Subramanian and Anr. v. Siemens India Ltd. and Anr.

Mangaidevi Sahakari Patpedhi Maryadit, Mumbai vs. ITO WD-22(2) (1), Mumbai

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

…igh Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-jurisdictional High Court’s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Thus, taking support from the aforesaid judicial pronouncement of the Hon’ble High Court of jurisdiction, we respectfully follow the view taken by the Hon'bl…

Ocean Gold Co-Op Hsg. Soc.Ltd, Mumbai vs. DCIT -CPC, Bengaluru

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

…igh Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-jurisdictional High Court’s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Thus, taking support from the aforesaid judicial pronouncement of the Hon’ble High Court of jurisdiction, we respectfully follow the view taken by the Hon'bl…

Ocean Gold Co-Op Hsg. Soc.Ltd, Mumbai vs. DCIT -CPC, Bengaluru

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

…igh Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-jurisdictional High Court’s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Thus, taking support from the aforesaid judicial pronouncement of the Hon’ble High Court of jurisdiction, we respectfully follow the view taken by the Hon'bl…

Shri Ganesh Krupa Co-Operative Housing Society Ltd, Mumbai vs. Asst Dir of Income Tax CPC Bengaluru/ the ITO WD 22 (1) (1), Mumbai

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

…igh Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-jurisdictional High Court’s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Thus, taking support from the aforesaid judicial pronouncement of the Hon’ble High Court of jurisdiction, we respectfully follow the view taken by the Hon'bl…

Model Mig Co.Operative Housing Society Ltd, Mumbai vs. Income Tax Officer- Ward -23(2) (3), Mumbai

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

…igh Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between 6 Model MIG-Cooperative Housing Society Limited the decisions of non-jurisdictional High Court’s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Thus, taking support from the aforesaid judicial pronouncement of the Hon’ble High Court of jurisdiction, w…

Model Mig Co.Operative Housing Society Ltd, Mumbai vs. ACIT -23(2), Mumbai

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

…igh Court had concluded that a co-operative society would not be entitled to claim of deduction under Sec. 80P(2)(d). We however find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between 6 Model MIG-Cooperative Housing Society Limited the decisions of non-jurisdictional High Court’s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Thus, taking support from the aforesaid judicial pronouncement of the Hon’ble High Court of jurisdiction, w…

The Mysore Co-Op. Housing Society Ltd., Mumbai vs. Pr. CIT-27, Navi Mumbai

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

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhthe Mysore Co-Op Vs. Pr.Cit-27, Housing Society Ltd, Room No -401, 4 Th Gateno2, Mysore Colony, Floor, Tower-6, Vashi Near Rcf Factory, Railway Station Anik,Off Majul Road, Commercial Complex, Chembur, Vashi,Navi Mumbai- Mumbai-400074 400073. Pan/Gir No. : Aacft7837N Appellant .. Respondent Appellant By : Mr.M.Subramanian.& Ms.Varsha Nanwani.Ar Respondent By : Mr. Ajay. Cit Dr Date Of Hearing 08.08.2022 Date Of Pronouncement 10.08.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed An Appeal Against The Order Of The Principal Commissioner Of Income Tax (Pr.Cit), Mumbai Passed U/S 263 Of The Act Dated 17.03.2021. Mysore Co-Op Housing Society Ltd. Mumbai. 2. The Brief Facts Of The Case Are That The Assesse Is A Cooperative Housing Society & Derives Income House Property & Interest From Bank & Provides Credit Facilities To Its Members. The Assessee Has Filed The Return Of Income For The A.Y 2015-16 Electronically On 26.10.2015 Disclosing A Total Income Of Rs.43,08,320/- After Claiming Deduction U/S 80P(2)(D) Of The Act Of Rs.85,80,391/-In Respect Of Interest Income Received On Deposits With Co-Op Banks. The Return Of Income Was Processed U/S 143(1) Of The Act. Subsequently The Case Was Selected For Limited Scrutiny Through Cass For Verification Of (I)Income From Heads Of Income Other Than Business/Profession Mismatch(Ii)Sales Turnover Mismatch & (Iii) Deduction Under Chapter Vi-A. The Assessing Officer (A.O.) Issued Notice U/S 143(2) & 142(1) Of The Act Along With The Questionnaire. In Compliance, The Ld.Ar Of The Assessee Appeared From Time To Time, Produced The Books Of Accounts & Submitted The Relevant Details & Documents & The Case Was Discussed.

…iety on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. We find that as held by the Hon'ble High Court of Bombay in the case of K. Subramanian and Anr. Vs. Siemens India Ltd. and Anr (1985) 156 ITR 11 (Bom), where there is a conflict between the decisions of non-jurisdictional High Court‟s, then a view which is in favour of the assessee is to be preferred as against that taken against him. Accordingly, taking support from the aforesaid judicial pronouncement of the Hon‟ble High Court of jurisdiction, we respectfully follow the view taken by the…

ITO -WD 26(2)(1), Mumbai vs. Larsen and Tourbo Kamgar Sahakari Patpedhi Maryadit, Mumbai

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahman आअसं.2562/मुं/2021 ("न.व. 2019-20) Income Tax Officer, Ward 26(2)(1), 315, 3Rd Floor, Kautilya Bhavan, Bandra (East), Mumbai – 400 051. ...... अपीलाथ" /Appellant बनाम Vs. Larsen An Toubro Kamgar Sahakari Patpedni Maryadid, Gate No.1, Larsen Toubro Campus, Saki Vihar Road, Powai, Mumbai 400 072. Pan: Aaabl-0014H. ..... ""तवाद"/Respondent C.O. No.56/Mum/2022 (Arising Out Of Ita No.2562/Mum/2021,A.Y. 2019-20) Larsen An Toubro Kamgar Sahakari Patpedni Maryadid, Gate No.1, Larsen Toubro Campus, Saki Vihar Road, Powai, Mumbai 400 072. .... Cross Objector बनाम Vs. Income Tax Officer, Ward 26(2)(1), 315, 3Rd Floor, Kautilya Bhavan, Bandra (East), Mumbai – 400 051 ...... Appellant In Appeal

…ecision rendered in the case of Totagars, Co-operative Sale Society (supra). 10. No judgement by the Hon’ble Jurisdictional High Court on this issue was brought to our notice. The Hon'ble Bombay High Court in the case of K. Subramanian vs. Siemens India Ltd. 156 ITR 11 has held that when two conflicting decisions of non-jurisdictional High Courts are available, the view that favours the assessee is to be preferred. Accordingly, following the first decision of Hon'ble Karnataka High Court in the case of Totagars Co-operative 5 C.O. NO.56/MUM/2022 Sale Society (supra) and the decision in the case of Hon'ble Guj…