State Bank Of India v. CIT

389 ITR 578High Court2016#60 most cited

What is State Bank Of India v. CIT authority for?

Income arising from a cooperative society's surplus funds invested in short-term deposits and securities is not attributable to the society's core activities and, therefore, is not eligible for exemption under Section 80P(2)(a)(i) of the Income-tax Act.

817

judgments rely on this decision, according to BharatTax’s citation analysis of 366,421 Indian tax judgments — from 2017 to 2026.

Also referred to as

State Bank of India v CIT · Section 80P(2)(a)(i) · Section 80P(2)(d) · cooperative society · investment income · exemption · short-term deposits · securities · surplus funds · not business income

Also reported as

72 Taxmann.com 64241 Taxmann 163

Sections most often in play

Section 80P(2)(d)Section 80P(2)(a)(i)Section 143(3)Section 80P(4)Section 80PSection 263Section 250Section 2(19)

Issues it is cited on

section 80(2)(d)section 80(p)(2)(d)section 2(19)section 80p(4)section 194a(3)(v)section 80p(2)(c)section 80p(2)(a)(iii)section 80p(1)section 80p(2)(d)section 194a(3)section 80p(2)(a)(i)section 80p(2)

Judgments citing State Bank Of India v. CIT

Balaji Shrushti Chs Ltd, Panvel vs. ITO, Ward - 1, Panvel

In the result, the appeal filed by the assessee in ITA

ITA 524/PUN/2024[2021-22]Status: DisposedITAT Pune14 May 2024AY 2021-22

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.523 & 524/Pun/2024 िनधा"रण वष" / Assessment Years : 2020-21 & 2021-22 Balaji Shrushti Chs Ltd., Vs. Ito, Ward-1, Panvel. Ground Floor, Plot No.3, Sector 19, New Panvel Navi Mumbai- 410206. Pan : Aaaab8345G Appellant Respondent Assessee By : None Revenue By : Shri Manoj Tripathi Date Of Hearing : 29.04.2024 Date Of Pronouncement : 14.05.2024 आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Assessee Are Directed Against The Common Order Dated 19.02.2024 Passed By Ld Cit(A) Addl/Jcit (A), Prayagraj For The Assessment Years 2020-21 & 2021-22 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Assessee In Ita No.523/Pun/2024 For The Assessment Year 2020-21 Are Stated Herein.

For Appellant: NoneFor Respondent: Shri Manoj Tripathi
Section 143(1)Section 143(1)(a)Section 80PSection 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-section…

Balaji Shrushti Chs Ltd, New Panvel vs. ITO, Ward - 1, Panvel

In the result, the appeal filed by the assessee in ITA

ITA 523/PUN/2024[2020-21]Status: DisposedITAT Pune14 May 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.523 & 524/Pun/2024 िनधा"रण वष" / Assessment Years : 2020-21 & 2021-22 Balaji Shrushti Chs Ltd., Vs. Ito, Ward-1, Panvel. Ground Floor, Plot No.3, Sector 19, New Panvel Navi Mumbai- 410206. Pan : Aaaab8345G Appellant Respondent Assessee By : None Revenue By : Shri Manoj Tripathi Date Of Hearing : 29.04.2024 Date Of Pronouncement : 14.05.2024 आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Assessee Are Directed Against The Common Order Dated 19.02.2024 Passed By Ld Cit(A) Addl/Jcit (A), Prayagraj For The Assessment Years 2020-21 & 2021-22 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Assessee In Ita No.523/Pun/2024 For The Assessment Year 2020-21 Are Stated Herein.

For Appellant: NoneFor Respondent: Shri Manoj Tripathi
Section 143(1)Section 143(1)(a)Section 80PSection 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-section…

Vithal Court Apartments Chs Ltd, Mumbai vs. Assistant Director Income Tax, CPC, Bangaluru, Mumbai

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

ITA 4279/MUM/2023[2021-22]Status: DisposedITAT Mumbai14 May 2024AY 2021-22

Bench: Shri B.R. Baskaranassessment Year 2021-22 Vithal Court Apartments Chs Ltd. 151, August Kranti Marg, Kemps Corner, Mumbai – 400 036 Pan:Aaaav-3708-M - Appellant Vs. Adit, Cpc,Bangaluru Bangaluru. - Respondent Assessee By : Shri Sameer G. Dalal Revenue By : Shri Suni Mathew, Sr.Dr Date Of Hearing : 02/05/2024 Date Of Pronouncement : 14/05/2024 O R D E R

For Appellant: Shri Sameer G. DalalFor Respondent: Shri Suni Mathew, Sr.DR
Section 80PSection 80P(2)(d)

…e 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- 1510 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 deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14, dated 28.12.2006, as had been relied upon by the ld. A.R, also makes it clear beyond any scope of doub…

The Navyug Co-Operative Housing Society Ltd., Mumbai vs. DCIT 32(1), Mumbai

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

ITA 14/MUM/2024[2015-16]Status: DisposedITAT Mumbai10 May 2024AY 2015-16

Bench: Shir Pavan Kumar Gadale & Ms Padmavathy Sthe Navyug Co-Operative Vs. Dcit-32(1), Housing Society Ltd., Room.No.702, 7Th Flr, Jaihind Club Bldg, Jvpd Kautilya Bhavan, Scheme, 2Nd Floor, Bandra Kurla N.S. Road,Vile Parle (W), Complex, Mumbai-400049. Bandra(E), Mumbai-400051. Pan/Gir No. : Aaaat0325L Appellant .. Respondent Appellant By : Shri Shalin.S. Divatia.Ar Respondent By : Shri Laxmi Kant.Sr. Dr Date Of Hearing 09.05.2024 Date Of Pronouncement 10.05.2024 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Appeal Is Filed By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi/Cit (A) Passed U/Sec 154 & U/Sec 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal: The Navyug Co-Op Housing Society Ltd., Mumbai. 1. The Learned Commissioner Of Income Tax (Appeals) Erred In Confirming The Order Of The Assessing Officer Rejecting The Application Of The Assessee U/S 154 Seeking Rectification Of The Disallowance The Deduction U/S 80P(2) & 80P(2)(D) Of The Act Of Rs.60,93,180/- U/S 143 (1) Of The Act.

For Appellant: Shri Shalin.S. Divatia.ARFor Respondent: Shri Laxmi Kant.Sr. DR
Section 143Section 143(1)Section 154Section 80Section 80PSection 80P(2)Section 80P(2)(d)

…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 28.12.2006, also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-sectio…

Lake Town Co-Operative Housing Society Limited, Pune vs. Income Tax Officer, Ward-5(2), Pune

Appeal is partly allowed for

ITA 88/PUN/2024[2020-21]Status: DisposedITAT Pune07 May 2024AY 2020-21

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

For Appellant: Shri Hari KrishanFor Respondent: Shri Ramnath P Murkunde
Section 143(3)Section 56Section 80PSection 80P(2)(d)

…Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income 13 ITA.No.88/PUN./2024 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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-…

Income Tax Officer Ward-1, Satara vs. Shree Kalika Devi Nagari Sahakari Pat Sanstha Maryadit Karad, Karad Dist Satara

Appeal is dismissed in above terms

ITA 52/PUN/2024[2020-21]Status: DisposedITAT Pune07 May 2024AY 2020-21

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

For Appellant: -None-For Respondent: Shri Ramnath P. Murkunde
Section 143(3)Section 263Section 80P(2)(a)Section 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub- sectio…

Ceat Limited (Tyredivision) Empoyees Co Op Credit Soceity Limited, Nashik vs. Income Tax Officer, Nashik

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

ITA 633/PUN/2024[2015-16]Status: DisposedITAT Pune06 May 2024AY 2015-16

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.633/Pun/2024 "नधा"रण वष" Assessment Year : 2015-16

For Respondent: Shri Manoj Tripathi
Section 143(1)Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…. 80P(2)(a)(i) of the Act. The Hon’ble Punjab & Haryana High Court in the case of CIT vs. Punjab State Cooperative Federation of Housing Building Societies Ltd. 11 taxmann.com 448, the Hon’ble Gujarat High Court in the case of 4 State Bank of India Vs. CIT 389 ITR 578 (Guj.), the Hon’ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon’ble Kolkata High Court in the case of CIT Vs. Southern Eastern Empl…

Samarth Nagari Shakari Path Sanstha Maryadit, Parbhani vs. Income Tax Officer, Ward One, Jalna

Appeal is allowed in above terms

ITA 1414/PUN/2023[2020-21]Status: DisposedITAT Pune03 May 2024AY 2020-21

Bench: Shri Satbeer Singh Godara

For Appellant: -None-For Respondent: Shri Manish Mehta
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub- sectio…

Income Tax Officer, Mumbai vs. Nariman Bhavan Premises Co Op Society Ltd, Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 3658/MUM/2023[2020-21]Status: DisposedITAT Mumbai03 May 2024AY 2020-21

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy S

Section 194ASection 194A(3)(v)Section 80Section 80PSection 80P(2)(d)Section 80P(4)

…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 28.12.2006, also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-sectio…

Income Tax Officer Ward 5 Sangli, Income Tax Department vs. Ashokrao Anna Yashwant Gram Bigar Sheti Sah Patsanstha Limited, Borgaon, Tal Walwa, Sangli, Taluka Walwa

Appeal is dismissed in above terms

ITA 1138/PUN/2023[2018-19]Status: DisposedITAT Pune01 May 2024AY 2018-19

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: -None-For Respondent: Shri Ramnath P Murkunde
Section 143(3)Section 263Section 80P(2)(a)Section 80P(2)(d)

…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 10 ITA.No.1138/PUN./2023 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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind…

Gohana Co-Op Marketing Processing Society Ltd, Gohana vs. Income Tax Officer, Sonipat

In the result, the appeal of the assessee is dismissed

ITA 2698/DEL/2023[2018-19]Status: DisposedITAT Delhi30 Apr 2024AY 2018-19

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar[Assessment Year : 2018-19] Gohana Co-Op Marketing Vs Ito, Processing Society Ltd., Shop No.1, Sonipat. New Anaj Mandi, Gohana, Sonipat, Haryana-131301 Pan-Aaaag0108Q Appellant Respondent Appellant By None Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 24.04.2024 Date Of Pronouncement 30.04.2024 Order

Section 143(2)Section 56Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “SMC” BENCH: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER & Dr.B.R.R.KUMAR, ACCOUNTANT MEMBER [Assessment Year : 2018-19] Gohana Co-op Marketing vs ITO, Processing Society Ltd., Shop No.1, Sonipat. New Anaj Mandi, Gohana, Sonipat, Haryana-131301 PAN-AAAAG0108Q APPELLANT RESPONDENT Appellant by None Respondent by Shri Om Parkash, Sr.DR Date of Hearing 24.04.2024 Date of Pronouncement 30.04.2024 ORDER PER KUL BHARAT, JM : The present appeal filed by the assessee is directed against the order passed by Ld.CIT(A), National Faceless Appeal Centre (“NFAC”), Delhi dated…

Shree Gudaleshwar Gramin Bigar Sheti Sah Pat Sanshta Maryadit, Gudal, Radhanagari, Kolhapur vs. The Income Tax Officer, Ward 1 (1), Kolhapur

ITA 405/PUN/2024[A.Y.2018-19]Status: DisposedITAT Pune29 Apr 2024

Bench: Shri Satbeer Singh Godara

For Appellant: Shri A.S. NaikFor Respondent: Shri Manish Mehta
Section 143(3)Section 56Section 80P(2)(a)Section 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-section…

Siddhivinayak Nagrik Sahakari Pat Sanstha Maryadit, Nagpur vs. Income Tax Officer, Ward-5(3), Nagpur

ITA 149/NAG/2023[2017-18]Status: DisposedITAT Nagpur29 Apr 2024AY 2017-18

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: Shri Vishal Manakshe, C.AFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 56Section 80P(2)(a)Section 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-section…

Siddhivinayak Nagrik Sahakari Pat Sanstha Maryadit, Nagpur vs. Income Tax Officer, Ward-5(3), Nagpur

ITA 148/NAG/2023[2016-17]Status: DisposedITAT Nagpur29 Apr 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: Shri Vishal Manakshe, C.AFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 56Section 80P(2)(a)Section 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-section…

Siddhivinayak Nagrik Sahakari Pat Sanstha Maryadit, Nagpur vs. Income Tax Officer, Ward-5(3), Nagpur

ITA 147/NAG/2023[2015-16]Status: DisposedITAT Nagpur29 Apr 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: Shri Vishal Manakshe, C.AFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 56Section 80P(2)(a)Section 80P(2)(d)

…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 28.12.2006 also makes it clear beyond any scope of doubt that the purpose behind enactment of sub-section…

Assistant Commissioner of Income Tax-26(1), Mumbai, Bandra vs. Venkatesh Premises Co Operative Society Ltd, Mumbai

Appeal are dismissed

ITA 3302/MUM/2023[2014-15]Status: DisposedITAT Mumbai29 Apr 2024AY 2014-15

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Viraj MehtaFor Respondent: Ms. Rajeshwari Menon
Section 143(1)Section 143(3)Section 80P(2)Section 80P(2)(d)

…Court of Karnataka in the case of (Assessment Years: 2014-15 & 2017-18) 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, dated 28.12.2006, as had been relied upon by the ld. A.R, also makes it clear beyond any scope of doub…

Assistant Commissioner of Income Tax-26(1), Mumbai, Kautilya Bhawan, Bkc vs. Venkatesh Premises Co Operative Society Ltd, Mumbai

Appeal are dismissed

ITA 3301/MUM/2023[2017-18]Status: DisposedITAT Mumbai29 Apr 2024AY 2017-18

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Viraj MehtaFor Respondent: Ms. Rajeshwari Menon
Section 143(1)Section 143(3)Section 80P(2)Section 80P(2)(d)

…Court of Karnataka in the case of (Assessment Years: 2014-15 & 2017-18) 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, dated 28.12.2006, as had been relied upon by the ld. A.R, also makes it clear beyond any scope of doub…

Kundalika Nagari Sahakari Patsanstha Maryadit, Roha vs. ITO, Ward 1, Panvel

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

ITA 576/PUN/2024[2018-19]Status: DisposedITAT Pune25 Apr 2024AY 2018-19

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.576/Pun/2024 "नधा"रण वष" / Assessment Year : 2018-19

For Appellant: Shri Ajinkya M. Vaishampayan
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.576/PUN/2024 "नधा"रण वष" / Assessment Year : 2018-19 Kundalika Nagari Sahakari Vs. ITO, Ward-1, Patsanstha Maryadit, Panvel Ground Floor, Varun Apartment, Near Bhate Vachanalaya, Sonar Ali, Roha-402109 Maharashtra PAN : AACAK6478R Appellant Respondent Assessee by : Shri Ajinkya M. Vaishampayan : Shri Somnath M. Wajale Revenue by Date of hearing : 25.04.2024 Date of pronouncement : 25.04.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed ag…

Ruby Hall Clinic Karmchari Sahakari Pat Sanstha Maryadit, Pune vs. Income Tax Officer Ward 7(1), Pune

In the result, the appeal of the assessee is allowed

ITA 49/PUN/2024[2017-18]Status: DisposedITAT Pune25 Apr 2024AY 2017-18

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.49/Pun/2024 Assessment Year : 2017-18 Ruby Hall Clinic Karmchari Vs. Ito, Ward-7(1), Sahakari Patsanstha Maryadit, Pune 40, Sasoon Road, Pune Ho, Haveli, Pune- 411 001 Maharashtra Pan : Aaaar9852L Appellant Respondent

For Appellant: Shri Randeep Sharma &For Respondent: Shri A.K. Mahala
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…s. 80P(2)(a)(i) of the Act. The Hon’ble Punjab & Haryana High Court in the case of CIT vs. Punjab State Cooperative Federation of Housing Building Societies Ltd. 11 taxmann.com 448, the Hon’ble Gujarat High Court in the case of State Bank of India Vs. CIT 389 ITR 578 (Guj.), the Hon’ble Delhi High Court in the case of Mantola Co- operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon’ble Kolkata High Court in the case of CIT Vs. Southern Eastern Em…

Ruby Hall Clinic Karmchari Sahakari Pat Sanstha Maryadit, Pune vs. Income Tax Officer, Ward 7(1), Pune

In the result, the appeal of the assessee is allowed

ITA 32/PUN/2024[2020-21]Status: DisposedITAT Pune25 Apr 2024AY 2020-21

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.32/Pun/2024 Assessment Year : 2020-21 Ruby Hall Clinic Karmchari Vs. Ito, Ward-7(1), Sahakari Patsanstha Maryadit, Pune 40, Sasoon Road, Pune Ho, Haveli, Pune- 411 001 Maharashtra Pan : Aaaar9852L Appellant Respondent

For Appellant: Shri Randeep Sharma &For Respondent: Shri A.K. Mahala
Section 143(1)Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…s. 80P(2)(a)(i) of the Act. The Hon’ble Punjab & Haryana High Court in the case of CIT vs. Punjab State Cooperative Federation of Housing Building Societies Ltd. 11 taxmann.com 448, the Hon’ble Gujarat High Court in the case of State Bank of India Vs. CIT 389 ITR 578 (Guj.), the Hon’ble Delhi High Court in the case of Mantola Co- operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278, the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Punjab State Cooperative Agricultural Development Bank Ltd. 389 ITR 68 and the Hon’ble Kolkata High Court in the case of CIT Vs. Southern Eastern Em…