State Bank Of India v. CIT

Shree Durgamata Co-Operative Credit Soc Ltd., Mumbai vs. CIT (A) - NFAC, Delhi

In the result the appeal filed by the appeal is allowed

Bench: Shir Pavan Kumar Gadaleshree Durgamata Co-Op Vs. Cit(A)-Nfac, Society Ltd, Room.No 245-A, Room.No.52,Khandkebldg. North Block, No.12,Jksawantmarg, New Delhi, Opp Shivaji Mandir, Delhi-110001. Dadar (W), Mumbai-400028. Pan/Gir No. : Aagas9038K Appellant .. Respondent Appellant By : Shri.Gautam Gokhale.Ar Respondent By : Shri.Rajendra Chandekar.Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 01.05.2023 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 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

…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…

Rehanabad Co-Oprative Housing Society Limited, Mumbai vs. Income Tax Officer, Ward 24(1)(1), Mumbai

In the result, appeal filed by the assessee is allowed

Bench: Shri S. Rifaur Rahman, Hon'Blerehanabad Co-Operative Housing V. Ito- Ward 24(1)(1) Society Limited Piramal Chambers 8, Rehanabad Housing Society Ltd, Dr. Ss Rao Marg, Lower Parel Spence Road, Byculla Mumbai- 400012 Mumbai- 400008 Pan: Aaaar4330D (Appellant) (Respondent)

…We further find that the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon’ble High Court of Gujarat in the case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a co-operative bank would be eligible for claim of deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14, dated 28.12.2006, as had been relied upon by the ld. A.R, also makes it clear beyond any scope of doub…

Vasant Valley Aster Tower Co-Op. Hsg. Soc. Ytd., Mumbai vs. ITO, Ward 30(2)(7), Mumbai

Accordingly, disallowance of INR 24,35,082/- made by the Assessing Officer and confirmed by CIT(A) is deleted and Ground No.1 raised by the Appellant is allowed

…e 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 6 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…

Kalpataru Estate Building Building No.2 Co Op Hsg Soc Ltd., Mumbai vs. Add/Jt/Dy/ACIT, NFAC, Delhi

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

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

…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…

Rustomjee Regency 1 Co-Op Housing Society, Mumbai vs. CIT, CPC, Bangalore

In the result the appeal filed by the appeal is allowed

Bench: Shir Pavan Kumar Gadalerustomjee Regency 1 Vs. Acit,Cpc Co-Op Housing Society Bangalore Cts No. 921/1, Rustom Irani Marg, Off Js Road, Dahisar (E), Mumbai – 400068. Pan/Gir No. : Aaaar6262J Appellant .. Respondent Appellant By : Shri.Mayur Makadia.Ar Respondent By : Smt.Jayashree Thakur.Dr Date Of Hearing 26.04.2023 Date Of Pronouncement 28.04.2023 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 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

…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 Rustomjee Regency 1 Co op Housing Society., Mumbai. 28.12.2006, also makes it clear beyond any scope of d…

Moreshwar Krupa Co Op Housing Society Ltd, Mumbai vs. ITO, 29(2)(2), Mumbai

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

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

…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 Dohad Saifee Co-Operative Housing Society Ltd., Mumbai vs. DCIT/ACIT, CPC, Mumbai

In the result, appeal filed by the assessee is allowed

Bench: Shri S. Rifaur Rahman, Hon'Blethe Dohad Saifee Co-Operative V. Dcit/Acit, Cpc Bangalore Housing Society Limited Kautilya Bhavan Plot No. 10/6 Dohad Saifee Chs Mumbai- 400051 9Th N.S. Road, J.V.P.D. Scheme Vile Parle (W), Mumbai- 400049 Pan: Aabat1406F (Appellant) (Respondent)

…We further find that the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon’ble High Court of Gujarat in the case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a co-operative bank would be eligible for claim of deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14, dated 28.12.2006, as had been relied upon by the ld. A.R, also makes it clear beyond any scope of doub…

ITO Ward-3(4), Thane vs. Tarangan II Chsl, Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Bleito Ward -3(4) V. Tarangan Ii Chsl Room No. 9, B-Wing, 6Th Floor Plot No. 31, Pokharan Rd No. 1 Cadbury Compound Ashar It Park, Wagle Industrial Estate Thane (W)- 400604 Thane- 400606 Pan: Aabat4695G (Appellant) (Respondent) Assessee Represented By : None Department Represented By : Shri S N Kabra

…We further find that the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) and Hon’ble High Court of Gujarat in the case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), had also held that the interest income earned by the assessee on its investments held with a co-operative bank would be eligible for claim of deduction under Sec. 80P(2)(d) of the Act. Still further, we find that the CBDT Circular No. 14, dated 28.12.2006, as had been relied upon by the ld. A.R, also makes it 8 Tarangan II CHSL clear beyon…

M/S. the Ajanta Ideal Co-Operative Housing Society Limited, Mumbai vs. Asst. Director of Incometax, CPC, Bengaluru

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

Bench: Shir Pavan Kumar Gadalethe Ajanta Ideal Co- Vs. Adit,Cpc Operative Housing 1Stfloor,Prestigealpha, Society Ltd, 7/1+2, Hosour Road, Ajanta Apartments, Bengaluru-560100. Near Bus Station, 75, Colaba Road, Mumbai-400005 Pan/Gir No. : Aaaat7871M Appellant .. Respondent Appellant By : None Respondent By : Ms. Jayashree Thakur.Dr Date Of Hearing 27.04.2023 Date Of Pronouncement 28.04.2023 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 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

…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…

Beliram Industrial Estate Premises Co-Op Society Ltd, Mumbai vs. Asst. Director of Income Tax, CPC, Bangaluru

In the result the appeal filed by the appeal is allowed

Bench: Shir Pavan Kumar Gadalebeliram Industrialestate Vs. Adit,Cpc, Premises Co- Soc Ltd., Bengaluru-560500 Sv Road, Dahisar, Mumbai-400068. Pan/Gir No. : Aaaab6799E Appellant .. Respondent Appellant By : Mr.Prakash Shah.Ar Respondent By : Ms.Jayashree Thakur.Dr Date Of Hearing 27.04.2023 Date Of Pronouncement 28.04.2023 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 250 Of The Act.The Assessee Has Raised The Following Grounds Of Appeal:

…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 Beliram Industrial Estate Premises Co-Op Soc Ltd., Mumbai. 28.12.2006, also makes it clear beyond any sco…

Malad Koikl Co, Operatvie Housing Society Limited, Mumbai vs. ITO Ward 41(3)(2), Mumbai

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

Bench: Shri Pavan Kumar Gadaleita Nos. 522 & 523/Mum/2023 (A.Ys: 2018-19 & 2019-20) Maladkokilco-Operative Vs. Ito, Ward 41(3)(2), Housing Society, Dgit(Vig)(West), S-2, Ground Floor, Mumbai-400020. Sunder Nagar, Sv Road, Malad (W), Mumbai -400064. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeam8796J Appellant .. Respondent Assessee By : Shri. Kirit Sanghavi.Ar Revenue By : Smt.Jayashree Thakur.Dr Date Of Hearing 25.04.2023 Date Of Pronouncement 27.04.2023 आदेश / O R D E R

…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…