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.

How many judgments cite State Bank Of India v. CIT?

817 judgments on BharatTax cite State Bank Of India v. CIT (389 ITR 578), spanning 2017 to 2026.

Which sections of the Income Tax Act does State Bank Of India v. CIT come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(2)(a)(i), Section 143(3), Section 80P(4), Section 80P, Section 263.

State Bank Of India v. CIT (389 ITR 578)

Surendranagar District Co Op Producers Union Limited, Surendranagar vs. Assistant Commissioner of Income Tax, Surendranagar Circle

In the result, appeal filed by the assessee is allowed

ITA 429/RJT/2025[2014-15]Status: DisposedITAT Rajkot10 Feb 2026AY 2014-15

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 429/Rjt/2025 ("नधा"रणवष"/Assessment Year: (2014-15) Surendranagar District Co. Op. Acit, Circle, Producers Union Ltd. Vs. Surendranagar-363035 Plot No.249, Phase 2 Gidc Market Yard Circle, Sursagar Dairy, Wadhwan Road, Surendranagar-363035 (Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaas8375B (अपीलाथ"/Assessee) (""यथ"/Respondent) Assessee By : Shri Kalpesh Doshi, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : Heard On 09/10/2025, Refixed For Clarification On 03.11.2025 & Finally Heard On 02.02.2026 : 10/02/2026 Date Of Pronouncement Order Per, Dr. Arjun Lal Saini, A.M.:

For Appellant: Shri Kalpesh Doshi, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR

Section 142(1)Section 143(2)Section 143(3)Section 234ASection 250Section 271(1)(c)Section 80P(2)(b)Section 80P(2)(d)

…nsideration as these judgements never distinguished and never overruled by constituting a larger Bench by the Hon’ble Jurisdictional Gujarat High Court. 33. We also find that the Hon’ble jurisdictional High Court in the case of State Bank of India v. CIT 2016 389 ITR 578 (Guj. HC) has also held that any income by way of interest derived by a Co-operative society from its investment with any other Co-operative bank would be deductible u/s. 80P(2)(d) of the Act. 34. We also find that Hon’ble Gujarat High Court has recently modified the judgement delivered by it in Katlary Karayana (supra) on 26th April, 2024 by rem…

Income Tax Officer, Chennai vs. Railway Employees Cooperative Credit Society, Chennai

In the result, the both the appeals filed by the Revenue are dismissed

ITA 2096/CHNY/2025[2018]Status: DisposedITAT Chennai09 Feb 2026

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Ms. R. Anitha, Addl. CITFor Respondent: Shri. Vignesh Kumarasamy, Advocate

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

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मनु कुमार "ग"र, "या"यक सद"य एवं "ी एस. आर. रघुनाथा, लेखा सद"य के सम# BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.:2095 & 2096/Chny/2025 "नधा$रण वष$ / Assessment Years: 2017-18 & 2018-19 ITO, Railway Employees Co-operative Non-Corporate Ward – 6(1), vs. Credit Society Limited, Chennai. PB No.259/LB, Ashok Vihar Complex, Park Town, Parrys, Chennai. [PAN:AADAT-7303-F] (अपीलाथ&/Appellant) ('(यथ&/Respondent) अपीलाथ& क) ओर से/Appellant by : Ms. R.…

Income Tax Officer, Chennai vs. Railway Employees Cooperative Credit Society Limited, Chennai

In the result, the both the appeals filed by the Revenue are dismissed

ITA 2095/CHNY/2025[2017-18]Status: DisposedITAT Chennai09 Feb 2026AY 2017-18

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Ms. R. Anitha, Addl. CITFor Respondent: Shri. Vignesh Kumarasamy, Advocate

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

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मनु कुमार "ग"र, "या"यक सद"य एवं "ी एस. आर. रघुनाथा, लेखा सद"य के सम# BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.:2095 & 2096/Chny/2025 "नधा$रण वष$ / Assessment Years: 2017-18 & 2018-19 ITO, Railway Employees Co-operative Non-Corporate Ward – 6(1), vs. Credit Society Limited, Chennai. PB No.259/LB, Ashok Vihar Complex, Park Town, Parrys, Chennai. [PAN:AADAT-7303-F] (अपीलाथ&/Appellant) ('(यथ&/Respondent) अपीलाथ& क) ओर से/Appellant by : Ms. R.…

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)

…upreme Court in Totgars (2010), held that the same is inapplicable where deduction is claimed under section 80P(2)(d) of the Act. 6.6 The Ld. AR also relied upon the judgment of the Hon’ble Gujarat High Court in State Bank of India vs. CIT [2016] reported in 389 ITR 578 (Guj), wherein it was observed that though interest earned from surplus funds deposited with nationalized banks is not eligible for deduction under section 80P(2)(a)(i), but the assessee is entitled to deduction under section 80P(2)(d) if such surplus funds are deposited with a co- operative bank. 6.7 Further reliance was placed on the decision…

Shree Vegam Urban Co Op Credit Society Limited, Surat vs. ACIT, Circle-1(2), Surat

In the result, the appeal of the assessee is allowed

ITA 252/SRT/2025[2017-18]Status: HeardITAT Surat22 Jan 2026AY 2017-18

Bench: Dr. B.R.R. Kumar, Vice-Ms Suchitra Raghunath Kamble

For Appellant: Shri Shaunak K. Zaveri, CAFor Respondent: Ms Namita Patel, Sr. DR

Section 194ASection 194A(3)(v)Section 250Section 263Section 80PSection 80P(2)(d)Section 80P(4)

…Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. v Asstt. Commissioner of Income Tax [2022] 140 taxmann.com 602 (Guj.) as well as in case of State Bank Vishwa Infrastructure Vs. ITO Asst. Year : 2018-19 - 3– of India v Commissioner of Income Tax (2018) 389 ITR 578 (Guj.) wherein it was held that the deduction under section 80P(2)(d) is available to the cooperative societies on the income earned as interest on the investment made with the cooperative bank which in turn, is a cooperative society itself. [Para 28] Reliance placed by the revenue on decisions of the Karnataka High Court in Totgars’ Cooperative…

Everard Towers Cooperative Housing Society Limited, Everard Tower Chs Ltd vs. Ward 41(1)(2), Mumbai, Kautilya Bhavan

In the result, the grounds of appeal raised by assessee are allowed

ITA 7341/MUM/2025[2020-21]Status: DisposedITAT Mumbai21 Jan 2026AY 2020-21

Bench: Shri Pawan Singh(Physical Hearing) The Everard Tower Co-Operative Housing Ito,Ward-41(1)(2), Mumbai Society Limited Vs Kautilyabhavan, Bandrakurla B-1007, Everard Tower Chs Ltd. Complex, Bandra (East), Eastern Express Highway, Sion (East), Mumbai – 400051. Mumbai – 400022. [Pan No. Aaaae2800M] Appellant / Assessee Respondent / Revenue

Section 254(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…t in dispute. The assessing officer disallowed such interest income on the basis of decision of Karnataka High Court in PCIT vs Totgars Co-op Society in ITA No. 100064 to 100068 of 2016 dated 16.08.2017 and the decision of State Bank of India vs CIT (2016) 389 ITR 578 (Guj), CIT vs Punjab State Co-op Agricultural Development Bank Ltd. (2016) 389 ITR 607 (P&H) and the decision of Hon’ble Apex Court in Totgars Co-op Sale Society Ltd. vs ITO (2010) 322 ITR 283 (SC). The ld CIT(A) confirmed action of assessing officer. The ratio of such decision is not applicable on the facts of the present case. The said decisi…

The Brahmaling Multipurpose Co-Op Society Ltd, Belgaum vs. Income Tax Officer, Ward -3, Belgaum

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

ITA 254/PAN/2025[2017-18]Status: DisposedITAT Panaji22 Dec 2025AY 2017-18

Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)

Section 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…

Dy. Commissioner of Income Tax, Satara Circle, Satara vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Man, Satara

In the result, the appeal of the Revenue in ITA No

ITA 1801/PUN/2025[2020-21]Status: DisposedITAT Pune18 Dec 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.1800 & 1801/Pun/2025 निर्धारण वर्ष / Assessment Years : 2018-19 & 2020-21 Dy. Cit, Satara Circle, Satara अपीलार्थी / Appellant Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Vs. At Post-Dahiwadi, Tal.-Man Satara, Satara-415508 Pan: Aaoas0059G प्रत्यर्थी / Respondent Shri R.C. Doshi Shri S. Sadananda Singh 11-11-2025 18-12-2025 आदेश / Order Per Astha Chandra, Jm : These Two Appeals Filed By The Revenue Are Directed Against The Two Separate Orders Both Dated 19.05.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac"] Pertaining To Assessment Year (“Ay”) 2018-19 & 2020-21. Since The Issue(S) Involved Are Identical, These Were Heard Together & Are Being Disposed Of By This Common Order.

For Appellant: Department byFor Respondent: Date of hearing

Section 133(6)Section 143(3)Section 2(19)Section 80PSection 80P(2)(a)

…he case of the appellant for AY 2017-18, in ITA No. 180/PUN./2023 followed the view taken by the Hon'ble High Court of Kamataka in the case of Totagars Cooperative Sale Society (392 ITR 74) and Hon'ble High Court of Gujarat in the case of State Bank Of India (389 ITR 578), wherein it was observed that the interest income earned by a cooperative society on its investments held with a co-operative bank would be eligible for claim of deduction under section 80P(2)(d) of the Act. G. In this case, the appellant is itself a credit Co-operative Society registered under Maharashtra Co-operative Society Act, 1960. It has…

Dy. Commissioner of Income Tax, Satara Circle, Satara vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Tal. Man Satara

In the result, the appeal of the Revenue in ITA No

ITA 1800/PUN/2025[2018-19]Status: DisposedITAT Pune18 Dec 2025AY 2018-19

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.1800 & 1801/Pun/2025 निर्धारण वर्ष / Assessment Years : 2018-19 & 2020-21 Dy. Cit, Satara Circle, Satara Vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, At Post-Dahiwadi, Tal.-Man Satara, Satara-415508 Pan: Aaoas0059G अपीलार्थी / Appellant Assessee By : Shri R.C. Doshi Department By : Shri S. Sadananda Singh Date Of Hearing : 11-11-2025 Date Of Pronouncement : 18-12-2025 प्रत्यर्थी / Respondent आदेश / Order Per Astha Chandra, Jm : These Two Appeals Filed By The Revenue Are Directed Against The Two Separate Orders Both Dated 19.05.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac"] Pertaining To Assessment Year (“Ay”) 2018-19 & 2020-21. Since The Issue(S) Involved Are Identical, These Were Heard Together & Are Being Disposed Of By This Common Order.

For Appellant: Shri R.C. DoshiFor Respondent: Shri S. Sadananda Singh

Section 133(6)Section 143(3)Section 2(19)Section 80PSection 80P(2)(a)

…he case of the appellant for AY 2017-18, in ITA No. 180/PUN./2023 followed the view taken by the Hon'ble High Court of Kamataka in the case of Totagars Cooperative Sale Society (392 ITR 74) and Hon'ble High Court of Gujarat in the case of State Bank Of India (389 ITR 578), wherein it was observed that the interest income earned by a cooperative society on its investments held with a co-operative bank would be eligible for claim of deduction under section 80P(2)(d) of the Act. G. In this case, the appellant is itself a credit Co-operative Society registered under Maharashtra Co-operative Society Act, 1960. It has…

Bella Vista Co Operative Housing Society Limited, Mumbai vs. ITO Ward 3(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 6594/MUM/2025[2020-21]Status: DisposedITAT Mumbai17 Dec 2025AY 2020-21

Bench: Shri Vikram Singh Yadav & Shri Rahul Chaudharyassessment Year : 2020-21 Bella Vista Co-Operative Income Tax Officer, Housing Society Limited, Ward-3(1), 7Th Floor, Bella Vista, Vs. Room No. 3, 6Th Floor, 20A Oswal Park, B Wing, Pokharan Road-2, Ashar It Park, Road No.16Z, Thane, Wagle Industrial Estate, Maharashtra–400601. Thane (West), [Pan: Aadab2432M] Maharashtra-400604. (Appellant) (Respondent) For Assessee : Shri Ritesh Shiyal For Revenue : Shri B. Laxmi Kanth, Sr.Dr Date Of Hearing : 16-12-2025 Date Of Pronouncement : 17-12-2025 Order Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Assessee Against The Order Of The Ld.Addl/Jcit(A)-3, Bengaluru, Dated 26-09-2025, Pertaining To Assessment Year (Ay) 2020-21. 2. The Limited Issue For Consideration In The Present Matter Relates To Claim Of Exemption U/S 80P(2)(D) Of The Act By The Assessee Co-Operative Society In Respect Of Interest Income Earned On Deposits Placed With Co-Operative Banks.

For Appellant: Shri Ritesh ShiyalFor Respondent: Shri B. Laxmi Kanth, Sr.DR

Section 143(1)Section 154Section 80Section 80PSection 80P(1)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, 8 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-sec…

Clover Everest World Co-Operative Housing Society Limited, Thane vs. ITO, Ward 1(1), Thane

In the result, the appeal of the assessee is allowed

ITA 6376/MUM/2025[2021-22]Status: DisposedITAT Mumbai12 Dec 2025AY 2021-22

Bench: Shri Vikram Singh Yadav & Shri Rahul Chaudharyassessment Year : 2021-22 Clover Everest World Ito, Ward-1(1), Co-Operative Housing Society 6Th Floor, Limited, Vs. Income Tax Department, Clover Everest Complex, Ashar It Park, Clover Everest World Chs, Wagale Estate, Dhokali, Thane, Thane Maharashtra–400607. Maharashtra-400604. [Pan: Aabac8915E] (Appellant) (Respondent) For Assessee : Shri Ruturaj Gurjar For Revenue : Shri Mahesh Shingate, Addl. Cit (Virtually Appeared) Date Of Hearing : 09-12-2025 Date Of Pronouncement : 12-12-2025 Order Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Addl/Jcit(A)-2, Visakhapatnam, Dated 25-08-2025, Pertaining To Assessment Year (Ay) 2021-22. 2. The Limited Issue For Consideration In The Present Matter Relates To Claim Of Exemption U/S 80P(2)(D) Of The Act By The Assessee Co-Operative Society In Respect Of Interest Income Earned On Deposits Placed With Co-Operative Banks.

For Appellant: Shri Ruturaj GurjarFor Respondent: Shri Mahesh Shingate, Addl. CIT

Section 143(1)Section 154Section 80Section 80PSection 80P(1)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, 8 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-sec…

Shree Laxmi Jyot Industrial Co-Op Soc. Ltd, Mumbai vs. ACIT Cir-25(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 6371/MUM/2025[2018-19]Status: DisposedITAT Mumbai12 Dec 2025AY 2018-19

Bench: Shri Vikram Singh Yadav & Shri Rahul Chaudharyassessment Year : 2018-19 Shree Laxmi Jyot Industrial Acit, Circle-25(1), Premises Co-Op. Society Pratyaksha Kar Bhawan, Limited, Vs. Bandra Kurla Complex (Bkc), 29-J, Laxmi Industrial Estate, Bandra (East), New Link Road, Mumbai-400051. Andheri West, Mumbai – 400053. [Pan: Aadas7200A] (Appellant) (Respondent) For Assessee : Shri Gajendra Golchha For Revenue : Shri Vikas Chandra, Sr.Dr Date Of Hearing : 09-12-2025 Date Of Pronouncement : 12-12-2025 Order Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Addl/Jcit(A)-Mysore, Dated 12-08-2025, Pertaining To Assessment Year (Ay) 2018-19. 2. The Limited Issue For Consideration In The Present Matter Relates To Claim Of Exemption U/S 80P(2)(D) Of The Act By The Assessee Co-Operative Society In Respect Of Interest Income Earned On Deposits Placed With Co-Operative Banks.

For Appellant: Shri Gajendra GolchhaFor Respondent: Shri Vikas Chandra, Sr.DR

Section 80Section 80PSection 80P(1)Section 80P(2)(d)

…further find that the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative 8 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…

Mehsana Taluka Madhyamik Teachars Credit and Consumers Sahakari Mandali, Mehsana vs. ITO, Ward-2, Mehsana Presently Ward-1, Mehsana

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

ITA 1923/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2020-21

Bench: Dr.Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Shri Mehal Doshi, A.RFor Respondent: Shri Abhijit, Sr. DR

Section 143(1)(a)Section 263Section 80PSection 80P(2)Section 80P(2)(d)Section 80P(4)

…integra in view of the decision of this Court in case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. v Asstt. Commissioner of Income Tax [2022] 140 taxmann.com 602 (Guj.) as well as in case of State Bank of India v Commissioner of Income Tax (2018) 389 ITR 578 (Guj.) wherein it was held that the deduction under section ITA Nos.1728 & 1923/Ahd/2025 Asst.Years 2015-16 & 2020-21 - 4– 80P(2)(d) is available to the cooperative societies on the income earned as interest on the investment made with the cooperative bank which in turn, is a cooperative society itself. [Para 28]  Reliance placed by the revenu…

Mehsana Taluka Madhyamik Teachars Credit and Consumers Sahakari Mandali, Mehsana vs. ITO, Ward-2, Mehsana Presently Ward-1, Mehsana

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

ITA 1728/AHD/2025[2015-16]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2015-16

Bench: Dr.Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Shri Mehal Doshi, A.RFor Respondent: Shri Abhijit, Sr. DR

Section 143(1)(a)Section 263Section 80PSection 80P(2)Section 80P(2)(d)Section 80P(4)

…integra in view of the decision of this Court in case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. v Asstt. Commissioner of Income Tax [2022] 140 taxmann.com 602 (Guj.) as well as in case of State Bank of India v Commissioner of Income Tax (2018) 389 ITR 578 (Guj.) wherein it was held that the deduction under section ITA Nos.1728 & 1923/Ahd/2025 Asst.Years 2015-16 & 2020-21 - 4– 80P(2)(d) is available to the cooperative societies on the income earned as interest on the investment made with the cooperative bank which in turn, is a cooperative society itself. [Para 28]  Reliance placed by the revenu…

Avkar Urban Co-Op Credit Society Ltd., Surat vs. ACIT Circle 3(3), Surat

In the result, the appeal of the assessee is allowed

ITA 715/SRT/2025[2017-18]Status: DisposedITAT Surat02 Dec 2025AY 2017-18

Bench: Ms. Suchitra Raghunath Kamble & Shri Bijayananda Prusethआयकर अपील सं./Ita No.715/Srt/2025 Assessment Year: (2017-18) (Hybrid Hearing) Avkar Urban Co-Op. Credit Soc. Vs. Acit, Ltd., Circle – 3(3), 113-114, Sunrise Chambers, Surat Varachha Road, Mini Bazar, Surat - 395006 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaaa8341B (Appellant) (Respondent) Appellant By Shri Aakash Bakashwala, Ca Respondent By Ms Neerja Sharma, Sr. Dr Date Of Hearing 17/11/2025 Date Of Pronouncement 02/12/2025

Section 143(2)Section 2Section 250Section 80Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME-TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE MS. SUCHITRA RAGHUNATH KAMBLE, JUDICIAL MEMBER AND SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.715/SRT/2025 Assessment Year: (2017-18) (Hybrid Hearing) Avkar Urban Co-op. Credit Soc. Vs. ACIT, Ltd., Circle – 3(3), 113-114, sunrise Chambers, Surat Varachha Road, Mini Bazar, Surat - 395006 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAAAA8341B (Appellant) (Respondent) Appellant by Shri Aakash Bakashwala, CA Respondent by Ms Neerja Sharma, Sr. DR Date of Hearing 17/11/2025 Date of Pronouncement 02/12/2025 आदेश / O R D E R PER BIJAYANANDA P…

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

In the result, the appeal of the Revenue is dismissed

ITA 3659/MUM/2023[2015-16]Status: DisposedITAT Mumbai02 Dec 2025AY 2015-16

Bench: Hon‟Ble Justice (Retd.) C. V. Bhadang & Shri Vikram Singh Yadavassessment Year : 2015-16 Income Tax Officer, Mumbai Nariman Bhavan Premises Co Op Room No. 118, 1St Floor, Society Ltd. G Block, Kautilya Bhavan, Vs. 227 Backbay Reclamation, Bandra Kurla Complex (E), Nariman Point, Mumbai – 400021. Mumbai – 400051. [Pan: Aajn0320J] (Appellant) (Respondent) For Assessee : Shri K. Gopal / Om Kandalkar For Revenue : Ms. Nidhi Agarwal, Sr. Dr (Virtually Present) Date Of Hearing : 02-12-2025 Date Of Pronouncement : 02-12-2025 Order Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals) - National Faceless Appeal Centre (Nfac), Delhi [„Ld. Cit(A)‟], Dated 14-08-2023, Pertaining To Assessment Year (Ay) 2015-16. 2. At The Outset, It Is Noted That This Is A Recalled Matter Wherein Co-Ordinate Bench Vide Its Order Dated 22.09.2025 In Ma No. 244/M/2024 Has Recalled The Earlier Order Dated 08.05.2024 & The Matter Has Now Come Up For Adjudication Before Us.

For Appellant: Shri K. Gopal / Om KandalkarFor Respondent: Ms. Nidhi Agarwal, Sr. DR

Section 3Section 80Section 80PSection 80P(1)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…

Kaiga Project Employees Thrift and Credit Society, Karwar vs. Income Tax Officer, Ward - 2, Karwar

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 62/PAN/2025[2015-16]Status: DisposedITAT Panaji28 Nov 2025AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…low the view taken by 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), wherein it was observed that the Page 16 of 36 Akshaya Co-Op credit society Limited & others. interest income earned by a cooperative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. 9. Be that as it may, in our considered view, as the A.O while framing the a…

Havyaka Credit Souharda Sahakari Niyamita, Kumta vs. Income Tax Officer Ward-2 Karwar, Karwar

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 60/PAN/2025[2017-18]Status: DisposedITAT Panaji28 Nov 2025AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…low the view taken by 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), wherein it was observed that the Page 16 of 36 Akshaya Co-Op credit society Limited & others. interest income earned by a cooperative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. 9. Be that as it may, in our considered view, as the A.O while framing the a…

Vardhaman Urban Co-Op Credit Society Ltd, Belgaum vs. Income Tax Officer Ward 4 Belgaum, Belgaum

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 42/PAN/2025[2017-2018]Status: DisposedITAT Panaji28 Nov 2025AY 2017-2018

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…low the view taken by 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), wherein it was observed that the Page 16 of 36 Akshaya Co-Op credit society Limited & others. interest income earned by a cooperative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. 9. Be that as it may, in our considered view, as the A.O while framing the a…

Shri Jai Jinendra Souharda Sahakari Sangh Niyamit, Belagavi vs. National E Assessment Centre, Belagavi

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 41/PAN/2025[2018-2019]Status: DisposedITAT Panaji28 Nov 2025AY 2018-2019

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

…low the view taken by 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), wherein it was observed that the Page 16 of 36 Akshaya Co-Op credit society Limited & others. interest income earned by a cooperative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. 9. Be that as it may, in our considered view, as the A.O while framing the a…

State Bank Of India v. CIT

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

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Issues it is cited on

Judgments citing State Bank Of India v. CIT

Surendranagar District Co Op Producers Union Limited, Surendranagar vs. Assistant Commissioner of Income Tax, Surendranagar Circle

Income Tax Officer, Chennai vs. Railway Employees Cooperative Credit Society, Chennai

Income Tax Officer, Chennai vs. Railway Employees Cooperative Credit Society Limited, Chennai

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

Shree Vegam Urban Co Op Credit Society Limited, Surat vs. ACIT, Circle-1(2), Surat

Everard Towers Cooperative Housing Society Limited, Everard Tower Chs Ltd vs. Ward 41(1)(2), Mumbai, Kautilya Bhavan

The Brahmaling Multipurpose Co-Op Society Ltd, Belgaum vs. Income Tax Officer, Ward -3, Belgaum

Dy. Commissioner of Income Tax, Satara Circle, Satara vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Man, Satara

Dy. Commissioner of Income Tax, Satara Circle, Satara vs. Shri Siddhanath Nagari Sahakari Patsanstha Marya Dahiwadi, Tal. Man Satara

Bella Vista Co Operative Housing Society Limited, Mumbai vs. ITO Ward 3(1), Mumbai

Clover Everest World Co-Operative Housing Society Limited, Thane vs. ITO, Ward 1(1), Thane

Shree Laxmi Jyot Industrial Co-Op Soc. Ltd, Mumbai vs. ACIT Cir-25(1), Mumbai

Mehsana Taluka Madhyamik Teachars Credit and Consumers Sahakari Mandali, Mehsana vs. ITO, Ward-2, Mehsana Presently Ward-1, Mehsana

Mehsana Taluka Madhyamik Teachars Credit and Consumers Sahakari Mandali, Mehsana vs. ITO, Ward-2, Mehsana Presently Ward-1, Mehsana

Avkar Urban Co-Op Credit Society Ltd., Surat vs. ACIT Circle 3(3), Surat

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

Kaiga Project Employees Thrift and Credit Society, Karwar vs. Income Tax Officer, Ward - 2, Karwar

Havyaka Credit Souharda Sahakari Niyamita, Kumta vs. Income Tax Officer Ward-2 Karwar, Karwar

Vardhaman Urban Co-Op Credit Society Ltd, Belgaum vs. Income Tax Officer Ward 4 Belgaum, Belgaum

Shri Jai Jinendra Souharda Sahakari Sangh Niyamit, Belagavi vs. National E Assessment Centre, Belagavi