Pr. CIT v. Totagars

S. K. Co-Operative Employess' Co-Operative Society Limited, Mangaluru vs. Income Tax Officer, Ward - 2(1), Mangaluru

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

…nd it is confirmed by CIT(A). He submitted that the main basis of the decision of the authorities below is by following the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society as reported in 395 ITR 611 (Karn). ITA Nos. 939 & 940/Bang/2019 Page 2 of 3 He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below has examined and c…

S. K. Co-Operative Employees' Co-Operative Society Limited, Mangaluru vs. Income Tax Officer, Ward - 2(1), Mangaluru

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

…nd it is confirmed by CIT(A). He submitted that the main basis of the decision of the authorities below is by following the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society as reported in 395 ITR 611 (Karn). ITA Nos. 939 & 940/Bang/2019 Page 2 of 3 He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below has examined and c…

Byndoor Vyavasaya Seva Sahakari Sangha Niyamitha, Kundapura vs. Income Tax Officer, Ward - 2, Udupi

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2016-17 M/S. Byndoor Vyavasaya Seva The Income Tax Sahakari Sangha Ltd., Officer, Yedthare, Byndoor, Vs. Ward – 2, Byndoor Taluk – 576 214. Udupi. Pan: Aacab5016C Appellant Respondent Assessee By : Shri Mahesh R. Uppin, Advocate Revenue By : Shri K.N. Dhandapani, Jcit (Dr) Date Of Hearing : 10.06.2019 Date Of Pronouncement : 14.06.2019

…nd it is confirmed by CIT(A). He submitted that the main basis of the decision of the authorities below is by following the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society as reported in 395 ITR 611 (Karn). He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below has Page 2 of 3 examined and compared the facts of the prese…

Daiwajna Credit Co-Operative Society Limited, Udupi vs. Income Tax Officer, Ward - 1& Tps, Udupi

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2016-17 M/S. Daiwajna Credit Co-Op. Society Ltd., The Ito, Sri Hari Towers, Ward – 1 & Kanakadasa Road, Vs. Tps, Udupi – 576 101. Udupi. Pan: Aacad0856C Appellant Respondent Assessee By : Shri Mahesh R. Uppin, Advocate Revenue By : Shri K.N. Dhandapani, Jcit (Dr) Date Of Hearing : 10.06.2019 Date Of Pronouncement : 14.06.2019

…nd it is confirmed by CIT(A). He submitted that the main basis of the decision of the authorities below is by following the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society as reported in 395 ITR 611 (Karn). He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below has Page 2 of 3 examined and compared the facts of the prese…

Belapu Vyavasaya Seva Sahakari Sangha Niyamitha, Udupi vs. Income Tax Officer Ward-1 & Tps, Udupi

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2016-17 M/S. Belapu Vyavasaya Seva The Income Tax Sahakari Sangha Ltd., Officer, Paniyoor, Belapu Post, Vs. Ward – 1 & Tps, Udupi – 574 140. Udupi. Pan: Aacab7010N Appellant Respondent Assessee By : Shri Mahesh R. Uppin, Advocate Revenue By : Shri K.N. Dhandapani, Jcit (Dr) Date Of Hearing : 10.06.2019 Date Of Pronouncement : 14.06.2019

…nd it is confirmed by CIT(A). He submitted that the main basis of the decision of the authorities below is by following the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society as reported in 395 ITR 611 (Karn). He also submitted that other judgment on which reliance has been placed by the authorities below is the judgment of Hon’ble Apex Court rendered in the case of The Citizen Co-operative Society Ltd. Vs. ACIT as reported in 397 ITR 1. He submitted that none of the authorities below Page 2 of 3 has examined and compared the facts of the prese…

M/S Sri Basaveshwara Swamy Pattana Pattina Sahakara Sangha Niyamitha, Shivamoga vs. The Income Tax Officer Ward-5, Shivamoga

In the result, appeals by the assessee are treated as allowed for statistical purposes

Bench: Shri Jason P. Boazassessment Year : 2014-15 M/S. Sri Basaveshwara Swamy Vs. The Income-Tax Officer Pattana Pattina Sahakara Sangha Ward-5, Niyamitha, Shivamogga. Basava Sadana, Neharu Road, Shivamogga – 577 201. Pan : Aabas 7894 N Appellant Respondent Assessee By : Smt. Sowmya, Advocate Revenue By : Shri. Sumer Singh Meena, Addl. Cit Date Of Hearing : 25.04.2019 Date Of Pronouncement : 15.05.2019 O R D E R

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-C” BENCH : BANGALORE BEFORE SHRI JASON P. BOAZ, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Sri Basaveshwara Swamy Vs. The Income-Tax Officer Pattana Pattina Sahakara Sangha Ward-5, Niyamitha, Shivamogga. Basava Sadana, Neharu Road, Shivamogga – 577 201. PAN : AABAS 7894 N APPELLANT RESPONDENT Assessee by : Smt. Sowmya, Advocate Revenue by : Shri. Sumer Singh Meena, Addl. CIT Date of hearing : 25.04.2019 Date of Pronouncement : 15.05.2019 O R D E R This appeal by the assessee is directed against the order of CIT(A), Davangere, dated 22.11.2018 for Assessment Year 20…

M/S Ksfc Employees Housing Co-Operative Society Limited, Bangalore vs. Income Tax Officer Ward-1(2)(5), Bangalore

In the result, the assessee’s appeal for Assessment Year 2012-13 is dismissed

Bench: Shri Jason P. Boazassessment Year : 2013-14 M/S. Ksfc Employees Housing Co- Vs. Income-Tax Officer, Operative Society Ltd., Ward - 1(2)(5), No.1/1, Thimmaiah Road, Bangalore. Bangalore – 560 052. Pan : Aabak 6180 F Appellant Respondent Assessee By : Shri. Sandeep C, C.A. Revenue By : Shri. Sumer Singh Meena, Addl. Cit Date Of Hearing : 23.04.2019 Date Of Pronouncement : 08.05.2019 O R D E R

…and perused the material on record. The issue pertains to eligibility of the assessee for claiming the deduction u/s.80P2(d), is squarely covered against the assessee by the categorical pronouncement in the matter of Pr. CIT versus Totgars Co-op Sale Society [395 ITR 611] , wherein after taking into account the judgment of the Hon'ble Supreme Court in the matter of Totgar's Cooperative Sale Society v. ITO [322 ITR 283] the issue was decided against the assessee. We do not find any reason to take a contrary view and accordingly the ground raised by the assessee is dismissed.” Page 6 of 6 6.2.2 Respectfully follow…

M/S Bhadravathi Town Bhavasara Kshatriya Co-Operative Society Limited, Shimoga vs. Income Tax Officer Ward-1, Shimoga

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

Bench: Shri Arun Kumar Garodiaassessment Year :2015-16 M/S. Bhadravathi Town Bhavasara Kshatriya Co- Operative Society Ltd., The Income Tax B.H. Road, Nr. Halappa Officer, Vs. Circle, Ward – 1, Bhadravathi – 577 301. Shivamogga. Shivamogga Dist. Pan: Aacab3097M Appellant Respondent Appellant By : Shri Rakesh .C.R, Ca Respondent By : Shri Palani Kumar, Addl. Cit (Dr) Date Of Hearing : 30.04.2019 Date Of Pronouncement : 30.04.2019

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER Assessment Year :2015-16 M/s. Bhadravathi Town Bhavasara Kshatriya Co- operative Society Ltd., The Income Tax B.H. Road, Nr. Halappa Officer, Vs. Circle, Ward – 1, Bhadravathi – 577 301. Shivamogga. Shivamogga Dist. PAN: AACAB3097M APPELLANT RESPONDENT Appellant by : Shri Rakesh .C.R, CA Respondent by : Shri Palani Kumar, Addl. CIT (DR) Date of hearing : 30.04.2019 Date of Pronouncement : 30.04.2019 O R D E R Per Shri A.K. Garodia, Accountant Member This appeal is filed by the assessee and the same is…

M/S Karnataka State Government House Building Co-Operative Society Ltd, Bangalore vs. Income Tax Officer Ward-3(2)(2), Bangalore

In the result, all the three appeals of the assessee are partly allowed as common grounds of law are raised by the assessee

…and perused the material on record. The issue pertains to eligibility of the assessee for claiming the deduction u/s.80P2(d), is squarely covered against the assessee by the categorical pronouncement in the matter of Pr. CIT versus Totgars Co-op Sale Society [395 ITR 611] , wherein after taking into account the judgment of the Hon’ble Supreme Court in the matter of Totgar’s Cooperative Sale Society v. ITO [322 ITR 283] the issue was decided against the assessee. We do not find any reason to take a contrary view and accordingly the ground raised by the assessee is dismissed. 08. With respect of ground no.5, it wa…

M/S Bajpe Vyavasaya Seva Sahakari Bank Niyamitha, Mangalore vs. The Income Tax Officer Ward-2(4), Mangalore

In the result, both the appeals filed by the assessee are treated as allowed for statistical purposes

Bench: Shri N.V.Vasudevan, Vp & Shri B.R.Baskaran, Am

…rary parking of own surplus funds not immediately required is eligible for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon’ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn). 6. We have carefully gone through the judgment relied by the learned DR. The facts of the case before the Hon’ble Karnataka High Court in the decision cited by the learned DR was that the Hon’ble Court was considering a case relating to Assessment Years 2007-08 to 2011-12. In case decided by the Hon’ble Supreme Court in the case of the ve…

M/S Bajpe Vyavasaya Seva Sahakari Bank Niyamitha, Mangalore vs. The Income Tax Officer Ward-2(4), Mangalore

In the result, both the appeals filed by the assessee are treated as allowed for statistical purposes

Bench: Shri N.V.Vasudevan, Vp & Shri B.R.Baskaran, Am

…rary parking of own surplus funds not immediately required is eligible for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon’ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn). 6. We have carefully gone through the judgment relied by the learned DR. The facts of the case before the Hon’ble Karnataka High Court in the decision cited by the learned DR was that the Hon’ble Court was considering a case relating to Assessment Years 2007-08 to 2011-12. In case decided by the Hon’ble Supreme Court in the case of the ve…

M/S Herga Vyavasaya Seva Sahakari Sangha, Udupi vs. Income Tax Officer Ward-3, Udupi

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

Bench: Shri N.V. Vasudevanassessment Year : 2014-15

…rary parking of own surplus funds not immediately required is eligible for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon’ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn.). 5. I have carefully gone through the judgment relied by the learned DR. The facts of the case before the Hon’ble Karnataka High Court in the decision cited by the learned DR was that the Hon’ble Court was considering a case relating to Assessment Years 2007-08 to 2011-12. In case decided by the Hon’ble Supreme Court in the case of the v…

National Aeronautical Laboratory Employees Co-Operative Housing Society Limited, Bangalore vs. Income Tax Officer Ward-4(2)(2), Bangalore

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Arun Kumar Garodia

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER ITA Nos.3314 & 3315/Bang/2018 Assessment Years : 2014-15 & 2015-16 M/s. National Aeronautical Laboratory Employees Co- operative Housing Society The Income Tax Ltd., Officer, NAL Campus, vs. Ward 4 (2) (2), Old Airport Road, Bangalore. Kodihalli, Bangalore – 560 017. PAN: AACAN3679H APPELLANT RESPONDENT Appellant by : Smt. Suman Lunkar, CA Respondent by : Shri A. Ramesh Kumar, JCIT (DR) Date of hearing : 14.01.2019 Date of Pronouncement : 25.01.2019 O R D E R Per Shri A.K. Garodia, Accountant Mem…

National Aeronautical Laboratory Employees Co-Operative Housing Society Limited, Bangalore vs. Income Tax Officer Ward-4(2)(2), Bangalore

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Arun Kumar Garodia

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER ITA Nos.3314 & 3315/Bang/2018 Assessment Years : 2014-15 & 2015-16 M/s. National Aeronautical Laboratory Employees Co- operative Housing Society The Income Tax Ltd., Officer, NAL Campus, vs. Ward 4 (2) (2), Old Airport Road, Bangalore. Kodihalli, Bangalore – 560 017. PAN: AACAN3679H APPELLANT RESPONDENT Appellant by : Smt. Suman Lunkar, CA Respondent by : Shri A. Ramesh Kumar, JCIT (DR) Date of hearing : 14.01.2019 Date of Pronouncement : 25.01.2019 O R D E R Per Shri A.K. Garodia, Accountant Mem…

M/S Sri Basaveshwara Swamy Pattana Sahakara Sangha, Shivamogga vs. The Income Tax Officer Ward-1, Shivamogga

In the result, appeals by the assessee are treated as allowed for statistical purposes

Bench: Shri N.V. Vasudevan

…tely required is eligible ITA No. 2793 & 2794/Bang/2018 Page 3 of 5 for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon’ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn). 7. I have carefully gone through the judgment relied by the learned DR. The facts of the case before the Hon’ble Karnataka High Court in the decision cited by the learned DR was that the Hon’ble Court was considering a case relating to Assessment Years 2007-2008 to 2011- 2012. In case decided by the Hon’ble Supreme Court in the case of t…

M/S Sri Basaveshwara Swamy Pattana Sahakara Sangha, Shivamogga vs. The Income Tax Officer Ward-1, Shivamogga

In the result, appeals by the assessee are treated as allowed for statistical purposes

Bench: Shri N.V. Vasudevan

…tely required is eligible ITA No. 2793 & 2794/Bang/2018 Page 3 of 5 for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon’ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn). 7. I have carefully gone through the judgment relied by the learned DR. The facts of the case before the Hon’ble Karnataka High Court in the decision cited by the learned DR was that the Hon’ble Court was considering a case relating to Assessment Years 2007-2008 to 2011- 2012. In case decided by the Hon’ble Supreme Court in the case of t…

M/S Pavamana Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer Ward-5(2)(4), Bangalore

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

Bench: Shri Arun Kumar Garodiaassessment Year : 2015-16

…is whether the deduction is allowable in respect of interest from bank. He submitted that on this issue, although the judgment of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society Ltd. as reported in 395 ITR 611 (Karn) is against the assessee but another judgment of Hon'ble Karnataka High Court rendered in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. vs. ITO as reported in 230 Taxman 309 is in favour of the assessee and in the facts of present case, this judgment in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. vs. ITO (s…

Assistant Commissioner of Income Tax, Central Circle-2(3), Bangalore vs. M/S Vasavi Housing Co-Operative Society Ltd, Bangalore

In the result, appeal by the Revenue for Assessment Year 2014-15 is treated as allowed for statistical purposes

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2014-15 The Assistant Commissioner Of Vs. M/S. Vasavi Housing Income-Tax, Co-Operative Society Ltd., No.108/1, Sri Chakra, 2Nd Floor, Central Circle – 2(3), Bangalore. East Park Road, Opp. Vasavi Mahal, 8Th Cross, Malleshwaram, Bangalore – 560 003. Pan : Aabav 4661 L Appellant Respondent Assessee By : Smt. Sri Nandini Das, Addl. Cit : Revenue By Shri. Shreesh Kumar Eshwar Hegde, Ca Date Of Hearing : 26.11.2018 Date Of Pronouncement : 11.01.2019

…rary parking of own surplus funds not immediately required is eligible for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn.). 7. We have carefully perused the judgment relied by the learned DR. The facts of the case before the Hon'ble Karnataka High Court in the decision cited by the learned DR was that the Hon'ble Court was considering a case relating to Assessment Years 2007-2008 to 2011- 2012. In case decided by the Hon'ble Supreme Court in the case of the…