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 80PSection 250Section 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

Manmandir Nagari Sahakari Pathasanstha Maryadit, Sangli vs. Principal Commissioner of Income-Tax -1, Pune

In the result, all the appeals are allowed

ITA 368/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Hanumantrao Choudhari Kalbhairavnath Nagari Sahakari Patsanstha Maryadit, Kunjirwadi, Pune vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 367/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Castlemaine Premises Co-Op Society Ltd, Pune vs. The Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 358/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Hinglajmata Nagri Sahakari Patsanstha Maryadit, Solapur vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 356/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Hindalco Employees Co-Op Credit Society Ltd., Taloja vs. Principal Commissioner of Income-Tax -1, Thane

In the result, all the appeals are allowed

ITA 353/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Kundalika Nagari Sahakari Patsanstha Marydadit, Roha vs. Principal Commissioner of Income-Tax -1, Thane

In the result, all the appeals are allowed

ITA 352/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Kesha vs. Mruti Nagari Sahakari Pat. Ltd, Panvel

In the result, all the appeals are allowed

ITA 351/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Chhatrapati Sambhaji Maharaj Shakari Pat Sanstha Maryadit, Satara vs. Principal Commissioner of Income Tax, -3, Pune

In the result, all the appeals are allowed

ITA 349/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Baramati Taluka Sahakari Phalutpadan Sangh, Pune vs. Principal Commissioner of Income-Tax- 4, Pune

In the result, all the appeals are allowed

ITA 332/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Shri Bruhanmath Hotagi Shaikswhanik Sanstha Karmchari Sahkari Patpedi Marya, Solapur vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 330/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Dhanashree Mahila Gramin Bigarsheti Sah. Patsanstha Maryadit, Solapur vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 325/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Chairman Mahatma Phule Nagari Sahakari Patsanstha, Solapur vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 308/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Pragati Gramin Bigarsheti Sahakari Patsanstha Maryadit, Pune vs. Principal Commissioner of Income-Tax -4, Pune

In the result, all the appeals are allowed

ITA 303/PUN/2022[2017-18]Status: DisposedITAT Pune20 Dec 2022AY 2017-18

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 263Section 80P

…edit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. 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 members…

Jai Malhar Cooperative Credit Society Ltd, Mumbai vs. Assessing Officer 29(1)(5), Mumbai

In the result, appeal is allowed

ITA 1797/MUM/2022[2018-19]Status: DisposedITAT Mumbai20 Dec 2022AY 2018-19
For Appellant: NoneFor Respondent: Shri Nishant Somaiya
Section 142(1)Section 143Section 143(3)Section 80Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL "F" BENCH, MUMBAI SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Jai Malhar Co-Op Credit Society, 1/B, Devi Dayal Sadan, Tulshi Nagar, Kanjur Marg (East)- 400042 [PAN: AAAAJ8539L] ……………… Appellant Assessing Officer 29(1)(5), Vs Kautilya Bhavan, BKC, Bandra (East)- 400050 ……………. Respondent Appearances For the Appellant/Assessee : None For the Respondent/Department : Shri Nishant Somaiya Date of conclusion of hearing : 22.09.2022 Date of pronouncement of order : 20.12.2022 O R D E R Per Rahul Chaudhary, Judicial Member: 1. By way of the present…

The Belgaum Coal and Coke Consumer Co-Operative Association Limited, Belgavi vs. Income Tax Officer, Ward - 1(1), Belgavi

Appeal is allowed in above terms

ITA 66/PAN/2019[2014-15]Status: DisposedITAT Panaji19 Dec 2022AY 2014-15

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Shivanand HalbhaviFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 2(19)Section 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 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 it…

The Keri Urban Co-Op. Credit Society Ltd., Keri, Goa vs. The Income Tax Officer, Ward-2(3), Panaji

Appeal is allowed in above terms

ITA 140/PAN/2019[2015-16]Status: DisposedITAT Panaji19 Dec 2022AY 2015-16

Bench: Shri Satbeer Singh Godara

For Appellant: Shri S.J. KamatFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 40Section 80PSection 80P(2)(a)Section 80P(2)(d)

…see by the Hon'ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). 5 ITA.No.140/PAN/2019 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 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…

Gramin Sewa Sahakari Samiti Maryadit, Pacheda, Abhanpur, Raipur vs. Income Tax Officer, Ward-1(1), Raipur

ITA 114/RPR/2022[2013-14]Status: DisposedITAT Raipur16 Dec 2022AY 2013-14

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.114/Rpr/2022 "नधा"रण वष" / Assessment Year : 2013-14 Gramin Sewa Sahakari Samiti Maryadit Village- Pacheda, Block-Abhanpur, Chhatisgarh-493 661 Pan : Aaaag9886H .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri G.S. Agrawal, CAFor Respondent: Shri G.N Singh, Sr. DR
Section 143(3)Section 250Section 251(2)Section 80P(1)(a)Section 80P(2)(c)Section 80P(2)(d)

…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…

Sanjay Co-Operative Credit Society Ltd, Thane vs. The Pr. Comm of Income Tax 1, Thane

In the result we allow the ground no

ITA 740/MUM/2022[2017-18]Status: DisposedITAT Mumbai13 Dec 2022AY 2017-18

Bench: Shri Kuldip Singh & Shri Gagan Goyalsanjay Co-Operative Credit Society Ltd., Sanjay Society Building, Uttam Naka, Bhayander, Thane-401106. Pan: Aacas3872P ...... Appellant Vs. Pcit-1, Ashar I.T. Park, 6Th Floor, Road No. 16Z, Wagle Indl. Estate, Thane-400604. ..... Respondent Appellant/Assessee By : Dr. Ravindra Nagesh Naik, Ca Respondent/Revenue By : Sh. Kailash Kanojia- Cit-Dr Date Of Hearing : 15/09/2022 Date Of Pronouncement : 13/12/2022 Order Per Gagan Goyal, A.M: This Appeal By Assessee Is Directed Against The Order Of Under Section 263 Of The Income Tax Act, 19061 [For Short ‘The Act’] Vide Order Dated 17.03.2022 For Assessment Year (Ay) 2017-18. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Ld. Pcit-1, Thane Erred In Law & On Facts In Not Appreciating That All The Details/ Information Relating To Interest Income Were Submitted During The Scrutiny

For Appellant: Dr. Ravindra Nagesh Naik, CAFor Respondent: Sh. Kailash Kanojia- CIT-DR
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ing on the decision of Supreme Court in the case of Totgar’s Co-op. Sale Society Vs. ITO, Karnataka: 322 ITR 283 (SC) (2010) in C. A. No. 1622/2010 dated 08.02.2010 and Karnataka High Court decision in the case of PCIT, Hubli Vs. Totgar’s Co-op. Sale Society: 395 ITR 611 dated 16.06.2017 (ITA No. 10066/2016) The brief facts of the decision given by Supreme Court in the case of Totgar’s Coop. Society is mentioned below: “Supreme Court decision in the case of Totgar’s Co-op. Sales Society Vs. ITO, Karnataka: 322 ITR 283 (SC) (2010) in C. A. No. 1622/2010 dated 08.02.2010. 8. Facts: The assessee being a co-op. credi…

M/S Sri Nagendra Credit Co Operative vs. The Income Tax Officer

ITA/658/2018HC Karnataka12 Dec 2022

Bench: P.S.DINESH KUMAR,T.G. SHIVASHANKARE GOWDA

Section 260Section 80P(2)(a)Section 80P(2)(d)

…he case and application of relevant laws. Therefore, in our view, it would be more appropriate to remand the matter on the file of the Assessing Officer instead of CIT(A) for fresh adjudication. 6 395 ITR 611 - 5 - ITA No. 658 of 2018 8. In the light of the above discussions, we modify the order passed by the ITAT to the extent of remanding the matter on the file of the CIT(A) and direct that the matter shall be remanded on the file of the AO for fresh consideration, in accordance with law. 9. The appeal is…

Bhima Sahakari Sakhar Karkahana Sevak Sahakari Patsanstha Takali, Solapur vs. Income-Tax Officer, Ward -2, Pandharpur

In the result, the appeal is allowed to that extent

ITA 828/PUN/2022[2017-18]Status: DisposedITAT Pune09 Dec 2022AY 2017-18

Bench: Shri R.S. Syalनिर्धारण वषा / Assessment Year : 2017-18 Bhima Sahakari Sakhar Karkhana Vs. Ito, Ward 2, Sevak Sahakari Patsanstha Pandharpur At Post Takli – Sikandar Taluka Mohol, Dist : Solapur – 413248 Pan: Aaaab8913E Appellant Respondent

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

…raj Sahakari Pat Sanstha Ltd. vs. ITO (2020) 120 taxmann.com 10 (Pune-Trib). Para 10 is relevant for the purpose, which reads as under: “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 3 Bhima Sahakari Sakhar Karkhana Sevak Sahakari Patsanstha 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 agricu…