Pr. CIT v. Totagars

Amore Commercial Premises Co-Op Soc. Ltd, Mumbai vs. Central Processing Centre, Bengaluru

Bench: Shri Kuldip Singh & S Rifaur Rahmanassessment Year: 2020-21 & Assessment Year: 2020-21 Amore Commercial Central Processing Centre, Premises Co-Op Society Bangalore, Karnataka- Ltd. 560500 701, 7Th Floor, Junction Of Vs. 2Nd & 4Th Road, Khar West Mumbai Maharashtra-400052 Pan- Aabaa0724F (Appellant) (Respondent) Present For: Assessee By : Shri. Sashi Bekal Revenue By : Shri. Ashish Kumar Deharia Date Of Hearing : 03 . 01 . 2023 Date Of Pronouncement :17 . 01 . 2023 O R D E R Per : Kuldip Singh:

…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 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…

Sindhudurg Nagri Sahakari Pathpedhi Ltd, Mumbai vs. ACIT, Circle-2, Kalyan, Mumbai

Bench: Shri Kuldip Singhs Rifaur Rahmanassessment Year: 2017-18 Sindhudurg Nagri Sahakari Acit Circle-2, Kalyan. 2Nd Pathpedhi Ltd. Mumbai, Acit Circle-2, “A” Wing, First Floor, Floor, Mohan Plaza, Shivneri Co-Op Soc. Wayale Nagar, Khadak Vs. Vardhaman Nagar, Shivaji Pada, Kalyan(W,) Mumbai Nagar Road, Ambernath, Maharashtra 521301 Kalyan. Maharashtra 421501 Pan Aaaas0887Q (Appellant) (Respondent) Present For: Assessee By : Shri. Subodh Ratnaparkhi Revenue By : Shri. Ashish Kumar Deharia Date Of Hearing : 02 . 01 . 2023 Date Of Pronouncement : 17 . 01 . 2023 O R D E R Per : Kuldip Singh: 1. Appellant, Sindhudurg Nagri Sahakari Pathpedhi Ltd.(„Here In After, Referred To As The Assessee‟) By Filing Aforesaid Appeal Sought To Set Aside The Impugned Order Dated 28.09.2022 Passed By National Faceless Appeal Centre(Nfac), For Short The Ld.Cit(A) On The Grounds Alia That:-

…n 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 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…

Regency Premises Co-Op Society Limited, Mumbai vs. Ward 23(1)(1), Mumbai

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri M. Balaganesh, Am आयकर अपील सं/ I.T.A. No.2547/Mum/2022 (निर्धारण वर्ा / Assessment Year: 2020-21) Regency Premises Co-Op बिधम/ Dcit/Acit, Cpc Hsg. Society Ltd. Kautilya Bhavan, Vs. Regency Chambers Near Mumbai-400051. Nandi Cinema National Library Road Bandra West, Mumbai-400050. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabar7613N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Bhupendra Shah Revenue By: Shri Vaibhav Jain सुनवाई की तारीख / Date Of Hearing: 13/12/2022 घोषणा की तारीख /Date Of Pronouncement: 17/01/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Co-Operative Housing Society Ltd. Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi Dated 26.08.2022 For Assessment Year 2020-21 Wherein The Assessee Has Challenged The Action Of The Ld. Cit(A) Confirming The Ao’S Decision In Not Granting Deduction U/S 80P(2)(D) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Of An Amount Of Rs.3,34,570/- Which The Assessee Has Earned As Interest On Fixed Deposit In A Co-Operative Bank.

…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…

Vaibhavnagar Co-Op Credit Soc Limited, Mumbai vs. Income Tax Officer, 27(3)(5), Mumbai

In the result, the three appeals filed by the assessee are allowed

Bench: Shri Pavan Kumar Gadaleita Nos. 2694, 2696 & 2697/Mum/2022 (A.Ys: 2014-15, 2016-17 & 2017-18) Vaibhavnagar Co Op Vs. Ito – 27(3)(5) Credit Soc Ltd., Room No. 428, 4Th Ground Floor, Vaibhav Floor, 6Th Tower, Vashi Nagar Vaman Tukaram Rly Station Complex, Patil Marg, Gowandi Navi Mumbai – 400703 Mumbai – 400088 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaav5519Q Appellant .. Respondent Assessee By : Mr.Ramesh S Iyer.Ar Revenue By : Ms.Richa Gulati.Dr Date Of Hearing 21.12.2022 Date Of Pronouncement 22.12.2022 आदेश / O R D E R

…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…