Totgar's Co-operative Sale Society Ltd. v. ITO

188 Taxmann 282Supreme Court of India2010#144 most cited

What is Totgar's Co-operative Sale Society Ltd. v. ITO authority for?

Interest income earned by a co-operative society from investments, particularly with co-operative banks, is not eligible for deduction under Section 80P as it is not attributable to the core business activities of the society and constitutes "other income", not "profits and gains of business".

486

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

Totgar's Co-operative Sale Society Ltd. v. ITO · Section 80P deduction · interest income co-operative society · income from investments · co-operative bank interest · 80P(2)(d) ineligibility · other income · not attributable to business · 80P(4)

Also reported as

322 ITR 282

Sections most often in play

Section 80P(2)(d)Section 80P(2)(a)(i)Section 143(3)Section 80PSection 250Section 80P(4)Section 56Section 263

Issues it is cited on

section 80(2)(d)section 57(i)section 80(p)(2)(a)section 56(i)(ccv)section 80p(2)(a)(iii)section 286section 80(p)(2)section 80p(2)(c)section 80(p)(2)(d)section 161section 80p(1)section 2(19)

Judgments citing Totgar's Co-operative Sale Society Ltd. v. ITO

ACIT, Circle - 56, Kolkata vs. The West Bengal State Co-Opt. Bank Ltd., Kolkata

In the result, the appeals as well as the cross-objections are dismissed

ITA 737/KOL/2011[1996-97]Status: DisposedITAT Kolkata03 Aug 2016AY 1996-97

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.Anos.737-742/Kol/2011 Assessment Years : 1996-97 To 2001-02 A.C.I.T., Circle-56, -Vs.- The West Bengal State Co-Operative Kolkata Bank Ltd.Kolkata [Pan : Aaaat 7072 N] (Respondent) (Appellant) C.O.Nos.36-40/Kol/2011 (A/O I.T.A Nos. 737-741/Kol/2011 ) Assessment Years : 1996-97 To 2000-2001 The West Bengal State Co-Operative -Vs.- A.C.I.T., Circle-56, Bank Ltd., Kolkata Kolkata [Pan : Aaaat 7072 N] (Respondent) (Appellant) For The Department : Shri G.Mallikarjuna, Cit(Dr) For The Assessee : Shri N.C.Mondal, Ca Date Of Hearing : 27.07.2016. Date Of Pronouncement : 03.08.2016. Order Per Bench

For Appellant: Shri N.C.Mondal, CAFor Respondent: Shri G.Mallikarjuna, CIT(DR)
Section 147Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : KOLKATA [Before Hon’ble Sri N.V.Vasudevan, JM & Dr.Arjun Lal Saini, AM] I.T.ANos.737-742/Kol/2011 Assessment Years : 1996-97 to 2001-02 A.C.I.T., Circle-56, -vs.- The West Bengal State Co-operative Kolkata Bank Ltd.Kolkata [PAN : AAAAT 7072 N] (Respondent) (Appellant) C.O.Nos.36-40/Kol/2011 (A/o I.T.A Nos. 737-741/Kol/2011 ) Assessment Years : 1996-97 to 2000-2001 The West Bengal State Co-operative -vs.- A.C.I.T., Circle-56, Bank Ltd., Kolkata Kolkata [PAN : AAAAT 7072 N] (Respondent) (Appellant) For the Department : Shri G.Mallikarjuna, CIT(DR) For the Asse…

DCIT 1(3), Mumbai vs. The Maharashtra State Co Op Bank Ltd, Mumbai

ITA 8791/MUM/2011[2005-06]Status: DisposedITAT Mumbai27 Jul 2016AY 2005-06

Bench: S/Shri Rajendra & C.N. Prasadआयकर आयकर अपील अपील संसंसंसं./Ita/8791/Mum/2011,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2005-06 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit-1(3), M/S. The Maharashtra State Co-Op. Bank Room No.540/564, 5Th Floor, Aayakar Ltd. Sir, Vithaldas Thakersey Memorial Vs. Bhavan, M.K. Road, New Marine Lines Building-9, Nagindas Master Road Mumbai-400 020. Mumbai-400 001. Pan:Aaaat 4066 A (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By:Shri N. Sathya Moorthy-Dr Assessee By: Shri J.D. Mistri सुनवाई क" तारीख / Date Of Hearing: 18.07.2016 घोषणा क" तारीख / Date Of Pronouncement: 27.07.2016 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य राजे सद"य राजे राजे"" राजे "" "" केकेकेके अनुसार "" अनुसार अनुसार Per Rajendra, Am- अनुसार Challenging The Order Dated 10.10.2011 Of The Cit(A)-2,Mumbai, The A.O.(Assessing Officer) Has Filed The Present Appeal For The Above Mentioned Assessment Year. 2.Assessee-Company Engaged In The Business Of Banking, Filed Its Return Of Income On 31.10.2005 Declaring Total Income At Rs.Nil. The Ao Completed The Assessment U/S.143(3) On 20.11.2007 At A Total Income Of Rs.Nil. Reassessment U/S. 143(3) R.W.S 147 Of The Act Was Completed On 30.11.2010 Determining The Income Of The Assessee At Rs.1.32Crores.

For Appellant: Shri J.D. MistriFor Respondent: Shri N. Sathya Moorthy-DR
Section 143(3)Section 244ASection 254(1)Section 56Section 80P(2)(a)Section 80P(2)(ai)

…आयकर अपीलीय अिधकरण, मुंबई “ई” खंडपीठ Income-tax Appellate Tribunal -“E”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"",लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं सी एवं सी सी. एन सी एन एन. "साद एन "साद "साद,"याियक "साद "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Shri Rajendra,Accountant Member and C.N. Prasad,Judicial Member आयकर आयकर अपील अपील संसंसंसं./ITA/8791/Mum/2011,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2005-06 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" DCIT-1(3), M/s. The Maharashtra State Co-op. Bank Room No.540/564, 5th Floor, Aayakar Ltd. Sir, Vithaldas Thakersey Me…

The Mantola Cooperative Thrift & Credit Society Ltd., New Delhi vs. ITO, New Delhi

In the result the appeals filed by the assessee stands partly allowed

ITA 483/DEL/2013[2004-05]Status: DisposedITAT Delhi30 Jun 2016AY 2004-05

Bench: Shri S. V. Mehrotra & Smt. Beena A. Pillai

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri M K Jain, Sr. DR
Section 143Section 148Section 57Section 80Section 80PSection 80P(2)Section 80P(2)(i)Section 80p

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘H’, NEW DELHI BEFORE SHRI S. V. MEHROTRA, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER I.T.A.No. Assessment Year 483/Del/2013 2004-05 484/Del/2014 2005-06 485/Del/2013 2006-07 486/Del/2013 2007-08 2828/Del/2015 2008-09 487/Del.2013 2009-10 177/Del/2014 2010-11 2829/Del/2015 2011-12 The Mantola Cooperative Vs. ITO, Ward 38(4), Thrift & Credit Society Ltd., New Delhi 541, Mantola Pahar Ganj, New Delhi GIR / PAN :AAAJT1976A (Appellant) (Respondent) Appellant by :Shri Ajay Vohra, Sr. Adv. Shri Gaurav Jain, Adv. Shri Sahil Mehta, Adv. Respondent…

M/S Shree Keshava Pathina Sahakara Sangha Niyamitha, Mysore vs. ITO, Mysore

In the result, the appeal of the assessee is allowed

ITA 102/BANG/2015[2011-12]Status: DisposedITAT Bangalore30 Dec 2015AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raoshree Keshava Pathina Sahakara Sangha Niyamitha, No.1260, 3Rd Cross, Near Vinayaka Nurshing Home, Krishnamurthypuram, Mysore-570004. … Appellant Pan: Aaaas 5752 J Vs. Income-Tax Officer, Ward 2(2), Mysore. … Respondent Appellant By: Shri Suresh Muthukrishnan, Ca. Respondent By: Dr. P.K.Srihari (Dr) Date Of Hearing : 09/12/2015. Date Of Pronouncement: 30/12/2015. O R D E R Per Vijay Pal Rao, Jm :

For Appellant: Shri Suresh Muthukrishnan, CAFor Respondent: Dr. P.K.Srihari (DR)
Section 80PSection 80P(2)(a)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Shree Keshava Pathina Sahakara Sangha Niyamitha, No.1260, 3rd Cross, Near Vinayaka Nurshing Home, Krishnamurthypuram, Mysore-570004. … Appellant PAN: AAAAS 5752 J Vs. Income-tax Officer, Ward 2(2), Mysore. … Respondent Appellant by: Shri Suresh Muthukrishnan, CA. Respondent by: Dr. P.K.Srihari (DR) Date of hearing : 09/12/2015. Date of pronouncement: 30/12/2015. O R D E R Per VIJAY PAL RAO, JM : This appeal by the assessee is directed against the order dated 16/10/201…

M/S Bajpe Vyavasaya Seva Sahakari Bank Niyamitha, Mangalore vs. ITO, Mangalore

In the result, the assessee’s appeal for assessment year :2010-11 is allowed”

ITA 1028/BANG/2015[2010-11]Status: DisposedITAT Bangalore20 Nov 2015AY 2010-11

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Raom/S Bajpe Vyavasaya Seva Sahakari Bank Niyamitha, D No.3-67, Bajpe, Mangalore. . Appellant Vs. The Income-Tax Officer, Ward - 1(3), Mangalore. . Respondent

For Appellant: Shri Suresh MuthukrishnanFor Respondent: Smt. Neera Malhotra, CIT
Section 143(2)Section 143(3)Section 148Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH ‘B’ BEFORE SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER M/s Bajpe Vyavasaya Seva Sahakari Bank Niyamitha, D No.3-67, Bajpe, Mangalore. . Appellant Vs. The Income-tax Officer, Ward - 1(3), Mangalore. . Respondent Appellant by : Shri Suresh Muthukrishnan Respondent by : Smt. Neera Malhotra, CIT Date of Hearing : 17-11-2015 Date of Pronouncement : 20-11 -2015 O R D E R PER SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER This appeal is directed against the order of Commissioner of Income-tax (Appeals), Mangalore dated 27.8.…

Syndicate Rythara Sahakara Bank Ltd., Koppa vs. ITO, Mysore

ITA 21/BANG/2015[2010-11]Status: DisposedITAT Bangalore03 Jul 2015AY 2010-11
For Appellant: Shri V. Srinivasan, C.AFor Respondent: Shri P. Dhivahar, JCIT (D.R)
Section 143(3)Section 2Section 80P(2)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI JASON P. BOAZ, ACCOUNTANT MEMBER I.T. A. No.21/Bang/2015 (Assessment Year : 2010-11) M/s. Syndicate Rythara Sahakara Bank Ltd., Kopa-571 104 Periyapatna Taluk …. Appellant. Vs. The Income Tax Officer, Ward 1(3), Mysore. ….. Respondent. Appellant By : Shri V. Srinivasan, C.A. Respondent By : Shri P. Dhivahar, JCIT (D.R). Date of Hearing : 18.05.2015. Date of Pronouncement : 3.7.2015. O R D E R Per Shri Jason P. Boaz, A.M. : This appeal by the Revenue is directed against the order of the Commissioner of…