-21

For Appellant: Shri Ravishankar, Advocate

Section 143(2)Section 143(3)Section 234Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 8o

…ion of Hon’ble Supreme Court in case of Citizen Co- Page 4 of 17 operative Society Ltd. vs. ACIT reported in (2017) 84 taxmann.com 114 and the decision of Hon'ble Karnataka High Court in case of Totagars Co-operative Sales Society vs. ACIT reported in (2017) 395 ITR 611 disallowed the claim of assessee u/s. 80P(2)(d) of the act for the year under consideration. 2.4 Aggrieved by the orders of the Ld.CIT(A), assessee is in appeal before this Tribunal. 3. The Ld.AR submitted that assessee being a primary agricultural credit co-operative society is engaged in the business of providing credit facilities to its memb…

Kumkum Kavita Cooperative Housing Society Limited, Mumbai vs. Income Tax Officer -27(1)(1), Mumbai (Current Jurisdiction), It-Office, Vasi Railway Station Building, Navi Mumbai

In the result, appeal of the assessee is allowed

ITA 712/MUM/2024[2020-21]Status: DisposedITAT Mumbai28 Jun 2024AY 2020-21

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Section 143(1)Section 143(1)(a)Section 2Section 4Section 80Section 80ISection 80PSection 80P(2)(d)

…2)(d) is not allowable in view of the decision of the Hon’ble Supreme Court in the case of Totagars Cooperative Societies Ltd. reported in 322 ITR 323 and decision of the Hon’ble Karanataka High Court in the case of PCIT vs. Totagars Cooperative Sale Society (395 ITR 611). 3. The issue, whether disallowance can be made u/s 80P (2) (d) within the scope of adjustment u/.s143(1)(a). First of all, the primafacie adjustment for disallowance u/s.143(1) has been made on the ground that assessee has not filed the return of income during the due date. The assessee being a Coopertaive Housing Society and is eligbile for d…

Aashna Enclave Co-Operative Housing Society Limited, Mumbai vs. CIT- Appeals, Delhi

In the result, appeal of the assessee is allowed

ITA 332/MUM/2024[2021-22]Status: DisposedITAT Mumbai28 Jun 2024AY 2021-22

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Section 10ASection 139Section 139(1)Section 143(1)(a)Section 154Section 2Section 80Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER Aashna Enclave Co- Vs. CIT – Appeals operative Housing National Faceless Society Limited Appeal Centre, CTS No. 154, Income Tax Pandurang Wadi, Department, Road No. 1, Delhi - 110001 Goregaon (East) Maharashtra - 400063 PAN/GIR No. AADAA0703E (Appellant) .. (Respondent) Assessee by Shri Desai N. Khanolkar Revenue by Ms. Kakoli Gosh Date of Hearing 26/06/2024 Date of Pronouncement 28/06/2024 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed…

Su Prabhat Co Operative Housing Society Ltd, Mumbai vs. Income Tax Officer, Mumbai

In the result, both the appeals of the assessee are allowed

ITA 1089/MUM/2024[2016-2017]Status: DisposedITAT Mumbai28 Jun 2024AY 2016-2017

Section 143(1)Section 80PSection 80P(1)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL,‘SMC’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI. RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER AND Su Prabhat Cooperative Vs. Income Tax Housing Society Ltd. Mumbai Officer, Mumbai 76, Su Prabhat Cooperative Ward 19(3)(4), Housing Society Ltd, Mumbai Bhulabhai Desai Road, Whakeshwar, Mumbai – 400 026. PAN/GIR No. AAAAS5937P (Appellant) .. (Respondent) Assessee by Shri. Rajendra Bhende Revenue by Shri. R. R. Makwana Date of Hearing 19/06/2024 Date of Pronouncement 28/06/2024 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeals have been filed by the ass…

Su Prabhat Co Operative Housing Society Ltd, Mumbai vs. Income Tax Officer, Mumbai

In the result, both the appeals of the assessee are allowed

ITA 1079/MUM/2024[2017-2018]Status: DisposedITAT Mumbai28 Jun 2024AY 2017-2018

Section 143(1)Section 80PSection 80P(1)Section 80P(2)(d)Section 80P(4)

Shubham Nagri Sahakari Patsanstha Maryadit, Mumbai vs. Income Tax Officer, Ward 41(2)(5), Mumbai

In the result, appeal of the assessee is allowed

ITA 1065/MUM/2024[2013-14]Status: DisposedITAT Mumbai28 Jun 2024AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Section 143(3)Section 2Section 263Section 4Section 80Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER Shubham Nagri Vs. Income Tax Officer, Sahakari Patsanstha Ward 41(2)(5) Maryadit Kautilya Bhavan, 997, 2/2 Aadarsh Mumbai – 400051 Housing Society, Parksite, Vikhroli (West), Mumbai – 400079 PAN/GIR No.AAGTS9805F (Appellant) .. (Respondent) Assessee by None Revenue by Ms. Kakoli Ghosh Date of Hearing 27/06/2024 Date of Pronouncement 28/06/2024 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against order dated 08/01/2024…

Veer Jijamata Co Op Credit Society Limited, Mumbai vs. Commisioner of Income Tax(Appeals), Mumbai

In the result, the appeal of the assessee is allowed

ITA 4216/MUM/2023[AY 20-21]Status: DisposedITAT Mumbai28 Jun 2024

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriveer Jijamata Co Op. Credit Vs. Cit(A) Ward 20(3)(1), Society Ltd. Piramal Chamber, 1/10 Ameher Market Bldg., Mumbai-4000012 B A Ambedkar Road, V. J. B. Udyan S. O., Mumbai-400027 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaav5873D Appellant .. Respondent

For Appellant: Mr. Vanesh Kr. NadarFor Respondent: Shri Himanshu Kumar

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

…society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT 421 ITR 134. 6. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here that the Hon'ble High Court while rendering the later judgement has not considered the earlier decision rendered in the case of Tot…

Shree Kumbhajai Co-Op Society Ltd, Mumbai vs. ACIT, CPC, Bangaluru

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

ITA 183/MUM/2024[2020-21]Status: DisposedITAT Mumbai27 Jun 2024AY 2020-21

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2020-21

For Appellant: Shri Ravi Dasija, A.RFor Respondent: Shri Nagnath Pasale, D.R

Section 143(1)Section 154Section 234ASection 250Section 80PSection 80P(2)(d)

…would be entitled for claim of deduction under sec.80P(2)(d) of the Act." 13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr. CIT v. Totagars Cooperative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Cooperative Society, from surplus deposits kept with a Co- operative Bank, was not eligible for deduction under section 80P(210) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr. CT v. Totagars Co-operative Sale Society (2017) 78 taxmann.com 169/392…

Alankar Primary Agricultural Credit Co Operative Society, Alankar vs. Income Tax Officer, Ward-1, Puttur

ITA 814/BANG/2024[2020-21]Status: DisposedITAT Bangalore26 Jun 2024AY 2020-21

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2020-21

For Appellant: Shri Srikrishna Kantilia, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

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

…the interest income received by the assessee is not to be considered as a business income since the Hon’ble Jurisdictional High Page 7 of 14 Court of Karnataka has settled this issue in the case of Totgars’ Co- operative Sales Society Ltd. reported in (2017) 395 ITR 611 (Karnataka) dated 16.06.2017. 8. The ld. DR also submitted that in the case of Kerala State Co- operative Agricultural and Rural Development Bank Ltd. KSCARDB vs. Assessing Officer, (2023) 154 taxmann.com 305 the Hon’ble Supreme Court has clearly held that if the payer bank holds licence from RBI for carrying out banking business, then the intere…

Income Tax Officer 30 1 1, Mumbai vs. Tifr Emp Co-Op Cr Soc Limited, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 808/MUM/2024[2021-22]Status: DisposedITAT Mumbai26 Jun 2024AY 2021-22

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

For Appellant: Shri Navin Gandhi, A.RFor Respondent: Shri P.D. Chougule (Addl. CIT), SR. D.R

Section 143(1)Section 194ASection 194A(3)(v)Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…tion u/s.80P(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 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)(d) of the Income tax Act in favours of Revenue." 5. The appellant craves leave to amend or alter or add a new ground which may be necessary.” 3. The facts of the case, in brief, are that the appellant is a coop…

Income Tax Officer -30(1)(1), Mumbai vs. Tifr Emp Co-Op Cr Soc Limited, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 806/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Jun 2024AY 2020-21

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

For Appellant: Shri Navin Gandhi, A.RFor Respondent: Shri P.D. Chougule (Addl. CIT), D.R

Section 143(1)Section 194ASection 194A(3)(v)Section 250Section 80PSection 80P(2)(d)Section 80P(4)

…ax Act, 1961 in respect of interest earned from deposits, though Hon'ble Karnataka High Court in a detailed judgment discussing the law and 3 Tifr EMP Co-Op CR Soc. Limited 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)(d) of the Income tax Act in favours of Revenue." 5. The appellant craves leave to amend or alter or add a new ground which may be necessary.” 3. The facts of the case, in brief, are that the assessee is a Co-ope…

Kamal Co-Op Hsg Society Ltd, Mumbai vs. Income Tax Ward 19(2)(2), Mumbai

In the result, the appeal is allowed

ITA 4796/MUM/2023[2021-22]Status: DisposedITAT Mumbai26 Jun 2024AY 2021-22

Bench: Shri Amit Shukla & Shri Ratnesh Nandan Sahayassessment Year: 2021-22 M/S. Kamal Co-Op Hsg Income Tax Ward Society Ltd. 19(2)(2) 69, Kamal Society, Room No.608, Vs. 6Th Floor, Walkeshwar Road, Mumbai - 400006 Piramal Chambers, Pan: Aaaak0570C Lalbaug, Mumbai - 400012 (Appellant) (Respondent) Present For: Assessee By : None Revenue By : Shri P.D. Chougule (Addl. Cit), Sr. D.R. Date Of Hearing : 22 . 05 . 2024 Date Of Pronouncement : 26 . 06 . 2024 O R D E R Per: Ratnesh Nandan Sahay: 1. This Appeal Has Been Filed Against The Order Of The Ld. Cit Appeal Passed U/S 250 Of The Income Tax Act [The ‘Act’ In Short] Vide Din & Order No. Itba/Nfac/S/250/2023-24/1058240824(1) Dated 26/11/2023 For The Assessment Year 2021-22. 2. The Following Grounds Of Appeal Have Been Raised:

For Appellant: NoneFor Respondent: Shri P.D. Chougule (Addl. CIT), SR. D.R

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

…of the assessee and will be taxed under the head ‘Income from other sources’. The Ld. Assessing Officer has also placed reliance on the decisions of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totagar Co. op. Sale society Ltd. reported in (2017) 395 ITR 611 (Kar). 4 M/s. Kamal Co-op HSG Society Ltd 5. Aggrieved by the order of the Ld. assessing officer, the assessee filed appeal before the Ld. CIT (A) who, vide its order no. ITBA/NFAC /S/250/2023-24/1058240824(1) dated 26/11/2023 confirmed the order of the Ld. assessing officer on the ground that though the assessee had relied on various decisions…

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Income Tax Officer-30 (1) (1), Mumbai

In the result, all the four appeals filed by the assessee which are under consideration are allowed on the same terms

ITA 4763/MUM/2023[2014-15]Status: DisposedITAT Mumbai26 Jun 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2018-19 Assessment Year: 2019-20

For Appellant: Shri Kunal Dilip Lunawat, A.RFor Respondent: Shri Nagnath Pasale, D.R

Section 143(1)Section 154Section 250Section 80PSection 80P(2)(d)

…on under Sec. 80P(2) (d) on the interest income on the investments/deposits parked with a co-operative bank. Although, in all fairness, we may observe that the Hon'ble High Court of Karnataka in the case of Pr. CIT Vs. Totagars cooperative Sale Society (2017) 395 ITR 611 (Karn), had concluded that a cooperative 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…