Surath Venkar Sahakari Sangh Ltd. v. CIT

79 ITR 722High Court1971#7992 most cited

What is Surath Venkar Sahakari Sangh Ltd. v. CIT authority for?

Interest income earned by a co-operative society on investment, not connected with its primary business activities, is taxable as income from other sources, not eligible for deduction under Section 80P. The society's objects must contemplate the investment for it to be considered part of its business.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2009 to 2025.

Also referred to as

Surath Venkar Sahakari Sangh Ltd v CIT · 79 ITR 722 · Section 80P · Section 56 · interest income · co-operative society · income from other sources · business income · Gujarat High Court

Sections most often in play

Section 143(3)Section 143(3A)Section 143(3B)Section 144BSection 194A(3)(v)Section 2(19)Section 250Section 36(1)(va)

Issues it is cited on

section 80p(2)(c)(ii)within four yearsmistake apparent from recordsection 80p(2)(a)section 80p(2)(d)section 80p(2)(a)(i)section 80p(2)section 56section 143(1)(a)section 28section 80pincome from other sources

Judgments citing Surath Venkar Sahakari Sangh Ltd. v. CIT

The DCIT, Cir-3(2) Gangtok, Gangtok Sikkim vs. Sikkim State Cooperative Supply and Marketing Federation Limited, Gangtok Sikkim

ITA 1583/KOL/2024[2020-21]Status: DisposedITAT Kolkata18 Jun 2025AY 2020-21

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 250Section 80P

…on a commercial basis or net profit. A Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajasthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of In…

Deputy Commissioner of Income Tax, Cir-3(2), Gangtok, Gangtok Sikkim vs. Sikkim State Cooperative Supply and Marketing Federation Limited, Gangtok Sikkim

ITA 1582/KOL/2024[2018-19]Status: DisposedITAT Kolkata18 Jun 2025AY 2018-19

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 250Section 80P

…on a commercial basis or net profit. A Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajasthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of In…

Shree Jay Limbach Co.Op. Credit Society Ltd., Ahmedabad vs. The ITO, Ward-1(2)(3), Ahmedabad

The appeals of the assessee are allowed for statistical purposes in above terms

ITA 573/AHD/2023[2013-14]Status: DisposedITAT Ahmedabad28 Mar 2024AY 2013-14

Bench: Mrs. Annapurna Gupta

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri N.J. Vyas, Sr DR
Section 143(1)Section 154Section 250Section 28Section 56Section 80PSection 80P(2)Section 80P(2)(d)

…is as per the Hon'ble I.T.A.T Bangalore Bench in the case of Secretary Hotel Owners Credit Co-op Society Ltd. Vs. I.T.O; (2022); Tax pub. (DT) 1025 and as per the Hon'ble Gujarat High Court's decision in the case of Surat Vankar Sahakari Sangh Ltd. Vs. C.I.T; 79 ITR 722. (ii) He should have also given direction to allow first Rs. 50,000/- from the taxable income as per the provisions of Sec. 80P(2)(c)(ii) of the I.T. Act, 1961. (iii) The Hon'ble CIT(A) should have also given direction to apply slab rate (first Rs. 10,000/-……10%; Rs. 10,000/- to Rs. 20,000/- ….20% and on balance 30%). The Ld. A.O has applied flat…

Shree Jay Limbach Co.Op. Credit Society Ltd., Ahmedabad vs. The ITO, Ward-1(2)(3), Ahmedabad

The appeals of the assessee are allowed for statistical purposes in above terms

ITA 572/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad28 Mar 2024AY 2012-13

Bench: Mrs. Annapurna Gupta

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri N.J. Vyas, Sr DR
Section 143(1)Section 154Section 250Section 28Section 56Section 80PSection 80P(2)Section 80P(2)(d)

…is as per the Hon'ble I.T.A.T Bangalore Bench in the case of Secretary Hotel Owners Credit Co-op Society Ltd. Vs. I.T.O; (2022); Tax pub. (DT) 1025 and as per the Hon'ble Gujarat High Court's decision in the case of Surat Vankar Sahakari Sangh Ltd. Vs. C.I.T; 79 ITR 722. (ii) He should have also given direction to allow first Rs. 50,000/- from the taxable income as per the provisions of Sec. 80P(2)(c)(ii) of the I.T. Act, 1961. (iii) The Hon'ble CIT(A) should have also given direction to apply slab rate (first Rs. 10,000/-……10%; Rs. 10,000/- to Rs. 20,000/- ….20% and on balance 30%). The Ld. A.O has applied flat…

Shree Jay Limbach Co.Op. Credit Society Ltd., Ahmedabad vs. The ITO, Ward-1(2)(3), Ahmedabad

The appeals of the assessee are allowed for statistical purposes in above terms

ITA 571/AHD/2023[2011-12]Status: DisposedITAT Ahmedabad28 Mar 2024AY 2011-12

Bench: Mrs. Annapurna Gupta

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri N.J. Vyas, Sr DR
Section 143(1)Section 154Section 250Section 28Section 56Section 80PSection 80P(2)Section 80P(2)(d)

…is as per the Hon'ble I.T.A.T Bangalore Bench in the case of Secretary Hotel Owners Credit Co-op Society Ltd. Vs. I.T.O; (2022); Tax pub. (DT) 1025 and as per the Hon'ble Gujarat High Court's decision in the case of Surat Vankar Sahakari Sangh Ltd. Vs. C.I.T; 79 ITR 722. (ii) He should have also given direction to allow first Rs. 50,000/- from the taxable income as per the provisions of Sec. 80P(2)(c)(ii) of the I.T. Act, 1961. (iii) The Hon'ble CIT(A) should have also given direction to apply slab rate (first Rs. 10,000/-……10%; Rs. 10,000/- to Rs. 20,000/- ….20% and on balance 30%). The Ld. A.O has applied flat…

Shree Jay Limbach Co.Op. Credit Society Ltd., Ahmedabad vs. The ITO, Ward-1(2)(3), Ahmedabad

The appeals of the assessee are allowed for statistical purposes in above terms

ITA 570/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad28 Mar 2024AY 2010-11

Bench: Mrs. Annapurna Gupta

For Appellant: Shri H.V. Doshi, ARFor Respondent: Shri N.J. Vyas, Sr DR
Section 143(1)Section 154Section 250Section 28Section 56Section 80PSection 80P(2)Section 80P(2)(d)

…is as per the Hon'ble I.T.A.T Bangalore Bench in the case of Secretary Hotel Owners Credit Co-op Society Ltd. Vs. I.T.O; (2022); Tax pub. (DT) 1025 and as per the Hon'ble Gujarat High Court's decision in the case of Surat Vankar Sahakari Sangh Ltd. Vs. C.I.T; 79 ITR 722. (ii) He should have also given direction to allow first Rs. 50,000/- from the taxable income as per the provisions of Sec. 80P(2)(c)(ii) of the I.T. Act, 1961. (iii) The Hon'ble CIT(A) should have also given direction to apply slab rate (first Rs. 10,000/-……10%; Rs. 10,000/- to Rs. 20,000/- ….20% and on balance 30%). The Ld. A.O has applied flat…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

ITA 551/BANG/2023[2018-19]Status: DisposedITAT Bangalore29 Sept 2023AY 2018-19

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

For Appellant: Shri Prasanna, AdvocateFor Respondent: Shri V. Parithivel, JCIT (DR)
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on a commercial basis or net profit. A. Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajsthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of Indi…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

ITA 550/BANG/2023[2017-18]Status: DisposedITAT Bangalore29 Sept 2023AY 2017-18

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

For Appellant: Shri Prasanna, AdvocateFor Respondent: Shri V. Parithivel, JCIT (DR)
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on a commercial basis or net profit. A. Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajsthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of Indi…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

ITA 549/BANG/2023[2015-16]Status: DisposedITAT Bangalore29 Sept 2023AY 2015-16

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

For Appellant: Shri Prasanna, AdvocateFor Respondent: Shri V. Parithivel, JCIT (DR)
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on a commercial basis or net profit. A. Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajsthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of Indi…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

ITA 548/BANG/2023[2014-15]Status: DisposedITAT Bangalore29 Sept 2023AY 2014-15

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

For Appellant: Shri Prasanna, AdvocateFor Respondent: Shri V. Parithivel, JCIT (DR)
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on a commercial basis or net profit. A. Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajsthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of Indi…

Sri Jihveshwara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward 2(2)(5), Bangalore

In the result, this issue in ITA No

ITA 547/BANG/2023[2013-14]Status: DisposedITAT Bangalore29 Sept 2023AY 2013-14

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

For Appellant: Shri Prasanna, AdvocateFor Respondent: Shri V. Parithivel, JCIT (DR)
Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on a commercial basis or net profit. A. Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajsthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of Indi…

Sharanabasaveshwar Credit Souhard Sahakri Ni Halingali, Bagalkot vs. Assistant Commissioner of Income-Tax, Circle-1, Bijapur

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

ITA 107/BANG/2023[2018-19]Status: DisposedITAT Bangalore17 May 2023AY 2018-19
For Appellant: Shri Veeranna M. Murgod, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…on a commercial basis or net profit. A. Venkata Subbarao v. State of Andhra Pradesh AIR 1965 SC 1773 applied. CIT v. South Arcot District Co-operative Marketing Society Ltd. [1989] 176 ITR 117 (SC) distinguished. Surath Venkar Sahakari Sangh Ltd v. CIT [1971] 79 ITR 722 (Guj) approved. Decision of the Rajsthan High Court in CIT v. Udaipur Shahakari Upbhokta Thok Bhandara Ltd. [2007] 295 ITR 164 Affirmed." 21. The aforesaid decision of the Hon'ble Supreme Court in the case of Totgar's Co-operative Sale Society Ltd. (supra) was followed by a Division Bench of the Gujarat High Court in the case of State Bank of Indi…

ACIT, Circle - 2, Gorakhpur vs. M/S Seorahi Cooparetive Cane Development Union Ltd., Seorahi

In the result, appeal filed by Revenue in ITA No

ITA 144/VNS/2019[2013-2014]Status: DisposedITAT Varanasi09 Jun 2022AY 2013-2014

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 The Asst. Commissioner Of M/S. Seorahi Cooperative Cane Income Tax, V. Development Union Ltd. Circle-2, Seorahi, Gorakhpur, U.P. Kushinagar, U.P. Pan:Aabas8968D (Appellant) (Respondent)

For Appellant: None, written submissions filed by the assesseeFor Respondent: Shri Ramendra Kumar Vishwakarma, CIT DR
Section 142(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 80P(2)(a)

…ve society is exempt from tax, it would have to be seen whether such income falls within any of the several heads of exemption. This was held in the case of UP Co-operative Bank Ltd. Vs. CIT(1996) 61 ITR 56 (ALL): Surat Vanker Sahakari Sangh Ltd Vs CIT (1971) 79 ITR 722, 727 (Guj.) The co-operative society must prove that it had engaged itself in carrying on any of the several business referred to in section 80P(2). The business of the assessee society must have a direct or proximate connection with or nexus to the earning of income in order to enjoy the exemption. It was held in the case of Andhra Pradesh Co-ope…

Udaipur Sahkari Upbokta Thok Bhander Ld vs. Commr.of Income Tax

C.A. No.-004399-004399 - 2009Supreme Court16 Jul 2009
Section 14(3)(iv)Section 3Section 80P(2)(e)

…) in the 1922 Act, as amended, was a predecessor to Section 80P(2)(e) of the 1961 Act, and it came for consideration before the Gujarat High Court in the case of Surat Vankar Sahakari Sangh Ltd. v. Commissioner of Income-tax, Gujarat II – (1971) 79 ITR 722 (Guj.), in which it was held: “This section is obviously enacted with a view to encouraging and promoting growth of co-operative sector in the economic life of the country in pursuance of the declared policy of the Government. There are five different heads of exemption enumerated in the section. Each is a 1 distinct and independent…

Surath Venkar Sahakari Sangh Ltd. v. CIT (79 ITR 722) — Cited in 14 Judgments | BharatTax