What is Pr. CIT v. Totagars authority for?

Interest income earned by a cooperative society from surplus deposits or investments held with a cooperative bank is not eligible for deduction under Section 80P(2)(d) of the Act.

How many judgments cite Pr. CIT v. Totagars?

1,074 judgments on BharatTax cite Pr. CIT v. Totagars (395 ITR 611), spanning 2017 to 2026.

Which sections of the Income Tax Act does Pr. CIT v. Totagars come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(2)(a)(i), Section 80P(4), Section 143(3), Section 80P, Section 250.

Pr. CIT v. Totagars (395 ITR 611)

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Income Tax Officer-41 (3) (4), Mumbai

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

ITA 4762/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Jun 2024AY 2018-19

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…

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Centralized Processing Center, Bangalore

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

ITA 4761/MUM/2023[2019-20]Status: DisposedITAT Mumbai26 Jun 2024AY 2019-20

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…

Raheja Chambers Premises Co Operative Society Limited, Mumbai vs. ITO Ward 26(1)(1), Mumbai

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

ITA 630/MUM/2024[2014-15]Status: DisposedITAT Mumbai25 Jun 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry & Shri Girish Agrawalassessment Year: 2014-15

For Appellant: Shri Nitesh Joshi &For Respondent: Smt Mahita Nair, Sr. D.R

Section 143(3)Section 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…

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

In the result, all the appeals are allowed

ITA 35/MUM/2024[2021-22]Status: DisposedITAT Mumbai25 Jun 2024AY 2021-22

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2018-19 Assessment Year: 2020-21 & Assessment Year: 2021-22

For Appellant: Ms. Kinjal Bhuta, A.RFor Respondent: Shri Nagnath Pasale, D.R

Section 143(1)Section 154Section 250Section 80P(2)(c)Section 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…

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

In the result, all the appeals are allowed

ITA 34/MUM/2024[2020-21]Status: DisposedITAT Mumbai25 Jun 2024AY 2020-21

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2018-19 Assessment Year: 2020-21 & Assessment Year: 2021-22

For Appellant: Ms. Kinjal Bhuta, A.RFor Respondent: Shri Nagnath Pasale, D.R

Section 143(1)Section 154Section 250Section 80P(2)(c)Section 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…

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

In the result, all the appeals are allowed

ITA 33/MUM/2024[2018-19]Status: DisposedITAT Mumbai25 Jun 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2018-19 Assessment Year: 2020-21 & Assessment Year: 2021-22

For Appellant: Ms. Kinjal Bhuta, A.RFor Respondent: Shri Nagnath Pasale, D.R

Section 143(1)Section 154Section 250Section 80P(2)(c)Section 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…

Shri Ganesh Urban Cooperative Credit Society Limited, Aurangabad vs. Income Tax Officer, Ward-1(1), Aurangabad

In the result, appeal of the assessee is partly allowed

ITA 196/PUN/2024[2017-18]Status: DisposedITAT Pune21 Jun 2024AY 2017-18

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.196/Pun/2024 िनधा"रण वष" / Assessment Year:2017-18 Shri Ganesh Urban V The Income Tax Officer, Cooperative Credit Society S Ward-1(1), Aurangabad. Limited, Main Market, Sarafa Galli, Sillod, Auranbabad – 431112. Pan: Aagas6006D Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri Arvind Desai – Dr Date Of Hearing 13/06/2024 Date Of Pronouncement 21/06/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] Under Section 250 Of The Act, Dated 05.12.2023 For The A.Y.2017-18. The Assessee Has Raised The Following Grounds Of Appeal : “Being Aggrieved By The Order Of Ld. Cit (A), Income Tax Department, Nfac U/S. 250 Of The It Act, 1961 Vide Order No.Itba/Nfac/S/250/2023-24/1058480083(1), Dated 05/12/2023. The Said Order Is Passed By Dismissing Appeal Filed By The Appellant Society Against The Order Passed By The Assessing Officer Ward 1(4), Aurangabad, [Now Ward 1(1), Aurangabad] Hence The Appellant Society Shri Ganesh Urban Cooperative Credit Society Limited [A]

Section 143(3)Section 234BSection 250Section 69ASection 80Section 80P(2)(a)

…43(3) on 29.12.2019. In the assessment order, assessee’s claim for 2 Shri Ganesh Urban Cooperative Credit Society Limited [A] deduction u/sec.80P(2)(a) was rejected following decision of the Hon’ble Karnataka High Court in Totagars Co-operative Sales Society 395 ITR 611. During the assessment proceedings, AO observed that assessee had made cash deposits during the demonetization period. AO added the amount of Rs.98,69,221/- u/sec.69A of the Act. Aggrieved by the assessment order, assessee filed appeal before the ld.CIT(A). Ld.CIT(A) upheld the assessment order. Submission of ld.AR : 3. At the outset of hearing,…

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. Assistant Commissioner of Income Tax Circle 22(3), Mumbai

In the result, the appeals for AY 2017-18, 2018-19 & 2020-21 of the assessee are allowed

ITA 544/MUM/2024[2017-2018]Status: DisposedITAT Mumbai21 Jun 2024AY 2017-2018

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Ashish A. Thakurdesai, CAFor Respondent: Shri Dr. Kishor Dhule, CIT-DR &

Section 80PSection 80P(2)(d)

…om Co-operative Banks. Aggrieved the assessee filed further appeal before the CIT(A). The CIT(A) confirmed the disallowance by placing reliance on the decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totgars Cooperative Sale Society (2017) 395 ITR 611 (Kar). The assessee is in appeal before the Tribunal against the order of the CIT(A). 4. The ld. Authorized Representative (AR) of the assessee submitted that the AO has denied the deduction under section 80P(2)(d) of the Act for the reason that the deduction is claimed towards interest received from deposits with Co-operative Bank. The ld. AR f…

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. National E-Assessment Centre, New Delhi

ITA 543/MUM/2024[2018-2019]Status: DisposedITAT Mumbai21 Jun 2024AY 2018-2019

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

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

…om Co-operative Banks. Aggrieved the assessee filed further appeal before the CIT(A). The CIT(A) confirmed the disallowance by placing reliance on the decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totgars Cooperative Sale Society (2017) 395 ITR 611 (Kar). The assessee is in appeal before the Tribunal against the order of the CIT(A). 4. The ld. Authorized Representative (AR) of the assessee submitted that the AO has denied the deduction under section 80P(2)(d) of the Act for the reason that the deduction is claimed towards interest received from deposits with Co-operative Bank. The ld. AR fu…

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. National E-Assessment Centre, New Delhi

In the result, the appeals for AY 2017-18, 2018-19 & 2020-21 of the assessee are allowed

ITA 542/MUM/2024[2020-2021]Status: DisposedITAT Mumbai21 Jun 2024AY 2020-2021

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Ashish A. Thakurdesai, CAFor Respondent: Shri Dr. Kishor Dhule, CIT-DR &

Section 80PSection 80P(2)(d)

…om Co-operative Banks. Aggrieved the assessee filed further appeal before the CIT(A). The CIT(A) confirmed the disallowance by placing reliance on the decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totgars Cooperative Sale Society (2017) 395 ITR 611 (Kar). The assessee is in appeal before the Tribunal against the order of the CIT(A). 4. The ld. Authorized Representative (AR) of the assessee submitted that the AO has denied the deduction under section 80P(2)(d) of the Act for the reason that the deduction is claimed towards interest received from deposits with Co-operative Bank. The ld. AR f…

ITO-22(1)(6), Mumbai vs. Ahuja Tower Co Operative Housing Society Ltd., Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 1060/MUM/2024[2018-19]Status: DisposedITAT Mumbai20 Jun 2024AY 2018-19

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Harmesh Lal, Sr. DR

Section 143Section 143(3)Section 250Section 80PSection 80P(2)(d)

…rest earned from the Co-operative Banks is allowable as a deduction under section 80P(2)(d) of the Act. 12. We find that the AO has placed reliance upon the decision of the Hon’ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, [2017] 395 ITR 611 (Karn.) in support of its conclusion that interest derived from fixed deposits in Co-operative Banks is not eligible for deduction under section 80P(2)(d) of the Act and should be treated as “income from other sources” under section 56 of the Act. We find that the coordinate bench of the Tribunal in Pathare Prabhu Co–operative Housing Society Ltd…

Income Tax Officer-22(1)(6), Mumbai vs. Ahuja Tower Co Operative Housing Society Limited, Mumbai

In the result, the appeal by the assessee is allowed, while the appeal by the Revenue is dismissed

ITA 859/MUM/2024[2020-21]Status: DisposedITAT Mumbai19 Jun 2024AY 2020-21

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Sunny Kachhwaha

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

…est earned from the Co-operative Banks is allowable as a deduction under section 80P(2)(d) of the Act. 12. We find that the AO has placed reliance upon the decision of the Hon’ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, [2017] 395 ITR 611 (Karn.) in support of its conclusion that interest derived from fixed deposits in Co-operative Banks is not eligible for deduction under section 80P(2)(d) of the Act and should be treated as “income from other sources” under section 56 of the Act. We find that the coordinate bench of the Tribunal in Pathare Prabhu Co–operative Housing Society Ltd…

Ahuja Tower Co-Operative Housing Society Limited, Mumbai vs. Jurisdiction Ward 22(1)(6), Piramal Chamber, Mumbai

ITA 644/MUM/2024[2020-21]Status: DisposedITAT Mumbai19 Jun 2024AY 2020-21

Bench: Shri Narendra Kumar Billaiya & Shri Sandeep Singh Karhail

For Appellant: Shri Anil SatheFor Respondent: Shri Sunny Kachhwaha

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

…rest earned from the Co-operative Banks is allowable as a deduction under section 80P(2)(d) of the Act. 12. We find that the AO has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, [2017] 395 ITR 611 (Karn.) in support of its conclusion that interest derived from fixed deposits in Co-operative Banks is not eligible for deduction under section 80P(2)(d) of the Act and should be treated as “income from other sources" under section 56 of the Act. We find that the coordinate bench of the Tribunal in Pathare Prabhu Co-operative Housing Society Ltd…

M/S. Sri. Vasavi Vividoddesha Souharda Sahakari Niyamitha, Kollegal vs. Income Tax Officer, Ward-1, Chamarajanagar

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

ITA 829/BANG/2024[2017-18]Status: DisposedITAT Bangalore13 Jun 2024AY 2017-18

Bench: Shri George George K & Shri Waseem Ahmedr Assessment Year : 2017-18 M/S. Sri Vasavi Vividoddesha Souharda Vs. Ito, Sahakari Niyamitha, Ward – 1, 7/454A, Srinivasa Mansion, I Floor, Chamarajanagar. New Bus Stand Road, Kollegal – 571 440. Pan : Aadas 1521 L Appellant Respondent Assessee By : Shri. Vageesh Hegde, Ca Revenue By : Shri. Ganesh R Gale, Standing Counsel For Department. Date Of Hearing : 12.06.2024 Date Of Pronouncement : 13.06.2024

For Appellant: Shri. Vageesh Hegde, CAFor Respondent: Shri. Ganesh R Gale, Standing Counsel for Department

Section 2(19)Section 250Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…o-operative society, hence, assessee cannot be granted deduction under section 80P(2)(d) of the Act. In taking the above view, the CIT(A) relied on the judgment of the Hon’ble jurisdictional High Court in the case of PCIT Vs. Totgars Sales Society reported in 395 ITR 611 (Karnataka). 4. Aggrieved by the Order of the CIT(A), assessee has preferred this appeal before the Tribunal. The learned AR submitted that co-operative banks are only species of a society and the receipt of interest income from such co-operative banks is also entitled to deduction under section 80P(2)(d) of the Act. Page 3 of 4 Alternatively,…

The Savanoor Primary Agriculture Credit Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward-1, Puttur

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

ITA 676/BANG/2024[2017-18]Status: DisposedITAT Bangalore13 Jun 2024AY 2017-18

Bench: Shri George George K & Shri Waseem Ahmedr Assessment Year : 2017-18 M/S. Savanoor Primary Agriculture Credit Vs. Ito, Co-Operative Society Ltd., Ward – 1, Savanoor Co-Operative Agricultural Bank Ltd., Puttur. Savanoor – 574 202. Pan : Aaeat 1118 M Appellant Respondent Assessee By : Shri. Srikrishna, Ca Revenue By : Shri. Ramnathan, Addl. Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 12.06.2024 Date Of Pronouncement : 13.06.2024

For Appellant: Shri. Srikrishna, CAFor Respondent: Shri. Ramnathan, Addl. CIT(DR)(ITAT), Bengaluru

Section 143(3)Section 250Section 80PSection 80P(2)(a)

…o further disallowed deduction claimed under section 80P of the Act for the interest income received from co-operative banks by placing reliance on the judgment of the Hon’ble jurisdictional High Court in the case of PCIT Vs. Totgars Sales Society reported in 395 ITR 611 (Karnataka). 3. Aggrieved by the Assessment Order passed under section 143(3) of the Act, assessee preferred appeal before the CIT(A). The CIT(A) partly allowed the appeal of the assessee. The CIT(A), following the judgment of the Hon’ble Apex Court in the case of Mavilayi Service Co-operative Bank Ltd., & Ors. Vs. CIT, reported in 431 ITR 1, di…

Assistant Commissioner of Income Tax, Tarabai Park, Kolhapur vs. Kolhapur Zilla Sahakari Dudh Utpadak Sangh Limited, Kolhapur

ITA 301/PUN/2024[2020-21]Status: HeardITAT Pune10 Jun 2024AY 2020-21

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No.0301/Pun/2024 निर्धारण वषा / Assessment Year : 2020-21 Asstt. Commissioner Of Income Tax, Kolhapur . . . . . . . अपीलार्थी / Appellant बिधम / V/S. Kolhapur Zilla Sahakari Dudh Utpadak Sangh Ltd. B-1 Midc, Gokul Shirgaon, Kolhapur-416234 Pan: Aaaak0230D . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Pranjal Phadnis [‘Ld. Ar’] Revenue By : Mr Keyur Patel & Ramnath Murkunde [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 30/05/2024 घोषणा की तारीख / Date Of Pronouncement : 10/06/2024 आदेश / Order Per G. D. Padmahshali, Am; This Appeal Filed U/S 253(2) Of The Income Tax Act [‘The Act’] By The Revenue Challenges The Order Of National Faceless Appeal Centre, Delhi [‘Nfac/Cit(A)’] In Din & Order Itba/Nfac/S/250/2023-24/1058957688(1) Dt. 21/12/2023 Passed U/S 250 Of The Act Which In Turn Arisen Out Of Respective Orders Of Assessment Passed U/S 143(3) R.W.S. 144B Of The Act.

For Appellant: Mr Pranjal Phadnis [‘Ld. AR’]For Respondent: Mr Keyur Patel & Ramnath Murkunde [‘Ld. DR’]

Section 143(2)Section 143(3)Section 250Section 253(2)Section 80GSection 80PSection 80P(2)Section 80P(2)(d)

…mkur Merchants Souharda Credit Cooperative Ltd. (supra). 10. Insofar as the reliance of the ld. DR on the case of Pr. CIT ITAT-Pune Page 5 of 6 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…

Yogiraj Nagari Sahkari Patsanstha Maryadit, Pune vs. ITO, Ward 2(2), Pune

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

ITA 1152/PUN/2023[2020-21]Status: DisposedITAT Pune06 Jun 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.1152/Pun/2023 "नधा"रण वष" Assessment Year : 2020-21

For Appellant: Shri Rohit KasatFor Respondent: Shri Sourabh Nayak

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

…3. Being aggrieved, an appeal was filed before the NFAC, who vide impugned order placing reliance on the judgments of Hon’ble Supreme Court in the case of Totgar Cooperative Sale Society Ltd. 322 ITR 283 (SC) and PCIT Vs. Totgars Cooperative Sale Society Ltd. 395 ITR 611 (Kar HC) etc. confirmed the action of the AO 4. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal. 5. The ld. AR submits that the case of the assessee is covered by virtue of decisions passed by the Pune Benches of the Tribunal allowing the deduction u/s.80P(2)(a)(i)/80P(2)(d), therefore, prayed for reversin…

Indapur Taluka Prathmik Shikshakanchi Sahakari Patasnatha Maryadit, Pune vs. Income Taxofficer, Ward 14(5), Pune

In the result, the appeal of the assessee is allowed

ITA 348/PUN/2024[2018-19]Status: DisposedITAT Pune04 Jun 2024AY 2018-19

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Ramnath P. Murkunde

Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…2024, AY 2018-19 assessee by the Hon'ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). 10. Insofar as the reliance of the Id. DR on the case of Pr. CIT 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 co-operative society on investments made in co-operative banks. In that case, the assessee was engaged in the activity of marketing agricultural produce by its members; accepting deposits from its m…

Dahisar Sanskruti Cooperative Housing Society Ltd., Mumbai vs. Centralized Processing Unit, Income Tax Department, Bangalore

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

ITA 209/MUM/2024[2020-21]Status: DisposedITAT Mumbai04 Jun 2024AY 2020-21

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

For Appellant: Shri Anand Desai, A.RFor Respondent: Shri C.T. Mathews, Sr. DR

Section 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…

Talegaon Nagari Sahakari Patsanstha Limited, Pune vs. Income Tax Officer Ward-9(3), Pune

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

ITA 743/PUN/2024[2020-21]Status: DisposedITAT Pune03 Jun 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.743/Pun/2024 "नधा"रण वष" Assessment Year : 2020-21 Talegaon Nagari Sahakari Vs. Ito, Ward-9(3), Patsanstha Limited, Pune Bajar Peth, Talegaon Dabhade, Tal. Maval, Dist. Pune 410506 Maharashtra Pan : Aabat3160G Appellant Respondent

For Appellant: NoneFor Respondent: Shri Sourabh Nayak

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA No.743/PUN/2024 "नधा"रण वष" Assessment Year : 2020-21 Talegaon Nagari Sahakari Vs. ITO, Ward-9(3), Patsanstha Limited, Pune Bajar Peth, Talegaon Dabhade, Tal. Maval, Dist. Pune 410506 Maharashtra PAN : AABAT3160G Appellant Respondent Assessee by : None Revenue by : Shri Sourabh Nayak Date of hearing : 03.06.2024 Date of pronouncement : 03.06.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the orde…

Pr. CIT v. Totagars

What is Pr. CIT v. Totagars authority for?

Also referred to as

Also reported as

Sections most often in play

Issues it is cited on

Judgments citing Pr. CIT v. Totagars

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Income Tax Officer-41 (3) (4), Mumbai

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Centralized Processing Center, Bangalore

Raheja Chambers Premises Co Operative Society Limited, Mumbai vs. ITO Ward 26(1)(1), Mumbai

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

Shri Ganesh Urban Cooperative Credit Society Limited, Aurangabad vs. Income Tax Officer, Ward-1(1), Aurangabad

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. Assistant Commissioner of Income Tax Circle 22(3), Mumbai

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. National E-Assessment Centre, New Delhi

Shah and Nahar Industrial Premises A2Co-Op Society Limited, Mumbai vs. National E-Assessment Centre, New Delhi

ITO-22(1)(6), Mumbai vs. Ahuja Tower Co Operative Housing Society Ltd., Mumbai

Income Tax Officer-22(1)(6), Mumbai vs. Ahuja Tower Co Operative Housing Society Limited, Mumbai

Ahuja Tower Co-Operative Housing Society Limited, Mumbai vs. Jurisdiction Ward 22(1)(6), Piramal Chamber, Mumbai

M/S. Sri. Vasavi Vividoddesha Souharda Sahakari Niyamitha, Kollegal vs. Income Tax Officer, Ward-1, Chamarajanagar

The Savanoor Primary Agriculture Credit Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward-1, Puttur

Assistant Commissioner of Income Tax, Tarabai Park, Kolhapur vs. Kolhapur Zilla Sahakari Dudh Utpadak Sangh Limited, Kolhapur

Yogiraj Nagari Sahkari Patsanstha Maryadit, Pune vs. ITO, Ward 2(2), Pune

Indapur Taluka Prathmik Shikshakanchi Sahakari Patasnatha Maryadit, Pune vs. Income Taxofficer, Ward 14(5), Pune

Dahisar Sanskruti Cooperative Housing Society Ltd., Mumbai vs. Centralized Processing Unit, Income Tax Department, Bangalore

Talegaon Nagari Sahakari Patsanstha Limited, Pune vs. Income Tax Officer Ward-9(3), Pune