Which sections of the Income Tax Act does Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(4), Section 80P(2)(a)(i), Section 143(3), Section 2(19), Section 250.

Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society (392 ITR 74)

Q: What is Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society authority for?

Interest income earned by a cooperative society from its investments or surplus deposits with a cooperative bank is eligible for deduction under Section 80P(2)(d) of the Income-tax Act, 1961.

Q: How many judgments cite Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society?

762 judgments on BharatTax cite Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society (392 ITR 74), spanning 2017 to 2026.

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)

…perative Housing Society Ltd. Vs. ITO- Range-20(2)(2), Mumbai (ITA No. 6139/Mum/2014, dated 27.09.2017. We further 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 4 Ocean Gold Cooperative Housing Society Ltd. Kaliandas Udyog Bhavan Premises Co-op Society Ltd. vs. ITO - A.Y. 2014- 15 10 ITA No.6547/MUM/2017 case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a c…

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)

…perative Housing Society Ltd. Vs. ITO- Range-20(2)(2), Mumbai (ITA No. 6139/Mum/2014, dated 27.09.2017. We further 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 4 Ocean Gold Cooperative Housing Society Ltd. Kaliandas Udyog Bhavan Premises Co-op Society Ltd. vs. ITO - A.Y. 2014- 15 10 ITA No.6547/MUM/2017 case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a c…

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)

…, Mumbai (ITA No. 6139/Mum/2014, dated 27.09.2017. 4 Shri Ganesh Krupa Cooperative Housing Society Ltd. We further 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 Kaliandas Udyog Bhavan Premises Co-op Society Ltd. vs. ITO - A.Y. 2014- 15 10 ITA No.6547/MUM/2017 case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a co-operative bank would be eligible for claim o…

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)

…erative Housing Society Ltd. Vs. ITO- Range-20(2)(2), Mumbai (ITA No. 6139/Mum/2014 dated 27.09.2017. We further 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 Kaliandas Udyog Bhavan Premises Co-op Society Ltd. vs. ITO - A.Y. 2014-15 10 ITA No.6547/MUM/2017 case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a co-operative bank would be eligible for claim of…

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)

…erative Housing Society Ltd. Vs. ITO- Range-20(2)(2), Mumbai (ITA No. 6139/Mum/2014 dated 27.09.2017. We further 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 Kaliandas Udyog Bhavan Premises Co-op Society Ltd. vs. ITO - A.Y. 2014-15 10 ITA No.6547/MUM/2017 case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a co-operative bank would be eligible for claim of…

Mr. Deepak Vishnu Raut- General Manager Shri Murli Manohar Nagari Sahakari Patasanth Maryadit, Mahad vs. Principal Commissioner of Income Tax-PCIT-1, Thane

In the result, the appeal of the assessee is allowed

ITA 1260/MUM/2022[2017-18]Status: DisposedITAT Mumbai23 Aug 2022AY 2017-18

Bench: Us:-

Section 133(6)Section 142(1)Section 143(3)Section 263Section 80P

…Society. 5. The PCIT while passing the orders has wrongly relied on the Hon'ble Supreme Court decision in the case of Totgar Co-op. Sales Society Ltd. and latest Hon'ble Karnataka High Court decision in the case of PCIT, Hubli v/s. Totgar Co-op. Sales Society 392 ITR 74 (ITA No-100069/2016) as the Appellant Society has not made investment of idle funds. 6. The order of revision has been passed in violation of the principles of natural justice as the order has been passed without giving adequate opportunity of being heard and thus order passed by the PCIT is required to be set aside on the facts and circumstances…

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)

…the allowability of deduction u/s 80P. The Assessing Officer shall, accordingly, re-frame the assessment in the assessee's case in due compliance with the above directions.” 4. Mr. Meena further quoted PCIT vs. The Totagars Co- operative Sale Society (2017) 392 ITR 74 (Kar) that such an interest income deserves to be treated as „income from other sources‟ than under regular head of business u/s 80P of the Act. 5. We have given our thoughtful consideration to the Revenue‟s foregoing arguments supporting the learned PCIT‟s revision directions and find no merit therein as this tribunal‟s recent co- ordinate bench…

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “SMC-C”, BANGALORE Before Shri Chandra Poojari, Accountant Member ITA No.566/Bang/2022 : Asst.Year 2017-2018 Sri Mahishasuramardini Urban The Income Tax Officer Co-operative Credit Society Ltd. Ward 1 v. Haveri. Dru Joshi Building Krubageri Road, Ranebennur Haveri – 581 115. PAN : AABAS1467R. (Appellant) (Respondent) Appellant by : Sri.Vishal S Rao, CA Respondent by : Sri.Ganesh R.Ghale, Standing Counsel Date of Pronouncement : 16.08.2022 Date of Hearing : 16.08.2022 O R D E R This appeal filed by the assessee is directed against the order of the CIT(A) dat…

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)

…dated 27.09.2017. (iv). Kaliandas Udyog Bhavan Pemises Co-op. Society Ltd. Vs. ITO, 21(2)(1), Mumbai. We further 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 of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had held, that the interest income earned by the assessee on its investments with a co-operative bank would be eligible for claim of deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14, dated 28.…

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)

…M/2022 by Hon'ble Non Jurisdictional High Courts on the issue of allowability of deduction u/s. 80(P) in respect interest income earned from Co-operative Banks. 8. The Hon'ble Karnataka High court in the case of PCIT vs. Totagars, Co- operative Sale Society 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act, co-operative bank should be considered as cooperative society hence, interest income from Co-operative Bank is eligible for deduction u/s.80P of the Act. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134.…