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 366,339 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

Sahyadri Sahakari Sakhar Karkhana Ltd, Kolhapur vs. Assistant Commissioner of Income-Tax, Circle -1., Kolhapur

Appeal is allowed

ITA 676/PUN/2021[2016-17]Status: DisposedITAT Pune30 May 2022AY 2016-17

Bench: Shri S.S.Godara

Section 143(3)Section 80PSection 80P(4)

…e that the same only bars a cooperative bank from claiming the impugned deduction itself rather than a cooperative society deriving interest income from its deposits made in such an institution. Coupled with this, case law in State Bank of India Vs.CIT (2016) 389 ITR 578 (Guj.) and CIT Vs. Totagar Cooperative Society (2017) 392 ITR 74 (Kar.) already decides the instant issue in assessee’s favour and against the department thereby holding that interest income derived from a cooperative bank is indeed allowable as Sec.80P deduction. I accordingly delete the impugned disallowance in very terms. 4. This assessee’s a…

Sea Flama(Dosti Flamingos) Chs Ltd, Mumbai vs. DCIT (E) -1 (1), Mumbai

In the result, all the appeals are allowed

ITA 2317/MUM/2021[2015-16]Status: DisposedITAT Mumbai27 May 2022AY 2015-16
For Appellant: Shri Kishor P. ChoudhariFor Respondent: Shri Avinash Tiwari
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 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 dou…

Rajarshi Shahu Nagari Sahakari Pat Sanstha Ltd., Kolhapur vs. Income Tax Officer, Ward 1(3), Kolhapur

Appeal is allowed in above terms

ITA 609/PUN/2021[2017-18]Status: DisposedITAT Pune26 May 2022AY 2017-18

Bench: Shri S. S. Godaraआयकर अपील सं. / Ita No.609/Pun/2021 िनधा"रण वष" / Assessment Year: 2017-18 Rajarshi Shahu Nagari Vs. Ito, Ward-1(3), Kolhapur. Sahakari Pat Sanstha Ltd., A/P. Murgud, Tal. Kagal, Dist. Kolhapur-416219. Pan : Aaaar1341Q Appellant Respondent Assessee By None : Revenue By : Shri Arvind Desai Date Of Hearing : 23.05.2022 Date Of Pronouncement : 26.05.2022 आदेश / Order Per S. S. Godara, Jm: This Assessee’S Appeal For Assessment Year 2017-18 Arises Against The Cit(A)- National Faceless Appeal Centre (Nfac), Delhi’S Order Dated 23.09.2021 Passed In Case No. Itba/Nfac/S/250/2021-22/1035827237(1) Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short The Act. Case Called Twice. None Appears At Assessee’S Behest. It Is Accordingly Proceeded Ex-Parte.

For Respondent: Shri Arvind Desai
Section 143(3)Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER आयकर अपील सं. / ITA No.609/PUN/2021 िनधा"रण वष" / Assessment Year: 2017-18 Rajarshi Shahu Nagari Vs. ITO, Ward-1(3), Kolhapur. Sahakari Pat Sanstha Ltd., A/p. Murgud, Tal. Kagal, Dist. Kolhapur-416219. PAN : AAAAR1341Q Appellant Respondent Assessee by None : Revenue by : Shri Arvind Desai Date of hearing : 23.05.2022 Date of pronouncement : 26.05.2022 आदेश / ORDER PER S. S. GODARA, JM: This assessee’s appeal for assessment year 2017-18 arises against the CIT(A)- National Faceless Appeal Centre (NFAC), Delhi’s or…

The ACIT, Patan Circle, Patan vs. The Sardar Patel Co Opertaive Credit Society Limited, Mehsana

In the result, the appeal of the revenue is dismissed

ITA 1404/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad20 May 2022AY 2016-17
For Appellant: NoneFor Respondent: Shri Sudhendu Das, Sr. D.R
Section 271(1)(c)Section 56Section 56oSection 57Section 80PSection 80P(2)(d)

…tive banks. 5.1 The issue for consideration before us is whether the assessee is eligible to claim deduction on interest earned from Co-Operative Banks u/s 80P(2)(d) of the Act. The Hon’ble Gujarat High Court in the case of State Bank of India Vs. CIT (2016) 389 ITR 578 (Guj), held that that the interest income earned by a co-operative society on its investments held with a co-operative bank would be eligible for claim of deduction under I.T.A No. 1404/Ahd/2019 A.Y. 2016-17 Page No. 5 ACIT vs. The Sardar Patel Co-Op. Credit Society Ltd. Sec.80P(2)(d) of the Act. The Honourable Gujarat High Court made following…

The Dhanera Nagarik Sahakari Mandali Ltd., Banaskantha vs. The Asstt. Commissioner of Income Tax, Circle, Palanpur

In the result, the appeal of the assessee is allowed

ITA 125/AHD/2021[2017-18]Status: DisposedITAT Ahmedabad19 May 2022AY 2017-18

Bench: The Final Hearing.”

For Appellant: Shri Manthan Khokhani, A.RFor Respondent: Shri V.K. Singh, Sr. D.R
Section 80PSection 80P(2)(a)Section 80P(2)(d)

…her Sources.” 6. The issue for consideration before us is whether the assessee is eligible to claim deduction on interest earned from Co-Operative Bank u/s 80P(2)(d) of the Act. The Hon’ble Gujarat High Court in the case of State Bank of India Vs. CIT (2016) 389 ITR 578 (Guj), held that that the interest income earned by a co-operative society on its investments held with a co-operative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. The Honourable Gujarat High Court made following observations in respect of interest earned from deposits kept with a cooperative bank: Therefore, it…

M/S Nagashettikoppa Chibbalageri Vyavasaya Seva Sahakari Sangha Niyamit, Uttara Kannada vs. Income Tax Officer, Ward-2(3), Hubballi

In the result, appeal of the assessee is treated as partly allowed for statistical purpose

ITA 53/BANG/2022[2017-18]Status: DisposedITAT Bangalore12 May 2022AY 2017-18

Bench: Shri Chandra Poojariassessment Year : 2017-18

For Appellant: Sri Vishal S Rao, A.RFor Respondent: Shri Ganesh R. Ghale, Standing counsel for dept
Section 143(2)Section 234BSection 80P(2)(a)

…e 6 of 11 the nature of income from other 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 Vs. CIT 389 ITR 578(Guj.) 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…

Shri Mahila Co. Op. Credit Society Ltd., Botad vs. The ACIT, Circle-1, Bhavnagar

In the result, the appeal of the assessee is allowed

ITA 57/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad06 May 2022AY 2017-18
For Appellant: NoneFor Respondent: Shri Umesh Agarwal, Sr. D.R
Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(d)

…erial on record. The issue for consideration before us is whether the assessee is eligible to claim deduction on interest earned from Co-Operative Banks u/s 80P(2)(d) of the Act. The Hon’ble Gujarat High Court in the case of State Bank of India Vs. CIT (2016) 389 ITR 578 (Guj), held that the interest income earned by a co-operative society on its investments held with a co-operative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. The Honourable Gujarat High Court made following observations in respect of interest earned from deposits kept with a cooperative bank: Therefore, it is on…

The Brahmarshi Co Opp Credit Society Limited, Arvalli vs. Assessing Officer, Circle, Himatnagar, Arvalli

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

ITA 243/AHD/2021[2017-18]Status: DisposedITAT Ahmedabad06 May 2022AY 2017-18
For Appellant: NoneFor Respondent: Shri V.K. Singh, Sr. D.R
Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…6 of the Income Tax act,1961 as it cannot be said to be attributable to the activities of the society. It is also pertinent to discuss here the judgment of Hon'ble High Court of Gujarat in the case of SBI Employees Co-op Credit & Supply Society Ltd V/s. CIT [ 389 ITR 578 (2016) ] wherein it was held that in the case of society engaged in providing credit facilities to its members, it is only the interest which is derived from credit provided to its members which is deductible u/s.80P(2)(a)(i) and interest derived by deposits of surplus funds with bank not being attributable to business carried on by society canno…

Tulsiani Chambers Premises Cooperative Society Ltd, Nariman Point vs. WD 17(3) (4), Mumbai

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

ITA 2459/MUM/2021[2017-18]Status: DisposedITAT Mumbai28 Apr 2022AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

For Appellant: Shri Ashok Rao &For Respondent: Shri B.K. Bagchi.DR
Section 143(1)Section 143(2)Section 143(3)Section 2(19)Section 234ASection 234BSection 80Section 80PSection 80P(2)(c)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…

The Oriental Bank Emp. Co. Op.Credit Society Ltd, Ahmedabad vs. The ITO, Ward-5(2)(5), Ahmedabad

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

ITA 926/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad27 Apr 2022AY 2013-14

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita Nos.926-927/Ahd/2019 िनधा"रण वष"/Asstt. Years:2013-2014 & 2014-15 Oriental Bank Employees Co-Operative I.T.O, Credit Society Ltd., Vs. Ward-5(2)(5), G.F, Neelkamal, Ahmedabad. Opp. Sales India, Ashram Road, Ahmedabad-380009 Gujarat

For Appellant: Shri Nirmal Shrishrimal, A.RFor Respondent: Shri R.R. Makwana, Sr.D.R
Section 37Section 37(1)Section 80PSection 80P(2)(a)

…st income shown by the assessee by way of interest from the bank is not arising to it from the members. Thus the same is not eligible for deduction in view of the judgment of Hon’ble Gujarat High Court in the case of State Bank of India versus CIT reported in 72 Taxmann.com 64 wherein it was held as under: The Income Tax Appellate Tribunal was also justified in holding that interest income of Rs.16,14,579/- and Rs.32,83,410/-respectively on deposits placed with State Bank of India was not exempt under section 80P(2)(a)(i) of the Income Tax Act, 1961. 16.1 However, we find force in the argument of the learned coun…

Belgaum Coal & Coke Consumer Co-Op Association Ltd, Belgaum vs. ITO, Ward - 1(1), Belgavi

The appeal of the assessee is partly allowed for statistical purposes in terms of our aforesaid observations

ITA 102/PAN/2018[2010-11]Status: DisposedITAT Panaji06 Apr 2022AY 2010-11

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 102/Pan/2018 "नधा"रण वष" / Assessment Year : 2010-11 Belgaum Coal & Coke Consumer Co-Operative Association Ltd. Khanapur Road, Udyambag, Belgaum-590 008. Pan : Aaaat4615M .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-1(1), Belagavi. ……""यथ" / Respondent

For Appellant: Shri Shivanand Halbhavi, CAFor Respondent: Shri Sourabh Nayak, Sr. DR
Section 143(3)Section 2(19)Section 263Section 80P(2)(d)Section 80P(2)(e)

…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…

The Markandey Mahila Multipurpose Co-Op. Society Ltd, Belgaum vs. ITO, Ward - 1(2), Belgaum

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

ITA 372/PAN/2017[2012-13]Status: DisposedITAT Panaji31 Mar 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 372/Pan/2017 "नधा"रण वष" / Assessment Year : 2012-13 The Markendey Mahila Multipurpose Co-Op Society Ltd.,12, At Post-Kangrail-Khurd, Taluka & Dist. Belgaum. Pan : Aabam5563C .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward -1(2), Belgaum ……""यथ" / Respondent Assessee By : Shri Pramod Vaidhya, Ar Revenue By : Shri Sourabh Nayak, Sr. Dr

For Appellant: Shri Pramod Vaidhya, ARFor Respondent: Shri Sourabh Nayak, Sr. DR
Section 143(1)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)Section 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…

Mystique Rose Cooperative Housing Society Ltd., Mumbai vs. ITO -22(2)(3), Mumbai

In the result, appeal is partly allowed

ITA 1290/MUM/2021[2014-15]Status: DisposedITAT Mumbai30 Mar 2022AY 2014-15
For Appellant: Shri Siddesh Chaugule (AR)
Section 143(3)Section 250Section 271(1)(c)Section 80P(2)(d)Section 80P(4)

…in the nature of „profits and gains‟ or „income from other sources‟ is not relevant for the purpose of granting benefit of deduction under Section 80P(2)(d) of the Act. 11. The Hon‟ble Gujarat High Court has in the case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj) held as under: “14. Thus, in the light of the principles enunciated by the Supreme Court in Totgars Co-operative Sale Society (supra), in case of a society engaged in providing credit facilities to its members, income from investments made in banks does not fall within any of the categories mentioned in section 80P(2)(a) of the Act. Howeve…

Sonmarg Co-Op Housing Society Ltd., Mumbai vs. CIT (A) Faceless Appeal Centre, Mumbai

In the result, appeal is allowed

ITA 1334/MUM/2021[2017-18]Status: DisposedITAT Mumbai29 Mar 2022AY 2017-18
For Appellant: Shri Prakash Pandit (AR)For Respondent: Shri Nishant Somaiya (DR)
Section 143(3)Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…light of the ratio of aforesaid decisions, it becomes clear that the interest derived by a co-operative society form another co-operative society is eligible for deduction. The Hon‟ble Gujarat High Court has, in the case of State Bank Of India Vs. CIT (2016) 389 ITR 578 (Guj), held as under: “14. Thus, in the light of the principles enunciated by the Supreme Court in Totgars Co-operative Sale Society (supra), in case of a society engaged in providing credit facilities to its members, income from investments made in banks does not fall within any of the categories mentioned in section 80P(2)(a) of the Act. Howev…

Nagothane Byapari Sahakari Patsanstha Maryadit, Raigarh vs. Pr. CIT-1, Thane

ITA 1011/MUM/2021[2016-17]Status: DisposedITAT Mumbai29 Mar 2022AY 2016-17

Bench: Shri Shamim Yahya & Shri Rahul Chaudharyआयकर अपील सं/ I.T.A. No. 1011/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2016-17) Nagothane Vyapari Sahakari बिधम/ Principal Commissioner Of Patsanstha Maryadit, Income Tax Vs. Bazerpeth Nagothane, Thane-1 Raigarh - 402106 Pan : Aaaan4367N (अपीलाथी /Appellant) : (प्रत्यथी) / Respondent) Assessee By: Shri Rajiv Khandelwal (Ar) Revenue By: Shri A.K. Kardam (Cit Dr) सुनवाई की तारीख / Date Of Hearing : 08.02.2022 घोषणा की तारीख /Date Of Pronouncement : 29.03.2022

For Appellant: Shri Rajiv Khandelwal (AR)For Respondent: Shri A.K. Kardam (CIT DR)
Section 143(3)Section 263Section 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 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…

M/S. Kotekar Vyavasaya Seva Sahakara Sangha Niyamitha, Mangaluru vs. The Income Tax Officer, Ward - 2(4), Mangaluru

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

ITA 1232/BANG/2019[2015-16]Status: DisposedITAT Bangalore14 Mar 2022AY 2015-16

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2015-16 M/S. Kotekar Vyavasaya Seva Sahakara Sangha Niyamitha, The Income Tax Officer, 5-4(5), Raitha Sadana, Ward – 2(4), Beeri, Kotekar, Mangalore. Mangalore – 575 022. Vs. Pan: Aaaak2844D Appellant Respondent Assessee By : Shri Prashanth .G.S, Ca : Shri Sankar Ganesh K, Jcit Revenue By (Dr) Date Of Hearing : 31-01-2022 Date Of Pronouncement : 14-03-2022 Order Per Beena Pillaipresent Appeal Arises Out Of Order Dated 19.03.2019 Passed By Ld.Cit(A), Mangaluru On Following Grounds Of Appeal: Tax Effect In Sl.No. Grounds Of Appeal Rs. A) The Orders Of The Authorities Below In So Far As These Are Against The Appellant Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S 1. Case. B) The Appellant Denies Itself Liable To Be Assessed On A Total Income Of Rs.82,17,400/- As Against The Returned Income Of Rs.1,99,640/- Under The Facts & Circumstances

For Appellant: Shri Prashanth .G.S, CA
Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…e nature of income from other 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 Vs. CIT reported in 389 ITR 578, wherein 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). It can thus be seen that the ratio laid down by the Hon'ble Karnataka High Court in the case of Totagars Cooperative Sales Society in 395 ITR 611 is that, in light of the principles enunciated by Hon'…

The Government Servants Co-Op Credit Society Ltd., Vadodara vs. The ITO, Ward-3(1)(2), Vadodara

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

ITA 442/AHD/2020[2012-13]Status: DisposedITAT Ahmedabad28 Feb 2022AY 2012-13

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 442/Ahd/2020 िनधा"रण वष"/Asstt. Year: 2012-13 The Government Servants Co-Op. Credit I.T.O., Society Ltd., Vs. Ward-3(1)(2), Hindi Bhavan, Vadodara. Sanstha Vasahat Raopura, Vadodara-390001. Pan: Aabat5146J

For Appellant: Shri Amrin Pathan, A.RFor Respondent: Shri Purushottam Kumar, Sr..D.R
Section 5Section 56Section 80P(2)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 442/AHD/2020 िनधा"रण वष"/Asstt. Year: 2012-13 The Government Servants Co-op. Credit I.T.O., Society Ltd., Vs. Ward-3(1)(2), Hindi Bhavan, Vadodara. Sanstha Vasahat Raopura, Vadodara-390001. PAN: AABAT5146J (Applicant) (Respondent) Assessee by : Shri Amrin Pathan, A.R Revenue by : Shri Purushottam Kumar, Sr..D.R सुनवाई क" तारीख/Date of Hearing : 18/01/2022 घोषणा क"…

The Gramin Seva Sahakari Samiti Maryadit, Raipur (Cg) vs. Tje Income Tax Officer 1(3), Raipur (Cg)

ITA 305/BIL/2016[2011-12]Status: DisposedITAT Raipur23 Feb 2022AY 2011-12

Bench: Shri Ravish Sood & Shri Jamlappa D Battull

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

…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 34 Gramin Sewa Sahakari Samiti Maryadit & Ors Vs. The ITO, Ward 1(3), Raipur ITA No.114/RPR/2016 & Ors that the CBDT Circular No. 14, dated…

The Gramin Seva Sahakari Samiti Maryadit, Baloda Bazar(C.G0 vs. The Income Tax Officer 1(3), Raipur (Cg)

ITA 303/BIL/2016[2011-12]Status: DisposedITAT Raipur23 Feb 2022AY 2011-12

Bench: Shri Ravish Sood & Shri Jamlappa D Battull

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

…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 34 Gramin Sewa Sahakari Samiti Maryadit & Ors Vs. The ITO, Ward 1(3), Raipur ITA No.114/RPR/2016 & Ors that the CBDT Circular No. 14, dated…

He Sewa Sahakari Samitit Maryadit, Surgi, Rajnandgaon vs. The Income Tax Officer-2, Rajnandgaon

ITA 246/BIL/2016[2011-12]Status: DisposedITAT Raipur23 Feb 2022AY 2011-12

Bench: Shri Ravish Sood & Shri Jamlappa D Battull

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

…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 34 Gramin Sewa Sahakari Samiti Maryadit & Ors Vs. The ITO, Ward 1(3), Raipur ITA No.114/RPR/2016 & Ors that the CBDT Circular No. 14, dated…