Totgars Co-operative Sale Society Ltd. v. ITO

322 ITR 283Supreme Court of India2010#33 most cited

What is Totgars Co-operative Sale Society Ltd. v. ITO authority for?

The interest income earned by a cooperative society from investing its surplus funds in fixed deposits with banks is not "derived from" its eligible business activities and is taxable as "income from other sources" under Section 56, thus not qualifying for deduction under Section 80P.

1,283

judgments rely on this decision, according to BharatTax’s citation analysis of 383,853 Indian tax judgments — from 2014 to 2026.

Also referred to as

Totgars Co-operative Sale Society · 322 ITR 283 · Section 80P · Section 80P(2)(d) · Section 80P(2)(a)(i) · interest income cooperative society · fixed deposit interest deduction · income from other sources Section 56 · derived from business · surplus funds investment

Also reported as

188 Taxmann.com 282

Sections most often in play

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

Issues it is cited on

section 80(2)(d)section 80p(2)(a)(iii)section 80p(4)section 2(19)section 80p(1)section 80p(2)(c)section 80(p)(2)(d)section 5(b)section 80p(2)(d)section 80p(2)(a)section 194a(3)(v)section 80p(2)(a)(i)

Judgments citing Totgars Co-operative Sale Society Ltd. v. ITO

Yedamangala Vyavasaya Seva Sahakari Bank Niyamitha, Yedamangala, Sullia vs. Income Tax Officer Ward 1 Puttur, Puttur, Dakshina Kannada

ITA 580/BANG/2025[2018-19]Status: DisposedITAT Bangalore16 Sept 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Prasanna Shenoy, CAFor Respondent: Shri Ganesh R Ghale, Advocate – Standing
Section 56Section 57Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘SMC’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No.580 - 581/Bang/2025 Assessment Year: 2018-19 & 2020-21 Yedamangala Vyavasaya Seva Sahakari Vs. The Income Tax Officer, Bank Niyamitha, Ward - 1, Yedamangala PACS Building, Puttur. Yedamangala, Sullia – 574 221. PAN – AAAAY 0743 P APPELLANT RESPONDENT Assessee by : Shri Prasanna Shenoy, CA Revenue by : Shri Ganesh R Ghale, Advocate – Standing Counsel for Revenue Date of hearing : 26.06.2025 Date of Pronouncement : 16.09.2025 O R D E R PER WASEEM AHMED, ACCOUNT…

Shri. Biluru Gurubasava Sahakari Pattina Sangh Niyamit, Bagalkot vs. Income Tax Officer, Ward-1, Bagalkot

ITA 418/BANG/2025[2022-23]Status: DisposedITAT Bangalore16 Sept 2025AY 2022-23

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Sandeep Chalapathy, A.RFor Respondent: Sri Subramanian S., D.R
Section 139(1)Section 143(2)Section 250Section 80P(2)(a)

…of the assessee that the entire interest income of Rs.3,42,99,582/-are allowable as deduction u/s 80P(2)(a)(i) of the Act. 9.3 Further the ld. CIT(A)/NFAC, heavily relied upon the decision of the Apex Court in the case of Totagar Sales Society Vs. ITO (2010) 322 ITR 283 and contended that the interest earned out of surplus funds kept by co-operative societies with banks are not eligible for deduction u/s 80P(2)(d) of the Act and the same are taxable as Income from Other sources u/s 56 of the Act. When we look at the decision of Hon’ble Supreme Court in case of Totgars Co-operative Sale Society's case (Supra), re…

Shri Biluru Gurubasava Sahakari Pattina Sangh Niyamit, Bagalkot vs. Income Tax Officer, Ward-1, Bagalkot

ITA 417/BANG/2025[2020-21]Status: DisposedITAT Bangalore16 Sept 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Sandeep Chalapathy, A.RFor Respondent: Sri Subramanian S., D.R
Section 139(1)Section 143(2)Section 250Section 80P(2)(a)

…of the assessee that the entire interest income of Rs.3,42,99,582/-are allowable as deduction u/s 80P(2)(a)(i) of the Act. 9.3 Further the ld. CIT(A)/NFAC, heavily relied upon the decision of the Apex Court in the case of Totagar Sales Society Vs. ITO (2010) 322 ITR 283 and contended that the interest earned out of surplus funds kept by co-operative societies with banks are not eligible for deduction u/s 80P(2)(d) of the Act and the same are taxable as Income from Other sources u/s 56 of the Act. When we look at the decision of Hon’ble Supreme Court in case of Totgars Co-operative Sale Society's case (Supra), re…

Indian Co-Operative Network for Women Limited, Chennai vs. The Income Tax Officer, Non Corporate Ward 1(2), Nungambakkam

In the result, all the four appeals filed by the assessee are allowed for statistical purposes

ITA 1636/CHNY/2025[2018-19]Status: DisposedITAT Chennai12 Sept 2025AY 2018-19

Bench: Shri S S Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:1633 To 1636/Chny/2025 धनिाारण वर्ा / Assessment Year: 2015-16, 2016-17, 2017-18 & 2018-19 Indian Co-Operative Network For Ito, Women Limited Vs. Non Corporate Ward -1(2), No. 55, Bheemasena Garden Road, Chennai. Chennai – 600 004. Tamil Nadu. [Pan:Aaaai-4488-B] (अपीलाथी/Appellant) (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : None प्रत्यथी की ओर से/Respondent By : Mr. N. Rajakumar, Addl. Cit.

For Appellant: NoneFor Respondent: Mr. N. Rajakumar, Addl. CIT
Section 143(3)Section 147Section 80P(2)(a)

….80P(2)(a)(i) of the Act. The AO relied on the following decisions of the Hon’ble courts and denied the deduction claimed by the assessee u/s.80P(2)(a)(i) of the Act: :-3-: ITA. No:1633 to 1636/Chny/2025 - Totgar’s Cooperative Sales Society Ltd Vs.ITO [2010] 322 ITR 283 - South Eastern Railway Emp. CoOp Credit Society Ltd 390 ITR 524) - Mantola Co-Op. Thrift & Credit society ltd. 50 Taxmann.com 278(delhi) 5. The AO passed orders u/s.147 of the Act by disallowing the deduction of Interest on investment and deposits along with the Miscellaneous income claimed as detailed below: A.Y. Order Date of the Disallowance…

Indian Co-Operative Network for Women Limited, Chennai vs. The Income Tax Officer, Non Corporate Ward 1(2), Nungambakkam

In the result, all the four appeals filed by the assessee are allowed for statistical purposes

ITA 1635/CHNY/2025[2017-18]Status: DisposedITAT Chennai12 Sept 2025AY 2017-18

Bench: Shri S S Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:1633 To 1636/Chny/2025 धनिाारण वर्ा / Assessment Year: 2015-16, 2016-17, 2017-18 & 2018-19 Indian Co-Operative Network For Ito, Women Limited Vs. Non Corporate Ward -1(2), No. 55, Bheemasena Garden Road, Chennai. Chennai – 600 004. Tamil Nadu. [Pan:Aaaai-4488-B] (अपीलाथी/Appellant) (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : None प्रत्यथी की ओर से/Respondent By : Mr. N. Rajakumar, Addl. Cit.

For Appellant: NoneFor Respondent: Mr. N. Rajakumar, Addl. CIT
Section 143(3)Section 147Section 80P(2)(a)

….80P(2)(a)(i) of the Act. The AO relied on the following decisions of the Hon’ble courts and denied the deduction claimed by the assessee u/s.80P(2)(a)(i) of the Act: :-3-: ITA. No:1633 to 1636/Chny/2025 - Totgar’s Cooperative Sales Society Ltd Vs.ITO [2010] 322 ITR 283 - South Eastern Railway Emp. CoOp Credit Society Ltd 390 ITR 524) - Mantola Co-Op. Thrift & Credit society ltd. 50 Taxmann.com 278(delhi) 5. The AO passed orders u/s.147 of the Act by disallowing the deduction of Interest on investment and deposits along with the Miscellaneous income claimed as detailed below: A.Y. Order Date of the Disallowance…

Indian Co-Operative Network for Women Limited, Chennai vs. The Income Tax Officer, Non Corporate Ward 1(2), Nungambakkam

In the result, all the four appeals filed by the assessee are allowed for statistical purposes

ITA 1634/CHNY/2025[2016-17]Status: DisposedITAT Chennai12 Sept 2025AY 2016-17

Bench: Shri S S Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:1633 To 1636/Chny/2025 धनिाारण वर्ा / Assessment Year: 2015-16, 2016-17, 2017-18 & 2018-19 Indian Co-Operative Network For Ito, Women Limited Vs. Non Corporate Ward -1(2), No. 55, Bheemasena Garden Road, Chennai. Chennai – 600 004. Tamil Nadu. [Pan:Aaaai-4488-B] (अपीलाथी/Appellant) (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : None प्रत्यथी की ओर से/Respondent By : Mr. N. Rajakumar, Addl. Cit.

For Appellant: NoneFor Respondent: Mr. N. Rajakumar, Addl. CIT
Section 143(3)Section 147Section 80P(2)(a)

….80P(2)(a)(i) of the Act. The AO relied on the following decisions of the Hon’ble courts and denied the deduction claimed by the assessee u/s.80P(2)(a)(i) of the Act: :-3-: ITA. No:1633 to 1636/Chny/2025 - Totgar’s Cooperative Sales Society Ltd Vs.ITO [2010] 322 ITR 283 - South Eastern Railway Emp. CoOp Credit Society Ltd 390 ITR 524) - Mantola Co-Op. Thrift & Credit society ltd. 50 Taxmann.com 278(delhi) 5. The AO passed orders u/s.147 of the Act by disallowing the deduction of Interest on investment and deposits along with the Miscellaneous income claimed as detailed below: A.Y. Order Date of the Disallowance…

Indian Co-Operative Network for Women Limited, Chennai vs. The Income Tax Officer Non Corp Ward 1(2), Nungambakkam

In the result, all the four appeals filed by the assessee are allowed for statistical purposes

ITA 1633/CHNY/2025[2015-16]Status: DisposedITAT Chennai12 Sept 2025AY 2015-16

Bench: Shri S S Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:1633 To 1636/Chny/2025 धनिाारण वर्ा / Assessment Year: 2015-16, 2016-17, 2017-18 & 2018-19 Indian Co-Operative Network For Ito, Women Limited Vs. Non Corporate Ward -1(2), No. 55, Bheemasena Garden Road, Chennai. Chennai – 600 004. Tamil Nadu. [Pan:Aaaai-4488-B] (अपीलाथी/Appellant) (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : None प्रत्यथी की ओर से/Respondent By : Mr. N. Rajakumar, Addl. Cit.

For Appellant: NoneFor Respondent: Mr. N. Rajakumar, Addl. CIT
Section 143(3)Section 147Section 80P(2)(a)

….80P(2)(a)(i) of the Act. The AO relied on the following decisions of the Hon’ble courts and denied the deduction claimed by the assessee u/s.80P(2)(a)(i) of the Act: :-3-: ITA. No:1633 to 1636/Chny/2025 - Totgar’s Cooperative Sales Society Ltd Vs.ITO [2010] 322 ITR 283 - South Eastern Railway Emp. CoOp Credit Society Ltd 390 ITR 524) - Mantola Co-Op. Thrift & Credit society ltd. 50 Taxmann.com 278(delhi) 5. The AO passed orders u/s.147 of the Act by disallowing the deduction of Interest on investment and deposits along with the Miscellaneous income claimed as detailed below: A.Y. Order Date of the Disallowance…

Lanja Nagari Sahakari Patsanstha Maryadit, Ratnagiri vs. Income Tax Officer, Ratnagiri

Appeal of the assessee is allowed

ITA 1819/PUN/2025[2018-19]Status: DisposedITAT Pune11 Sept 2025AY 2018-19

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1819/Pun/2025 निर्धारण वर्ष / Assessment Year: 2018-19 Lanja Nagari Sahakari V The Income Tax Officer, Patsanstha Maryadit, S Ward-1, Ratnagiri. 1923, Satavali Road Lanja, Ratnagiri - 415701. Pan: Aaaal7551N Appellant/ Assessee Respondent / Revenue Assessee By Shri Pramod S. Shingte – Ar Revenue By Shri Ambarnath Khule - Jcit(Dr) Date Of Hearing 01/09/2025 Date Of Pronouncement | 11/09/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax Appeal (Nfac) Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2018-19 Dated 30.06.2025 Emanating From The Assessment Order Under Section 143(3) R.W.S 143(3A) & 143(3B) Of The Income Tax Act, 1961. The Grounds Of Appeal Raised By The Assessee Are As Under :

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

…court in CIT v. Andhra Pradesh State Co- operative Bank Ltd. [2011] 12 taxmann.com 66/200 Taxman_200/336 ITR 516, the Revenue places strong reliance upon the decision of the Supreme Court in Totgar's Co-operative Sale Society Ltd. v. ITO [2010] 188 Taxman 282/322 ITR 283. 34. The case before the Supreme Court in Totgar's Co-operative Sale Society Ltd.'s case (supra) was in respect of a co-operative credit society, which was also marketing the agricultural produce of its members. As seen from the facts disclosed in the decision of the Karnataka High Court in Totgars, from out of which the decision of the Supreme C…

West Central Railway Employees Cooperative Credit Society Ltd., Kota vs. ITO, Ward-2(1), Kota

In the results, the appeal of the assessee in ITA no

ITA 1009/JPR/2025[2022-23]Status: DisposedITAT Jaipur10 Sept 2025AY 2022-23
For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Gautam Singh Choudhary, JCIT
Section 143(3)Section 270ASection 80P

…ellant society or from any other co-opeartive society or co-operative bank. The interest was earned from banks and financial institutions (other than co- operative banks). The Hon'ble Supreme Court in the case of Totgars' Cooperative Sale Society Ltd. v. ITO [322 ITR 283 (SC)] has held as under on this issue: "At the outset, an important circumstance needs to be highlighted. In the present case, the interest held not eligible for deduction under Section 80P(2)(a)(i) of the Act is not the interest received from the members for providing credit facilities to them. What is sought to be taxed under Section 56 of the…

West Central Railway Employees Cooperative Credit Society Ltd., Kota vs. ITO, Ward-2(1), Kota

In the results, the appeal of the assessee in ITA no

ITA 1008/JPR/2025[2020-21]Status: DisposedITAT Jaipur10 Sept 2025AY 2020-21
Section 143(3)Section 270ASection 80P

…ellant society or from any other co-opeartive society or co-operative bank. The interest was earned from banks and financial institutions (other than co- operative banks). The Hon'ble Supreme Court in the case of Totgars' Cooperative Sale Society Ltd. v. ITO [322 ITR 283 (SC)] has held as under on this issue: "At the outset, an important circumstance needs to be highlighted. In the present case, the interest held not eligible for deduction under Section 80P(2)(a)(i) of the Act is not the interest received from the members for providing credit facilities to them. What is sought to be taxed under Section 56 of the…

West Central Railway Employees Cooperative Credit Society Ltd., Kota vs. ITO, Ward-2(1), Kota

In the results, the appeal of the assessee in ITA no

ITA 1007/JPR/2025[2017-18]Status: DisposedITAT Jaipur10 Sept 2025AY 2017-18

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Gautam Singh Choudhary, JCIT
Section 143(3)Section 270ASection 80P

…ellant society or from any other co-opeartive society or co-operative bank. The interest was earned from banks and financial institutions (other than co- operative banks). The Hon'ble Supreme Court in the case of Totgars' Cooperative Sale Society Ltd. v. ITO [322 ITR 283 (SC)] has held as under on this issue: "At the outset, an important circumstance needs to be highlighted. In the present case, the interest held not eligible for deduction under Section 80P(2)(a)(i) of the Act is not the interest received from the members for providing credit facilities to them. What is sought to be taxed under Section 56 of the…

Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Latur vs. Income Tax Officer- Ward 1 -Latur, Latur

In the result, the appeal of the assessee is allowed

ITA 671/PUN/2025[2020-21]Status: DisposedITAT Pune09 Sept 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.670 & 671/Pun/2025 निर्धारण वर्ष / Assessment Years : 2018-19 & 2020-21 Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Bidar Road, Near Mahatma Gandhi Udyan, Udgir, Latur-413517 Pan: Aabam7649H अपीलार्थी / Appellant Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Ito, Ward-1, Latur Vs. प्रत्यर्थी / Respondent Miss Sailee Gujarathi (Virtual) Shri Ramnath P. Murkunde 02-07-2025 09-09-2025 आदेश / Order Per Astha Chandra, Jm : The Above Two Appeals Filed By The Assessee Are Directed Against The Two Separate Orders Both Dated 10.01.2025 Of The Ld. Commissioner Of Income Tax (Appeals), Nfac, Delhi [“Cit(A)/Nfac"] Pertaining To

For Appellant: Department byFor Respondent: Date of hearing
Section 142(1)Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…m its investments with any other cooperative society which is required to he deducted while computing the total income of the assessee." Thus, following the decision of the Hon'ble Supreme Court in the case of Totagar's Co- Operative Sale Society Ltd., (2010) 322 ITR 283(SC) it was held that interest earned from investments made in any bank, not being co-operative society, is not deductible under section 80P(2)(d) to the act. (emphasis supplied) (ix) The decision in Totagars (2010) and SBI (2016) deal with cases prior to amendments by Finance Act 2015. In fact, the decision of SBI implies that interest earned fro…

Mahatma Gandhi Nagri Sahakari Pat Sanstha Mydt Udgir, Latur vs. Income Tax Officer- Ward 1 -Latur, Latur

ITA 670/PUN/2025[2018-19]Status: DisposedITAT Pune09 Sept 2025AY 2018-19

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Miss Sailee Gujarathi (Virtual)For Respondent: Shri Ramnath P. Murkunde
Section 142(1)Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.670 & 671/PUN/2025 धििाारण वर्ा / Assessment Years : 2018-19 & 2020-21 Mahatma Gandhi Nagri Sahakari ITO, Ward-1, Latur Pat Sanstha Mydt Udgir, Bidar Road, Near Mahatma Vs. Gandhi Udyan, Udgir, Latur-413517 PAN : AABAM7649H अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Miss Sailee Gujarathi (Virtual) Department by : Shri Ramnath P. Murkunde Date of hearing : 02-07-2025 Date of 09-09-2025 Pronouncement :…

ITO-23.2.1, Mumbai vs. Mig Co-Op. Housing Society Group II Limited, Mumbai

ITA 4576/MUM/2025[2017-18]Status: DisposedITAT Mumbai04 Sept 2025AY 2017-18

Bench: Shri Sandeep Singh Karhailshri Girish Agrawalincome Tax Officer, Ward – 23(2)(1) Room No.512, 5Th Floor, Piramal Chambers, Lalbaug, ............... Appellant Mumbai - 400012 V/S Mig Co – Op Housing Society Group Ii Ltd., B-32, Kalpataru Sparkle, Mig Colony, ……………… Respondent Gandhi Nagar, Bandra East, Mumbai - 400051 Pan : Aaaam8129P Assessee By : Shri Yogesh Thar Shri Surajsingh Devda Revenue By : Shri Surendra Mohan, Sr.Dr

For Appellant: Shri Yogesh TharFor Respondent: Shri Surendra Mohan, Sr.DR
Section 142(1)Section 143(2)Section 250Section 80PSection 80P(2)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Income Tax Officer, Ward – 23(2)(1) Room No.512, 5th Floor, Piramal Chambers, Lalbaug, ............... Appellant Mumbai - 400012 v/s MIG Co – Op Housing Society Group II Ltd., B-32, Kalpataru Sparkle, MIG Colony, ……………… Respondent Gandhi Nagar, Bandra East, Mumbai - 400051 PAN : AAAAM8129P Assessee by : Shri Yogesh Thar Shri Surajsingh Devda Revenue by : Shri Surendra Mohan, Sr.DR Date of Hearing – 01/09/2025 Date of Order - 04/09/2025 O R D E R PER SANDEEP SINGH KAR…

Shri Kalmeshwar Co-Op Credit Society, Belgaum vs. Assessing Officer, National E Limited Assessment Centre, Delhi

ITA 164/PAN/2025[2020-21]Status: DisposedITAT Panaji02 Sept 2025AY 2020-21

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 164/Pan/2025 Assessment Year : 2020-21 Shri Kalmeshwar Co-Op Credit Society Limited. 396/4 Main Road, Lbs Nagar, Kangralli, Belagavi-590010. Pan : Aaajs2317N . . . . . . . Appellant

For Appellant: Mr Santosh Kumar Latthe [‘Ld. AR’]For Respondent: Ms Rijjula Uniyal [‘Ld. DR’]
Section 143(2)Section 143(3)Section 2(19)Section 250Section 253(1)Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, GOA BEFORE HON’BLE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER AND SHRI G. D. PADMAHSHALI, ACCOUNTANT MEMBER ITA Nos. 164/PAN/2025 Assessment Year : 2020-21 Shri Kalmeshwar Co-op Credit Society Limited. 396/4 Main Road, LBS Nagar, Kangralli, Belagavi-590010. PAN : AAAJS2317N . . . . . . . Appellant V/s National Faceless e-Asstt. Centre, Delhi . . . . . . . Respondent Appearances Assessee by : Mr Santosh Kumar Latthe [‘Ld. AR’] Revenue by : Ms Rijjula Uniyal [‘Ld. DR’] Date of conclusive Hearing: 01/09/2025 Date of Pronouncement : 02/09/2025 ORDER PER G. D.…

The Northern Zone Railway Emp.Co Op Thrift and Credit Society Ltd, New Delhi vs. ITO Ward-52(1), Delhi

In the result, all captioned appeals of the assessee are allowed for statistical purposes

ITA 2241/DEL/2025[2020-21]Status: DisposedITAT Delhi01 Sept 2025AY 2020-21

Bench: Shri S Rifaur Rahman & Shri Anubhav Sharma[Assessment Year : 2016-17] The Northern Zone Railway Emp. Vs Ito, Co Op Thrift & Credit Society Ward-53(1), Ltd., Northern Railway Head New Delhi. Quarter, Baroda House, K.G.Marg, New Delhi-110001. Pan-Aaatt7871J Appellant Respondent

Section 143(3)Section 56Section 57Section 80PSection 80P(2)(a)

…r, we find that there is no dispute to the fact that during the relevant AYs, assessee invested surplus funds in deposits or saving bank accounts. Hon’ble Supreme Court in the case of M/s. The Totgars Co-operative Sale Society Limited vs ITO, Karnataka [2010] 322 ITR 283 (SC) while examining the issue whether interest income from such deposits would qualify for deduction as business income u/s 80P(2)(a)(i) of the Act has held that to the extent, such interest income can be attributed either to the activity, the same is allowable otherwise taxable as income from other sources u/s 56 of the Act. We find that Ld. Ta…

The Northern Zone Railway Emp. Co Op Thrift and Credit Society Ltd, Delhi vs. ITO Ward-52(1), New Delhi

In the result, all captioned appeals of the assessee are allowed for statistical purposes

ITA 2240/DEL/2025[2017-18]Status: DisposedITAT Delhi01 Sept 2025AY 2017-18

Bench: Shri S Rifaur Rahman & Shri Anubhav Sharma[Assessment Year : 2016-17] The Northern Zone Railway Emp. Vs Ito, Co Op Thrift & Credit Society Ward-53(1), Ltd., Northern Railway Head New Delhi. Quarter, Baroda House, K.G.Marg, New Delhi-110001. Pan-Aaatt7871J Appellant Respondent

Section 143(3)Section 56Section 57Section 80PSection 80P(2)(a)

…r, we find that there is no dispute to the fact that during the relevant AYs, assessee invested surplus funds in deposits or saving bank accounts. Hon’ble Supreme Court in the case of M/s. The Totgars Co-operative Sale Society Limited vs ITO, Karnataka [2010] 322 ITR 283 (SC) while examining the issue whether interest income from such deposits would qualify for deduction as business income u/s 80P(2)(a)(i) of the Act has held that to the extent, such interest income can be attributed either to the activity, the same is allowable otherwise taxable as income from other sources u/s 56 of the Act. We find that Ld. Ta…

The Northern Zone Railway Emp. Co Op Thrift and Credit Society Ltd, New Delhi vs. ITO Ward-53(1), Delhi

In the result, all captioned appeals of the assessee are allowed for statistical purposes

ITA 2239/DEL/2025[2016-17]Status: DisposedITAT Delhi01 Sept 2025AY 2016-17

Bench: Shri S Rifaur Rahman & Shri Anubhav Sharma[Assessment Year : 2016-17] The Northern Zone Railway Emp. Vs Ito, Co Op Thrift & Credit Society Ward-53(1), Ltd., Northern Railway Head New Delhi. Quarter, Baroda House, K.G.Marg, New Delhi-110001. Pan-Aaatt7871J Appellant Respondent

Section 143(3)Section 56Section 57Section 80PSection 80P(2)(a)

…r, we find that there is no dispute to the fact that during the relevant AYs, assessee invested surplus funds in deposits or saving bank accounts. Hon’ble Supreme Court in the case of M/s. The Totgars Co-operative Sale Society Limited vs ITO, Karnataka [2010] 322 ITR 283 (SC) while examining the issue whether interest income from such deposits would qualify for deduction as business income u/s 80P(2)(a)(i) of the Act has held that to the extent, such interest income can be attributed either to the activity, the same is allowable otherwise taxable as income from other sources u/s 56 of the Act. We find that Ld. Ta…

Karmayogi Sr Paricharak Multistate Coopertive Credit Society Limited, Pandharpur vs. ITO Ward 2, Pandharpur

In the result Appeal of the assessee is allowed

ITA 2476/PUN/2024[2021-22]Status: DisposedITAT Pune29 Aug 2025AY 2021-22

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamore

Section 10ASection 139Section 139(1)Section 142Section 143(1)Section 250Section 80P

…esh State Co- 5 operative Bank Ltd. [2011] 12 taxmann.com 66/200 Taxman 200/336 ITA No.2476/PUN/2024[A] ITR 516, the Revenue places strong reliance upon the decision of the Supreme Court in Totgar's Co-operative Sale Society Ltd. v. ITO [2010] 188 Taxman 282/322 ITR 283. …………………… 34. The case before the Supreme Court in Totgar's Co-operative Sale Society Ltd.'s case (supra) was in respect of a co-operative credit society, which was also marketing the agricultural produce of its members. As seen from the facts disclosed in the decision of the Karnataka High Court in Totgars, from out of which the decision of the…

Avinissery Service Co-Operative Bank Ltd, Thrissur vs. The Income Tax Officer Ward 2(1), Thrissur

In the result, appeal filed by the assessee stands allowed

ITA 577/COCH/2025[2017-18]Status: DisposedITAT Cochin28 Aug 2025AY 2017-18

Bench: Shri Inturi Rama Rao, Am& Shri Rahul Chaudhary

For Appellant: Shri Alan P. Dev, CAFor Respondent: Smt. Leena Lal, Sr. DR
Section 143(3)Section 250Section 80P

…ed by the above assessment order, an appeal was filed by the appellant before the Ld. CIT(A), who vide impugned order dismissed the appeal placing reliance on the decision of Hon’ble Supreme Court in the case of Totgars’ Cooperative Sale Society Ltd. vs. ITO [322 ITR 283 (SC)]. 4. Aggrieved by the order of Ld. CIT(A), the appellant is in appeal before this Tribunal. 5. We heard rival contentions and perused the material on record. The solitary issue that arises for our consideration is that whether the appellant society is eligible for deduction under section 80P of the Act or not. Admittedly, the appellant is…