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)

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

ITA 3769/MUM/2023[2017-18]Status: DisposedITAT Mumbai22 May 2024AY 2017-18

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

For Appellant: Shri Ketan L. VajaniFor Respondent: Dr. Kishor Dhule

Section 143Section 143(1)Section 143(3)Section 80P(2)(d)

…wing deduction u/s.80P(2)(d) of the Income Tax Act 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 Cooperative Sales Society(395 ITR 611) has specifically decided the Question of Law about the allowability of interest earned from deposits with Cooperative Bank u/s. 80P(2)(d) of the Income Tax Act in favour of the Revenue. 3. Whether on the facts and circumstances of the case and in law, the Ld.CIT(A) was correct in dismissed the disallowance of a sum of Rs. 2,04,65,049 /- and inte…

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

ITA 3766/MUM/2023[2020-21]Status: DisposedITAT Mumbai22 May 2024AY 2020-21

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

For Appellant: Shri Ketan L. VajaniFor Respondent: Dr. Kishor Dhule

Section 143Section 143(1)Section 143(3)Section 80P(2)(d)

…wing deduction u/s.80P(2)(d) of the Income Tax Act 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 Cooperative Sales Society(395 ITR 611) has specifically decided the Question of Law about the allowability of interest earned from deposits with Cooperative Bank u/s. 80P(2)(d) of the Income Tax Act in favour of the Revenue. 3. Whether on the facts and circumstances of the case and in law, the Ld.CIT(A) was correct in dismissed the disallowance of a sum of Rs. 2,04,65,049 /- and inte…

Income Tax Officer, Ward 1, Udupi vs. Brahmavara Vyavasaya Seva, Brahmavara

ITA 668/BANG/2024[2020-21]Status: DisposedITAT Bangalore16 May 2024AY 2020-21

Bench: Shri George George K & Shri Waseem Ahmed

For Appellant: Ms. Akshaya K. S, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru

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

…s? 4. The CIT(A) has erred in not considering the fact that the interest income received from the co-op. banks has to be disallowed in view of the binding decisions of the Karnataka High Court in the case of M/s. Totagars Co-operative Sale Society reported in 395 ITR 611 and the Hon'ble Apex Court in 322 ITR 283. The Hon'ble Karnataka High Court in the case of M/s Totagars Co-operative Sale Society (supra) categorically held that the income by way of interest earned by the deposit of idle or surplus funds does not change its character irrespective of the fact whether such income of interest is earned from a sched…

Incometax Officer, Ward 1, Udupi vs. Brahmavara Vyavasaya Seva, Brahmavara

ITA 667/BANG/2024[2018-19]Status: DisposedITAT Bangalore16 May 2024AY 2018-19

Bench: Shri George George K & Shri Waseem Ahmed

For Appellant: Ms. Akshaya K. S, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bengaluru

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

…s? 4. The CIT(A) has erred in not considering the fact that the interest income received from the co-op. banks has to be disallowed in view of the binding decisions of the Karnataka High Court in the case of M/s. Totagars Co-operative Sale Society reported in 395 ITR 611 and the Hon'ble Apex Court in 322 ITR 283. The Hon'ble Karnataka High Court in the case of M/s Totagars Co-operative Sale Society (supra) categorically held that the income by way of interest earned by the deposit of idle or surplus funds does not change its character irrespective of the fact whether such income of interest is earned from a sched…

Income-Tax Officer, Ward-1, Udupi vs. Brahmavara Vyavayasaya Seva, Brahmavara

ITA 656/BANG/2024[2017-18]Status: DisposedITAT Bangalore16 May 2024AY 2017-18

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

…s? 4. The CIT(A) has erred in not considering the fact that the interest income received from the co-op. banks has to be disallowed in view of the binding decisions of the Karnataka High Court in the case of M/s. Totagars Co-operative Sale Society reported in 395 ITR 611 and the Hon'ble Apex Court in 322 ITR 283. The Hon'ble Karnataka High Court in the case of M/s Totagars Co-operative Sale Society (supra) categorically held that the income by way of interest earned by the deposit of idle or surplus funds does not change its character irrespective of the fact whether such income of interest is earned from a sched…

Aurum Grande Co-Operative Housing Society Limited, Kanjurmarg - Mumbai vs. Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre (NFAC)

In the result the appeal filed by the assessee stands allowed

ITA 4412/MUM/2023[2020-2021]Status: DisposedITAT Mumbai16 May 2024AY 2020-2021

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriaurum Grande Co- Vs. Income-Tax Department, Operative Housing National Faceless Appeal, Society Ltd. Centre, Delhi Cts No. 1293, 1- 5,/30/7&675 Village Kuanjur Road, Kanjurmrg East Mumbai-400042 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No:Aafaa2092L Appellant .. Respondent

For Appellant: Mr. Sukhsagar SyalFor Respondent: Shri Himanshu Kumar

Section 143(3)Section 153(1)Section 234ASection 250Section 80P(2)(d)

…ociety when the assessee is a cooperative housing society. 5) On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in relying upon the decision of the Hon'ble Karnataka High Court in Pr. CIT v/s Totagars Cooperative Sale Society (395 ITR 611) to confirm the denial of deduction by the Ld. Assessing Officer u/s 80P(2)(d) of the Act, when the said decision is inapplicable to the facts of the present case. 6) On the facts and in the circumstances of the case and in law, the assessee having filed its return of income within the time limit prescribed, the levy of interest u/s. 234A of the…

Kundalika Nagari Sahakari Pathsanstha Maryadit, Roha vs. Income Tax Officer, Ward-1, Panvel

Appeal is allowed in above terms

ITA 288/PUN/2024[2016-17]Status: DisposedITAT Pune15 May 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Inturi Rama Rao

For Appellant: CA Ajinkya M VaishampayanFor Respondent: Shri Ramnath P Murkunde

Section 143(3)Section 147Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE [THROUGH HYBRID HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER I.T.A.No.288/PUN./2024 Assessment Year 2016-2017 Kundalika Nagari Sahakari Patsanstha The Income Tax Officer, Maryadit, Ground Floor, Ward-1, Aayakar Bhavan, Varun Apartment, Near Plot No.2/2A, Sector-17, vs. Bhate Vachanalaya, Opposte Khanda Colony, Sonar Ali, ROHA-402 109. New Panvel – 410 206. Maharashtra. Maharashtra. PAN AACAK6478R (Appellant) (Respondent) For Assessee : CA Ajinkya M Vaishampayan For Revenue : Shri Ramnath P Mur…

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

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

ITA 4695/MUM/2023[2014-15]Status: DisposedITAT Mumbai15 May 2024AY 2014-15

Bench: Shir Pavan Kumar Gadale & Shri Girish Agrawalusha Janakalyan Nagar Vs. Ito-30(1)(1), Chs Ltd, Kautilya Bhavan, 211, Bkc, Bandra (E), Kharodi,Marveroad, Mumbai-400051. Malad (W), Mumbai-400095. Pan/Gir No. : Aaaau1039J Appellant .. Respondent Appellant By : Shri. Kunal Lunawat.Ar Respondent By : Ms. Rajeswari Menon, Sr.Dr Date Of Hearing 15.05.2024 Date Of Pronouncement 16.05.2024 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Appeal Is Filed By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi/Cit (A) Passed U/Sec 154 & U/Sec 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri. Kunal Lunawat.ARFor Respondent: Ms. Rajeswari Menon, Sr.DR

Section 143Section 143(1)Section 154Section 250Section 80Section 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 co- operative society would not be entitled to claim of deduction under Sec. 80P(2) (d). At the same time, we find, that the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon'ble High Court of Gujarat in the cas…

Ganesh Vyapari Gramin Bigarsheti Sahakari Patsanstha Maryadit, Sangli vs. Income Tax Officer, Ward-2, Sangli

Appeal is allowed in above terms

ITA 643/PUN/2024[2018-19]Status: DisposedITAT Pune14 May 2024AY 2018-19

Bench: Shri Satbeer Singh Godara

For Appellant: Shri S.N. PuranikFor Respondent: Shri Kalpesh Kumar Rupavatiya

Section 143(3)Section 263Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “SMC” BENCH : PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.643/PUN./2024 Assessment Year 2018-2019 Ganesh Vyapari Gramin Bigarsheti Sahakari The Income Tax Officer, Patsanstha Maryadit, Ward-2, Aayakar Bhawan, Mangalwar Peth, A/P- Bhinge Bldg., Miraj Road, vs. Jath, Tal-Jath, Dist. Opp. Z.P. SANGLI – 416 416. Maharashtra. Sangli. PIN – 416 404. PAN AAAAG1138N (Appellant) (Respondent) For Assessee : Shri S.N. Puranik For Revenue : Shri Kalpesh Kumar Rupavatiya Date of Hearing : 10.05.2024 Date of Pronouncement : 14.05.2024 ORDER This assessee’s appe…

Income Tax Officer, Ward 1(1), Nashik vs. Swa Ashokrao Bankar Nagari Sahakari Patsanstha Maryadit, Nashik

In the result, the appeal is dismissed

ITA 58/PUN/2024[2020-21]Status: DisposedITAT Pune14 May 2024AY 2020-21

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2020-21

For Appellant: Shri Pramod S ShingteFor Respondent: Shri Sourabh Nayak, Addl.CIT

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

…in favour of the 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…

Balaji Shrushti Chs Ltd, Panvel vs. ITO, Ward - 1, Panvel

In the result, the appeal filed by the assessee in ITA

ITA 524/PUN/2024[2021-22]Status: DisposedITAT Pune14 May 2024AY 2021-22

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.523 & 524/Pun/2024 िनधा"रण वष" / Assessment Years : 2020-21 & 2021-22 Balaji Shrushti Chs Ltd., Vs. Ito, Ward-1, Panvel. Ground Floor, Plot No.3, Sector 19, New Panvel Navi Mumbai- 410206. Pan : Aaaab8345G Appellant Respondent Assessee By : None Revenue By : Shri Manoj Tripathi Date Of Hearing : 29.04.2024 Date Of Pronouncement : 14.05.2024 आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Assessee Are Directed Against The Common Order Dated 19.02.2024 Passed By Ld Cit(A) Addl/Jcit (A), Prayagraj For The Assessment Years 2020-21 & 2021-22 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Assessee In Ita No.523/Pun/2024 For The Assessment Year 2020-21 Are Stated Herein.

For Appellant: NoneFor Respondent: Shri Manoj Tripathi

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.523 & 524/PUN/2024 िनधा"रण वष" / Assessment Years : 2020-21 & 2021-22 Balaji Shrushti CHS Ltd., Vs. ITO, Ward-1, Panvel. Ground Floor, Plot No.3, Sector 19, New Panvel Navi Mumbai- 410206. PAN : AAAAB8345G Appellant Respondent Assessee by : None Revenue by : Shri Manoj Tripathi Date of hearing : 29.04.2024 Date of pronouncement : 14.05.2024 आदेश / ORDER PER VINAY BHAMORE, JM: Both the above captioned appeals filed by the assessee are directed a…

Balaji Shrushti Chs Ltd, New Panvel vs. ITO, Ward - 1, Panvel

In the result, the appeal filed by the assessee in ITA

ITA 523/PUN/2024[2020-21]Status: DisposedITAT Pune14 May 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.523 & 524/Pun/2024 िनधा"रण वष" / Assessment Years : 2020-21 & 2021-22 Balaji Shrushti Chs Ltd., Vs. Ito, Ward-1, Panvel. Ground Floor, Plot No.3, Sector 19, New Panvel Navi Mumbai- 410206. Pan : Aaaab8345G Appellant Respondent Assessee By : None Revenue By : Shri Manoj Tripathi Date Of Hearing : 29.04.2024 Date Of Pronouncement : 14.05.2024 आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Assessee Are Directed Against The Common Order Dated 19.02.2024 Passed By Ld Cit(A) Addl/Jcit (A), Prayagraj For The Assessment Years 2020-21 & 2021-22 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Assessee In Ita No.523/Pun/2024 For The Assessment Year 2020-21 Are Stated Herein.

For Appellant: NoneFor Respondent: Shri Manoj Tripathi

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.523 & 524/PUN/2024 िनधा"रण वष" / Assessment Years : 2020-21 & 2021-22 Balaji Shrushti CHS Ltd., Vs. ITO, Ward-1, Panvel. Ground Floor, Plot No.3, Sector 19, New Panvel Navi Mumbai- 410206. PAN : AAAAB8345G Appellant Respondent Assessee by : None Revenue by : Shri Manoj Tripathi Date of hearing : 29.04.2024 Date of pronouncement : 14.05.2024 आदेश / ORDER PER VINAY BHAMORE, JM: Both the above captioned appeals filed by the assessee are directed a…

Mudur Vyavasaya Seva Sahakari Sangha Ltd., Udupi vs. Income Tax Officer, Ward-1 & Tps, Udupi

ITA 299/BANG/2024[2020-21]Status: DisposedITAT Bangalore14 May 2024AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2020-21

For Appellant: Shri Mahesh R. Uppin, AdvocateFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

Section 143(1)Section 18Section 2(24)(viia)Section 56Section 80GSection 80PSection 80P(2)(a)Section 8P(2)(d)

…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- Page 8 of 16 operative Sales Society Ltd. reported in (2017) 395 ITR 611 (Karnataka) dated 16.06.2017. 6.1 The ld. DR also submitted that the assessee has violated the principle of mutuality and 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 observed by the lower authorities u/s 8…

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

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

ITA 226/BANG/2024[2020-21]Status: DisposedITAT Bangalore14 May 2024AY 2020-21

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Gireesha T.L, C.AFor Respondent: Shri Muthu Shankar, Addl. CIT (DR)

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

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

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

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

ITA 225/BANG/2024[2018-19]Status: DisposedITAT Bangalore14 May 2024AY 2018-19

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Gireesha T.L, C.AFor Respondent: Shri Muthu Shankar, Addl. CIT (DR)

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

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

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(2), Bangalore

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

ITA 224/BANG/2024[2017-18]Status: DisposedITAT Bangalore14 May 2024AY 2017-18

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Gireesha T.L, C.AFor Respondent: Shri Muthu Shankar, Addl. CIT (DR)

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

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

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

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

ITA 223/BANG/2024[2016-17]Status: DisposedITAT Bangalore14 May 2024AY 2016-17

Bench: Smt. Beena Pillai & Shri Waseem Ahmed

For Appellant: Shri Gireesha T.L, C.AFor Respondent: Shri Muthu Shankar, Addl. CIT (DR)

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

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

Income Tax Officer, Mumbai vs. Larsen Toubro Kamgar Sahakari Patpedni Marydit, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 4446/MUM/2023[2018-19]Status: DisposedITAT Mumbai14 May 2024AY 2018-19

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 143(3)Section 809(2)(d)Section 80PSection 80P(2)(d)

…Lending/depositing money is not the business of the assessee. 2. Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT failed to appreciate that the questions of law in the case of pr.cit vs Totagars co-operative sale society (2017) 395 ITR 611 (karn) and pr.cit vs Totagars co-operative sale society (2017) 392 ITR 74 (Karn) are entirely different? 3. Whether on the facts and circumstances of the case in law, the Hon’ble ITAT erred in relying on k. Subramanian vs Siemens India Ltd. (1985) 156 ITR 11 (Bombay), without appreciating that there is no inherent conflict between the judgements…

Vithal Court Apartments Chs Ltd, Mumbai vs. Assistant Director Income Tax, CPC, Bangaluru, Mumbai

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

ITA 4279/MUM/2023[2021-22]Status: DisposedITAT Mumbai14 May 2024AY 2021-22

Bench: Shri B.R. Baskaranassessment Year 2021-22 Vithal Court Apartments Chs Ltd. 151, August Kranti Marg, Kemps Corner, Mumbai – 400 036 Pan:Aaaav-3708-M - Appellant Vs. Adit, Cpc,Bangaluru Bangaluru. - Respondent Assessee By : Shri Sameer G. Dalal Revenue By : Shri Suni Mathew, Sr.Dr Date Of Hearing : 02/05/2024 Date Of Pronouncement : 14/05/2024 O R D E R

For Appellant: Shri Sameer G. DalalFor Respondent: Shri Suni Mathew, Sr.DR

Section 80PSection 80P(2)(d)

…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. 5 Assessment Year 2021-22 Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict bet…

M/S. Neeladri Pattina Souharda Sahakari Sangha Niyamita Manvi, Raichur vs. Income Tax Officer, Ward-1, Raichur

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

ITA 477/BANG/2024[2020-21]Status: DisposedITAT Bangalore13 May 2024AY 2020-21

Bench: Smt. Beena Pillai & Shri Waseem Ahmedassessment Year : 2020-21

For Appellant: Smt. Sunaiana Bhatia, AdvocateFor Respondent: Shri Ganesh R Gale, Standing Counsel for Department (DR)

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

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

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

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

ITO-26(2)(1), Mumbai vs. Sangli Vaibhav Co Operative Credit Society Limited, Mumbai

Income Tax Officer, Ward 1, Udupi vs. Brahmavara Vyavasaya Seva, Brahmavara

Incometax Officer, Ward 1, Udupi vs. Brahmavara Vyavasaya Seva, Brahmavara

Income-Tax Officer, Ward-1, Udupi vs. Brahmavara Vyavayasaya Seva, Brahmavara

Aurum Grande Co-Operative Housing Society Limited, Kanjurmarg - Mumbai vs. Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre (NFAC)

Kundalika Nagari Sahakari Pathsanstha Maryadit, Roha vs. Income Tax Officer, Ward-1, Panvel

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

Ganesh Vyapari Gramin Bigarsheti Sahakari Patsanstha Maryadit, Sangli vs. Income Tax Officer, Ward-2, Sangli

Income Tax Officer, Ward 1(1), Nashik vs. Swa Ashokrao Bankar Nagari Sahakari Patsanstha Maryadit, Nashik

Balaji Shrushti Chs Ltd, Panvel vs. ITO, Ward - 1, Panvel

Balaji Shrushti Chs Ltd, New Panvel vs. ITO, Ward - 1, Panvel

Mudur Vyavasaya Seva Sahakari Sangha Ltd., Udupi vs. Income Tax Officer, Ward-1 & Tps, Udupi

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(2), Bangalore

Nagapura Credit Co Operative Society, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

Income Tax Officer, Mumbai vs. Larsen Toubro Kamgar Sahakari Patpedni Marydit, Mumbai

Vithal Court Apartments Chs Ltd, Mumbai vs. Assistant Director Income Tax, CPC, Bangaluru, Mumbai

M/S. Neeladri Pattina Souharda Sahakari Sangha Niyamita Manvi, Raichur vs. Income Tax Officer, Ward-1, Raichur