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 367,164 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

Wildernest Better Living & Maintenance Co-Operative Society Limited, Pune vs. Income Tax Officer, Ward 6(1), Pune

In the result, the appeal of the assessee is allowed

ITA 856/PUN/2025[2021-22]Status: DisposedITAT Pune23 May 2025AY 2021-22

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.856/Pun/2025 िनधा"रण वष" / Assessment Year: 2020-21 Wildernest Better Living V The Income Tax Officer, Maintenance Co-Operative S Ward-6(1), Pune. Society Limited, Plot No.58, 59 & 60, Woldernest Society, Khadakwasla, Taluka Haveli, Pune – 411024. Maharashtra. Pan: Appellant/ Assessee Respondent / Revenue Assessee By Shri Arpit Dnyandeo Dambhare & Shri Deepak Sasar – Ca’S Revenue By Shri Madhan Thirmanpalli – Addl.Cit(Dr) Date Of Hearing 15/05/2025 Date Of Pronouncement 23/05/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Directed Against The Order Of Ld.Addl./Joint Commissioner Of Income Tax(Appeal), Panaji Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2021-22 Dated

Section 139Section 139(1)Section 142Section 143(1)Section 143(3)Section 250Section 80PSection 80P(2)(d)

…he Act was disallowed. Aggrieved the assessee filed further appeal before the CIT(A). The CIT(A) confirmed the disallowance by placing reliance on the decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totgars Cooperative Sale Society (2017) 395 ITR 611 (Kar). The assessee is in appeal before the Tribunal against the order of the CIT(A). ………….. 6. Considering that the issue in assessee's case being identical ie denial of deduction under section 80P(2)(d) towards interest earned from deposits with Cooperative Banks, respectfully following the above ITA No.856/PUN/2025 [A] decision we hold that…

Stella Maris Co Operative Housing Society, Mumbai vs. Income Tax Officer Ward 22 3 6, Piramal Chamders Mumbai

In the result, ITA No.1962/MUM/2025 stands allowed, whereas

ITA 1963/MUM/2025[2016-17]Status: DisposedITAT Mumbai15 May 2025AY 2016-17

Bench: Shri Narender Kumar Choudhryassessment Year: 2012-13 & Assessment Year: 2016-17

For Appellant: Shri. Ajay Wadke, CAFor Respondent: Smt. Smitha V. Nair (CIT DR)
Section 143(1)Section 154Section 250Section 80P(2)(d)

…CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative 7 ITA No. 1962/Mum/2025 AY: 2012-13 & ITA No. 1963/Mum/2025 AY: 2016-17 Stella Maris Co-operative Housing Society Ltd. Sales Society, [2017] 395 ITR 611 (Karn.), wherein it was held that interest earned by the Assessee, a Co-operative Society, from surplus deposits kept with a Cooperative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, (2017) 392 ITR 74…

Stella Maris Co Operative Housing Society Ltd, Mumbai vs. Income Tax Officer 22 3 6, Piramal Chambers

In the result, ITA No.1962/MUM/2025 stands allowed, whereas

ITA 1962/MUM/2025[2012-13]Status: DisposedITAT Mumbai15 May 2025AY 2012-13

Bench: Shri Narender Kumar Choudhryassessment Year: 2012-13 & Assessment Year: 2016-17

For Appellant: Shri. Ajay Wadke, CAFor Respondent: Smt. Smitha V. Nair (CIT DR)
Section 143(1)Section 154Section 250Section 80P(2)(d)

…CIT(A) has placed reliance upon the decision of the Hon'ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative 7 ITA No. 1962/Mum/2025 AY: 2012-13 & ITA No. 1963/Mum/2025 AY: 2016-17 Stella Maris Co-operative Housing Society Ltd. Sales Society, [2017] 395 ITR 611 (Karn.), wherein it was held that interest earned by the Assessee, a Co-operative Society, from surplus deposits kept with a Cooperative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon'ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, (2017) 392 ITR 74…

Mulund Samata Co-Op Hsg Soc Ltd., Mumbai vs. ITO, Ward-41(2)(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 6432/MUM/2024[2021-22]Status: DisposedITAT Mumbai15 May 2025AY 2021-22

Bench: Shri Pawan Singh & Shri Girish Agrawalassessment Year: 2021-22

For Appellant: Shri Ashutosh Patare, AdvocateFor Respondent: Shri Nihar Ranjan Samal, Sr. DR
Section 143(1)Section 154Section 249Section 3Section 5Section 80P(2)(d)

…e 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 v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), 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. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where ther…

Samarth Surksha Rakshak Co-Op Credit Society Ltd, Sanpada vs. Income Tax Officer, Navi Mumbai

In the result, both the appeals of the assessee are allowed

ITA 5497/MUM/2024[2020-2021]Status: DisposedITAT Mumbai14 May 2025AY 2020-2021

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Shri Prashant Ghumare, AdvocateFor Respondent: Shri Nihar Ranjan Samal, Sr. DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(2)(i)

…e 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 v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), 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. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where ther…

Samarth Surksha Rakshak Co-Op Credit Society Ltd, Sanpada vs. Income Tax Officer, Navi Mumbai

In the result, both the appeals of the assessee are allowed

ITA 5496/MUM/2024[2018-19]Status: DisposedITAT Mumbai14 May 2025AY 2018-19

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Shri Prashant Ghumare, AdvocateFor Respondent: Shri Nihar Ranjan Samal, Sr. DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(2)(i)

…e 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 v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), 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. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where ther…

Income Tax Officer, Ward-8(3), Pune vs. M/S. Tata Motors Karmachari Sahakari Patpedhi Limited, Pune

In the result, appeal of the Revenue is dismissed

ITA 2529/PUN/2024[2017-18]Status: DisposedITAT Pune08 May 2025AY 2017-18

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2529/Pun/2024 िनधा"रण वष" / Assessment Year: 2017-18 The Income Tax Officer, V Tata Motors Karmachari Ward-8(3), Pune. S. Sahakari Patpedhi, H 5 3Rd Floor, C/O.Tata Motors, Pune City, Pune – 411018. Pan: Aabat7682B Appellant/ Revenue Respondent / Assessee Assessee By Shri Sanket Joshi – Ar Revenue By Shri Abhinay Kumbhar – Cit(Dr) Date Of Hearing 06/05/2025 Date Of Pronouncement 08/05/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue Against The Order Of Ld.Commssioner Of Income Tax(Appeal)[Nfac] Passed Under Section 250 Of The Act, Dated 04.10.2024 For The A.Y.2017-18. The Revenue Has Raised The Following Grounds Of Appeal : “1. On The Facts & Circumstances Of The Case & In Law, The Learned Cit(A) Has Erred In Deleting The Disallowance Made By The Assessing Officer Of The Deduction Of Rs. 6,18,57,845/- Claimed Under Section Bop Of The Income-Tax Act, 1961 Being Interest Earned From The Investments

Section 250Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…5. On the facts and circumstances of the case and in law, the learned CIT(A) erred in not giving due consideration to the decision of the Hon'ble Karnataka High Court in the case of Pr. Commissioner of Income Tax vs. Totagars Cooperative Sale Society (2017). (395 ITR 611 Kar 2017), wherein, based on the decision of the Hon'ble Apex Court in the case of Totgars Co-operative Sales Society Ltd. Vs. ITO, (SCC) (322 ITR 283) (2010), it was held that a co-operative society would not be eligible for deduction u/s 80P(2)(d) on the interest income earned by it on account of deposit of its surplus funds in a co-operative b…

The Bbr & Rdcc Bank Employees Co-Op Society Limited, Bangalore vs. Income Tax Officer, Ward-5(2)(1), Bangalore

In the result, all the four appeals are allowed for statistical purposes

ITA 131/BANG/2025[2018-19]Status: DisposedITAT Bangalore08 May 2025AY 2018-19

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…he Co-ordinate Bench held as under: “7. The Tribunal in the case of M/s. Krishnarajapet Taluk Agri Pro Coop Marketing Society Ltd., (supra) held 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 does not fall within any of the categories mentioned in section 80P(2)(a) of the Act. However, section 80P(2)(…

The Bbr & Rdcc Bank Employees Co-Op Society, Bangalore vs. Income Tax Officer, Ward-5(2)(1), Bangalore

In the result, all the four appeals are allowed for statistical purposes

ITA 130/BANG/2025[2017-18]Status: DisposedITAT Bangalore08 May 2025AY 2017-18

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…he Co-ordinate Bench held as under: “7. The Tribunal in the case of M/s. Krishnarajapet Taluk Agri Pro Coop Marketing Society Ltd., (supra) held 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 does not fall within any of the categories mentioned in section 80P(2)(a) of the Act. However, section 80P(2)(…

The Bbr & Rdcc Bank Employees Co-Op Society, Bangalore vs. Income Tax Officer, Ward-5(2)(1), Bangalore

In the result, all the four appeals are allowed for statistical purposes

ITA 129/BANG/2025[2017-18]Status: DisposedITAT Bangalore08 May 2025AY 2017-18

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…he Co-ordinate Bench held as under: “7. The Tribunal in the case of M/s. Krishnarajapet Taluk Agri Pro Coop Marketing Society Ltd., (supra) held 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 does not fall within any of the categories mentioned in section 80P(2)(a) of the Act. However, section 80P(2)(…

The Secondary Teachers Co-Operative Credit Society Limtied, Dharwad vs. Income Tax Officer, Ward-1(1), Hubli

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

ITA 2383/BANG/2024[2021-22]Status: DisposedITAT Bangalore05 May 2025AY 2021-22

Bench: Shri Waseem Ahmedassessment Year: 2021-22

For Appellant: Shri Atul Alur, AdvocateFor Respondent: Shri Ganesh R Gale, Standing Counsel for Dept
Section 57(2)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…l in the case of M/s Vasamba Cooperatives Society Ltd vs. CIT bearing ITA No. 453/Bang/2020. The Tribunal in the said case following the judgment of Hon’ble Karnataka High Court in case of Pr. CIT v.Totgars’ Co-operative Sale Society [2017] 83 taxmann.com 140/395 ITR 611 has held that the assessee is not entitled to deduction under section 80P(2)(d) nor under section 80P(2)(a)(i) with regard to the interest income earned from investments made with cooperative banks. 8. Being aggrieved by the order of the learned CIT(A), the assessee is in appeal before me. . Page 4 of 6 9. The learned AR of the assessee before…

Chitrakoot Co-Op Hsg. Society Limited, Mumbai vs. Income Tax Officer Ward 19(1)(1), Mumbai

In the result, the appeal filed by the Assessee stands allowed

ITA 1818/MUM/2025[2020-2021]Status: DisposedITAT Mumbai01 May 2025AY 2020-2021

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassessment Year: 2020-21

For Appellant: Shri Meet S. Dangarwala, Ld. A.RFor Respondent: Shri Kiran Unavekar, Ld. Sr. D.R
Section 143(1)Section 2(19)Section 250Section 80PSection 80P(1)Section 80P(2)(d)

…f deduction under Sec.80P(2)(d) of the Act.” 6 M/s. Chitrakoot Co-op Hsg. Society Limited 13. We find that the learned CIT(A) has placed reliance upon the decision of the Hon‟ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, [2017] 395 ITR 611 (Karn.), wherein it was held that interest earned by the Assessee, a Co- operative Society, from surplus deposits kept with a Cooperative Bank, was not eligible for deduction under section 80P(2)(d) of the Act. We find that in an earlier decision the Hon’ble Karnataka High Court in Pr.CIT v/s Totagars Co-operative Sales Society, [2017] 392 ITR 74…

ACIT., Circle-9(1), Hyderabad vs. Rangareddy Dist Judl Employee Mutually Aided Co Operative Society, Hyderabad

ITA 1269/HYD/2024[2018-19]Status: DisposedITAT Hyderabad30 Apr 2025AY 2018-19
Section 143(2)Section 143(3)Section 80PSection 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), 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 Co-operative Sale Society (2017) 392 ITR 74 (Karn) and Hon'ble High Court Page|6M/s Solitaire CH…

Pathare Prabhu Cooperative Housing Society Ltd, Mumbai vs. Income Tax Officer, Mumbai

In the result, appeal of the assessee is allowed

ITA 591/MUM/2025[2012-2013]Status: DisposedITAT Mumbai30 Apr 2025AY 2012-2013

Bench: Shri Pawan Singh & Shri Girish Agrawalassessment Year: 2012-13

For Appellant: Shri Prashant Chapekar, CAFor Respondent: Shri Nihar Ranjan Samal, Sr. DR
Section 143(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…e 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 v. Totagars co-operative Sale Society [2017] 83 taxmann.com 140/297 CTR 158/395 ITR 611 (Karnataka), 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. v. Siemens India Ltd. and Anr [1983] 36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where ther…

The Bank Employees Cooperative Credit Society, Kozhikode vs. ITO, Ward 1(3), Kozhikode

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

ITA 169/COCH/2025[2017-18]Status: DisposedITAT Cochin23 Apr 2025AY 2017-18

Bench: Shri Inturi Rama Rao

For Appellant: --- None ---For Respondent: Smt.Leena Lal, Senior AR
Section 143(3)Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member ITA No.169/Coch/2025 : Asst.Year 2017-2018 The Bank Employees Co- The Income Tax Officer operative Credit Society v. Ward 1(3) 11/45AKuriyal Lane Kozhikode. Kozhikode – 673 001. PAN : AABAT2177P. (Appellant) (Respondent) Appellant by : --- None --- Respondent by : Smt.Leena Lal, Senior AR Date of Date of Hearing : 13.03.2025 Pronouncement : 23.04.2025 O R D E R This appeal filed by the assessee is directed against the order of the National Faceless Assessment Centre / Commissioner of Income- tax (Appeals) [“C…

S D M College Co-Operative Stores Limited, Mangalore vs. Income Tax Officer, Ward-1, Puttur

In the result, the appeal of the assessee is partly allowed

ITA 1438/BANG/2024[2020-21]Status: DisposedITAT Bangalore21 Apr 2025AY 2020-21

Bench: Shri Waseem Ahmedassessment Year: 2020-21

For Appellant: Shri Mahesh R Uppin, AdvocateFor Respondent: Shri Ganesh R Gale, Standing Counsel for Dept
Section 143(1)Section 154Section 57Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)Section 80P(2)(i)

…s also not eligible for deduction under section 80P(2)(d) of the Act. The learned CIT(A) in holding so made reference to various case laws including the judgment of Hon’ble Karnataka High Court in the case of M/s Totagars Cooperative sales society reported in 395 ITR 611 and judgment of Hon’ble Gujarat High Court in the case of SBI vs. CIT reported in 389 ITR 578. 8. Being aggrieved by the order of the learned CIT(A), the assessee is in appeal before the Tribunal. 9. The learned AR before me submitted that the interest on the deposits from co-operative society is eligible for deduction. Similarly, the interest e…

Mallappally Service Co-Operative Bank Ltd No. A 155, Pathanamthitta vs. ITO, Ward-1 & Tps, Pathanamthitta

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

ITA 816/COCH/2024[2018-19]Status: DisposedITAT Cochin09 Apr 2025AY 2018-19

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am

For Appellant: Ms. Pooja V., AdvocateFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 63Section 64Section 80PSection 80P(2)(d)Section 80P(2)(i)

…DR vehemently argued that such interest income could have hardly be held even derived from assessee’s regular credit facilities made available to the members concerned. He further relied on PCIT & Anr. v. Totagars Co-operative Sales Society reported in (2017) 395 ITR 611 (Kar.) and submitted that the impugned disallowance has been rightly made in assessee’s hand. 3 Mallappally Service Co-op. Bank Ltd. 7. We have heard rival contentions and perused the material available on record. The issue in the present appeal is with regard to eligibility to claim deduction u/s. 80P(2)(i)(a) of the Act in respect of interest…

Mahe Service Co-Operative Credit Society Ltd, Kozhikode vs. ITO, Ward-1 & Tps, Kannur

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

ITA 1062/COCH/2024[2022-23]Status: DisposedITAT Cochin09 Apr 2025AY 2022-23

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.Arun Raj S, AdvocateFor Respondent: Smt.Leena Lal, Sr.AR
Section 143(3)Section 250Section 56Section 80Section 80PSection 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George George K, Vice-President & Shri Inturi Rama Rao, Accountant Member ITA No.1062/Coch/2024 :Asst.Year 2022-2023 Mahe Service Co-operative The Income Tax Officer Credit Society Limited v. Ward 1 & TPS Mahe, Kozhikode – 673310. Kannur. PAN : AADAM7934K. (Appellant) (Respondent) Appellant by : Sri.Arun Raj S, Advocate Respondent by : Smt.Leena Lal, Sr.AR Date of Date of Hearing :09.04.2025 Pronouncement : 09.04.2025 O R D E R Per George George K, Vice-President : This appeal at the instance of assessee is directed against National Faceless A…

Mylapra Service Co Operative Bank Ltd, Pathanamthitta vs. Income Tax Officer, Ward 5, Thiruvalla

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

ITA 1021/COCH/2024[2016-2017]Status: DisposedITAT Cochin08 Apr 2025AY 2016-2017

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: --- None ---For Respondent: Smt.Leena Lal, Sr.AR
Section 250Section 80PSection 80P(2)(d)

…on the judgment of the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors. v. CIT & Anr. (2021) 431 ITR 1 (SC) and Hon’ble Karnataka High Court in the case Pr.CIT & Anr. v. Totagars Co-operative Sale Society reported in (2017) 395 ITR 611 (Kar.). 7. The issue whether the interest income earned by the co-operative society from the co-operative banks qualifies for deduction is now settled by the decision of the Hon’ble jurisdictional High Court in the case of PCIT v. Peroorkada Service Co-operative Bank Ltd. 442 ITR 141 (Ker.). In the light of this, we hold that the appellant is en…

Nagini Cooperative Credit Society Limited, Bangalore vs. Income Tax Officer, Ward-6(2)(1), Bangalore

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

ITA 27/BANG/2025[2020-21]Status: DisposedITAT Bangalore08 Apr 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

For Appellant: Shri Gireesha T L, CAFor Respondent: Shri Subramanian .S, JCIT-DR
Section 20Section 57Section 58Section 80P(2)(a)

…Supreme Court in the case of Totagars Co-operative Sales Society vs. ITO reported in (2010) 188 taxmann 282(SC) and the subsequent judgment of the Hon’ble Karnataka High Court in case of PCIT, Hubballi vs. The Totagars Co-operative Society reported in (2017) 395 ITR 611 and denied the deduction claimed by the assessee u/s. 80P(2)(a)(i) of the Act. Even before the Ld.CIT(A), the assessee in the statement of facts had submitted that they have to mandatorily deposit the surplus funds in the co-operative banks and therefore the interest income received from the said deposits are nothing but out of compulsion and the…