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

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

In the result, appeal of the assessee is dismissed

ITA 2985/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad23 May 2018AY 2012-13

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 2985/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13 The Karamsad Nagrik Co-Op. Credit Ito, Ward-2 Society Ltd. Vs Anand. Shree Vithal Seva Samaj Building Nr. Bus Stand Karamsad 388 325 Pan : Aaaat 4728 K. अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Bhargav Thakkar, Ar Revenue By : Shri Prasson Kabra, Sr.Dr

For Appellant: Shri Bhargav Thakkar, ARFor Respondent: Shri Prasson Kabra, Sr.DR

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

…e appeal inadmissible at the threshold. It has been pointed by the ld.DR that the issue involved in this appeal is otherwise also 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. 3. Having h…

Citizens Co. Op. Credit Society Ltd., Vadodara vs. The Income Tax Officer, Ward-3(1)(1), Vadodara

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

ITA 3518/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad18 May 2018AY 2013-14

For Appellant: NoneFor Respondent: Shri Saurabh Singh, 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 Rajpal Yadav, Judicial Member And Shri Amarjit Singh, Accountant Member ITA No. 3518 /Ahd/2016 Assessment Year 2013-14 Citizens Co-op. Credit The ITO, Society Ltd. Viswakara Ward-3(1)(1)(1), Bhuvan, Dadi, Batwada, Vs Vadodara Vadodara-390001 (Respondent) PAN: AAAAC0414F (Appellant) Revenue by: Shri Saurabh Singh, Sr. D.R. Assessee by: None Date of hearing : 10-05-2018 Date of pronouncement : 18-05-2018 आदेश/ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee’s appeal for A.Y. 2013-14, arises from order of the CIT(A)- 3,…

M/S. Orissa State Co-Operative Handicrafts Corporation Limited, Bhubaneswar vs. DCIT, Circle-4(1), Bhubaneswar

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

ITA 378/CTK/2017[2013-14]Status: DisposedITAT Cuttack17 May 2018AY 2013-14

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm M/S Orissa State Cooperative Vs. Dcit, Circle-4(1), Handicrafts Corporation Limited, Bhubaneswar At-D-2/3, Industrial Estate, Rasulgarh, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aaaao 0096 K (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Ambika Prasad Mohanty, Ar िाजस्व की ओर से /Revenue By : Shri D.K.Pradhan, Dr सुनवाई की तािीख / Date Of Hearing : 14/05/2018 घोषणा की तािीख/Date Of Pronouncement 17/05/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Assessee Has Filed This Appeal Against The Order Of Cit(A)-2, Bhubaneswar, Dated 28.06.2017, Passed In I.T.Appeal No.0039/2016-17, U/S.143(3)/250 Of The I.T.Act For The Assessment Year 2013-2014. 2. At The Time Of Hearing, Ld. Ar Of The Assessee Has Not Pressed The Grounds No.2 & 3 Of The Grounds Of Appeal. Accordingly, We Dismiss The Ground Nos.2&3 As Not Pressed. 3. The Effective Grounds Of Appeal Are As Under :- 1. Ld Cit (Appeals) Is Wrong & Unlawful In Upholding The Decision Of Assessing Officer With Respect To Disallowance Of Interest Claimed By The Assessee U/S 80P(2) (D). Interest Income From Orissa State Co Operative Bank Ltd Being Another Co Operative Society To The Tune Of Rs. 30,37,898/-. 4. Thus Ld Cit (Appeals) Is Wrong In Holding That, The Whole Of Rs. 44,02,128/- Interest Income Is Income From Fixed Deposits & Is Neither Deductible U/S 80P(2)(D) Nor Eligible For Set Off Against Carried Forward Loss For Being Income From Other Sources.

For Appellant: Shri Ambika Prasad Mohanty, ARFor Respondent: Shri D.K.Pradhan, DR

Section 143(1)Section 143(2)Section 143(3)Section 56(2)Section 72(1)Section 80P(2)Section 80P(2)(d)

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI N.S.SAINI, AM & SHRI PAVAN KUMAR GADALE, JM M/s Orissa State Cooperative Vs. DCIT, Circle-4(1), Handicrafts Corporation Limited, Bhubaneswar At-D-2/3, Industrial Estate, Rasulgarh, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No. : AAAAO 0096 K (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee by : Shri Ambika Prasad Mohanty, AR िाजस्व की ओर से /Revenue by : Shri D.K.Pradhan, DR सुनवाई की तािीख / Date of Hearing : 14/05/2018 घोषणा की तािीख/Date of Pronouncement 17/05/2018 आदेश…

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

In the result, the appeal of the assessee is dismissed

ITA 3128/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad16 May 2018AY 2012-13

For Appellant: Shri B.T. Thakkar, A.RFor Respondent: Shri Dinesh Singh, Sr. D.R

Section 143(2)Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80p(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “SMC” BENCH Before: Shri Rajpal Yadav, Judicial Member And Shri Amarjit Singh, Accountant Member Assessment Year 2012-13 M/s. The Anklav Mercantile ITO, Co-op. Credit Society Ltd., Ward-1(3)(1), Shopping Center, Near Bus Vs Petlad Stand, P.O. Anklav, Dist. (Respondent) Anand PAN AAAAT2888A (Appellant) Revenue by: Shri Dinesh Singh, Sr. D.R. Assessee by: Shri B.T. Thakkar, A.R. Date of hearing : 26-04-2018 Date of pronouncement : 16-05-2018 आदेश/ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee’s appeal for A.Y. 2012-13, arises from order of the…

Patan Jilla Shikshan Samitini Prathmik Shalaona Shikshakoni Dhiran & Grahak Sahakari Mandali Ltd., Patan vs. The Income Tax Officer, Ward-1, Patan

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

ITA 2765/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad16 May 2018AY 2011-12

For Appellant: Shri S.V. Agrawal, A.RFor Respondent: Shri Saurabh Singh, Sr. D.R

Section 143(2)Section 143(3)Section 234ASection 56Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH Before: Shri Rajpal Yadav, Judicial Member And Shri Amarjit Singh, Accountant Member ITA No. 2765 /Ahd/2014 Assessment Year 2011-12 Patan Jilla Shikshan Samiti The ITO, Prathmik Shalaona Ward-1, Shikshakoni, Dhiran & Vs Patan-384264 Grahak Sahakari Mandali (Respondent) Ltd. S-51, Shreedev Complex, Opp. Head Post Office, At & PO. Patan PAN: AABAT0179M (Appellant) Revenue by: Shri Saurabh Singh, Sr. D.R. Assessee by: Shri S.V. Agrawal, A.R. Date of hearing : 11-04-2018 Date of pronouncement : 16-05-2018 आदेश/ORDER PER : AMARJIT SINGH, ACCOUNTANT ME…

Income Tax Officer Ward-3(2), Thane vs. Eternity Co Op Housing Society Limited, Mumbai

In the result, the appeal of Revenue is dismissed

ITA 6159/MUM/2017[2013-14]Status: DisposedITAT Mumbai15 May 2018AY 2013-14

Bench: Sri Mahavir Singh

For Appellant: Anil Sathe, ARFor Respondent: PR Chauhan, DR

Section 143(3)Section 4Section 80PSection 80P(2)Section 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…

Kaliandas Udyog Bhavan Premises Co-Operative Society Limited, Mumbai vs. Income Tax Officer 21(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 6547/MUM/2017[2014-15]Status: DisposedITAT Mumbai25 Apr 2018AY 2014-15

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm Kaliandas Udyog Bhavan Premises Ito-21(2)(1), R.No. 107, Co-Op Society Ltd., Vs. Piramal Chambers, Parel, Near Century Bazar, Prabhadevi, Mumbai – 400 012. Mumbai – 400 025 Pan No. Aaaak 4678 B (Appellant) (Respondent) Assessee By : Shri Deepak P. Rikekar & Shri Ajit Gupte, Cas. Department By : Ms. N. Hemalatha – Sr. Dr Date Of Hearing : 31/01/2018. Date Of Pronouncement : 25/04/2018. O R D E R

For Appellant: Shri Deepak P. Rikekar &For Respondent: Ms. N. Hemalatha – Sr. DR

Section 143(2)Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

…n'ble High Court of Karnataka in the case of Pr.CIT vs. Totgars Co-operative Sale Society Ltd. (2017) 392 ITR 74(Kar).The ld. A.R further took support of the judgment of the Hon'ble High Court of Guajrat in the case of State Bank of India (SBI) vs. CIT (2016) 389 ITR 578 (Guj) and the CBDT Circular No. 14, dated 28/12/2006, wherein the issue as regards withdrawal of tax benefit available to certain co-operative banks had been deliberated upon by the CBDT. Lastly, the ld. AR in order to support his contention that the decision of one High Court is neither a binding precedent for another High Court nor for Courts o…

Shre Vaishnav Parivar Sahakari Mandali Ltd., Vadodara vs. The Income Tax Officer, Ward-3(1)(1), Vadodara

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

ITA 2747/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad12 Feb 2018AY 2013-14

For Appellant: NoneFor Respondent: Shri Prasoon Kabra, Sr. D.R

Section 143(2)Section 143(3)Section 234BSection 263Section 271(1)(c)Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on dated 11.08.2016 of the appellant as reproduced in earlier paragraph of this appeal order cannot be accepted in view of recent judgment of Hon'ble High Court of Gujarat as given in the case of State Bank of India (SBI) vs. Commissioner of Income tax (2016) 72 Taxmann.com 64. In this referred case, the assessee was a Co-Operative Society registered with the object of accepting deposits from salaried persons of State Bank of India, Gujarat region with a view to encourage thrift and providing credit facility to them. This assessee for AY 2009-10 had declared Nil income after claiming deduction u/s 80P. The AO all…

I.M.A. Vadodara Co.-Op. Credit Soc. Ltd., Vadodara vs. The Income Tax Officer, Ward-3(1)(2), Vadodara

The appeal of the assessee is partly allowed for statistical purposes

ITA 2754/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad21 Dec 2017AY 2013-14

For Appellant: Shri Sanket Bakshi, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R

Section 143(2)Section 143(3)Section 234BSection 271(1)(c)Section 56Section 80P(2)(a)

…n dated 26.08.2016 of the appellant as reproduced in earlier paragraph of this appeal order cannot be accepted in view of recent judgement of Hon'ble High Court of Gujarat as given in the case of State Bank of India (SBI) vs. Commissioner of Income tax (2016) 72 Taxmann.com 64. In this referred case, the assessee was a Co-Operative Society registered with the object of accepting deposits from salaried persons of State Bank of India, Gujarat region with a view to encourage thrift and providing credit facility to them. This assessee for A.Y.2009-10 had declared Nil income after claiming deduction u/s. 80P. The AO a…

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

The appeal of the assessee is partly allowed for statistical purposes

ITA 2753/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad21 Dec 2017AY 2013-14

For Appellant: Shri Sanket Bakshi, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R

Section 143(2)Section 143(3)Section 234BSection 271(1)(c)Section 56Section 80P(2)(a)

Shri Friends Co. Op. Credit Society Limited, Vadodara vs. The Income Tax Officer, Ward-3(1)(2), Vadodara

The appeal of the assessee is partly allowed for statistical purposes

ITA 2752/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad21 Dec 2017AY 2013-14

For Appellant: Shri Sanket Bakshi, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R

Section 143(2)Section 143(3)Section 234BSection 271(1)(c)Section 56Section 80P(2)(a)

Apollo Tyres Employees Multipuropse Consumer Co. Operative Credit Society Ltd., Vadodara vs. The Dy. Commissioner of Income Tax, Circle-3(1), Baroda

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

ITA 2696/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad18 Dec 2017AY 2013-14

For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R

Section 143(2)Section 143(3)Section 263Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…on dated 17.08.2016 of the appellant as reproduced in earlier paragraph of this appeal order cannot be accepted in view of recent judgment of Hon'ble High Court of Gujarat as given in the case of State Bank of India (SBI) vs. Commissioner of Income tax (2016) 72 Taxmann.com 64. In this referred case, the assessee was a Co-Operative Society registered with the object of accepting deposits from salaried persons of State Bank of India, Gujarat region with a view to encourage thrift and providing credit facility to them. This assessee for A.Y.2009-10 had declared Nil income after claiming deduction u/s.80P. The AO al…

The ITO, Ward-1(3)(5), Ahmedabad vs. M/S. State Bank of India Sup-Officials Co-Op. Credit Society Ltd., Ahmedabad

In the result, appeal filed by the department is dismissed

ITA 2184/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad04 Oct 2017AY 2010-11

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

For Respondent: Shri M.K. Patel, A.R

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

…s. State Bank of India Asst.Year –2010-11 For statistical purpose, this appeal is treated as allowed.” 5. We have further noticed that the judicial pronouncement of Hon’ble Gujarat High Court in the case of State Bank of India vs. Commissioner of Income Tax, 389 ITR 578 was delivered on 25th April 2016, where the Co-ordinate Bench of the ITAT vide ITA No.347/Ahd/2014 on 31/03/2016 had set aside the order u/s.263 passed by the ld. CIT-Ahmedabad on the basis of which the learned CIT(A) has held that the order passed by the AO had become infructuous. 6. In view of the above facts and circumstances, we considered t…

Anklav Taluka Employee Co.-Op. Credit and Consumer Society Ltd., Anand vs. The Income Tax Officer, Ward-1(3)(2), Anand

In the result, appeal filed by the assessee is dismissed

ITA 2331/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad27 Sept 2017AY 2012-13

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

For Respondent: Shri Madhusudan, Sr.D.R

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

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ *,Lk lh* अहमदाबाद । *,Lk *,Lk-,e *,Lk ,e ,e-lh* ,e lh* lh* IN THE INCOME TAX APPELLATE TRIBUNAL “ SMC ” BENCH, AHMEDABAD loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk lnL; ds le{kA loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk lnL; ds le{kA loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk lnL; ds le{kA ys[kk lnL; ds le{kA (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER) आयकर अपील सं./I.T.A. No. 2331/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13) Anklav Taluka Emp…

The ITO, Ward-3(1)(5), Baroda vs. Shree Shramjivi Nagrik Sahakari Mandli Ltd., Vadodara

In the result, the appeal is allowed for statistical purposes in the terms indicated above

ITA 291/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Aug 2017AY 2012-13

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

…the case in the light of the applicable legal position. 4. I find that so far as the core issue in appeal is concerned, it is now covered against the assessee by Hon’ble jurisdictional High Court’s judgment in the case of State Bank of India vs. CIT [(2016) 389 ITR 578 (Guj)]. The benefit of deduction under section 80P(2), therefore, deserves to be declined. In all fairness, however, what is to be declined deduction is not the gross receipt of interest from nationalized banks, but not income from such receipts. In case assessee has incurred any direct expenditure for earning this income, such expenditure is to…

The Ladol Vividh Karyakari Sahakari Mandli Ltd vs. The Income Tax Officer, Patan Ward- 5, Mehsana

In the result, appeal is dismissed

ITA 2223/AHD/2015[2012-13]Status: DisposedITAT Ahmedabad17 Aug 2017AY 2012-13

Section 56Section 80P

…ble for deduction u/s. 80P of the Act and is taxable u/s. 56 of the Act.” 3. Learned counsel for the assessee fairly accepts that the aforesaid issue is now covered, by Hon’ble jurisdictional High Court’s judgement in the case of State Bank of India vs. CIT, 389 ITR 578. Assessment Year: 2012-13 4. In view of the above discussions, the grievance raised by the assessee is clearly devoid of any legally sustainable merits. We, therefore, dismiss the grievance of the assessee and decline to interfere in the matter. 5. In the result, appeal is dismissed. Pronounced in the open court today on the 17th day of August,…

Orissa State Co-Operative Handicrafts Corporation Ltd., Bhubaneswar vs. DCIT, Circle-4(1), Bhubaneswar

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

ITA 66/CTK/2017[2012-13]Status: DisposedITAT Cuttack31 May 2017AY 2012-13

Bench: Shri N.S Sainiassessment Year : 2012-2013

For Appellant: Shri Biswa Ranjan Patnaik, ARFor Respondent: Shri D.K.Pradhan, DR

Section 56Section 80PSection 80P(2)Section 80P(2)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK ‘SMC’ BENCH, CUTTACK BEFORE SHRI N.S SAINI, ACCOUNTANT MEMBER Assessment Year : 2012-2013 Orissa State Co-operative Vs. DCIT, Circle 4(1), Handicrafts Corporation Bhubaneswar Limited, D-2/3, Industrial Estate, Rasulgarh. PAN/GIR No. AAAAO 0096 K (Appellant) .. ( Respondent) Assessee by : Shri Biswa Ranjan Patnaik, AR Revenue by : Shri D.K.Pradhan, DR Date of Hearing : 24 /05/ 2017 Date of Pronouncement : 31/05/ 2017 O R D E R This is an appeal filed by the assessee against the order of CIT(A)— 2, Bhubaneswar, dated 30.11.2016, for the assessment year 2012-13. 2…