Rena Sahakari Sakhar Karkhana Ltd. v. Pr. CIT

138 Taxmann.com 532Income Tax Appellate Tribunal2022#6523 most cited

What is Rena Sahakari Sakhar Karkhana Ltd. v. Pr. CIT authority for?

Interest earned on investments held with cooperative banks is eligible for deduction under section 80P(2)(d) of the Act. An assessment order allowing such deduction is neither erroneous nor prejudicial to the interest of revenue.

17

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2022 to 2026.

Also referred to as

Rena Sahakari Sakhar Karkhana Ltd. v. Pr. CIT · section 80P(2)(d) · deduction on interest on investments · cooperative banks · assessment order · revision u/s 263 · erroneous · prejudicial to revenue

Sections most often in play

Section 143(3)Section 144BSection 80P(2)(d)Section 56Section 80PSection 194A(3)(v)Section 2(19)Section 263

Issues it is cited on

section 56(i)(ccv)section 80p(2)(i)section 80(p)(2)(d)section 194a(3)(v)assessment order erroneoussection 2(19)section 80p(1)section 80p(4)section 80p(2)(a)section 80p(2)(d)lack of enquirysection 80p(2)(a)(i)

Judgments citing Rena Sahakari Sakhar Karkhana Ltd. v. Pr. CIT

Ministry of Communications Employees Co-Operative Housing Society Limited, Bangalore vs. Pr. Commissioner of Income Tax, Bengaluru-1, Bengaluru

In the result, the appeal of the assessee is hereby dismissed

ITA 1120/BANG/2025[2020-21]Status: DisposedITAT Bangalore28 Jan 2026AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2020-21

For Appellant: Shri Aprameya, AdvocateFor Respondent: Shri Subramanian, JCIT
Section 143(3)Section 144BSection 263Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment Year: 2020-21 M/s Ministry of Communications Vs. The Pr. Commissioner of Employees Cooperative Housing Society Income Tax , Ltd., 419, 1st Floor, 12th Cross, Bengaluru-1, Sadashivanagar, Bengaluru. Bengaluru – 560 080. PAN – AAAAM 0353 M APPELLANT RESPONDENT Assessee by : Shri Aprameya, Advocate Revenue by : Shri Subramanian, JCIT Date of hearing : 13.01.2026 Date of Pronouncement : 29.01.2026 O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The present appeal…

Shree Laxmi Nagari Sahakari Patsanstha Maryadit, Jalgaon vs. ITO, Ward 1(4), Jalgaon

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

ITA 1122/PUN/2025[2020-21]Status: DisposedITAT Pune23 Sept 2025AY 2020-21

Bench: Dr.Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Vinay KawadiaFor Respondent: Shri Amit Bobde
Section 143(2)Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “B”, PUNE BEFORE DR.MANISH BORAD, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1122/PUN/2025 Assessment Year : 2020-21 Shree Laxmi Nagari Sahakari Vs. Income Tax Officer, Patsanstha Maryadit, Ward-1(4), Jalgaon Khushalbhau Road, At Post. Faizpur, Tal. Yawal, Dist. Jalgaon – 425503 Maharashtra PAN : AAAJS2191L Appellant Respondent Appellant by : Shri Vinay Kawadia Respondent by : Shri Amit Bobde Date of hearing : 21.08.2025 Date of pronouncement : 23.09.2025 आदेश / ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : The capti…

Kptcl Empls Co-Op Cr. Soc, Belagavi vs. Principal Commissioner of Income Tax, Hubli

The appeal of the assessee stands ALLOWED

ITA 113/PAN/2025[2020-21]Status: DisposedITAT Panaji18 Aug 2025AY 2020-21

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Year : 2020-21 Kptcl Employee’S Credit Co-Operative Society, Ltd. 01, Opp. Jnmc College, Nehru Nagar, Belgavi-590010 Pan:Aagfk2092Q . . . . . . . Appellant

For Appellant: Mr Ashok Mudnur [‘Ld. AR’]For Respondent: Capt. Pradeep Arya [‘Ld. DR’]
Section 143(3)Section 263Section 56Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, GOA BEFORE HON’BLE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER AND SHRI G. D. PADMAHSHALI, ACCOUNTANT MEMBER Assessment Year : 2020-21 KPTCL Employee’s Credit Co-operative Society, Ltd. 01, Opp. JNMC College, Nehru Nagar, Belgavi-590010 PAN:AAGFK2092Q . . . . . . . Appellant V/s Principal Commissioner of Income Tax, Hubli. . . . . . . . Respondent Appearances Assessee by : Mr Ashok Mudnur [‘Ld. AR’] Revenue by : Capt. Pradeep Arya [‘Ld. DR’] Date of conclusive Hearing : 07/08/2025 Date of Pronouncement : 18/08/2025 ORDER PER G. D. PADMAHSHALI, AM; This captio…

The Dhanashree Multipurpose Co-Operative Society Limited, Belgaum vs. The Pr. Commissioner of Income Tax, Hubli

The appeal of the assessee stands ALLOWED

ITA 119/PAN/2025[2020-21]Status: DisposedITAT Panaji14 Aug 2025AY 2020-21

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Year : 2020-21 The Dhanashree Multipurpose Co-Operative Society, Ltd. 722/1, Angol Road, Vidya Nagar, Belgaum-590006 Pan:Aaaad0350R . . . . . . . Appellant

For Appellant: Mr Pramod Vaidya [‘Ld. AR’]For Respondent: Capt. Pradeep Arya [‘Ld. DR’]
Section 139Section 143(2)Section 143(3)Section 263Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE HON’BLE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER AND SHRI G. D. PADMAHSHALI, ACCOUNTANT MEMBER Assessment Year : 2020-21 The Dhanashree Multipurpose Co-operative Society, Ltd. 722/1, Angol Road, Vidya Nagar, Belgaum-590006 PAN:AAAAD0350R . . . . . . . Appellant V/s Principal Commissioner of Income Tax, Hubli. . . . . . . . Respondent Appearances Assessee by : Mr Pramod Vaidya [‘Ld. AR’] Revenue by : Capt. Pradeep Arya [‘Ld. DR’] Date of conclusive Hearing : 11/08/2025 Date of Pronouncement : 14/08/2025 ORDER PER G. D. PADMAHSHALI, AM; The pre…

The DCIT, Cir-3(2) Gangtok, Gangtok Sikkim vs. Sikkim State Cooperative Supply and Marketing Federation Limited, Gangtok Sikkim

ITA 1583/KOL/2024[2020-21]Status: DisposedITAT Kolkata18 Jun 2025AY 2020-21

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 250Section 80P

…आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री प्रदीप कुमार चौबे, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Deputy Commissioner of Income Sikkim State Cooperative Tax, Cir-3(2), Gangtok Supply and Marketing Vs. Federation Limited (Appellant) (Respondent) PAN: AADAS4451M Appearances: Department represented by : Sailen Samadder, Add. CIT, Sr. DR. Assessee represented by : A.…

Deputy Commissioner of Income Tax, Cir-3(2), Gangtok, Gangtok Sikkim vs. Sikkim State Cooperative Supply and Marketing Federation Limited, Gangtok Sikkim

ITA 1582/KOL/2024[2018-19]Status: DisposedITAT Kolkata18 Jun 2025AY 2018-19

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 250Section 80P

…आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री प्रदीप कुमार चौबे, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Deputy Commissioner of Income Sikkim State Cooperative Tax, Cir-3(2), Gangtok Supply and Marketing Vs. Federation Limited (Appellant) (Respondent) PAN: AADAS4451M Appearances: Department represented by : Sailen Samadder, Add. CIT, Sr. DR. Assessee represented by : A.…

Aided Primary Teachers Co-Operative Society Ltd, Kottayam vs. The Itoward-1, Kottayam

In the result, appeal of the assessee is allowed

ITA 244/COCH/2023[2018-19]Status: DisposedITAT Cochin04 Jul 2024AY 2018-19

Bench: Shri Chandra Poojari & Shri Soundararajan K.Assessment Year: 2018-19

For Appellant: Sri Josekutty Jacob, A.RFor Respondent: Sri Ilaiyaraja K.S, Sr. D.R
Section 2(19)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…r aspect of the matter is that even if the interest income is considered as ‘income from other sources’, the same would be eligible for deduction u/s 80P(2)(d) as per the decision of Pune Tribunal in the case of Rena Sahakari Sakhar Karkhana Ltd. vs. Pr. CIT (138 Taxmann.com 532). The bench, after considering contrary decisions of various High Courts, held as under: - 8. After necessary deliberations, we are unable to persuade ourselves to concur with the view taken by the Pr.CIT. Before proceeding any further, we may herein cull out the relevant extract of the aforesaid statutory provision, viz. sec. 80P(2)(d),…

Saurashtra Jain Mutually Aided Co-Operative Society, Hyderabad vs. Income Tax Officer, Ward- 5(1), Hyderabad

In the result, appeal filed by the assessee is allowed

ITA 609/HYD/2024[2017-2018]Status: DisposedITAT Hyderabad26 Jun 2024AY 2017-2018

Bench: Shri Manjunatha, G.आ.अपी.सं /Ita No.609/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2017-18) The Saurashtra Jain Vs. Income Tax Officer Mutually Aided Ward 5(2) Cooperative Credit Society Hyderabad Ltd, Hyderabad Pan:Aayfs9752K (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Adv. Syed Jameeluddin रधजस् व द्वधरध/Revenue By:: Smt. P. Sumitha, Dr सुिवधई की तधरीख/Date Of Hearing: 26/06/2024 घोर्णध की तधरीख/Pronouncement: 26/06/2024 आदेश/Order

For Appellant: Adv. Syed JameeluddinFor Respondent: : Smt. P. Sumitha, DR
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…hat interest and dividend income earned by cooperative society from its investment from another cooperative society qualifies for deduction and thus, by following the decision of the ITAT Pune Benches, in the case of Rena Sahakari Kharkhana Ltd vs. CIT (2022) 138 Taxmann.com 532 (Pune Trib.) held that the interest earned on deposit from different cooperative banks falling under the head “other sources” is eligible for deduction u/s 80P(2)(d) of the I.T. Act, 1961. It was further held that since the appellant has Page 2 of 6 ITA 609 of 2024 Saurashtra Jain Mutually Aided Coop Society filed return of income and t…

The Mullanpur Garibdas Co-Op Multipurpose Society, Mohali vs. DCIT, C-6(1), Mohali

ITA 645/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh16 May 2024AY 2012-13

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Garima Singh, CIT, DR
Section 263Section 56Section 80PSection 80P(2)(d)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’ CHANDIGARH BEFORE: SHRI A.D.JAIN, VICE PRESIDENT AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 515/CHD/2017 & "नधा"रण वष" / A.Y. : 2012-13, 2013-14 The Mullanpur Garibdas Co-operative The PCIT-II, बनाम Multipurpose Society, Mullanpur, Chandigarh. VS Tehsil – Kharar (Mohali). "थायी लेखा सं./PAN /TAN No: AACAT9961G अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue by : Smt. Garima Singh, CIT, DR आयकर अपील सं./ ITA No.…

The Mullanpur Garibdas Co-Op Multipurpose Society, Mullanpur vs. Pr. CIT-II, Chandigarh

ITA 569/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh16 May 2024AY 2013-14

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Garima Singh, CIT, DR
Section 263Section 56Section 80PSection 80P(2)(d)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’ CHANDIGARH BEFORE: SHRI A.D.JAIN, VICE PRESIDENT AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 515/CHD/2017 & "नधा"रण वष" / A.Y. : 2012-13, 2013-14 The Mullanpur Garibdas Co-operative The PCIT-II, बनाम Multipurpose Society, Mullanpur, Chandigarh. VS Tehsil – Kharar (Mohali). "थायी लेखा सं./PAN /TAN No: AACAT9961G अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue by : Smt. Garima Singh, CIT, DR आयकर अपील सं./ ITA No.…

The Mullanpur Garibdas Co-Op Multipurpose Society, Mohali vs. Pr. CIT-II, Chandigarh

ITA 515/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh16 May 2024AY 2012-13

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Garima Singh, CIT, DR
Section 263Section 56Section 80PSection 80P(2)(d)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’ CHANDIGARH BEFORE: SHRI A.D.JAIN, VICE PRESIDENT AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 515/CHD/2017 & "नधा"रण वष" / A.Y. : 2012-13, 2013-14 The Mullanpur Garibdas Co-operative The PCIT-II, बनाम Multipurpose Society, Mullanpur, Chandigarh. VS Tehsil – Kharar (Mohali). "थायी लेखा सं./PAN /TAN No: AACAT9961G अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue by : Smt. Garima Singh, CIT, DR आयकर अपील सं./ ITA No.…

The Jagadhri Co-Operative Marketing Cum Processing Society Ltd., Jagadhri vs. The Pr.CIT, Panchkula

In the result, the appeal of the assessee is allowed

ITA 210/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh12 Jan 2024AY 2018-19

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Tejmohan Singh, AdvocateFor Respondent: Smt. Kusum, CIT, DR
Section 139(1)Section 143(3)Section 263Section 80Section 80PSection 80P(2)(d)

…m its investment with any other cooperative banks as eligible for deduction under section 80P(2)(d) of the Act. In this regard, our reference was drawn to the findings of the ITAT Pune Benches in case of Rena Sahakari Sakhar Karkhana Ltd. Vs. PCIT reported in 138 Taxmann.com 532 and decision of ITAT Raipur Benches in case of Gramin Sewa Shakari Samiti Maryadit Vs. ITO reported in 138 Taxmann.com 476. 14. Per contra, the Ld. CIT/DR has relied on the findings of the Ld. Pr. CIT and we deem it appropriate to reproduce the said findings which read as under: “(ii) I have considered the facts of the case. It is true t…

Shri Keshoraipatan Sahkari Sugar Mills Limited, Kota vs. PCIT, Udaipur

In the result, appeal of the assessee is allowed

ITA 208/JPR/2022[2017-18]Status: DisposedITAT Jaipur20 Mar 2023AY 2017-18

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Mahendra Gargieya (Adv.) &For Respondent: Sh. James Kurian (CIT)
Section 142(1)Section 143(2)Section 143(3)Section 263Section 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 208/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2017-18 cuke Shri Keshoraipatan Sahkari Sugar PCIT, Vs. Mills Ltd., Kota Udaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACAS 5985 K vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Mahendra Gargieya (Adv.) & Sh. Devang Gargieya (Adv.) jktLo dh vksj ls@…

Aided Primary Teachers Co-Operative Society Ltd, Kottayam vs. The Itoward-1, Kottayam

The appeal stand allowed in terms of our above order

ITA 28/COCH/2022[2017-18]Status: DisposedITAT Cochin30 Nov 2022AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M & Hon’Ble Shri Manoj Kumar Aggarwal, A.M

For Appellant: NoneFor Respondent: Smt.J.M. Jamuna Devi (Addl.CIT) – Ld. DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अिधकरण, कोचीन पीठ, कोचीन म"। IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN माननीय %ी सतबीर िसंह गोदारा, -ाियक सद. एवं माननीय %ी मनोज कुमार अ3वाल ,लेखा सद. के सम6। BEFORE HON’BLE SHRI SATBEER SINGH GODARA, J.M AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, A.M आयकर अपील सं./ ITA No.28/Coch/2022 (िनधा@रण वष@ / Assessment Year: 2017-18) Aided Primary Teachers Co-operative ITO बनाम Society Ltd. Ward-1, K-334, Near Railway Station Kottayam. / Vs. Kottayam – 686 001. "थायी लेखा सं./जीआइ आर सं./PAN/GIR No. AADAA-6992-R (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओरसे/ Appellant by : None ""थ"…

Nmg Bank Employees Co-Op Credit Society, Kannur vs. The ITO, Kannur

The appeals stand allowed in terms of our above order

ITA 120/COCH/2021[2017-18]Status: DisposedITAT Cochin30 Nov 2022AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M & Hon’Ble Shri Manoj Kumar Aggarwal, A.M

For Appellant: NoneFor Respondent: Smt.J.M. Jamuna Devi (Addl.CIT) – Ld. DR
Section 143(3)Section 80PSection 80P(2)(d)

…ooperative societies are not at par with cooperative banks. Aggrieved, the assessee is in further appeal before us. 3. We find that this issue has been decided in assessee’s favor by Pune Tribunal in the case of Rena Sahakari Sakhar Karkhana Ltd. vs. Pr. CIT (138 Taxmann.com 532). The bench, after considering contrary decisions of various High Courts, held as under: - 8. After necessary deliberations, we are unable to persuade ourselves to concur with the view taken by the Pr.CIT. Before proceeding any further, we may herein cull out the relevant extract of the aforesaid statutory provision, viz. sec. 80P(2)(d),…

Nmg Bank Employees Co-Op Credit Society, Kannur vs. The ITO, Kannur

The appeals stand allowed in terms of our above order

ITA 119/COCH/2021[2016-17]Status: DisposedITAT Cochin30 Nov 2022AY 2016-17

Bench: Hon’Ble Shri Satbeer Singh Godara, J.M & Hon’Ble Shri Manoj Kumar Aggarwal, A.M

For Appellant: NoneFor Respondent: Smt.J.M. Jamuna Devi (Addl.CIT) – Ld. DR
Section 143(3)Section 80PSection 80P(2)(d)

…ooperative societies are not at par with cooperative banks. Aggrieved, the assessee is in further appeal before us. 3. We find that this issue has been decided in assessee’s favor by Pune Tribunal in the case of Rena Sahakari Sakhar Karkhana Ltd. vs. Pr. CIT (138 Taxmann.com 532). The bench, after considering contrary decisions of various High Courts, held as under: - 8. After necessary deliberations, we are unable to persuade ourselves to concur with the view taken by the Pr.CIT. Before proceeding any further, we may herein cull out the relevant extract of the aforesaid statutory provision, viz. sec. 80P(2)(d),…

The Ajmer Cooperative Thrift and Saving Society Limited Ajmer, Ajmer vs. CIT(A), NFAC, Ajmer

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

ITA 76/JPR/2022[2017-18]Status: DisposedITAT Jaipur30 Aug 2022AY 2017-18
For Appellant: Shri Sunil Porwal, (CA)For Respondent: Shri A.S. Nehra, (Addl. CIT)
Section 250Section 56Section 80PSection 80P(2)(a)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH ‘A’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa MkW- ehBk yky ehuk] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & DR. MITHA LAL MEENA, AM vk;dj vihy la-@ITA No. 76/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2017-18. cuke The Ajmer Cooperative Thrift The Commissioner of Income Vs. and Saving Society Ltd., Tax (Appeals), GLO Campus, DRM Office, NFAC, Traffic Accounts, W. Rly., Delhi. Ajmer. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AAEAT 2065 K vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by…

Rena Sahakari Sakhar Karkhana Ltd. v. Pr. CIT (138 Taxmann.com 532) — Cited in 17 Judgments | BharatTax