Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society

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.

Q: 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.

392 ITR 74High Court2017#67 most cited

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.

762

judgments rely on this decision, according to BharatTax’s citation analysis of 383,853 Indian tax judgments — from 2017 to 2026.

Also referred to as

Pr. CIT v. Totagars Cooperative Sale Society · 392 ITR 74 · Section 80P(2)(d) · Section 80P · cooperative society deduction · interest income cooperative bank · eligibility deduction · income of co-operative societies · cooperative bank interest · investment income

Sections most often in play

Section 80P(2)(d)Section 80P(4)Section 80P(2)(a)(i)Section 143(3)Section 2(19)Section 250 Section 80P Section 143(1)

Issues it is cited on

section 56(i)(ccv)section 80(2)(d)section 2(19)section 80(p)(2)(a)section 80p(4)section 80p(1)section 80p(2)(c)section 80(p)(2)(d)section 80p(2)(a)(iii)section 80p(2)(d)section 70 section 80p(2)

Judgments citing Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society

M/S Malnad Areca Marketing Co-Operative Society Limited, Shivamogga vs. Assistant Commissioner of Income Tax Circle-1, Shivamogga

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

ITA 256/BANG/2019[2013-14]Status: DisposedITAT Bangalore11 Dec 2020AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri S Krishnaswamy, C.AFor Respondent: Shri Kannan Narayan, JCIT (DR)

Section 57Section 80Section 80P(2)(a)Section 80P(2)(d)

…n 309, wherein decision by Hon’ble Supreme Court in case of Totgars Co-Coperative Sale Society Ltd., reported in 322 ITR 283 has been duly considered. We note that Hon’ble Karnataka High Court in case of Pr.CIT vs Totgars co-operative Sale Society reported in 392 ITR 74 confirmed the order of this Tribunal allowing deduction under section 80P(2)(d) of the Act on Page 4 of 5 ITA No.256 & 257/Bang/2019 interest received on investments made in co-operative bank. This decision was however not followed in the subsequent judgment in case of Pr.CIT vs Totgars Co-operative Sale society reported in 395 ITR 611. 13. We th…

The Income Tax Officer Ward-6(3)(2), Bangalore vs. M/S Ministry of Communication Employee Co-Operative Housing Society, Bangalore

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

ITA 2940/BANG/2018[2007-08]Status: DisposedITAT Bangalore11 Dec 2020AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2007 – 08

For Appellant: Shri Balaram R Rao, AdvocateFor Respondent: Shri Elamurugu, JCIT (DR)

Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 8O

…309, wherein decision by Hon’ble Supreme Court in case of Totgars Co-Cooperative Sale Society Ltd., reported in 322 ITR 283 has been duly considered. We note that Hon’ble Karnataka High Court in case of Pr.CIT vs Totgars co-operative Sale Society reported in 392 ITR 74 confirmed the order of this Tribunal allowing deduction under section 80P(2)(d) of the Act on Page 4 of 5 interest received on investments made in co-operative bank. This decision was however not followed in the subsequent judgment in case of Pr.CIT vs Totgars Co-operative Sale society reported in 395 ITR 611. 11. We therefore restore the issue ba…

M/S Palmera Co-Operative Housing Society Ltd., Mumbai vs. ACIT-19(2), Mumbai

In the result, appeal is allowed

ITA 1979/MUM/2019[2015-16]Status: DisposedITAT Mumbai25 Nov 2020AY 2015-16

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

…using Society Limited  Kaliandas Udyog Bhavan Premises Co-op Society Ltd. V ITO (ITANo. 547/Mum/2017 dated 25.4.2018)  ITO V.Shree Keshorai Patan Sahakari Sugar Mill (ITA Nos. 418&419/JP/2017 dated 31.1.2018)  Pr. CIT Vs. Totagars C-operative Sale Society (392 ITR 74 dated 5.1.2017)(Karnataka)  ITO Vs. Eternity Co-op Housing Society Ltd.(ITA No. 6159/M/2017 dated 15.5.2018) 8. Per contra, learned departmental representative relied upon the orders of the authorities below. Upon careful consideration we find that in the case of Ekta Milan Co-op. Housing Society Limited (supra) the ITAT has duly dealt with the…

M/S Raheja Excelsior Co-Operative Housing Society Ltd., Mumbai vs. ITO 19(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 3337/MUM/2019[2015-16]Status: DisposedITAT Mumbai24 Nov 2020AY 2015-16

Bench: Shri Vikas Awasthyआअसं. 3337/मुं/2019 ("न.व.2015-16) M/S. Raheja Excelsior Co-Operative Housing Society Ltd., C.S. No.1/404, Raheja Raheja Excelsior, Tardeo Div., 63, Tardeo Road, Tardeo, Mumbai 400 034. : अपीलाथ"/ Appellant Pan: Aabar9580J बनाम/ Vs.

For Appellant: NoneFor Respondent: Ms Kavita P. Kaushik

Section 143(3)Section 80PSection 80P(2)(d)

…e. The Tribunal in the case of Kaliandas Udyog Bhavan Premises Co-op Society Ltd. Vs. ITO, 94 taxmann.com 15 (Mumbai) after examining the provisions of section and the decision of Hon’ble Karnataka High Court in the case of Totagars Co-operative Sale Society, 392 ITR 74 held that interest income derived by a co-operative society from 3 investments with a co-operative bank, would be entitled for deduction under section 80P(2)(d) of the Act. The relevant extract of the order reads as under: - “7. We have deliberated at length on the issue under consideration and are unable to persuade ourselves to be in agreemen…

Danda Co- Op Credit Society Limited, Mumbai vs. ITO, Ward - 22(1)(2), Mumbai

In the result, appeal by the assessee is allowed

ITA 3240/MUM/2019[2012-13]Status: DisposedITAT Mumbai23 Nov 2020AY 2012-13

Bench: Shri Vikas Awasthyआअसं. 3240/मुं/2019 ("न.व.2012-13) Danda Co-Op Credit Society Ltd. 239, Valmiki, Khar Danda, Khar(West), Mumbai 400 052 : अपीलाथ"/ Appellant Pan: Aaaad3039M बनाम/ Vs. The Income Tax Officer – 22(1)(2) Mumbai 400 007 : ""थ"/ Respondent Assessee By : None Revenue By : Ms Kavita P. Kaushik

For Appellant: NoneFor Respondent: Ms Kavita P. Kaushik

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

…The 3 Tribunal in the case of Kaliandas Udyog Bhavan Premises Co-op Society Ltd. Vs. ITO, 94 taxmann.com 15 (Mumbai) after examining the provisions of section and the decision of Hon’ble Karnataka High Court in the case of Totagars Co-operative Sale Society, 392 ITR 74 held that interest income derived by a co-operative society from investments with a co-operative bank, would be entitled for deduction under section 80P(2)(d) of the Act. The relevant extract of the order reads as under: - “7. We have deliberated at length on the issue under consideration and are unable to persuade ourselves to be in agreement w…

Vijaya Pathina Souhardha Sahakari Niyamitha, Bangalore vs. Income Tax Officer, Ward- 3(2)(2), Bangalore

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

ITA 286/BANG/2020[2016-17]Status: DisposedITAT Bangalore19 Nov 2020AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016 – 17

For Appellant: Shri Sandeep C, C.AFor Respondent: Smt. R Premi, JCIT (DR)

Section 142(1)Section 143(2)Section 6Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)

…. In respect of interest income received from deposits made in nationalised/co-operative banks, Ld.AR submitted that the issue Page 5 of 10 needs to be considered afresh, as previous decision in case of Pr.CIT vs Totgars co-operative Sale Society reported in 392 ITR 74 by Hon’ble Karnataka High Court has not been followed in the subsequent decision relied by authorities below to deny assessee’s claim. 12. On the contrary, the Ld.Sr.DR placed reliance on orders passed by authorities below. 13. We have perused submissions advanced by both sides in light of records placed before us. 14. We note that, certificate…

Om Sudarshan Chs Ltd., Mumbai vs. ITO 17(1)(5), Mumbai

In the result, appeal of the assessee is allowed

ITA 1950/MUM/2019[2014-15]Status: DisposedITAT Mumbai29 Oct 2020AY 2014-15

Bench: Shri Vikas Awasthy, Jm & Shri Rajesh Kumar, Am आयकर अपील सं./ Ita No. 1950/Mum/2019 (यिर्ाारण िर्ा / Assessment Year 2014-15) Om Sudarshan Co-Operative The Income Tax Officer Housing Society Ltd. Ward 17(2)(5), Ground Floor, Om Sudarshan Chs बिाम/ Mumbai Ltd, L.D. Ruparel Marg, Malabar Vs. Hill, Mumbai-400 006 (अपीलाथी / Appellant) (प्रत्यथी/ Respondent) स्थायी लेखा सं./Pan No. Aao0489L अपीलाथी की ओर से/ Appellant By : None प्रत्यथी की ओर से/ Respondent By : Shri Vodal Raj Singh, Dr सुििाई की तारीख / Date Of Hearing: 15.10.2020 घोर्णा की तारीख / Date Of Pronouncement: 29.10.2020

For Appellant: NoneFor Respondent: Shri Vodal Raj Singh, DR

Section 143(3)Section 80P(2)(d)

…u/s.80P(2)(d) of the Act in respect of interest and dividend income earned by the assessee on such facts.” Om Sudarshan Co-operative Housing Society Ltd. ; AY 14-15 7. 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 cooperative bank should be considered as cooperative society. 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. 8. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars C…

M/S. Nagapura Credit Co-Operative Society, Bangalore vs. Income Tax Officer, Ward- 6(2)(2), Bangalore

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

ITA 2405/BANG/2019[2016-17]Status: DisposedITAT Bangalore31 Aug 2020AY 2016-17

Bench: Shri N V Vasudevan & Shri G Manjunathaassessment Year: 2016-17

For Appellant: Shri C. Ramesh, CAFor Respondent: Shri Priyadarshi Mishra, Jt.CIT(DR)(ITAT), Bengaluru

Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…ing the facts of the present case in the light of these two judgments after providing adequate opportunity of being heard to the assessee.” 11. We also find that the Hon’ble High Court of Karnataka in the case of Pr. CIT v. Totgars Co-operative Sales Society, 392 ITR 74 (Karn) confirmed the order of Tribunal allowing deduction u/s. 80P(2)(d) of the Act on interest received from investments made in co-operative bank. This decision was, however, not followed in a subsequent DB judgment in the case of Pr. CIT v. Totgars Co-operative Sales Society, 395 ITR 611 [Karn]. In the later decision, the Hon’ble High Court hel…

ITO 24 (3)(1), Mumbai vs. M/S Oberoi Spring Co-Operative Housing Society Limited, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 786/MUM/2019[2015-16]Status: DisposedITAT Mumbai28 Aug 2020AY 2015-16

For Appellant: Shri Vijay Mehta/Anuj KisnadwalaFor Respondent: Shri Amit P. Singh (DR)

Section 143(2)Section 80Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI M. BALAGANESH, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.786/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) ITO 24(3)(1) बिधम/ M/s. Oberoi Spring Co- R. No.415, 4th Floor Piramal, operative Housing Society Vs. Chambers, Lalbaug, Parel, Ltd. Mumbai-400012. Near Monginish Cake Factory 14, Oshiwala Link Road Oshiwara Andheri (W), Mumbai-400053. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAAA02236K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Amit P. Singh (DR) Assessee by: Shri Vijay Mehta/Anuj Kisnadwala सुनवाई क…

Las Palmas Co-Operative Housing Soc. Ltd., Mumbai vs. ITO Ward 19(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1810/MUM/2019[2015-16]Status: DisposedITAT Mumbai27 May 2020AY 2015-16

Bench: Shri Pawan Singh & Shri Rajesh Kumarassessment Year: 2015-16

For Appellant: Shri H.P. Mahajani, A.RFor Respondent: Shri Michael Jerald, D.R

Section 80PSection 80P(2)(d)

…operative Housing Society Ltd. Vs. ITORange- 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 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 deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14,…

M/S.Varma Chamber Premises Co-Op. Society Limited, Mumbai vs. Income Tax Officer 17(3)(5), Mumbai

In the result, assessee’s appeal is allowed

ITA 6030/MUM/2018[2014-15]Status: DisposedITAT Mumbai16 Mar 2020AY 2014-15

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Section 2(10)Section 80P(2)(a)Section 80P(2)(d)

…s, and submitted that the issue is decided in favour of the assessee. 8. We note that learned Counsel of the assessee has referred to two decisions one from Hon'ble Karnataka High Court in the case of CIT Hubli Vs. The Totgars Co-operative Sale Society Ltd. (392 ITR 74) and Hon'ble Punjab & 3 M/s. Varma Chambers Premises Co-operative Society Limited Haryana High Court in the case of CIT Vs. Haryana State CHS Ltd. vide (I.T. Reference No. 103 of 1989 vide order dated 4.3.1998), wherein similar issue was decided in favour of the assessee. 9. We may gainfully referred to the decision of Hon'ble Karnataka High Cou…

Yuva Vikas Co-Op Credit Society Ltd, Mumbai vs. ITO 32 (3)(2), Mumbai

ITA 695/MUM/2019[2015-16]Status: DisposedITAT Mumbai04 Mar 2020AY 2015-16

Bench: Shri G. Manjunatha & Shri Ravish Soodyuva Vikas Co-Op Credit Society Ltd. Income Tax Officer -32(3)(2) 6/A, Windsor Building, Deshmukh Room No. 106, C-11, Residency, Borivali (East), Pratyasksha Kar Bhavan, Vs. Mumbai – 400066 Bandra Kurla Complex, Maharashtra- 400051

For Appellant: Shri Ravindra Naik, A.RFor Respondent: Shri V. Vinod Kumar, D.R

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

…ooperative Housing Society Ltd. Vs. ITO-Range-20(2)(2), Mumbai (ITA No. 6139/Mum/2014, dated 27.09.2017. Also, 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 of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by a co-operative society 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.…

DCIT, Circle-6, Jaipur vs. M/S. Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., Jaipur

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

ITA 1243/JPR/2019[2016-17]Status: DisposedITAT Jaipur28 Feb 2020AY 2016-17

For Appellant: Shri P. C. Parwal (CA)For Respondent: Shri B.K. Gupta (CIT)

Section 12ASection 56Section 80GSection 80PSection 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES ‘B’ JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 1178/JP/2019 fu/kZkj.k o"kZ@Assessment Year : 2016-17 cuke M/s Jaipur Zila Dugdh Utpadak DCIT, Vs. Sahakari Sangh Ltd., Jaipur Circle-06, Diary, Near Gandhi Nagar Jaipur Railway Station, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAAAJ0767G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No.1243/JP/2019 fu/kZkj.k o"kZ@Assessment Year : 20…

M/S. Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., Jaipur vs. DCIT, Circle-6, Jaipur

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

ITA 1178/JPR/2019[2016-17]Status: DisposedITAT Jaipur28 Feb 2020AY 2016-17

For Appellant: Shri P. C. Parwal (CA)For Respondent: Shri B.K. Gupta (CIT)

Section 12ASection 56Section 80GSection 80PSection 80P(2)(d)

Technopolis Premises Co-Op.Soc. Ltd., Mumbai vs. Pr. CIT- 25, Mumbai

ITA 6433/MUM/2019[2015-16]Status: DisposedITAT Mumbai08 Jan 2020AY 2015-16

Bench: Shri Rajesh Kumar & Shri Ravish Soodtechnopolis Premises Co-Operative Society Principal Commissioner Of Income Tax-25, Limited, Technopolis Knowledge Park, Room No. 241, 2Nd Floor, G-Block, Mahakali Caves Road, Chakala, Andheri(E), Kautilya Bhavan, Bandra Kurla Complex, Vs. Mumbai 400 093. Mumbai – 400 051

For Appellant: Shri K.Shivram, Sr. AdvocateFor Respondent: Shri R. Manjunatha, C.I.T., D.R

Section 115JSection 142(1)Section 143(3)Section 263Section 80Section 80PSection 80P(2)(D)Section 80P(2)(d)

…ooperative Housing Society Ltd. Vs. ITO-Range-20(2)(2), Mumbai (ITA No. 6139/Mum/2014, dated 27.09.2017. Also, 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 of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by a co-operative society on its investments held 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 Circula…

Vadasinor Pragati Samaj Co-Op.Credit Society Ltd., Mumbai vs. Pr. CIT -18, Mumbai

In the result, appeal of the assessee is allowed

ITA 2539/MUM/2019[2014-15]Status: DisposedITAT Mumbai13 Dec 2019AY 2014-15

Bench: Shri Pawan Singh & Shri S. Rifaur Rahmanm/S Vadasinor Pragati Samaj Principal Commissioner Of Co-Operative Credit Society Ltd. Income Tax – 18 45/49, 1St Floor, Babu Genu Road, Vs. Mumbai. Kalbadevi, Mumbai-400002. Pan: Aaaav6905G Appellant Respondent

For Appellant: Shri Sanjay S. Parikh (AR)For Respondent: Shri Sushil Kumar Poddar (CIT-DR)

Section 143(2)Section 143(3)Section 254(1)Section 263Section 80P(2)Section 80P(2)(d)Section 80P(4)

…cted in computing the total income. We have further noted in Kaliandas Udyog Bhavan Premises Co-op. Society Ltd.(supra) the decision was rendered by making reliance upon the decision of Hon’ble Karnataka in PCIT & Anr vs. Totagars Coperative Sale Society (392 ITR 74) and Hon’ble Gujarat High Court in SBI vs. CIT (389 ITR 578 (Guj.) also held that interest income earned by assessee on investment held that a Co-operative Bank would be eligible for claim of deduction under section 80P(2)(d). 13. Considering the aforesaid legal preposition, we are of the view that assessee is entitled for deduction on interest…

Solitaire Chs Ltd., Mumbai vs. C-10, 4Th Floor, Pratykshakar Bhavan, Bkc, Bandra(E), Mumbai

ITA 3155/MUM/2019[2014-15]Status: DisposedITAT Mumbai29 Nov 2019AY 2014-15

Bench: Shri S.Rifaur Rehman & Shri Ravish Soodm/S Solitaire Chs Ltd. Principal Commissioner Of Society Office, Solitaire Chs Ltd. Income-Tax -26 Hiranandani Gardens, Powai, C-10, 4Th Floor, Vs. Mumbai – 400 076 Pratyaksha Kar Bhavan, Bkc, Bandra (E) Mumbai – 400 051 Pan – Aagfs7920R (Appellant) (Respondent)

For Appellant: Shri Rajesh B. Shah, A.RFor Respondent: Shri T. Kipgen, CIT D.R

Section 143(3)Section 263Section 80Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 8O

…, 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.…

Shree Malgangadevi Sahakari Patpedhi Maryadit, Mumbai vs. Principle Commissioner of Income Tax 29, Mumbai

Accordingly, the grounds raised by the assessee is allowed

ITA 1074/MUM/2019[2014-15]Status: DisposedITAT Mumbai22 Nov 2019AY 2014-15

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 1074/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2014-15)

For Respondent: Shri Sushil Kumar Poddar

Section 142(1)Section 143(2)Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…operative Housing Society Ltd. Vs. ITORange-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 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 deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14,…

Rohit Chambers Premises Co Op Society Limited, Mumbai vs. Aayakar Bhawan, Mumbai

In the result, the appeal is allowed

ITA 5859/MUM/2018[2014-15]Status: DisposedITAT Mumbai25 Oct 2019AY 2014-15

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2014-15

For Appellant: Ms. Arati Vissanji, ARFor Respondent: Ms. Jyoti Laxmi Nayak, DR

Section 143(3)Section 80P(2)(d)

…. 2013-14 and the Tribunal vide order dated 19.03.2018 held as under: “7. I heard the parties and perused the record. I notice that the Hon'ble Karnataka High Court has initially taken the following view in the case of Totagars Co-operative Sale Society Ltd (392 ITR 74) "....the word "cooperative bank" is a word of limited extent, which merely demarcates and identifies a particular species of the genus Co-operative Societies. Cooperative society can be of different nature, and can be involved in different activities; the Cooperative society Bank is merely a variety of the Co- operative Societies. Thus the Co-ope…

Ansa Ab Industrial Premises Co-Operative Society Limited, Mumbai vs. Income Tax Officer Ward 26(1)(1), Mumbai

In the result assessee's appeal stands allowed

ITA 4630/MUM/2018[2012-13]Status: DisposedITAT Mumbai01 Oct 2019AY 2012-13

Bench: Shri Shamim Yahya (Am)

Section 80PSection 80P(2)(d)Section 80P(4)

…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 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 deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14,…