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 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 366,005 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 80P Section 263 Section 250 Section 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

M/S. Vir Transport Operators Co. Op. Credit and Servieces Society, Dahod vs. The Income Tax Officer, Ward-2, Vadodara

In the result, appeal of the assessee is partly allowed

ITA 2/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad17 Sept 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.02/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2013-2014 M/S.Vir Transport Operators Vs. Ito, Ward-2 Co-Op. Credit & Services Dahod. Society Godhara Road, Limdi Ta: Jhalod Dist. Dahod 389 180. Pan : Aaaas 2228 K

For Appellant: Ms.Uvashi Shodhan, ARFor Respondent: Shri B.P. Srivastava, Sr.DR

Section 80P(2)Section 80P(2)(a)Section 80P(2)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD - BENCH ‘C’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No.02/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2013-2014 M/s.Vir Transport Operators Vs. ITO, Ward-2 Co-op. Credit and Services Dahod. Society Godhara Road, Limdi Ta: Jhalod Dist. Dahod 389 180. PAN : AAAAS 2228 K अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee by : Ms.Uvashi Shodhan, AR Revenue by : Shri B.P. Srivastava, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 11/09/2018 घोषणा क" तार"ख /Date of Pronou…

Vegetable & Fruit Merchant Credit Co.Op. Mandli Ltd., Vadodara vs. The Income Tax Officer, Ward-3(1)(3), Baroda

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

ITA 2958/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad17 Sept 2018AY 2013-14

For Appellant: Shri P.B. Parmar, A.RFor Respondent: Shri Keyur Patel, Sr. D.R

Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “SMC” BENCH Before: Shri Amarjit Singh, Accountant Member And Ms. Madhumita Roy, Judicial Member Assessment Year 2013-14 Vegetable & Fruit Merchant The ITO, Credit Co-Op. Mandli Ltd. Ward-3(1)(3), Kothi Faliya Naka, Vs Race Course, Besides Jabreshwar Baroda Mahadev Temple, (Respondent) Juni Kachhiya Waad, Vadodara-390001 PAN: AAAV2775J (Appellant) Revenue by: Shri Keyur Patel, Sr. D.R. Assessee by: Shri P.B. Parmar, A.R. Date of hearing : 23-07-2018 Date of pronouncement : 17-09-2018 आदेश/ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee’s appea…

Shree Dhansobhavak Co.-Operative Credit Society Ltd., Anand vs. The Income Tax Officer, Ward-5, Anand

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

ITA 3375/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Aug 2018AY 2012-13

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 3375/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13

For Appellant: Shri Piyush Agarwal, ARFor Respondent: Shri Vikram C.S. Sharma

Section 80PSection 80P(2)(a)Section 80P(2)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘D’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 3375/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13 Shree Dhansobhavak Co-operative ITO, Ward-5 Credit Society Ltd. Vs Anand. Baliyakaka Road At & Post. : Anand Pin : 388001, Gujarat. PAN : AAAJS 1101 Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Piyush Agarwal, AR Revenue by : Shri Vikram C.S. Sharma, SR.DR सुनवाई क" तार"ख/Date of Hearing : 27/08/2018 घोषणा क" तार"ख /Date of Prono…

M/S. Jafari Momin Vikas Co-Op. Credit Society Ltd., Patan vs. The Income Tax Officer, Ward-2, Patan

In the result, appeals of the assessee are partly allowed for statistical purpose

ITA 2322/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad28 Aug 2018AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 2320, 2321 & 2322/Ahd/2014 "नधा"रण वष"/Assessment Year: 2007-08, 2010-11 & 2011-12

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri S.K. Dev, SR.DR

Section 80PSection 80P(2)(a)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 2320, 2321 and 2322/Ahd/2014 "नधा"रण वष"/Assessment Year: 2007-08, 2010-11 and 2011-12 M/s.Jafari Momin Vikas Co-op. ITO, ward-2 Credit Society Vs Patan. At-Kakoshi, Ta-Siddhpur Dist – Patan अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri H.V. Doshi, AR Revenue by : Shri S.K. Dev, SR.DR सुनवाई क" तार"ख/Date of Hearing : 14/08/2018 घोषणा क" तार"ख /Date of Pronouncement : 28/08/2018 O R…

M/S. Jafari Momin Vikas Co-Op. Credit Society Ltd., Patan vs. The Income Tax Officer, Ward-2, Patan

In the result, appeals of the assessee are partly allowed for statistical purpose

ITA 2321/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad28 Aug 2018AY 2010-11

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 2320, 2321 & 2322/Ahd/2014 "नधा"रण वष"/Assessment Year: 2007-08, 2010-11 & 2011-12

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri S.K. Dev, SR.DR

Section 80PSection 80P(2)(a)

M/S. Jafari Momin Vikas Co-Op. Credit Society Ltd., Patan vs. The Income Tax Officer, Ward-2, Patan

In the result, appeals of the assessee are partly allowed for statistical purpose

ITA 2320/AHD/2014[2007-08]Status: DisposedITAT Ahmedabad28 Aug 2018AY 2007-08

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 2320, 2321 & 2322/Ahd/2014 "नधा"रण वष"/Assessment Year: 2007-08, 2010-11 & 2011-12

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri S.K. Dev, SR.DR

Section 80PSection 80P(2)(a)

Lady Ratan Tower Cooperative Housing Society Limited, Mumbai vs. Income Tax Officer 21(2)(2), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1152/MUM/2018[2013-14]Status: DisposedITAT Mumbai09 Aug 2018AY 2013-14

Bench: Shri G.S. Pannu & Shri Pawan Singhlady Ratan Tower Cooperative Ito-21(2)(2) Room No. 111, 1St Floor, Housing Society Ltd. Dainik Shivner Marg, Worli, Vs. Piramal Chamebers, Parel, Mumbai-400018. Mumbai-400012. Pan: Aaaal1740P Appellant Respondent Appellant By : Shri Mandar Vaidya (Ar) Respondent By : Shri S.K. Bepair (Sr. Dr) Date Of Hearing : 09.08.2018 Date Of Pronouncement : 09.08.2018 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh; 1. This Appeal By Assessee Is Directed Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-33, Mumbai [Ld. Cit(A)] Dated 29.12.2017 For Assessment Year 2013-14. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri Mandar Vaidya (AR)For Respondent: Shri S.K. Bepair (Sr. DR)

Section 254(1)Section 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 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…

Patan Jilla Shikshan Samitini Prathmik Shalaona Shikshakoni Dhiran & Grahak Sahakari Mandali Ltd., Patan vs. The Income Tax Officer, Ward-2, Patan

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

ITA 638/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad03 Aug 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 638/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14

For Appellant: Shri D.S.Agrawal,ARFor Respondent: Shri Apoorva Bharda

Section 80PSection 80P(2)Section 80P(2)(a)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 638/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 Patan Jilla Shikshan Samiti ITO, Ward-2 Prathmik Shalaona Shikshakoni Vs Patan. Dhiran & Grahak Sahakari Mandali Ld. S-51, Shreedev Complex Opp: Head Post Office At & PO, Patan 384 265 PAN : AABAT 0179 M. अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri D.S.Agrawal,AR Revenue by : Shri Apoorva Bharda सुनवाई क" तार"ख/Date of Hearing : 10/…

The Posun Co. Op. Credit Society Ltd., Baroda vs. The Income Tax Officer, Ward-3(1)(5), Baroda

In the result, the appeal is allowed for statistical purposes

ITA 3360/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 Jul 2018AY 2013-14

Bench: Shri Pramod Kumar] Assessment Year: 2013-14

Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…erial on record carefully. We observed that Hon'ble High Court of Gujarat in the case of State Bank of India SMC-ITA No. 3360/Ahd/2016 The Posun Co. Op. Credit Soc Ltd Vs. ITO Assessment Year: 2013-14 Page 2 of 4 (SBI) vs. Commissioner of Income tax (2016) 72 Taxmann.com 64 has held that interest derived by the Co-Operative society by depositing surplus fund with the bank not being attributable to business carried on by the society cannot be deducted u/s 80P. As per the Hon'ble High Court of Gujarat interest earned from investment made in any bank, not being a co-operative society, is not deductible under sect…

Shri Laxmi Co. Op. Credit Society Ltd vs. The Income Tax Officer, Ward-3(1)(2), Baroda

In the result, the appeal is allowed for statistical purposes

ITA 3359/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 Jul 2018AY 2013-14

Bench: Shri Pramod Kumar] Assessment Year: 2013-14

Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…Soc. Ltd Vs. ITO Assessment Year: 2013-14 Page 2 of 4 “7. We have heard both the sides and perused the material on record carefully. We observed that Hon'ble High Court of Gujarat in the case of State Bank of India (SBI) vs. Commissioner of Income tax (2016) 72 Taxmann.com 64 has held that interest derived by the Co-Operative society by depositing surplus fund with the bank not being attributable to business carried on by the society cannot be deducted u/s 80P. As per the Hon'ble High Court of Gujarat interest earned from investment made in any bank, not being a co-operative society, is not deductible under sect…

Bank Employee'S Consumer and Credit Co-Op. Society Ltd., Jamnagar vs. Income Tax Officer, Ward-2(5), Jamnagar

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

ITA 215/RJT/2018[2014-15]Status: DisposedITAT Rajkot13 Jul 2018AY 2014-15

Bench: Shri Waseem Ahmed & Smt Madhumita Royआयकर अपील सं./I.T.A. No.215/Rjt/2018 ("नधा"रण वष" / Assessment Year : 2014-15) Bank Employee’S Consumer Ito, बनाम/ & Credit Co.Op Society Ward – 2(5), Vs. Ltd., Shop No.463, Jamnagar. Indraprastha Commercial Complex, Pancheshwar Tower Road, Jamnagar – 361 001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaab 1488 J .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से / Appellant By : Shri D. S. Varia, A.R. ""यथ" क" ओर से/Respondent By : Smt. Usha N Shrote, Sr.D.R.

For Appellant: Shri D. S. Varia, A.RFor Respondent: Smt. Usha N Shrote, Sr.D.R

Section 80P(2)(a)

…e Income Tax Act. 4. At the onset, the ld. Authorized Representative before us fairly conceded that issue in dispute is squarely covered against the assessee by the decision of the Hon'ble jurisdictional High Court in the case of State Bank of India Vs. CIT, 389 ITR 578 wherein Hon'ble Court held that interest income earned from the investment made in any bank is not deductible under section 80P(2)(a)(i) of the Act. However the ld. Authorized Representative before us submitted that corresponding expenses incurred in relation to such income should be allowed. From the above we note that the issue for the claim o…

Sardar Co. Op. Credit Society Ltd., Anand vs. The Income Tax Officer, Ward-1(3)(1), Petlad

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

ITA 3417/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad10 Jul 2018AY 2012-13

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./ Ita No. 3417/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13 Sardar Patel Coop. Credit Society Ltd. Ito, Ward-1(3)(1) Chora Shopping Centre Vs Petlad. Nr.Sardar Tower, Khambhat Dist. Anand 388620. Pan : Aaaas 2227 G

For Appellant: NoneFor Respondent: Shir R.P. Mauriya, Sr.DR

Section 80PSection 80P(2)Section 80P(2)(a)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘D’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 3417/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13 Sardar Patel Coop. Credit Society Ltd. ITO, Ward-1(3)(1) Chora Shopping Centre Vs Petlad. Nr.Sardar Tower, Khambhat Dist. Anand 388620. PAN : AAAAS 2227 G अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : None Revenue by : Shir R.P. Mauriya, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 17/07/2018 घोषणा क" तार"ख /Date of Pronouncement : 17 /…

Kevdabaug Navapura Sahakari Mandli Ltd., Baroda vs. ITO, Ward 3(1)(3), Baroda

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

ITA 2158/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad09 Jul 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No. 2158/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 Kevdabaug Navapura Acit, Panchamahal Sahakari Mandali Ltd. Vs Circle Navapura, Muslim Mohalla Godhra. Baroda 390 001. Pan : Aadfk 7671 G अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sarkar Sharma, Ar Revenue By : Shri V.K. Singh, Sr.Dr

For Appellant: Shri Sarkar Sharma, ARFor Respondent: Shri V.K. Singh, Sr.DR

Section 80PSection 80P(2)(a)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘D’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 2158/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 Kevdabaug Navapura ACIT, Panchamahal Sahakari Mandali Ltd. Vs Circle Navapura, Muslim Mohalla Godhra. Baroda 390 001. PAN : AADFK 7671 G अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sarkar Sharma, AR Revenue by : Shri V.K. Singh, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 27/06/2018 घोषणा क" तार"ख /Date of Pronouncement : 09/07/2018 O…

The Harsiddhi Co.Op. Credit Society Ltd., Mahisagar vs. The ITO, Lunawad

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

ITA 1863/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad09 Jul 2018AY 2014-15

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No. 1863/Ahd/2017 "नधा"रण वष"/Assessment Year: 2014-15 The Harsiddhi Co-Op. Credit Society Acit, Panchamahal Ltd. Vs Circle At & Po: Santrampur 389 260. Godhra. Dist. Mahisagar, Gujarat. Pan : Aabat 3395 D अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sarkar Sharma, Ar Revenue By : Shri V.K. Singh, Sr.Dr

For Appellant: Shri Sarkar Sharma, ARFor Respondent: Shri V.K. Singh, Sr.DR

Section 80PSection 80P(2)Section 80P(2)(a)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘D’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 1863/Ahd/2017 "नधा"रण वष"/Assessment Year: 2014-15 The Harsiddhi Co-op. Credit Society ACIT, Panchamahal Ltd. Vs Circle At & PO: Santrampur 389 260. Godhra. Dist. Mahisagar, Gujarat. PAN : AABAT 3395 D अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sarkar Sharma, AR Revenue by : Shri V.K. Singh, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 27/06/2018 घोषणा क" तार"ख /Date of Pronouncement…

Kaival Credit Co. Op. Society Ltd., Anand vs. The Income Tax Officer, Ward-2, Anand

In the result, appeal of the assessee is partly allowed

ITA 144/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad03 Jul 2018AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No. 144/Ahd/2017 ("नधा"रण वष" / Assessment Year : 2013-14)

For Appellant: Arti N. Shah, A.R

Section 80P(2)(a)

…terest derived on deposits under s. 80P(2)(a)(i) of the Act of surplus funds with the nationalized bank, in view of several decisions including the decision of Hon’ble Gujarat High Court in the case of SBI Employees Co-credit & Supply Society v. CIT(A) (2016) 389 ITR 578. Thus, we decline to interfere with the action of the Revenue on this score. However, we find merit in the alternative plea of the assessee for allowability of expenditure attributable to the earning of such income, if any. This aspect will require factual verification and accordingly remitted back to the file of the AO for deciding the allowabil…

Sindhudurga Zilla Madhyamik Adhyapak Va Ucchya Madhyamik Shikshak Va Shikshaketar Karmachari Sahakari Patpedhi Maryadit, Sindhudurg vs. Income-Tax Officer

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

ITA 154/PUN/2015[2011-12]Status: DisposedITAT Pune31 May 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Nikhil PathakFor Respondent: Shri Achal Sharma

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

…terest income does not qualify for deduction u/s. 80P(2)(a)(i) of the Act. To further strengthen his arguments the ld. DR placed reliance on the decision of Gujarat High Court in the case of State Bank of India (SBI) Vs. Commissioner of Income Tax reported as 389 ITR 578. The ld. DR submitted that the Hon‟ble Gujarat High Court reiterating the law laid down in the case of Totgars, Co-operative Sale Society Ltd. Vs. Income Tax Officer (supra) has held that the society engaged in providing credit facilities to its members, earning income from investments made in banks is not eligible for claiming deduction u/s. 80P…

The Citizen'S Credit Co. Op. Credit Society Ltd., Panchmahal vs. The Income Tax Officer, Ward-2, Vadodara

In the result, appeal of the assessee is dismissed

ITA 3/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad23 May 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 03/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 The Citizen’S Credit Co-Op. Society Ltd. Ito, Ward-2 Paraspar, Pavagadh Road Vs Godhara. Halol 389 350. Panchmahals.

For Appellant: Shri Parin Shah, ARFor Respondent: Shri Prasson Kabra, Sr.DR

Section 234ASection 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ - अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 03/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 The Citizen’s credit Co-op. Society Ltd. ITO, Ward-2 Paraspar, Pavagadh Road Vs Godhara. Halol 389 350. Panchmahals. PAN : AABAT 7221 Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Parin Shah, AR Revenue by : Shri Prasson Kabra, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 21/05/2018 घोषणा क" तार"ख /Date of Pronouncement : 23 /05/2018 O R…

Shri Jalaram Mahila Co. Op. Credit Society Ltd vs. The Income Tax Officer, Ward-3(1)(2), Baroda

In the result, appeal of the assessee is treated to be dismissed

ITA 3358/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 May 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 3358/Ahd/2016 "नधा"रण वष"/Assessment Year: 2013-14 Shri Jalaram Mahila Co-Op. Credit Ito, Ward 3(1)(2) Society Ltd. Vs Baroda. Jalaram Eye Hospital Compund Alipura, Bodeli 391 135 Dist. Chhotaudepur Pan : Aabas 5194 D अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Samir Parikh, Ar Revenue By : Shri Prasson Kabra, Sr.Dr

For Appellant: Shri Samir Parikh, ARFor Respondent: Shri Prasson Kabra, Sr.DR

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

…ction 80P(2)(a)(i) of the Income Tax Act. 3. At the outset, the ld.DR pointed out that issue involved in this appeal is squarely covered in favour of the Revenue by the decision of Hon’ble jurisdictional High Court in the case of State Bank of India Vs. CIT, 389 ITR 578 for the proposition that in case of co-op credit society, whose activity relates to receiving deposits and lending money to its members, interest derived by depositing surplus funds with the nationalized banks, not being attributable to the business carried on by the assessee, cannot be deducted under section 80P(2)(a)(i) of the Act. However, the…

The Amod Co. Op. Credit Society Limited, Anand vs. The Income Tax Officer, Ward-1(3)(1), Petlad

In the result, appeal of the assessee is treated to be dismissed

ITA 3216/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 May 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 3216/Ahd/2016 "नधा"रण वष"/Assessment Year: 2013-14 The Amod Co-Op. Credit Society Ltd. Ito, Ward-1(3)(1) Nani Khadki, Amod 388 160. Vs Petlad. Tal. Petlad, Dist. Anand

For Appellant: Shri Parin Shah, ARFor Respondent: Shri Prasson Kabra, Sr.DR

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

…est of the assessee, since the ld.DR for the Revenue pointed out that the issue involved in the appeal is otherwise also squarely covered against the assessee by the decision of the Hon’ble jurisdictional High Court in the case of CIT Vs. State Bank of India, 389 ITR 578, and this Tribunal has followed in number of cases decided earlier. 4. Having heard ld.DR and gone through the record, we find that Assessee is a cooperative society engaged in providing credit facilities to its members. The assessee has filed its return of income on 16.2.2014 declaring total income at Rs.NIL by claiming entire net income deduct…

Anyonya Sahayak Sahakari Mandali Ltd., Petlad vs. The Deputy Commissioner of Income Tax, Circle-1(3), Vadodara

In the result, appeal of the assessee is treated to be dismissed

ITA 3215/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad23 May 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 3215/Ahd/2016 "नधा"रण वष"/Assessment Year: 2013-14 Anyonya Sahayak Sahakari Mandali Ltd. Dcit, Cir.1(3) Sikkwalani Khadki Vs Vadodara. Nagarkuva Road Petland 388450. Pan : Aaaaa 5140 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Parin Shah, Ar Revenue By : Shri Prasson Kabra, Sr.Dr

For Appellant: Shri Parin Shah, ARFor Respondent: Shri Prasson Kabra, Sr.DR

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

…est of the assessee, since the ld.DR for the Revenue pointed out that the issue involved in the appeal is otherwise also squarely covered against the assessee by the decision of the Hon’ble jurisdictional High Court in the case of CIT Vs. State Bank of India, 389 ITR 578, and this Tribunal has followed in number of cases decided earlier. 4. Having heard ld.DR and gone through the record, we find that Assessee is a cooperative society engaged in providing credit facilities to its members. The assessee has filed its return of income on 16.9.2013 declaring total income at Rs.NIL by claiming entire net income deduct…