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

State Bank of India Employees Co-Op Cr Soc, Pune vs. Income-Tax Officer, Ward 7(1), Pune

In the result, the appeal is allowed

ITA 306/PUN/2022[2018-19]Status: DisposedITAT Pune29 Aug 2022AY 2018-19

Bench: Shri R.S. Syalआयकर अपील सं. / Ita No.306/Pun/2022 "नधा"रण वष" / Assessment Year : 2018-19

Section 250Section 5Section 80PSection 80P(2)(a)Section 80P(2)(d)

…se of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the CIT(A) and the ld. DR on the case 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…

Dr Jagadale Mama Hospital Employees Co-Op Credit Society Ltd., Solapur vs. Principal Commissioner of Income-Tax - 4, Pune

Appeal is allowed in above terms

ITA 208/PUN/2022[2017-18]Status: DisposedITAT Pune29 Aug 2022AY 2017-18

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2017-18 Dr Jagadale Mama Hospital Vs. Pr.Cit-4, Pune Employees Coop Credit Society Ltd., Dhanaji Arjun Pawar Dr Jagadale Mama Hospital Employees Society, Shivaji Nagar Barshi Taluka Barshi, Solapur - 413401 Pan : Aaaad3228Q Appellant Respondent

Section 263Section 80PSection 80P(2)(a)

…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…

Mangaidevi Sahakari Patpedhi Maryadit, Mumbai vs. ITO WD-22(2) (1), Mumbai

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

ITA 701/MUM/2022[2017-18]Status: DisposedITAT Mumbai26 Aug 2022AY 2017-18
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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-ju…

Ocean Gold Co-Op Hsg. Soc.Ltd, Mumbai vs. DCIT -CPC, Bengaluru

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

ITA 1787/MUM/2022[2015-16]Status: DisposedITAT Mumbai25 Aug 2022AY 2015-16
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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-ju…

Ocean Gold Co-Op Hsg. Soc.Ltd, Mumbai vs. DCIT -CPC, Bengaluru

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

ITA 1786/MUM/2022[2014-15]Status: DisposedITAT Mumbai25 Aug 2022AY 2014-15
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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-ju…

Shri Ganesh Krupa Co-Operative Housing Society Ltd, Mumbai vs. Asst Dir of Income Tax CPC Bengaluru/ the ITO WD 22 (1) (1), Mumbai

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

ITA 1543/MUM/2022[2020-2021]Status: DisposedITAT Mumbai25 Aug 2022AY 2020-2021
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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-ju…

M/S. Vasavi Credit Co-Operative Society Limited, Raichur vs. Principal Commissioner of Income Tax, Hubali

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

ITA 365/BANG/2022[2017-18]Status: DisposedITAT Bangalore25 Aug 2022AY 2017-18

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

For Appellant: Sri.V.Srinivasan, AdvocateFor Respondent: Smt.Priyadarshini Baseganni, Addl.CIT-DR
Section 143(3)Section 263Section 68Section 80P(2)(a)Section 80P(2)(d)

…v. ITO reported in (2010) 322 ITR 283 (SC) and the judgment of 4 ITA No.365/Bang/2022. M/s.Vasavi Credit Co-operative Society Limited. the Hon’ble jurisdictional High Court in the case of Pr.CIT & Anr. v. Totagars Co-operative Sale Society reported in (2017) 395 ITR 611 (Kar.). 5. The assessee filed the objections to the show cause notice issued u/s 263 of the I.T.Act. It was submitted that as regards the cash deposits, the entire details were provided to the A.O. It was stated that the A.O. passed order u/s 143(3) of the I.T.Act after making sufficient inquiries and with proper application of mind. Therefore,…

Model Mig Co.Operative Housing Society Ltd, Mumbai vs. Income Tax Officer- Ward -23(2) (3), Mumbai

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

ITA 1719/MUM/2022[2017-18]Status: DisposedITAT Mumbai24 Aug 2022AY 2017-18
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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between 6 Model MIG-Cooperativ…

Model Mig Co.Operative Housing Society Ltd, Mumbai vs. ACIT -23(2), Mumbai

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

ITA 1718/MUM/2022[2014-15]Status: DisposedITAT Mumbai24 Aug 2022AY 2014-15
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. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between 6 Model MIG-Cooperativ…

Shri Sharad Gramin Bigar Sheti Sahakari Patasanstha Ltd., Pune vs. Principal Commissioner of Income-Tax -4, Pune

Appeal is allowed in above terms

ITA 313/PUN/2022[2017-18]Status: DisposedITAT Pune22 Aug 2022AY 2017-18

Bench: Shri S.S. Godara & Shri G.D. Padmahshaliनिर्धारण वषा / Assessment Year : 2017-18 Shri Sharad Gramin Bigar Sheti Vs. Pr.Cit-4, Pune Sahakari Pathasanstha Ltd., Sharad Sankul, Malegaon (Bk), Tal. Baramati, Dist. Pune – 413102 Pan : Aabas6680G Appellant Respondent

Section 263Section 80PSection 80P(2)(a)

…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…

Shantinath Nagari Sahakari Pat Sanstha Maryadit, Kolhapur vs. Assistant Director of Income-Tax, CPC, Bengaluru

In the result, the appeal of the assessee is allowed

ITA 534/PUN/2021[2019-20]Status: DisposedITAT Pune17 Aug 2022AY 2019-20

Bench: Us Is The Denial Of Deduction U/S 80P(2)(A)(I) Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) Even Though The Assessee Qualifies For Deduction Being A Registered Co-Operative Society Vis-À-Vis In Providing Credit Facilities To Its Members. There Are Several Decisions Of The Co-Ordinate Bench Pune, Where Deduction U/S 80P(2)(A)(I) Has Been Allowed To A Registered Co-Operative Society Engaged In Providing Credit Facilities To Its Members. In Ita No. 826/Pun/2019 For A.Y. 2014-15, Order Dated 23-09-2020, It Was Held As Follows:

For Appellant: Shri Pramod ShingteFor Respondent: Shri Arvind Desai
Section 80PSection 80P(1)Section 80P(2)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 its m…

Panchaganga Raithara Seva Sahakara Sangha Limited, Udupi vs. Income Tax Officer, Ward-2, Udupi

ITA 589/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Aug 2022AY 2017-18

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu & S.P. No. 35/Bang/2022 (In Ita No. 589/Bang/2022) Assessment Year : 2017-18 M/S. Panchaganga Raithara Seva Sahakara The Income Tax Sangha Ltd., Officer, Hemmady, Ward 2, Kundapura Taluk Udupi. Udupi Dist. – 576 230. Vs. Pan: Aaaap0513A Appellant Respondent

For Respondent: Shri Mahesh R Uppin
Section 143(3)Section 18(1)Section 250Section 28Section 40A(7)Section 43(2)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…,91,374/- by relying on the ratio of the judgment of the Hon'ble Karnataka High Court in the case of Pr.CIT & Anr. v. Totagars Co- operative Sale Page 4 of 10 ITA No. 589/Bang/2022 & S.P. No. 35/Bang/2022 (in ITA No. 589/Bang/2022) Society reported in (2017) 395 ITR 611. The Ld.CIT(A) also held that the assessee is not entitled to deduction u/s 80P(2)(d) of the I.T.Act since the interest income was not received from investments with other co-operative societies. 2.4 Aggrieved by the order of the Ld.CIT(A), the assessee has preferred this appeal before this Tribunal. 3. The Ld.AR submitted that all the issues all…

M/S. Shri Mahishasuramardini Urban Co-Operative Credit Society Limited, Haveri vs. Income Tax Officer, Wrd-1, Haveri

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

ITA 566/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Aug 2022AY 2017-18

Bench: Shri Chandra Poojari

For Appellant: Sri.Vishal S Rao, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel
Section 234ASection 234BSection 69ASection 80P(2)(a)

…ities as "investment" are ineligible for deduction under section 80P(2)(a)(i) of the Act. (Paragraph-13 of the Judgment) 13. It can thus be seen that the ratio laid down by the Hon’ble Karnataka High Court in the case of Totalgars Cooperative Sales Society in 395 ITR 611 (Karn) is that in the light of the principles enunciated by the Supreme Court in Totgars Co-operative Sale Society (supra), in case of a society engaged in providing credit facilities to its members, income from investments made in banks 10 ITA No.566/Bang/2022. Sri Mahishasuramanrdini Urban Co-op Cr.So.Ltd. does not fall within any of the categ…

The Mysore Co-Op. Housing Society Ltd., Mumbai vs. Pr. CIT-27, Navi Mumbai

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

ITA 730/MUM/2021[2015-16]Status: DisposedITAT Mumbai10 Aug 2022AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhthe Mysore Co-Op Vs. Pr.Cit-27, Housing Society Ltd, Room No -401, 4 Th Gateno2, Mysore Colony, Floor, Tower-6, Vashi Near Rcf Factory, Railway Station Anik,Off Majul Road, Commercial Complex, Chembur, Vashi,Navi Mumbai- Mumbai-400074 400073. Pan/Gir No. : Aacft7837N Appellant .. Respondent Appellant By : Mr.M.Subramanian.& Ms.Varsha Nanwani.Ar Respondent By : Mr. Ajay. Cit Dr Date Of Hearing 08.08.2022 Date Of Pronouncement 10.08.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed An Appeal Against The Order Of The Principal Commissioner Of Income Tax (Pr.Cit), Mumbai Passed U/S 263 Of The Act Dated 17.03.2021. Mysore Co-Op Housing Society Ltd. Mumbai. 2. The Brief Facts Of The Case Are That The Assesse Is A Cooperative Housing Society & Derives Income House Property & Interest From Bank & Provides Credit Facilities To Its Members. The Assessee Has Filed The Return Of Income For The A.Y 2015-16 Electronically On 26.10.2015 Disclosing A Total Income Of Rs.43,08,320/- After Claiming Deduction U/S 80P(2)(D) Of The Act Of Rs.85,80,391/-In Respect Of Interest Income Received On Deposits With Co-Op Banks. The Return Of Income Was Processed U/S 143(1) Of The Act. Subsequently The Case Was Selected For Limited Scrutiny Through Cass For Verification Of (I)Income From Heads Of Income Other Than Business/Profession Mismatch(Ii)Sales Turnover Mismatch & (Iii) Deduction Under Chapter Vi-A. The Assessing Officer (A.O.) Issued Notice U/S 143(2) & 142(1) Of The Act Along With The Questionnaire. In Compliance, The Ld.Ar Of The Assessee Appeared From Time To Time, Produced The Books Of Accounts & Submitted The Relevant Details & Documents & The Case Was Discussed.

For Appellant: Mr.M.Subramanian.&For Respondent: Mr. Ajay. CIT DR
Section 143(1)Section 143(2)Section 143(3)Section 263Section 80P(2)(d)

…the investments/deposits parked with a co-operative bank. Although, in all fairness, we may herein observe that the Mysore Co-op Housing Society Ltd. Mumbai. 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…

Shri P Z Bagal Gramin Sah Patpedhi Ltd, Dhule vs. Income-Tax Officer, Ward 3, Dhule

In the result, both the appeals are allowed

ITA 329/PUN/2022[2017-18]Status: DisposedITAT Pune05 Aug 2022AY 2017-18

Bench: Shri R.S. Syalआयकर अपील सं. / Ita Nos.328 & 329/Pun/2022 "नधा"रण वष" / Assessment Years : 2015-16 & 2017-18

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

…Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the CIT(A) on the case 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 Shri P.Z. Bagal Gramin Sah. Patpedhi Ltd., 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…

Shri P Z Bagal Gramin Sah Patpedhi Ltd, Dhule vs. Income-Tax Officer, Ward 3, Dhule

In the result, both the appeals are allowed

ITA 328/PUN/2022[2015-16]Status: DisposedITAT Pune05 Aug 2022AY 2015-16

Bench: Shri R.S. Syalआयकर अपील सं. / Ita Nos.328 & 329/Pun/2022 "नधा"रण वष" / Assessment Years : 2015-16 & 2017-18

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

…Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. Reliance of the CIT(A) on the case 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 Shri P.Z. Bagal Gramin Sah. Patpedhi Ltd., 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…

ITO -WD 26(2)(1), Mumbai vs. Larsen and Tourbo Kamgar Sahakari Patpedhi Maryadit, Mumbai

ITA 2562/MUM/2021[2019-20]Status: DisposedITAT Mumbai05 Aug 2022AY 2019-20

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahman आअसं.2562/मुं/2021 ("न.व. 2019-20) Income Tax Officer, Ward 26(2)(1), 315, 3Rd Floor, Kautilya Bhavan, Bandra (East), Mumbai – 400 051. ...... अपीलाथ" /Appellant बनाम Vs. Larsen An Toubro Kamgar Sahakari Patpedni Maryadid, Gate No.1, Larsen Toubro Campus, Saki Vihar Road, Powai, Mumbai 400 072. Pan: Aaabl-0014H. ..... ""तवाद"/Respondent C.O. No.56/Mum/2022 (Arising Out Of Ita No.2562/Mum/2021,A.Y. 2019-20) Larsen An Toubro Kamgar Sahakari Patpedni Maryadid, Gate No.1, Larsen Toubro Campus, Saki Vihar Road, Powai, Mumbai 400 072. .... Cross Objector बनाम Vs. Income Tax Officer, Ward 26(2)(1), 315, 3Rd Floor, Kautilya Bhavan, Bandra (East), Mumbai – 400 051 ...... Appellant In Appeal

For Appellant: Shri Mehul JainFor Respondent: Shri S.P.Kenekar
Section 143(1)Section 143(1)(a)Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…eligible to claim deduction u/s. 80P of the Act. In support of his contentions the ld. Departmental Representative placed reliance on the decision rendered by Hon'ble Karnataka High Court in the case of PCIT vs. Totagars, Co-operative Sale Society reported as 395 ITR 611. 6. Per contra, the ld. Authorized Representative for the assessee vehemently supported the findings of CIT(A) in allowing deduction u/s. 80P(2)(d) of the Act. The LA to further support his submissions placed reliance on following decisions: (i) MTNL Mumbai Employees Co.Op. Credit Society Ltd. vs. ITO-21(2)(2), ITA No.7352/Mum/2016, A.Y.2013-14…

Gramin Sewa Sahakari Samiti Maryadit, Vill: Siriyadih, Distt: Balodabazar vs. Income Tax Officer, Bhatapara

ITA 157/RPR/2019[2013-14]Status: DisposedITAT Raipur04 Aug 2022AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 143(3)

…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…

Gramin Sewa Sahakari Samiti Maryadit, Vill: Risda, Dist: Baloda Bazar vs. Income Tax Officer, Bhatapara

ITA 154/RPR/2019[2013-14]Status: DisposedITAT Raipur04 Aug 2022AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 143(3)

…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…

Gramin Sewa Sahakari Samiti Maryadit, Vill: Pond Dist: Raipur vs. Income Tax Officer, Ward- 1(1), Raipur

ITA 153/RPR/2019[2013-14]Status: DisposedITAT Raipur04 Aug 2022AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

Section 143(3)

…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…