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 366,470 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

Kalbhairavnath Gramin Bigarsheti Sahakari Pat Sanstha Maryadit, Pune vs. Income Tax Office, Ward-14(5), Pune

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

ITA 248/PUN/2023[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Jankalyan Nagari Sahakari Patsnstha Ltd, Satara vs. Principal Commissioner of Income Tax, Pune-3, Pune

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

ITA 226/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Matoshri Nagari Sahakari Pat Sanstha Maryadit, Pune vs. Principal Commissioner of Income Tax, -4, Pune

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

ITA 213/PUN/2023[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Ajinkaya Madhyamik Shikahak Sevak Sah. Patsanstha Marayadit, Satara vs. Principal Commissioner of Income Tax-3, Pune

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

ITA 186/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Kadepathar Gramin Bigar Sheti Sahakari Path Sanstha, Maryadit, Pune vs. Principal Commissioner of Income Tax-4, Pune

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

ITA 889/PUN/2022[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

Shree Ghadgenath Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Karad vs. Principal Commissioner of Income-Tax -3, Pune

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

ITA 771/PUN/2022[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. No. Year 1 186/PUN/2023 Ajinkaya Madhyamik PCIT-3, Pune. 2018-19 Shikahak Sevak Sah. Patsanstha Marayadit, 769, Jagtap Colony, Malhar Peth, Satara- 415001. PAN : AAAAA3002D 2 213/PUN/2023 Matoshri Nagari Sahakari PCIT-4, Pune. 2017-18 Pat. Sanstha Maryadit, Flat No.2, 797 Sadashiv Peth, Pate Classic, Barrister Gadgil Street, Pune- 411030. PAN : AAAAM9379D 3 226/PUN./2023 Jankalyan Nagari PCIT-3, Pune. 2018-19 Sahakari…

The Government E Co-Operative Society Ltd., Bharuch vs. Principal Commissioner of Income Tax, Vadodara-1, Vadodara

In the result, appeal of the assessee is allowed

ITA 126/SRT/2023[2017-18]Status: DisposedITAT Surat23 May 2023AY 2017-18

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.126/Srt/2023 (Ay 2017-18) (Hearing In Virtual Court) The Government E Co- Principal Commissioner Of Operative Society Ltd./, Income Tax, Vadodara-1, Vs First Floor, Government Room No.214, 2Nd Floor, Sevasadan, Bhag-2, B/H Aaykar Bhawan, Race Course Pwd Office, Bharuch- Circle, Vadodara-390007 392001 Pan No. Aaalt 0832 D अपीलाथ"/Appellant ""थ" /Respondent

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

…आयकर अपीलीय अिधकरण, सुरत "ायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr ARJUN LAL SAINI, ACCOUNTANT MEMBER आ.अ.सं./ITA No.126/SRT/2023 (AY 2017-18) (Hearing in Virtual Court) The Government E Co- Principal Commissioner of Operative Society Ltd./, Income Tax, Vadodara-1, Vs First Floor, Government Room No.214, 2nd Floor, Sevasadan, Bhag-2, B/h Aaykar Bhawan, Race Course PWD Office, Bharuch- Circle, Vadodara-390007 392001 PAN No. AAALT 0832 D अपीलाथ"/Appellant ""थ" /Respondent िनधा"रती की ओर से /Assessee by Shri Sakar Sharma, C.A राज" की ओर से…

Hindalco Employees Coop Credit Society Ltd, Taloga vs. The Principal Commissioner of Income Tax-1, Thane

Appeal is allowed in above terms

ITA 500/PUN/2023[2018-19]Status: DisposedITAT Pune22 May 2023AY 2018-19

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

For Appellant: Shri Nikhil S PathakFor Respondent: Shri Sardar Singh Meena
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…n u/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 8 ITA.No.500/PUN./2023 Agricultural Development Bank Ltd. 389 ITR 68 and the Hon’ble Kolkata High Court in the case of CIT Vs. S…

Suvarnyug Gramin Bigar Sheti Sah Patsanstha Marya Nimgaonketki, Pune vs. The Principal Commissioner of Income Tax, Pune-4, Pune

Appeal is allowed in above terms

ITA 495/PUN/2023[2018-19]Status: DisposedITAT Pune22 May 2023AY 2018-19

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

For Appellant: Shri Abhay A AvchatFor Respondent: Shri Sardar Singh Meena, CIT
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…n u/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 Employees…

Sharanabasaveshwar Credit Souhard Sahakri Ni Halingali, Bagalkot vs. Assistant Commissioner of Income-Tax, Circle-1, Bijapur

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

ITA 107/BANG/2023[2018-19]Status: DisposedITAT Bangalore17 May 2023AY 2018-19
For Appellant: Shri Veeranna M. Murgod, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…d. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of India v. CIT [2016] 389 ITR 578/241 Taxman 163/72 taxmann.com 64 and the Division Bench of the Gujarat High Court has held as under: "(ii) That the assessee did not carry on any banking business and its objects did not contemplate investment of surplus funds received from its members. The business of a credit society like that of the assessee was limited to providing credit to…

Sholapur District Police Employees Credit Co- Operative Siciety, Solapur vs. The Principal Commissioner of Income Tax-4, Pune

Appeal is allowed in above terms

ITA 376/PUN/2023[2018-19]Status: DisposedITAT Pune15 May 2023AY 2018-19

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

For Appellant: -None-For Respondent: Shri Sardar Singh Meena
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. 10 ITA.No.376/PUN./2023. 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…

Solapur Zilha Prathamik Shikshak Sahakari Sanstha Niyamit, Solapur vs. Principal Commissioner of Income Tax, Pune-4, Pune

Appeal is allowed in above terms

ITA 370/PUN/2023[2018-19]Status: DisposedITAT Pune15 May 2023AY 2018-19

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

For Appellant: -None-For Respondent: Shri Sardar Singh Meena
Section 143(3)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-section…

The Income Tax Officer, Ward-10(1), Pune vs. Vasantrao Naik Nagari Sahakari Patsanstha, Pune

Appeal is dismissed in above terms

ITA 368/PUN/2023[2018-19]Status: DisposedITAT Pune15 May 2023AY 2018-19

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

For Appellant: Shri Pramod ShingteFor Respondent: Shri M.G. Jasnani
Section 143(3)Section 263Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…n u/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 Employees…

Sangam Co-Op Credit Society, Bagalkot vs. Income-Tax Officer Ward-2, Bagalkot

In the result, both the appeals by the assessee are partly allowed for statistical purposes

ITA 69/BANG/2023[2020-21]Status: DisposedITAT Bangalore12 May 2023AY 2020-21
For Appellant: Shri Ashok Mudnur, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…er sources and not income from business and therefore the deduction u/s.80P(2)(d) of the Act cannot be allowed to the Assessee. The Hon'ble Court followed decision of Hon'ble Gujarat High Court in the case of SBI v. CIT [2016] 72 taxmann.com 64/241 Taxman 163/389 ITR 578 in which the Hon'ble Gujarat High Court dissented from the view taken by the Hon'ble Karnataka High Court in the case of Tumkur Merchants case (supra) The Hon'ble Court had to deal with the following substantial question of law : "(I) Whether the assessee, Totagar Co-operative Sale Society, Sirsi, is entitled to 100% deduction under section 80P(2…

Sangam Co-Op Credit Society, Bagalkot vs. Income-Tax Officer Ward 1& Tps, Bagalkot

In the result, both the appeals by the assessee are partly allowed for statistical purposes

ITA 68/BANG/2023[2018-19]Status: DisposedITAT Bangalore12 May 2023AY 2018-19
For Appellant: Shri Ashok Mudnur, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…er sources and not income from business and therefore the deduction u/s.80P(2)(d) of the Act cannot be allowed to the Assessee. The Hon'ble Court followed decision of Hon'ble Gujarat High Court in the case of SBI v. CIT [2016] 72 taxmann.com 64/241 Taxman 163/389 ITR 578 in which the Hon'ble Gujarat High Court dissented from the view taken by the Hon'ble Karnataka High Court in the case of Tumkur Merchants case (supra) The Hon'ble Court had to deal with the following substantial question of law : "(I) Whether the assessee, Totagar Co-operative Sale Society, Sirsi, is entitled to 100% deduction under section 80P(2…

Jansevak Co-Op Credit Society Ltd, Mumbai vs. Income Tax Officer, Ward 27(1)(5), Mumbai

ITA 639/MUM/2023[2014-15]Status: DisposedITAT Mumbai09 May 2023AY 2014-15
Section 143(1)Section 250Section 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 subsection…

Jansevak Co-Op Credit Society Ltd, Mumbai vs. Income Tax Officer, Ward 27(1)(5), Mumbai

ITA 638/MUM/2023[2015-16]Status: DisposedITAT Mumbai09 May 2023AY 2015-16
Section 143(1)Section 250Section 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 subsection…

Golden Square Chs Ltd., Mumbai vs. ITO-22 (1)(5), Mumbai

In the result, the two appeals filed by the assesee are allowed

ITA 572/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 May 2023AY 2012-13

Bench: Shir Pavan Kumar Gadaleita No. 572 & 573/Mum/2023 (A.Y: 2012-13 & 2013-14) Golden Square Chsltd., Vs. Ito – 22(1)(5),Roomno. Cst Road, Sunder Nagar 323,3Rdfloor,Piramal Kalina, Santicruz (E) Chamber,Lalbaug, Mumbai. 400098 Parel, Mumbai.400012 Pan/Gir No. : Aaaag2527M Appellant .. Respondent Appellant By : Shri Kunal Lunawat & Shri Rajendra Kumar Jain.Ar Respondent By : Shri Rajendra Chandekar.Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 04.05.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: These Are The Two Appeals Filed The Assessee Against The Different Orders Of The National Faceless Appeal Centre (Nfac)/Cit(A), Delhi Passed U/S 250 Of The Act.

For Appellant: Shri Kunal Lunawat, &For Respondent: Shri Rajendra Chandekar.DR
Section 143(1)Section 154Section 154(7)Section 250Section 80PSection 80P(2)(d)

…emises Co operative Society Limted Vs PCIT ITA No 561/Mum/2021. The Hon'ble ITAT relied on two decisions of High courts 1. Pr CIT Vs Totagars Co operative sale society (2017) 392 ITR 74 (Karnataka HC) 2. Gujarat High court in State bank of India Vs CIT (2016) 389 ITR 578 (Guj) where it is held that the interest income earned by a cooperative society on its investments with co operative bank would be eligible for claim of deduction u/s 80P 2(d) and based on these two decisions, the Mumbai ITAT held in favour of assesse that it is eligible for deduction w.r.t interest received from co-operative bank. Respectfully f…

Shriram Nagri Sahakari Patsanstha Ltd, Satara vs. Income Tax Officer, Ward-1, Satara

Appeal is allowed in above terms

ITA 342/PUN/2023[2018-19]Status: DisposedITAT Pune04 May 2023AY 2018-19

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

For Appellant: Shri Prasanna JoshiFor Respondent: Shri Sardar Singh Meena
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…n u/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 Employees…

Sant Dnyaneshwar Nagari Sahakari Patsanstha Maryadit, Pune vs. The Principal Commissioner of Income Tax, Pune-3, Pune

Appeal is allowed in above terms

ITA 341/PUN/2023[2018-19]Status: DisposedITAT Pune03 May 2023AY 2018-19

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

For Appellant: -None-For Respondent: Shri Sardar Singh Meena
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…n u/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 8 ITA.No.325/PUN./2023 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. So…