Surat Vankar Sahakari Sangh Ltd. v. ACIT

72 Taxmann.com 169High Court2016#819 most cited

What is Surat Vankar Sahakari Sangh Ltd. v. ACIT authority for?

Interest income earned by a co-operative society from deposits with a co-operative bank is eligible for deduction under Section 80P(2)(d) of the Income Tax Act. A co-operative bank is considered a co-operative society for the purpose of this deduction.

126

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2016 to 2026.

Also referred to as

Surat Vankar Sahakari Sangh Ltd. v. ACIT · Section 80P(2)(d) · co-operative society deduction · interest income co-operative bank · co-operative bank as co-operative society · investment with co-operative societies · Gujarat High Court · eligibility Section 80P · income tax deduction

Also reported as

421 ITR 134

Sections most often in play

Section 80P(2)(d)Section 263Section 142(1)Section 143(3)Section 250Section 80P(2)(a)(i)Section 80P(4)Section 143(2)

Issues it is cited on

section 80(p)section 56(i)(ccv)section 80(p)(2)(d)section 80(p)(2)section 194a(3)(v)section 80p(1)section 2(19)section 80p(2)(c)section 80p(2)(d)section 80p(2)section 80p(4)section 80p(2)(a)

Judgments citing Surat Vankar Sahakari Sangh Ltd. v. ACIT

Bardoli Janta Cooperative Credit Society Ltd., Bardoli vs. Pr.CIT-2, Surat

In the result, the grounds of appeal raised by the assessee are partly allowed on the primary submissions of the ld AR for the assessee

ITA 302/SRT/2019[2014-15]Status: DisposedITAT Surat17 Jan 2022AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Bardoli Janta Cooperative Credit The Principal Commissioner Of Society Ltd., Income Tax-2, Surat. Vs 94, Mudit Palace, Nr. Janta Society, Station Road, Bardoli, Surat – 394 601. Pan: Aaaab 1355 J Email Id; Srshethtax@Gmail.Com Appellant/ Assessee Respondent/ Revenue

Section 143Section 143(3)Section 254(1)Section 263Section 80Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Hearing in Virtual Court) Bardoli Janta Cooperative Credit The Principal Commissioner of Society Ltd., Income Tax-2, Surat. Vs 94, Mudit Palace, Nr. Janta Society, Station Road, Bardoli, Surat – 394 601. PAN: AAAAB 1355 J Email Id; srshethtax@gmail.com Appellant/ Assessee Respondent/ Revenue Assessee by Shri Sapnesh Sheth – CA Revenue by Shri H.P.Meena– CIT-DR 24/12/2021 Date of hearing 17/01/2022 Date of pronouncement Order under section 254(1) of Income Tax Act PER PAW…

Palsana Gram Sewa Sahkari Samiti Ltd., Jaipur vs. PCIT-2, Jaipur

In the result, all these three appeals of the assessee are allowed

ITA 37/JPR/2021[2012-13]Status: DisposedITAT Jaipur02 Nov 2021AY 2012-13

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 35 To 37/Jp/2021 Assessment Years: 2010-11 To 2012-13 Palsana Gram Sewa Sahkari Samiti Cuke Pr.Cit-2, Vs. Limited, Jaipur. Village- Palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) Pan No.: Aabap 8390 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Shrawan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Pr.Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Assessee Against The Separate Order Of The Ld. Pr.Cit-2, Jaipur All Dated 31/03/2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2010-11 To 2012-13. 2. The Hearing Of The Appeal Was Concluded Through Video Conference In View Of The Prevailing Situation Of Covid-19 Pandemic.

For Appellant: Shri Shrawan Kr. Gupta (Adv)For Respondent: Shri B.K. Gupta (Pr.CIT-DR)
Section 143(2)Section 147Section 148Section 263Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 35 to 37/JP/2021 Assessment Years: 2010-11 to 2012-13 Palsana Gram Sewa Sahkari Samiti cuke Pr.CIT-2, Vs. Limited, Jaipur. Village- palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) PAN No.: AABAP 8390 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Shrawan Kr. Gupta (Adv) jktLo dh vksj ls@ Revenue by : Shri B.K.…

Palsana Gram Sewa Sahkari Samiti Ltd., Palasana vs. PCIT-2, Jaipur

In the result, all these three appeals of the assessee are allowed

ITA 36/JPR/2021[2011-12]Status: DisposedITAT Jaipur02 Nov 2021AY 2011-12

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 35 To 37/Jp/2021 Assessment Years: 2010-11 To 2012-13 Palsana Gram Sewa Sahkari Samiti Cuke Pr.Cit-2, Vs. Limited, Jaipur. Village- Palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) Pan No.: Aabap 8390 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Shrawan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Pr.Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Assessee Against The Separate Order Of The Ld. Pr.Cit-2, Jaipur All Dated 31/03/2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2010-11 To 2012-13. 2. The Hearing Of The Appeal Was Concluded Through Video Conference In View Of The Prevailing Situation Of Covid-19 Pandemic.

For Appellant: Shri Shrawan Kr. Gupta (Adv)For Respondent: Shri B.K. Gupta (Pr.CIT-DR)
Section 143(2)Section 147Section 148Section 263Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 35 to 37/JP/2021 Assessment Years: 2010-11 to 2012-13 Palsana Gram Sewa Sahkari Samiti cuke Pr.CIT-2, Vs. Limited, Jaipur. Village- palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) PAN No.: AABAP 8390 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Shrawan Kr. Gupta (Adv) jktLo dh vksj ls@ Revenue by : Shri B.K.…

Palsana Gram Sewa Sahkari Samiti Ltd., Palsana vs. PCIT-2, Jaipur

In the result, all these three appeals of the assessee are allowed

ITA 35/JPR/2021[2010-11]Status: DisposedITAT Jaipur02 Nov 2021AY 2010-11

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 35 To 37/Jp/2021 Assessment Years: 2010-11 To 2012-13 Palsana Gram Sewa Sahkari Samiti Cuke Pr.Cit-2, Vs. Limited, Jaipur. Village- Palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) Pan No.: Aabap 8390 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Shrawan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Pr.Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Assessee Against The Separate Order Of The Ld. Pr.Cit-2, Jaipur All Dated 31/03/2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2010-11 To 2012-13. 2. The Hearing Of The Appeal Was Concluded Through Video Conference In View Of The Prevailing Situation Of Covid-19 Pandemic.

For Appellant: Shri Shrawan Kr. Gupta (Adv)For Respondent: Shri B.K. Gupta (Pr.CIT-DR)
Section 143(2)Section 147Section 148Section 263Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 35 to 37/JP/2021 Assessment Years: 2010-11 to 2012-13 Palsana Gram Sewa Sahkari Samiti cuke Pr.CIT-2, Vs. Limited, Jaipur. Village- palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) PAN No.: AABAP 8390 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Shrawan Kr. Gupta (Adv) jktLo dh vksj ls@ Revenue by : Shri B.K.…

Shree Madhi Surali Vibhag Nagrik Sahakari Dhiran Mandali Ltd, Surat vs. Pr.CIT-2, Surat

In the result, appeal of the assessee is allowed

ITA 305/SRT/2019[2014-15]Status: DisposedITAT Surat15 Sept 2021AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Shree Madhi Surali Vibhag The Principal Nagriksahakari Dhiran Mandali Commissioner Of Income- Vs. Ltd., Tax-2, Surat. At & Po Madhi, Tal. Bardoli, Surat – 394340. Pan: Aadas 5644 L Applicant Respondent

Section 142(1)Section 143(3)Section 254(1)Section 263Section 80Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Hearing in Virtual Court) Shree Madhi Surali Vibhag The Principal nagrikSahakari Dhiran Mandali Commissioner of Income- Vs. Ltd., tax-2, Surat. At & PO Madhi, Tal. Bardoli, Surat – 394340. PAN: AADAS 5644 L Applicant Respondent Assessee by Shri Yogesh Gamit-Advocate with Shri Shaunak Javeri CA. Revenue by Shri Ritesh Mishra – CIT(DR) Date of hearing 15.09.2021 Date of pronouncement 15.09.2021 Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1.…

M/S Doshi Palace Co - Operative Hsg. Soc. Ltd., Mumbai vs. ACIT - 19(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 3510/MUM/2019[2015-16]Status: DisposedITAT Mumbai20 Aug 2021AY 2015-16

Bench: Shri Vikas Awasthyआअसं. 3510/मुं/2019 (िन.व.2015-16) M/S Doshi Palace Co-Operative Hsg Soc. Ltd. 24, Walkeshwar Road, Walkeshwar, Mumbai-400006. ...... अपीलाथ" /Appellant Pan: Aaaad3401H बनाम Vs. Acit-19(1), Matru Mandir, ..... "ितवाद"/Respondent Mumbai-400007 अपीलाथ" "ारा/ Appellant By : None "ितवाद" "ारा/Respondent By : Sh. Sanjay J. Sethi सुनवाई क" ितिथ/ Date Of Hearing : 23/06/2021 घोषणा क" ितिथ/ Date Of Pronouncement : 20/08/2021 आदेश/ Order Per Vikas Awasthy, J.M: This Appeal By The Assessee Is Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [Hereinafter Referred To As ‘The Cit(A)’] Dated 14.03.2019 For The Assessment Year (Ay) 2015-16. The Solitary Ground Raised By The Assessee In Appeal Is Against Rejection Of Assessee’S Claim Of Deduction Under Section 80P(2)(D) Of The Income Tax Act, 1961 [Hereinafter Referred To As ‘The Act’].

For Appellant: NoneFor Respondent: Sh. Sanjay J. Sethi
Section 80PSection 80P(2)(d)Section 80P(4)

…ty 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act, co-operative bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134. 8. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars, Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the आअसं. 3510/मुं/2019 (िन.व.2015-16) Act.…

M/S. Bardoli Vibhag Gram Vikas Co.-Op.Credit Society Ltd., Surat vs. The Pr.. Commissioner of Income Tax, -2, Surat

In the result, appeal of the assessee is allowed

ITA 283/SRT/2019[2014-15]Status: DisposedITAT Surat11 May 2021AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) आ.अ.सं./I.T.A No.283/Srt/2019 "नधा"रण वष"/Assessment Year: 2014-15 Bardoli Vibhag Gram Vikas Co.Op. Vs The Principal Credit Society Ltd., Commissioner Of Income Sahakar Sadan, Station Road, Tax-2, Surat. Bardoli, Surat. [Pan: Aaatb 8135 B] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee By Shri Mitesh Modi – Ca राज"वक"ओर से /Revenue By Shri Ritesh Mishra – Cit-Dr सुनवाई की तारीख/ Date Of Hearing: 29.04.2021 उ"घोषणा क" तार"ख/Pronouncement On: 12.05.2021 आदेश /O R D E R Per Pawan Singh, Judicial Memeber: 1. This Appeal By The Assessee Is Directed Against The Order Of Ld. Principal Commissioner Of Income Tax-2, Surat Hereinafter Referred As “Ld. Pcit”, Passed Under Section 263 Of Income- Tax Act (Act) Dated 26.03.2019 For The Assessment Year (Ay) 2014-15. 2. Brief Facts Of The Case Are That The Assessee Is A Co-Operative Society Engaged In The Business Of Providing Credit Facility To Its Members By Accepting The Deposits From Members & Lending Money Them Too. The Assessee Filed Its Return Of Income For A.Y. 2014-15 On 21.08.2013 Declaring Nil Income. In The Computation Of Income, The Assessee Claimed Deduction 80P Of The Act Of Rs.7,03,56,728/-. The Return Of Income Was Bardoli Vibhag Gram Vikas Cooperative Credit Society Ltd., Vs. Pcit

Section 142(1)Section 143(3)Section 263Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपील"य अ"धकरण, सुरत "यायपीठ, सुरत INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Virtual Hearing) आ.अ.सं./I.T.A No.283/SRT/2019 "नधा"रण वष"/Assessment Year: 2014-15 Bardoli Vibhag Gram Vikas Co.Op. Vs The Principal Credit Society Ltd., Commissioner of Income Sahakar Sadan, Station Road, Tax-2, Surat. Bardoli, Surat. [PAN: AAATB 8135 B] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee by Shri Mitesh Modi – CA राज"वक"ओर से /Revenue by Shri Ritesh Mishra – CIT-DR सुनवाई की तारीख/ Date of hearing: 29.04.2021 उ"घ…

Food Corporation of India Employees Co Op Credit Soc Ltd., Mumbai vs. ITO Ward 32 (1)(5), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 4622/MUM/2019[2014-15]Status: DisposedITAT Mumbai09 Apr 2021AY 2014-15

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 4622/मुं/2019 ("न.व. 2014-15) आअसं. 4621/मुं/2019 ("न.व. 2015-16)

For Appellant: NoneFor Respondent: Shri Sanjay J Sethi
Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ty 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act, co-operative bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134. 11. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars, Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention her…

Food Corporation Employees Co Op Credit Soc Ltd., Mumbai vs. ITO 32 (1)(5), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 4621/MUM/2019[2014-15]Status: DisposedITAT Mumbai09 Apr 2021AY 2014-15

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 4622/मुं/2019 ("न.व. 2014-15) आअसं. 4621/मुं/2019 ("न.व. 2015-16)

For Appellant: NoneFor Respondent: Shri Sanjay J Sethi
Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ty 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act, co-operative bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134. 11. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars, Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention her…

Siddhivinayak Co-Op. Ind. Premises Society Ltd., Mumbai vs. ITO 26(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 4575/MUM/2019[F.Y. 2013-14 (1 Q - 26Q)]Status: DisposedITAT Mumbai09 Apr 2021

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 4575/मुं/2019 ("न.व. 2013-14) Siddhivinayak Co-Operative Industrial Premises Society Limited, Bldg. No.8, Jogani Indstrial Complex, Plot No.1, Survey No.2, Chunabhatti, Mumbai 400 022 Pan: Aaajs 2579J ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 26(3)(2), Aaykar Bhavan, M.K.Road, Churchgate, Mumbai 400 020 ..... ""तवाद"/Respondent

For Appellant: Shri Priyesh S. KhiradFor Respondent: Shri Sanjay J Sethi
Section 80PSection 80P(2)(d)

…ose of section 7 आअसं. 4575/मुं/2019 ("न.व. 2013-14) 80P(2)(d) of the Act, co-operative bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT, 421 ITR 134. 9. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars, Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here…

ITO-21(1)(3), Mumbai vs. M/S. Casa Grande Co-Op Hsg. Soc. Ltd., Mumbai

In the result, the appeal of Revenue is dismissed

ITA 6009/MUM/2019[2016-17]Status: DisposedITAT Mumbai31 Mar 2021AY 2016-17
Section 143(3)Section 80P(2)(d)

…nataka) has held that for the purpose of section 80P(2)(d) of the Act a cooperative bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT [2020] 421 ITR 134 (Gujarat). 4.1 On the same issue the Hon'ble Karnataka High court in the case of PCIT vs. Totagars Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention…

The Krishna District Milk Producers Mutually Aided Co-Operative Union Limited, Vijayawada vs. The Pr. Commissioner of Income Tax, Vijayawada

ITA 43/VIZ/2020[2013-14]Status: DisposedITAT Visakhapatnam22 Mar 2021AY 2013-14

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: Shri C.Subrahmanyam, FCAFor Respondent: Shri D.K. Sonawal, CIT DR
Section 263

…ded Co-op. Union Ltd.) was claimed to be earned as income of Rs. 4,00,919/- on account of interest received from Nawanshar Central Co-operative Bank. 13.10 Further, the Hon'ble Gujarat High Court in the case of Surat Vankar Sahakari Sangh Ltd. v. ACIT [(2020) 421 ITR 134 (Guj.)] also allowed the deduction claimed u/sec. 80P(2)(d) as interest earned from the co-operative bank. Various co-ordinate benches of the tribunal have also allowed the deduction claimed u/sec. 80P(2)(d) in respect of interest earned from co-operative banks. 13.11. No doubt there are judgments on both sides to the issue, however, the Hon'ble…

The Krishna District Milk Producers Mutually Aided Co-Operative Union Limited, Vijayawada vs. The Assistant Commissioner of Income Tax, Circle-1(1), Vijayawada

ITA 42/VIZ/2020[2013-14]Status: DisposedITAT Visakhapatnam22 Mar 2021AY 2013-14

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: Shri C.Subrahmanyam, FCAFor Respondent: Shri D.K. Sonawal, CIT DR
Section 263

…ded Co-op. Union Ltd.) was claimed to be earned as income of Rs. 4,00,919/- on account of interest received from Nawanshar Central Co-operative Bank. 13.10 Further, the Hon'ble Gujarat High Court in the case of Surat Vankar Sahakari Sangh Ltd. v. ACIT [(2020) 421 ITR 134 (Guj.)] also allowed the deduction claimed u/sec. 80P(2)(d) as interest earned from the co-operative bank. Various co-ordinate benches of the tribunal have also allowed the deduction claimed u/sec. 80P(2)(d) in respect of interest earned from co-operative banks. 13.11. No doubt there are judgments on both sides to the issue, however, the Hon'ble…

The Sasme Co-Op. Society Ltd, Surat vs. Pr, CIT-2, Surat

In the result, appeal of the assessee is allowed

ITA 185/SRT/2020[2015-16]Status: DisposedITAT Surat03 Mar 2021AY 2015-16

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.Ta No.185/Srt/2020 िनधा"रण वष"/Assessment Year: 2015-16 The Sasme Co-Op. Society Ltd, Vs. The Principal Sasme Bhavan Kotsafil Main Commissioner Of Income Road, Surat – 395 003. Tax, Surat-2. [Pan: Aaaas 3507 M] अपीलाथ" / Appellant ""थ"/Respondent िनधा"रतीकीओर से/Assessee By Shri Hiren R.Vepari – Ar राज"कीओर से /Revenue By Shri Ritesh Mishra - Cit(Dr) सुनवाई की तारीख/ Date Of Hearing: 25.02.2021 उद्घोषणा की तारीख/Pronouncement On: 03.03.2021 आदेश /O R D E R Per Pawan Singh, Judicial Memeber: 1. This Appeal By Assessee Is Directed Against The Order Of Learned Principal Commissioner Of Income Tax, Surat-2, (Pcit), Passed Under Section 263 Of Income-Tax Act Dated 16Th March 2020. The Assessee Has Raised Following Grounds Of Appeal: “(1) The Principal Commissioner Of Income Tax Was Not Justified In Assuming Jurisdiction Under Section 263 Without Satisfying Conditions. (2) The Appellant Submits That The Principal Commissioner Of Income Tax Ought Not To Have Invoked Provision Of Section 263 On The Very Same Point On Which The Assessing Officer Had Made Enquiry & Had Taken Position. (3) The Appellant Further Submit The Principal Commissioner Of Income Tax Did Not Appreciate The Subtle Portion Of Law We Are Proceeding Under Section 263 Do Not Extend To Sustain A Principal Commissioner Of Income Tax Office To Take A Different View In The Same Matter. (5) The Learned Pcit Was Driving By Extraneous Consideration In Not Dropping The Proceeding Under Section 263.”

Section 143(3)Section 263Section 80P(2)(d)

…आयकर अपीलीय अिधकरण, सुरत "ायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, Hon'ble JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, Hon'ble ACCOUNTANT MEMBER (Virtual Hearing) आ.अ.सं./I.TA No.185/SRT/2020 िनधा"रण वष"/Assessment Year: 2015-16 The Sasme Co-Op. Society Ltd, Vs. The Principal Sasme Bhavan Kotsafil Main Commissioner of Income Road, Surat – 395 003. Tax, Surat-2. [PAN: AAAAS 3507 M] अपीलाथ" / Appellant ""थ"/Respondent िनधा"रतीकीओर से/Assessee by Shri Hiren R.Vepari – AR राज"कीओर से /Revenue by Shri Ritesh Mishra - CIT(DR) सुनवाई की तारीख/ Date of hearing: 25.02.2021…

M/S. Ajmer Zila Dugdh Utpadak Sahakari Sangh Ltd., Ajmer vs. Pr.CIT, Ajmer

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

ITA 285/JPR/2020[2012-13]Status: DisposedITAT Jaipur01 Mar 2021AY 2012-13
For Appellant: Sh. Sunil Porwal (CA)For Respondent: Smt. Manisha Chandra (CIT)
Section 139Section 143(3)Section 148Section 263Section 43BSection 80Section 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 285/JP/2020 fu/kZkj.k o"kZ@Assessment Year :2012-13 cuke Ajmer Zila Dugdh Utpadak Sahkari Pr. Commissioner of Vs. Sangh Ltd. Opp. HMT, Beawar Road, Income Tax, Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AABAA0141Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sm…

M/S Raheja Excelsior Co-Operative Housing Society Ltd., Mumbai vs. ITO 19(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 3337/MUM/2019[2015-16]Status: DisposedITAT Mumbai24 Nov 2020AY 2015-16

Bench: Shri Vikas Awasthyआअसं. 3337/मुं/2019 ("न.व.2015-16) M/S. Raheja Excelsior Co-Operative Housing Society Ltd., C.S. No.1/404, Raheja Raheja Excelsior, Tardeo Div., 63, Tardeo Road, Tardeo, Mumbai 400 034. : अपीलाथ"/ Appellant Pan: Aabar9580J बनाम/ Vs.

For Appellant: NoneFor Respondent: Ms Kavita P. Kaushik
Section 143(3)Section 80PSection 80P(2)(d)

…ety 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act, Co-operative Bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT 421 ITR 134. 6. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars Co-operative Sale Society 395 ITR 611 has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here that the Hon…

Danda Co- Op Credit Society Limited, Mumbai vs. ITO, Ward - 22(1)(2), Mumbai

In the result, appeal by the assessee is allowed

ITA 3240/MUM/2019[2012-13]Status: DisposedITAT Mumbai23 Nov 2020AY 2012-13

Bench: Shri Vikas Awasthyआअसं. 3240/मुं/2019 ("न.व.2012-13) Danda Co-Op Credit Society Ltd. 239, Valmiki, Khar Danda, Khar(West), Mumbai 400 052 : अपीलाथ"/ Appellant Pan: Aaaad3039M बनाम/ Vs. The Income Tax Officer – 22(1)(2) Mumbai 400 007 : ""थ"/ Respondent Assessee By : None Revenue By : Ms Kavita P. Kaushik

For Appellant: NoneFor Respondent: Ms Kavita P. Kaushik
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ety 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act, Co-operative Bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT 421 ITR 134. 6. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here…

Om Sudarshan Chs Ltd., Mumbai vs. ITO 17(1)(5), Mumbai

In the result, appeal of the assessee is allowed

ITA 1950/MUM/2019[2014-15]Status: DisposedITAT Mumbai29 Oct 2020AY 2014-15

Bench: Shri Vikas Awasthy, Jm & Shri Rajesh Kumar, Am आयकर अपील सं./ Ita No. 1950/Mum/2019 (यिर्ाारण िर्ा / Assessment Year 2014-15) Om Sudarshan Co-Operative The Income Tax Officer Housing Society Ltd. Ward 17(2)(5), Ground Floor, Om Sudarshan Chs बिाम/ Mumbai Ltd, L.D. Ruparel Marg, Malabar Vs. Hill, Mumbai-400 006 (अपीलाथी / Appellant) (प्रत्यथी/ Respondent) स्थायी लेखा सं./Pan No. Aao0489L अपीलाथी की ओर से/ Appellant By : None प्रत्यथी की ओर से/ Respondent By : Shri Vodal Raj Singh, Dr सुििाई की तारीख / Date Of Hearing: 15.10.2020 घोर्णा की तारीख / Date Of Pronouncement: 29.10.2020

For Appellant: NoneFor Respondent: Shri Vodal Raj Singh, DR
Section 143(3)Section 80P(2)(d)

…ciety 392 ITR 74 has held that for the purpose of section 80P(2)(d) of the Act cooperative bank should be considered as cooperative society. Similar view has been taken by the Hon'ble Gujarat High court in the case of Surat Vankar Sahakari Sangh Ltd. vs. ACIT 421 ITR 134. 8. However, on the same issue Hon'ble Karnataka High court in the case of PCIT vs. Totagars Co-operative Sale Society 395 ITR 611 (Karnataka) has taken a contrary view holding that interest income earned from deposit with the cooperative bank does not qualify for deduction under section 80P(2)(d) of the Act. It would be relevant to mention here…

Bombay Mercantile Co. Op. Bank Ltd. Employees Co-Op. Credit Society Ltd., Mumbai vs. ITO 15(1)(2), Mumbai

In the result, the appeals filed by the assessee are hereby partly allowed

ITA 4824/MUM/2016[2012-13]Status: DisposedITAT Mumbai27 Oct 2020AY 2012-13

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. Nos.3583/Mum/2014 & 4824/Mum/2016 (निर्धारण वर्ा / Assessment Years:2010-11 & 2012-13) Bombay Mercantile Co-Op. बिधम/ Ito-15(1)(2) Bank Ltd. Room No.116, 1St Floor, Vs. Employees Co-Op. Credit Matru Mandir, Grant Road, Society Ltd. Mumbai-400007. Navratan Building, 69, P. D’Mello Road, Carnac Bunder, Mumbai-400009. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. :Aaajb0706E (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Vijay Joshi Revenue By: Ms. Kavita P. Kaushik (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 22/09/2020 घोषणा की तारीख /Date Of Pronouncement: 27/10/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Above Mentioned Appeals Against The Different Order Passed By The Commissioner Of Income Tax (Appeals) -26 & 28, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Ys. 2010-11 & 2012-13. Ita. No.3583/Mum/2014 2. The Assessee Has Filed The Present Appeal Against The Order Dated 24.02.2014 Passed By The Commissioner Of Income Tax (Appeals) -26, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. Ita Nos. 3583/M/2014 & 4824/M/2016 A.Ys. 2010-11 & 2012-13 3. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Vijay JoshiFor Respondent: Ms. Kavita P. Kaushik (Sr. DR)
Section 143(2)Section 801Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI RAJESH KUMAR, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. Nos.3583/Mum/2014 & 4824/Mum/2016 (निर्धारण वर्ा / Assessment Years:2010-11 & 2012-13) Bombay Mercantile Co-op. बिधम/ ITO-15(1)(2) Bank Ltd. Room No.116, 1st Floor, Vs. Employees Co-op. Credit Matru Mandir, Grant Road, Society Ltd. Mumbai-400007. Navratan Building, 69, P. D’mello Road, Carnac Bunder, Mumbai-400009. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. :AAAJB0706E (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: Shri Vijay Joshi Revenue by: Ms. Kavita P. Kaushik (Sr. DR…

DCIT, Circle-6, Jaipur vs. M/S. Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., Jaipur

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

ITA 1243/JPR/2019[2016-17]Status: DisposedITAT Jaipur28 Feb 2020AY 2016-17
For Appellant: Shri P. C. Parwal (CA)For Respondent: Shri B.K. Gupta (CIT)
Section 12ASection 56Section 80GSection 80PSection 80P(2)(d)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES ‘B’ JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 1178/JP/2019 fu/kZkj.k o"kZ@Assessment Year : 2016-17 cuke M/s Jaipur Zila Dugdh Utpadak DCIT, Vs. Sahakari Sangh Ltd., Jaipur Circle-06, Diary, Near Gandhi Nagar Jaipur Railway Station, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAAAJ0767G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No.1243/JP/2019 fu/kZkj.k o"kZ@Assessment Year : 20…