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)

Chetak Co-Operative Housing Society Ltd, Mumbai Suburban vs. The Income Tax Officer, 23(1)(3), Mumbai

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

ITA 2934/MUM/2023[2013-14]Status: DisposedITAT Mumbai10 Nov 2023AY 2013-14

Bench: Shri Pavan Kumar Gadaleita No. 2934 & 2935/Mum/2023 (A.Y: 2013-14 & 2014-15) Chetak Co-Operative Vs. Ito – 23(1)(3) Housing Society Ltd,35 Mumbai-400020. Maju Mahal, Pali Hill, Bandra (West), Mumbai-400050. Pan/Gir No. : Aaaac0996J Appellant .. Respondent Appellant By : Shri. Anuj Kisnadwala & Shri Vinay Sinha.Ar Respondent By : Shri G.J. Ninawe. Sr. Dr Date Of Hearing 01.11.2023 Date Of Pronouncement 03.11.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: These Two Appeals Are Filed By The Assessee Against The Separate Orders Of The National Faceless Appeal Centre(Nfac)/Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act.

For Appellant: Shri. Anuj Kisnadwala, &For Respondent: Shri G.J. Ninawe. Sr. DR

Section 143(1)Section 143(2)Section 143(3)Section 234ASection 80Section 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 case…

Kedambady Keyyur Primary Agricultural Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward-1, Puttur

In the result, the additional grounds raised by the assessee are dismissed

ITA 668/BANG/2023[2018-19]Status: DisposedITAT Bangalore08 Nov 2023AY 2018-19

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Ms. Harsha J., A.R. Instructed by Shri SrihariFor Respondent: Shri Nischal B., D.R

Section 234ASection 250Section 80P(2)(a)Section 80P(2)(d)

…he case of Totgars Co- operative Sale Society Ltd. vs. ITO (supra) is distinguishable on facts. 6.5 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 ITA Nos.667 & 668/Bang/2023 Kedambady Keyyur Primary…

Kedambady Keyyur Primary Agricultural Co-Operative Society Limited, Puttur vs. Income-Tax Officer, Ward-1, Puttur

In the result, the additional grounds raised by the assessee are dismissed

ITA 667/BANG/2023[2017-18]Status: DisposedITAT Bangalore08 Nov 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Ms. Harsha J., A.R. Instructed by Shri SrihariFor Respondent: Shri Nischal B., D.R

Section 234ASection 250Section 80P(2)(a)Section 80P(2)(d)

…he case of Totgars Co- operative Sale Society Ltd. vs. ITO (supra) is distinguishable on facts. 6.5 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 ITA Nos.667 & 668/Bang/2023 Kedambady Keyyur Primary…

M/S. Vittal Vyavasaya Seva Sahakari Bank Niyamith, Vittal vs. Income-Tax Officer, Ward-2(5), Mangaluru

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

ITA 640/BANG/2023[2017-18]Status: DisposedITAT Bangalore08 Nov 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2017-18 M/S. Vittal Vyavasaya Seva Sahakari Bank Niyamith, The Income Tax Reg. No.; 2612/76- Officer, 77, Ward – 2(5), Puttur Road, Mangaluru. Vittal, Vs. Dakshina Kannada – 574 243. Pan: Aaaav4194K Appellant Respondent

For Appellant: Shri Rajagopalan, CA

Section 143(1)Section 234BSection 250Section 270ASection 80Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…-operative Page 7 bank/other co-operative societies against which interest/dividend was earned. 5.3 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 India…

Begpur Samabay Krishi Unnayan Samity Ltd., Bheruapara vs. ACIT, Cir-1, Burdwan.

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

ITA 873/KOL/2023[2016-17]Status: DisposedITAT Kolkata06 Nov 2023AY 2016-17

Bench: Sri Rajesh Kumar & Sonjoy Sarma

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

…6 I.T.A. No.: 873/KOL/2023 Assessment Year: 2016-17 Begpur Samabay Krishi Unnayan Samity Ltd. 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 India…

Kinjal Heaven Co Operative Society Limited, Mumbai vs. Income Tax Office, Ward-19(2)(2), Mumbai

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

ITA 2955/MUM/2023[2017-18]Status: DisposedITAT Mumbai01 Nov 2023AY 2017-18

Bench: Shri Pavan Kumar Gadaleita No. 2955, 2956, 2957 & 2958/Mum/2023 (A.Y: 2017-18, 2018-19, 2019-20 & 2020-21) Kinjal Heaven Vs. Ito,Ward19(2)(2), Cooperative Society Ltd, Piramal Chambers, 1St Wadia Street, 5Th Floor, Near Mumbai-400034. Bharatmata Theatre, Parel (East), Mumbai-400012. Pan/Gir No. : Aacak6843Q Appellant .. Respondent Appellant By : Shri.Rajesh Shah.Ar Respondent By : Shri.G.J.Ninawe. Sr. Dr Date Of Hearing 02.11.2023 Date Of Pronouncement 06.11.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: These Four Appeals Are Filed By The Assessee Against The Separate Orders Of The National Faceless Appeal Centre (Nfac)/Cit(A) Passed U/Sec 143(3) & U/Sec250 Of The Act For The A.Y 2017-18 & For The A.Y 2018-19, 2019-20 & 2020-21 Passed U/S 143(1) & U/Sec 250 Of The Act.

For Appellant: Shri.Rajesh Shah.ARFor Respondent: Shri.G.J.Ninawe. Sr. DR

Section 143(1)Section 143(2)Section 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 case…

Blue Rose Industrial Premises Co-Op Society Limited, Mumbai vs. CIT (A), National Faceless Appeal Centre, Delhi

In the result, appeal filed by the Assessee stands allowed in the aforesaid terms

ITA 2227/MUM/2023[2020-21]Status: DisposedITAT Mumbai31 Oct 2023AY 2020-21

Bench: Shri Narender Kumar Choudhryblue Rose Industrial Premises Cit(A), Co-Op. Society Limited Nfac, 43, Blue Rose Industrial Delhi-110 001 Premises Co-Op. Society Limited Vs. Wester Express Highway, Borivali (E), Mumbai-400 068

For Appellant: Shri Ajay Singh, Ld. ARFor Respondent: Ms. Smitha V. Nair, Ld. DR

Section 250Section 56Section 80PSection 80P(2)(d)

…8 Blue Rose Industrial Premises Co-op. Society Limited vs. CIT(A), NFCA 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 Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative 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…

SHI vs. Amruddhi Nagari Sahakari Patasanstha Maryadit, Mumbai

In the result, appeal filed by the Assessee stands allowed in the aforesaid terms

ITA 2225/MUM/2023[2020-21]Status: DisposedITAT Mumbai30 Oct 2023AY 2020-21

Bench: Shri N. K. Choudhry, Jm

For Appellant: Ms. Smitha V. Nair, Ld. DRFor Respondent: Date of Hearing

Section 2(24)(viia)Section 250Section 5Section 56Section 80PSection 80P(2)(a)Section 80P(4)

…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 Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative 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…

SHI vs. Amruddhi Nagari Sahakari Patasanstha Maryadit, Mumbai

In the result, appeal filed by the Assessee stands allowed in the aforesaid terms

ITA 2224/MUM/2023[2018-19]Status: DisposedITAT Mumbai30 Oct 2023AY 2018-19

Bench: Shri N. K. Choudhry, Jm

For Appellant: Ms. Smitha V. Nair, Ld. DRFor Respondent: Date of Hearing

Section 2(24)(viia)Section 250Section 5Section 56Section 80PSection 80P(2)(a)Section 80P(4)

…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 Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative 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…

SHI vs. Amruddhi Nagari Sahakari Patasanstha Maryadit, Mumbai

In the result, appeal filed by the Assessee stands allowed in the aforesaid terms

ITA 2223/MUM/2023[2017-18]Status: DisposedITAT Mumbai30 Oct 2023AY 2017-18

Bench: Shri N. K. Choudhry, Jm

For Appellant: Ms. Smitha V. Nair, Ld. DRFor Respondent: Date of Hearing

Section 2(24)(viia)Section 250Section 5Section 56Section 80PSection 80P(2)(a)Section 80P(4)

…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 Co-operative Sales Society [2017] 83 taxmann.com 140/395 ITR 611, wherein it was held that interest earned by the assessee, a Co-operative 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…

Kona Seema Co Operative Housing Society Limited, Mumbai vs. CPC, Bangalore, Mumbai

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

ITA 2025/MUM/2023[2020-2021]Status: DisposedITAT Mumbai16 Oct 2023AY 2020-2021

Bench: Shri Pavan Kumar Gadalekona Seemaco-Operative Vs. Cpc Housing Society Ltd. Bangalore. Plot No. 8, V.N Purav Marg, Near Diamond Garden, Chembur. Mumbai-400071. Pan/Gir No. : Aadak0665K Appellant .. Respondent

For Appellant: Shri Ashish A.Thakurdesai.ARFor Respondent: Shri G.J. Ninawe. Sr.DR

Section 143(1)Section 154Section 234ASection 80Section 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 case…

Pravara Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Mumbai vs. Principle Commissioner of Income Tax, Thane-1, Mumbai

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

ITA 1970/MUM/2023[2018-2019]Status: DisposedITAT Mumbai16 Oct 2023AY 2018-2019

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

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

…erative societies for this purpose. This has been held so by the Hon’ble Karnataka High Court and latest judgment of Hon’ble Kerala High Court. 10. Lastly, in so far as judgment of Hon’ble Karnataka High Court in the case of Totagars Cooperative Sale Society (395 ITR 611), which has been referred and relied upon by the Ld. CIT(A), the Hon’ble High Court has held against and observed that income by way of interest earned by deposit or investment of idle or surplus funds does not change its character irrespective of the fact whether such income of interest is earned from a schedule bank or cooperative bank. Therefo…

Vilas Sahakari Sakahar Karkahana Ltd, Latur vs. The Assistant Commissioner of Income Tax Nanded Circle, Nanded

Appeal is allowed in above terms

ITA 959/PUN/2023[2014-15]Status: DisposedITAT Pune13 Oct 2023AY 2014-15

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: Shri Pramod S ShingteFor Respondent: Shri M.G. Jasnani

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

…par with other banks would no 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 Vs. Totagars co-operative Sale Society (2017) 395 ITR 611 (Karn), 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. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon’ble High Court of Gujarat in t…

The Athani Credit Co-Operative Society Limited, Athani vs. Income Tax Officer, Ward - 1, Belagavi

Appeal is partly allowed in above terms

ITA 90/PAN/2023[2017-18]Status: DisposedITAT Panaji12 Oct 2023AY 2017-18

Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote

For Appellant: Shri Chetan ChauguleFor Respondent: Shri N. Shrikanth

Section 143(3)Section 68Section 80PSection 80P(2)(a)Section 80P(2)(d)

…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 ld. 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 7 ITA.No.90/PAN./2023 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; accept…

The Metropolitan Co-Operative Housing Society Ltd, Bangalore vs. Income-Tax Officer, Ward-1(2)(1), Bangalore

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

ITA 628/BANG/2023[2017-18]Status: DisposedITAT Bangalore03 Oct 2023AY 2017-18

Bench: Shri George George Kassessment Year : 2017-18 M/S. The Metropolitan Co-Operative Housing Vs. Ito, Society Ltd., Ward – 1(2)(1), No.21, Grund Floor, Vidhana Soudha, Bengaluru. Vidhana Veedi, Bengaluru – 560 001. Pan : Aaaat 0990 P Appellant Respondent Assessee By : Shri. Sandeep Chalapthy, Ca Revenue By : Shri. Ganesh R Ghale, Advocate, Standing Counsel For Revenue. Date Of Hearing : 03.10.2023 Date Of Pronouncement : 03.10.2023

For Appellant: Shri. Sandeep Chalapthy, CAFor Respondent: Shri. Ganesh R Ghale, Advocate, Standing Counsel for Revenue

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

…the assessee earned interest income from investments with Canara Bank and Apex Co-operative Bank. In holding so, the AO relied on the judgment of the jurisdictional High Court in the case of PCIT Vs. Totgars Co-perative Sale Society Ltd., Vs. ITO reported in 395 ITR 611 (Karn.). 4. Aggrieved by the order of the assessment, assessee filed appeal before the First Appellate Authority. The CIT(A), vide the impugned order, dismissed the appeal of the assessee and confirmed the view taken by the AO. The CIT(A) held that interest income from deposits kept with scheduled banks and co-operative banks are to be taxed und…

M/S. Canara Bank Staff Credit Co-Operative Society Limited, Bangalore vs. Income-Tax Officer, Ward-7(2)(2), Bangalore

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

ITA 517/BANG/2023[2017-18]Status: DisposedITAT Bangalore03 Oct 2023AY 2017-18

Bench: Shri George George Kassessment Year : 2017-18 M/S. Canara Bank Staff Credit Co-Operative Vs. Ito, Society Ltd., Ward – 7(2)(2), No.26, 8Th Main Road, Bengaluru. 6Th Cross, Sampangiramanagar, Bengaluru – 560 027. Pan : Aaaac 0152 A Appellant Respondent Assessee By : Shri. Suresh Muthukrishna A, Ca Revenue By : Shri. Ganesh R Ghale, Advocate, Standing Counsel For Revenue. Date Of Hearing : 03.10.2023 Date Of Pronouncement : 03.10.2023

For Appellant: Shri. Suresh Muthukrishna A, CAFor Respondent: Shri. Ganesh R Ghale, Advocate, Standing Counsel for Revenue

Section 143(2)Section 143(3)Section 234BSection 250Section 57(2)Section 80(2)(d)Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…he held that assessee is not entitled to deduction under section 80P(2)(a)(i) of the Act to the extent of Rs.17,15,345/-. The AO relied on the judgment of Hon’ble jurisdictional High Court in the case of PCIT Vs. Totgars Co-operative Sales Society reported in 395 ITR 611 (Karn.). 4. Aggrieved by the Assessment Order, the assessee society filed appeal before the First Appellate Authority. The CIT(A) partly allowed the appeal of the Page 3 of 6 assessee by allowing the claim of deduction under section 80P(2) of the Act amounting to Rs.2,09,329/- [refer para 7.15 of the impugned order of CIT(A)]. However, the CIT(…

Alsid Co-Operative Housing Society Ltd, Mumbai vs. DCIT/ACIT, CPC, Bangalore

In the result, the appeal of the assessee is allowed

ITA 1204/MUM/2023[2020-2021]Status: DisposedITAT Mumbai29 Sept 2023AY 2020-2021

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Bhupendra ShahFor Respondent: Ms Indira Adakil

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

…par with other banks would no 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 Vs. Totagars co-operative Sale Society (2017) 395 ITR 611 (Karn), 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. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon’ble High Court of Gujarat in t…

The Income Tax Officer, Ward-2, Ahmednagar vs. Krushi Vidnyan Pradhyapak Sahakari Pat Sanstha Maryadit, Ahmednagar

Appeal is dismissed in above terms

ITA 701/PUN/2023[2020-21]Status: DisposedITAT Pune28 Sept 2023AY 2020-21

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: CA Devendra A. PatilFor Respondent: Shri Ramnath P Murkunde

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

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A” : PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA No.701/PUN./2023 Assessment Year 2020-21 The Income Tax Officer, Krushi Vidnyan Ward-2, Aayakar Bhavan, Pradhyapak Sahakari Pat Behind Natraj Hotel, Sanstha Maryadit, Aurangabad Road, vs. Mahatma Phule Krushi – Ahmednagar – 414 001. Vidyapith, Nagar Manmad Maharashtra Road, Rahuri, PAN AAAAK4147K Ahmednagar – 413 705. Maharashtra. Appellant Respondent For Assessee : CA Devendra A. Patil For Revenue : Shri Ramnath P Murkunde Date of Hearing : 29.08.2023 D…

Om Shri Yashodhan Co-Op Hsg., Soc., Mumbai vs. ITO Ward 41(4)(3), Mumbai

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

ITA 1236/MUM/2023[2020-21]Status: DisposedITAT Mumbai27 Sept 2023AY 2020-21

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm Om Shri Yashodhan Co-Op Hsg Soc Ito-Ward-41(4)(3) Road No 5 Ay Prakash Nagar Mumbai Vs. Goregaon (E) Mumbai-400 063

For Appellant: Shri Viay JoshiFor Respondent: Ms. Indira Adakil

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

…r Sec. 80P(2)(d) on the interest income on the investments/deposits parked with a co-operative bank. Although, in all fairness, we may herein observe that the Hon'ble High Court of Karnataka in the case of Pr. CIT Vs. Totagars co-operative 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 case…

Maharashtra Rajya Pathyapustak Mandal Karmachari Sahakari Pat Sanstha Maryadit, Pune vs. The Principal Commissioner of Income Tax -2, Pune

The appeal of the assessee stands ALLOWED

ITA 733/PUN/2023[2017-18]Status: DisposedITAT Pune26 Sept 2023AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 733/Pun/2023 निर्धारण वषा / Assessment Year : 2017-18 Maharashtra Rajya Pathyapustak Mandal Karmachari Sahakari Pat Sanstha Maryadit, Bal Bharati, Senapati Bapat Rd., Pune – 411 004 Pan: Aaaam2009A . . . . . . . अपऩलधर्थी / Appellant बिधम / V/S Pr. Commissioner Of Income Tax -2 Pune . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mrs. J.R. Chandekar Revenue By : Shri Keyur Patel सुनवाई की तारीख / Date Of Conclusive Hearing : 25/09/2023 घोषणा की तारीख / Date Of Pronouncement : 26/09/2023 आदेश / Order Per G. D. Padmahshali, Am; This Appeal Of The Assessee For Assessment Year 2017-18 [For Short ‘Ay’] Is Assailed Against Revisionary Order Of Pr. Commissioner Of Income Tax-2, [For Short ‘Pcit’] Dt. 21/03/2022 Passed U/S 263 Of The Income-Tax Act, 1961 [For Short ‘The Act’], Which Ascended Out Of Assessment Order Dt. 24/12/2019 Passed U/S 143(3) By The Income Tax Officer, Ward 3(5), Pune [For Short ‘Ao’].

For Appellant: Mrs. J.R. ChandekarFor Respondent: Shri Keyur Patel

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

…s that interest & dividend on investment was earned from Pune District Central Co-op. Bank [for short ‘PDCC’] being a bank and ineligible owing to law laid down by Hon’ble High court of Karnataka in the case of ‘PCIT Vs Totgar Co-op. Sale Society’ reported in 395 ITR 611. Thus the Ld. PCIT set-aside the order of assessment on this score with a direction to decide the issue of a fresh and decide the deduction u/s 80P(2)(d) of the Act. 2.3 Aggrieved assessee came in present appeal assailing the impugned revisionary on following grounds raised in its appeal memo: “1. On the facts and in the circumstances of the cas…

Pr. CIT v. Totagars

What is Pr. CIT v. Totagars authority for?

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Judgments citing Pr. CIT v. Totagars

Chetak Co-Operative Housing Society Ltd, Mumbai Suburban vs. The Income Tax Officer, 23(1)(3), Mumbai

Kedambady Keyyur Primary Agricultural Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward-1, Puttur

Kedambady Keyyur Primary Agricultural Co-Operative Society Limited, Puttur vs. Income-Tax Officer, Ward-1, Puttur

M/S. Vittal Vyavasaya Seva Sahakari Bank Niyamith, Vittal vs. Income-Tax Officer, Ward-2(5), Mangaluru

Begpur Samabay Krishi Unnayan Samity Ltd., Bheruapara vs. ACIT, Cir-1, Burdwan.

Kinjal Heaven Co Operative Society Limited, Mumbai vs. Income Tax Office, Ward-19(2)(2), Mumbai

Blue Rose Industrial Premises Co-Op Society Limited, Mumbai vs. CIT (A), National Faceless Appeal Centre, Delhi

SHI vs. Amruddhi Nagari Sahakari Patasanstha Maryadit, Mumbai

SHI vs. Amruddhi Nagari Sahakari Patasanstha Maryadit, Mumbai

SHI vs. Amruddhi Nagari Sahakari Patasanstha Maryadit, Mumbai

Kona Seema Co Operative Housing Society Limited, Mumbai vs. CPC, Bangalore, Mumbai

Pravara Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Mumbai vs. Principle Commissioner of Income Tax, Thane-1, Mumbai

Vilas Sahakari Sakahar Karkahana Ltd, Latur vs. The Assistant Commissioner of Income Tax Nanded Circle, Nanded

The Athani Credit Co-Operative Society Limited, Athani vs. Income Tax Officer, Ward - 1, Belagavi

The Metropolitan Co-Operative Housing Society Ltd, Bangalore vs. Income-Tax Officer, Ward-1(2)(1), Bangalore

M/S. Canara Bank Staff Credit Co-Operative Society Limited, Bangalore vs. Income-Tax Officer, Ward-7(2)(2), Bangalore

Alsid Co-Operative Housing Society Ltd, Mumbai vs. DCIT/ACIT, CPC, Bangalore

The Income Tax Officer, Ward-2, Ahmednagar vs. Krushi Vidnyan Pradhyapak Sahakari Pat Sanstha Maryadit, Ahmednagar

Om Shri Yashodhan Co-Op Hsg., Soc., Mumbai vs. ITO Ward 41(4)(3), Mumbai

Maharashtra Rajya Pathyapustak Mandal Karmachari Sahakari Pat Sanstha Maryadit, Pune vs. The Principal Commissioner of Income Tax -2, Pune