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

C.G. Power and Industrial Solutions Ltd Employees Co Op. Credit Soc. Ltd, Mumbai vs. ITO 26 (1) (1), Mumbai

In the result, impugned order is set-aside and appeal by assessee is allowed

ITA 2044/MUM/2021[2015-16]Status: DisposedITAT Mumbai01 Aug 2022AY 2015-16

Bench: Shri Vikas Awasthyआअसं. 2044/मुं/2021 ("न.व 2015-16) Cg Power & Industrial Solutions Ltd.Employees Co Op Credit Society Ltd. C/O. Mrs. Sadhana Modak, 102, Kamal Villa Co-Op. Hsg. Society, Aaglave Lane, Gandhi Chowk, Kalyan West, Dist. Thane – 421 301. Pan: Aaaac-2551-P ...... अपीलाथ" /Appellant बनाम Vs. Income Tax Officer -26(1)(1), Kautilya Bhavan, Bandra(East) Mumbai 400 051. . ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri Ritesh Gawande ""तवाद" "वारा/Respondent By : Ms. Beena Santosh सुनवाई क" "त"थ/ Date Of Hearing : 01/08/2022 घोषणा क" "त"थ/ Date Of Pronouncement : 01/08/2022

For Appellant: Shri Ritesh GawandeFor Respondent: Ms. Beena Santosh
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…en taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134. 7. However, on the same issue Hon'ble Karnataka High court in the subsequent judgment in the case of PCIT vs. Totagars, Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here that the Hon'ble High Court while rendering the later judgement has not considered the earlier decision rendered in the case of Tot…

Saraswati Pagardar Sevakannchi Sahakari Pat. Maryadit, Pune vs. Pr. Commissioner of Income-Tax -5, Pune

Appeal is allowed in above terms

ITA 591/PUN/2019[2014-15]Status: DisposedITAT Pune29 Jul 2022AY 2014-15

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2014-15 Saraswati Pagardar Sevakannchi Vs. Pr.Cit-5, Pune Sahakari Patsanstha Maryadit Saraswati School, Shree Krushna Nagar, Akurdi, Pune-411035 Pan : Aaias8438H Appellant Respondent

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

Umasa Chavan Nagari Sahakari Patsanstha, Solapur vs. Principal Commissioner of Income-Tax: 4, Pune

Appeal is allowed in above terms

ITA 232/PUN/2022[2017-18]Status: DisposedITAT Pune29 Jul 2022AY 2017-18

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2017-18 Umasa Chavan Nagari Sahakari Vs. Pr.Cit-4, Pune Patsanstha 267 46 Raviwar Peth, Solapur – 413005 Pan : Aaabu0049D Appellant Respondent

Section 263Section 80OSection 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…

Shree Tuljabhavani Nagari Sahakari Pat Sanstha Maryadit, Pune vs. Principal Commissioner of Income Tax -5, Pune

In the result, appeal of the Assessee is allowed

ITA 254/PUN/2020[2014-2015]Status: DisposedITAT Pune28 Jul 2022AY 2014-2015

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.254/Pun/2020 िनधा"रणवष" /Assessment Year: 2014-15 Shree Tuljabhavani Nagari The Principal Commissioner Sahakari Pat Sanstha Maryadit, Vs Of Income Tax - 5, Pune. 17/04, 103, Shri Tuljibhavani Plaza Mangalnagar, Wakad Road, Thergaon, Pune. Pan: Aadas 9902 P Appellant/ Assessee Respondent/ Revenue Assessee By None. Revenue By Shri Arvind Desai – Dr Date Of Hearing 16/06/2022 Date Of Pronouncement 28/07/2022 आदेश/ Order Per Dr.Dipak P.Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Pr.Commissioner Of Income-Tax-5, Pune’S, Order Dated 08.01.2019For The Assessment Year 2014-15, Involving Proceedings Under Section 263(1) Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal: “1. Pr.Commissioner Of Income Tax Has Erred In Passing The Order Which Is Without Jurisdiction & Bad In Law. Same May Please Be Cancelled. 2. Pr.Cit Has Erred In Alleging That Order U/S 143(3) Passed By Assessing Officer Is Erroneous In So Far As It Is Prejudicial To The Interest Of Revenue. Appellant Prays To Cancel The Same.

Section 143(3)Section 263Section 263(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…vour 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 v. Totagars Cooperative Sales Society [2017] 83 taxmann.com 140/395 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…

Swami Vivekanand State Co.Operative Credit Society Ltd., Solapur vs. Principal Commissioner of Income-Tax: 4, Pune

Appeal is allowed in above terms

ITA 230/PUN/2022[2017-18]Status: DisposedITAT Pune28 Jul 2022AY 2017-18

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2017-18 Swami Vivekanand Multi State Vs. Pr.Cit-4, Pune Co-Operative Credit Society Ltd. 658/659, Near Janta Bank, Main Road, Akkalkot, Dist. Solapur - 413216 Pan : Aaias3245A Appellant Respondent

Section 263Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 8o

…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…

M/S. Mumbai Kolsa Kamgar Sahakari Society, Mumbai vs. The ITO 17(2) (3), Mumbai

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

ITA 720/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jul 2022AY 2014-15
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…

Mahatma Phule Gramin Bigar Sheti Sahakari Pat Sanstha Maryadit, Solapur vs. Principal Commissioner of Income-Tax, Pune

Appeal is allowed in above terms

ITA 187/PUN/2021[2015-16]Status: DisposedITAT Pune19 Jul 2022AY 2015-16
For Appellant: NoneFor Respondent: Shri Rajeev Kumar
Section 143(3)Section 263Section 56Section 80PSection 80P(2)(a)Section 80p

…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…

Karishma Co-Op Housing Society Ltd, Pune vs. Pr. Commissioner of Income Tax 2, Pune

Appeals are allowed in above terms

ITA 2/PUN/2021[2017-18]Status: DisposedITAT Pune07 Jul 2022AY 2017-18

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita Nos.1 & 2/Pun/2021 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 Karishma Co-Op Housing Pr.Commissioner Of Income Society Ltd., Vs Tax-2, Pune. Near Sangam Press, Karve . Road, Kothrud, Pune – 411038. Pan: Aaaak 9772 C Appellant/ Assessee Respondent /Revenue Assessee By Shri Pramod Shingte – Ar Revenue By Shri Sunil Kumar – Cit(Dr) Date Of Hearing 24/06/2022 Date Of Pronouncement 07/07/2022 आदेश/ Order Per S.S.Godara, Jm: These Assessee’S Twin Appeals For The A.Y.2016-17 & 2017- 18 Arise Against The Pr.Cit-2, Pune’S Separate Orders, Passed In Case No.Pn/Pcit-2/263/2020-21/1084, Pn/Pcit-2/263/2020-21/1085, Both Dated 10.12.2020, Respectively, Involving Proceedings Under Section 263 Of The Income Tax Act [In Short “The Act”].

Section 143(3)Section 263Section 80B(2)(ii)Section 80P(2)(d)

…n all fairness, we may herein observe ITA Nos.01 & 02/PUN/2021 for A.Y. 2016-17 & 17-18 Karishma Co-op Housing Society Ltd., Vs. Pr.CIT-2, Pune (A) 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…

Karishma Co-Op Housing Society Ltd, Pune vs. Pr. Commissioner of Income Tax 2, Pune

Appeals are allowed in above terms

ITA 1/PUN/2021[2016-17]Status: DisposedITAT Pune07 Jul 2022AY 2016-17

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita Nos.1 & 2/Pun/2021 िनधा"रणवष" / Assessment Years: 2016-17 & 2017-18 Karishma Co-Op Housing Pr.Commissioner Of Income Society Ltd., Vs Tax-2, Pune. Near Sangam Press, Karve . Road, Kothrud, Pune – 411038. Pan: Aaaak 9772 C Appellant/ Assessee Respondent /Revenue Assessee By Shri Pramod Shingte – Ar Revenue By Shri Sunil Kumar – Cit(Dr) Date Of Hearing 24/06/2022 Date Of Pronouncement 07/07/2022 आदेश/ Order Per S.S.Godara, Jm: These Assessee’S Twin Appeals For The A.Y.2016-17 & 2017- 18 Arise Against The Pr.Cit-2, Pune’S Separate Orders, Passed In Case No.Pn/Pcit-2/263/2020-21/1084, Pn/Pcit-2/263/2020-21/1085, Both Dated 10.12.2020, Respectively, Involving Proceedings Under Section 263 Of The Income Tax Act [In Short “The Act”].

Section 143(3)Section 263Section 80B(2)(ii)Section 80P(2)(d)

…n all fairness, we may herein observe ITA Nos.01 & 02/PUN/2021 for A.Y. 2016-17 & 17-18 Karishma Co-op Housing Society Ltd., Vs. Pr.CIT-2, Pune (A) 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…

Suntcoppa Vyavasaya Seva Sahakara Bank Limited, Kodagu vs. The Principal Commissioner of Income Tax, Mysore

ITA 487/BANG/2021[2015-16]Status: DisposedITAT Bangalore30 Jun 2022AY 2015-16
For Appellant: None
Section 143(3)Section 260Section 263Section 80P(2)(a)

…(a)(i) of the I.T.Act. as the same is not related to any banking activity. Further, the CIT held 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 Society reported in (2017) 395 ITR 611, 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. 4.3 Aggrieved by the order passed u/s 263 of the I.T.Act, the assessee has preferred this appeal before the Tribunal. 5. The Ld.AR submitted that, identical issue was considered by…

Shri Shridharswamy Credit Souharda Sahakari Niyamit, Belagavi vs. ITO, Ward - 2(1), Belgavi

In the result, all the three appeals of the assessee are partly allowed for statistical purposes

ITA 136/PAN/2018[2012-13]Status: DisposedITAT Panaji15 Jun 2022AY 2012-13

Bench: Shri C.M. Garg & Shri Girish Agrawal

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…

Balasinor Road Transport Co. Op. Society Ltd., Mahisagar vs. The Income Tax Officer, Lunawada

In the result appeal of the assessee is hereby partly allowed

ITA 40/AHD/2022[2015-16]Status: DisposedITAT Ahmedabad15 Jun 2022AY 2015-16

Bench: Shri Waseem Ahmed & Shri Siddharatha Nautiyalआयकर अपील सं./Ita Nos. 39-40/Ahd/2022 िनधा"रण वष"/Asstt. Years: (2014-2015 & 2015-2016) Balasinor Road Transport Co-Op. Income Tax Officer, Society Ltd., Vs. Lunawada. Rajpuri Gate, Balasinor, Dist. Mahisagar-388255. Pan: Aaaab5121G

For Appellant: Shri M.K. Patel, AdvocateFor Respondent: Shri Umesh Agarwal, Sr.D.R
Section 80P(2)(c)Section 80P(2)(d)

…ssue is accordingly resolved in favour of the assessee and against the Revenue. ITA nos.39-40/AHD/2022 A.Y. 2014-15 & 2015-16 8 9.10 We are conscious of the decision of the Hon’ble Karnatka High Court in Pr.CIT vs. Totagars Co.operative Sales Society (2018) 395 ITR 611 (Karn) wherein it was held that interest income not arising from business operations is not eligible for deduction under s.80P of the Act. A reading of the judgment of the Hon’ble High Court shows that it was guided by nature of activity to determine the character of income for the purposes of Section 80P(2)(d) of the Act. Placing reliance upon t…

Balasinor Road Transport Co. Op. Society Ltd., Mahisagar vs. The Income Tax Officer, Lunawada

In the result appeal of the assessee is hereby partly allowed

ITA 39/AHD/2022[2014-15]Status: DisposedITAT Ahmedabad15 Jun 2022AY 2014-15

Bench: Shri Waseem Ahmed & Shri Siddharatha Nautiyalआयकर अपील सं./Ita Nos. 39-40/Ahd/2022 िनधा"रण वष"/Asstt. Years: (2014-2015 & 2015-2016) Balasinor Road Transport Co-Op. Income Tax Officer, Society Ltd., Vs. Lunawada. Rajpuri Gate, Balasinor, Dist. Mahisagar-388255. Pan: Aaaab5121G

For Appellant: Shri M.K. Patel, AdvocateFor Respondent: Shri Umesh Agarwal, Sr.D.R
Section 80P(2)(c)Section 80P(2)(d)

…ssue is accordingly resolved in favour of the assessee and against the Revenue. ITA nos.39-40/AHD/2022 A.Y. 2014-15 & 2015-16 8 9.10 We are conscious of the decision of the Hon’ble Karnatka High Court in Pr.CIT vs. Totagars Co.operative Sales Society (2018) 395 ITR 611 (Karn) wherein it was held that interest income not arising from business operations is not eligible for deduction under s.80P of the Act. A reading of the judgment of the Hon’ble High Court shows that it was guided by nature of activity to determine the character of income for the purposes of Section 80P(2)(d) of the Act. Placing reliance upon t…

Income-Tax Officer Ward- 10(1), Akurdi vs. Shri Sainath Nagari Sahkari Patsanstha Maryadit, Ambegaon

In the result, the grounds raised by the Revenue in ITA No

ITA 75/PUN/2021[2017-18]Status: DisposedITAT Pune15 Jun 2022AY 2017-18
For Appellant: Shri M.G. JasnaniFor Respondent: None
Section 80PSection 80P(2)(a)Section 80P(2)(d)

…a High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). The position continues to remain the same before this Bench also. 4. Reliance of the ld. DR in 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 cooperative 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 and…

Income-Tax Officer, Ward-10(1), Akurdi vs. Vasantrao Naik Nagari Sahkari Patsanstha Maryadit, Alephata

In the result, the grounds raised by the Revenue in ITA No

ITA 74/PUN/2021[2017-18]Status: DisposedITAT Pune15 Jun 2022AY 2017-18
For Appellant: Shri M.G. JasnaniFor Respondent: None
Section 80PSection 80P(2)(a)Section 80P(2)(d)

…a High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). The position continues to remain the same before this Bench also. 4. Reliance of the ld. DR in 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 cooperative 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 and…

El Cid Co .Op.Hsg. Soc. Ltd., Mumbai vs. ITO, WD 19(1)(3), Mumbai

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

ITA 2266/MUM/2021[2016-17]Status: DisposedITAT Mumbai14 Jun 2022AY 2016-17

Bench: Shri M. Balaganesh () & Shri Pavan Kumar Gadale () Assessment Year: 2016-17

For Appellant: Mr. Pravin Chedda, ARFor Respondent: Ms. Samruddhi Hande, DR
Section 143(2)Section 143(3)Section 234BSection 234CSection 5(1)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…

M/S.Nlc Indcoserve, Cuddalore vs. Income Tax Officer, Ward-2, Cuddalore

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

ITA 900/CHNY/2020[2016-17]Status: DisposedITAT Chennai08 Jun 2022AY 2016-17

Bench: Shri Mahavir Singhand Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri. AR V Sreenivasan, Addl. CIT
Section 143(3)Section 72Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(2)(vi)

…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 Section 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…

Sea Flama(Dosti Flamingos) Chs Ltd, Mumbai vs. DCIT (E) -1 (1), Mumbai

In the result, all the appeals are allowed

ITA 2317/MUM/2021[2015-16]Status: DisposedITAT Mumbai27 May 2022AY 2015-16
For Appellant: Shri Kishor P. ChoudhariFor Respondent: Shri Avinash Tiwari
Section 80PSection 80P(2)(a)Section 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 Section 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…

M/S. Mayura Credit Co-Operative Society Limited, Bengaluru vs. The Income Tax Officer, Ward-6(2)(2), Bengaluru

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

ITA 741/BANG/2021[2016-17]Status: DisposedITAT Bangalore24 May 2022AY 2016-17

Bench: Shri B. R. Baskaranassessment Year : 2016-17 M/S. Mayura Credit Co-Operative Ito, Vs. Society Ltd., Ward – 6(2)(2), No.188/39, 5Th Cross, Kurubarahalli, Bengaluru. Mahalakshmipura, Bengaluru – 560 086. Pan : Aadam 0708 N Appellant Respondent Assessee By : Shri. Shivaprasad Reddy, Ar Revenue By : Shri. Ganesh R Ghale, Standing Counsel For Department. Date Of Hearing : 24.05.2022 Date Of Pronouncement : 24.05.2022 O R D E R

For Appellant: Shri. Shivaprasad Reddy, ARFor Respondent: Shri. Ganesh R Ghale, Standing Counsel for Department
Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC - A” BENCH : BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Mayura Credit Co-operative ITO, Vs. Society Ltd., Ward – 6(2)(2), No.188/39, 5th Cross, Kurubarahalli, Bengaluru. Mahalakshmipura, Bengaluru – 560 086. PAN : AADAM 0708 N APPELLANT RESPONDENT Assessee by : Shri. Shivaprasad Reddy, AR Revenue by : Shri. Ganesh R Ghale, Standing Counsel for Department. Date of hearing : 24.05.2022 Date of Pronouncement : 24.05.2022 O R D E R The assessee has filed this appeal challenging the order dated 28-10- 2019 passed by Ld CIT(A)-6, Be…

M/S Nagashettikoppa Chibbalageri Vyavasaya Seva Sahakari Sangha Niyamit, Uttara Kannada vs. Income Tax Officer, Ward-2(3), Hubballi

In the result, appeal of the assessee is treated as partly allowed for statistical purpose

ITA 53/BANG/2022[2017-18]Status: DisposedITAT Bangalore12 May 2022AY 2017-18

Bench: Shri Chandra Poojariassessment Year : 2017-18

For Appellant: Sri Vishal S Rao, A.RFor Respondent: Shri Ganesh R. Ghale, Standing counsel for dept
Section 143(2)Section 234BSection 80P(2)(a)

…thing to do with deduction under section 80P(2)(d) of the Act. 9. The CIT, after considering submissions made by the assessee, came to the conclusion that the later decision of the Hon’ble Karnataka High Court in the case of Totagars Co-operative Sale Society 395 ITR 611(Karn), the Hon’ble ITA No.514/Bang/2021 Page 4 of 13 Court has explained its earlier decision and held that interest received on deposits with Co-operative Bank is not eligible for deduction under section 80P(2)(d) of the Act. The CIT accordingly directed that the deduction allowed should be withdrawn. 10. An order passed contrary to a decision…