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.

How many judgments cite Totgars Co-operative Sale Society Ltd. v. ITO?

1,283 judgments on BharatTax cite Totgars Co-operative Sale Society Ltd. v. ITO (322 ITR 283), spanning 2014 to 2026.

Which sections of the Income Tax Act does Totgars Co-operative Sale Society Ltd. v. ITO come up under?

It is most often cited in judgments turning on Section 80P(2)(d), Section 80P(2)(a)(i), Section 143(3), Section 80P, Section 80P(4), Section 250.

Totgars Co-operative Sale Society Ltd. v. ITO (322 ITR 283)

Veeracharya Babasaheb Kuchnure Zilla Nagari Sahakari Pat Sanstha Ltd., Sangli vs. Income Tax Officer 1(1), Sangli

In the result, the appeal of the assessee is allowed

ITA 3242/PUN/2025[2018-19]Status: DisposedITAT Pune16 Feb 2026AY 2018-19

Bench: Shri Manish Borad & Ms. Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amit Bobde

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

…0P(2)(d). There is no material on record to suggest that the appellant is itself a co-operative bank, and therefore section 80P(4) does not apply to the appellant on that footing. 5.4 The Hon'ble Supreme Court in Totgars Co-operative Sale Society Ltd. v. ITO (322 ITR 283) has categorically held that interest earned on surplus funds invested in deposits, which are not required for the day-to-day AYs 2018-19 & 2020-21 business of providing credit facilities to members, is taxable under the head "Income from Other Sources and does not qualify for deduction under section 80P(2)(a)(i). In the present case, the appell…

Shree Mahila Credit Souhard Sahakari Sangh Niyamit, Belagavi vs. ITO Ward 1 Belagavi, Belagavi

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

ITA 116/PAN/2024[2017-18]Status: DisposedITAT Panaji13 Feb 2026AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.116/Pan/2024 (A.Y. 2017-18) Shree Mahila Credit Souhard Vs Ito-Ward-2, Sahakari Sangh Niyamit, Feroj Khimjibhai Cpx, . Shop.No.3, Maruti Complex, Civil Hospital Road 2 Nd Railway Gate, Tilakwadi, Belagavi-590001. Belgaum-500006, Karnataka. Karnataka. . Pan .No. Aabas9244A (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Pramod Y Vaidya.Ar Revenue By Smt.Rijula Uniyal.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.02.2026 घोषणा की तारीख/Date Of Pronouncement 13.02.2026 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of The Nfac/Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Partially Sustaining The Denial Of Claim Of Deduction U/Sec80P(2)(A)(I) Of The Act Made By The Assessing Officer & Without Prejudice Alternate Relief U/Sec80P(2)(D) Of The Act & Sustaining Denial Of Deduction Of Interest On Income Tax Refund Under Section 80P(2)(A)(I) Of The Act.

Section 80P(2)(a)Section 80P(2)(d)

…at par with other banks would no more be entitled for claim of deduction under Sec. 80P(4) of the Act. Insofar the reliance placed by the Pr. CIT on the judgment of the Hon'ble Supreme Court in the case of Totgars Co-operative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC) is concerned, we are of the considered view that the being distinguishable on facts had wrongly been relied upon by him. The adjudication by the Hon"ble Apex Court in the aforesaid case was in context of Sec. 80P(2)(a)(i), and not on the entitlement of a cooperative society towards deduction under Sec. 80P(2) (d) on the interest income on th…

Income Tax Officer Ward-2 Ahmednagar, Ahmednagar vs. Kanifnath Grmain Bigar Sheti Sahakari Patsanstha Maryadit, Maldad

In the result, the appeal of the Revenue is dismissed

ITA 2247/PUN/2025[2022-23]Status: DisposedITAT Pune13 Feb 2026AY 2022-23

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

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Madhan Thirmanpalli

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

…ift Credit Society Ltd. vs CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s 80P on interest income earned from banks. Both the Hon'ble High Courts took into consideration the ratio laid down in the case of Totgar's Cooperative Sale Society Ltd. (2010) 322 ITR 283 (SC). There being no direct judgment from the Hon'ble jurisdictional High Court on the point, the Tribunal inShri Laxmi Narayan Nagar Sahakari Pat Sanstha Maryadit(supra) preferred to go with the view in favour of the assessee by the Hon'ble Karnataka High Court in the case of Tumkar Merchants Souharda Credit Cooperative Ltd. (supra) 5.10 Further…

SHI vs. Hakti Nagari Sahakari Patsanstha, Punevs.Income Tax Officer Ward 10(1), Pune

In the result, the appeal of the assessee is allowed

ITA 2816/PUN/2025[2018-19]Status: DisposedITAT Pune12 Feb 2026AY 2018-19

Bench: Shri Manish Borad & Ms. Astha Chandra

For Appellant: Shri A.V. IyerFor Respondent: Shri Aviyogi Ambadkar

Section 142(1)Section 143(3)Section 263Section 56Section 80P(2)

…ified in the grounds of appeal, the impugned assessment order and the arguments submitted by the appellant. The main argument of the appellant is that the decision of the Hon'ble Supreme Court in case of Totgars Co- operative Sales Society Ltd. Vs. ITO, (SC) (322 ITR 283)(2010) is not applicable to the case of the appellant because the appellant has not invested any surplus fund and, therefore, its facts are different from the facts of the Totgars Co-operative Sales Society Ltd. case. However, this argument of the appellant is also not acceptable. The appellant has argued that the money invested in banks is not t…

Shree Sant Savta Gramin Bigar Seti Sahakari Patsanstha Maryadit, Pimpalgaon vs. Assessing Officer, Nashik

In the result, appeal of the Assessee is allowed

ITA 1597/PUN/2025[2016-17]Status: DisposedITAT Pune11 Feb 2026AY 2016-17

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.1597/Pun/2025 निर्धारण वषा / Assessment Year: 2016-17 Shree Sant Savta Gramin Bigar V Assessment Unit, Seti Sahakari Patsanstha S Income Tax Maryadit, Department, Delhi. Pimpalgaon, Niphad, Maharashtra – 422209. Pan: Aacas4098M Appellant/ Assessee Respondent /Revenue Assessee By Shri Sanket Joshi (Virtual) Revenue By Shri Sadananda – Jcit Date Of Hearing 10/02/2026 Date Of Pronouncement 11/02/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An 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 The A.Y.2016-17 Dated 27.11.2024 Emanating From The Assessment Order Passed Under Section 144 Of The I.T.Act, Dated 05.03.2024. The Assessee Has Raised The Following Grounds Of Appeal :

Section 144Section 148Section 250Section 271(1)(c)Section 271FSection 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…Sales Society(supra), it has been held that interest income is not arising from business of providing credit facility, which made it ineligible for deduction u/s.80P of the Act. In the case of Totagars Co-operative Sale Society Ltd., Vs. ITO, Karnataka [2010] 322 ITR 283(SC)vide order dated 08.02.2010, Hon’ble Supreme Court noted that fact that Assessee markets the agricultural produce of its members and retains the sale proceeds for some time. This sale proceeds pertaining to sale of agricultural produce was invested for a short period in fixed deposits. The dispute was regarding the interest accrued on said fix…

Irula Snake Catchers Industrial Co-Op. Society Ltd., Chennai vs. ITO, Ward-22(1), Chennai

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

ITA 1790/CHNY/2025[2020-21]Status: DisposedITAT Chennai11 Feb 2026AY 2020-21

Bench: Shri Manu Kumar Giri & Shris.R.Raghunathaआयकरअपीलसं. (Ita No.1790/Chny/2025 "नधा"रणवष"/Assessment Years: 2020-21 Irula Snake Catchers Industrial Co- V. Income Tax Officer, Operative Society Ltd, Non-Coporate Ward 22(1), Mahabalipuram Road, Tambaram Vadanemmli Village, Perur Post, Chennai-603 104 [Pan:Aaaai 7894 M] (अपीलाथ"/Assessee) (""यथ"/Respondent)

For Appellant: Mr. G Baskar, Advocate &For Respondent: Mr. Gouthami Manivasagam

Section 80PSection 80P(2)(a)

…savings bank account, treating it as income from other sources and holding it to be ineligible for deduction u/s. 80P. In doing so, the Assessing Officer relied on the judgment of the Hon’ble Supreme Court in Totgars Co- operative Sale Society Ltd. v. ITO (322 ITR 283), wherein it was held that interest earned from bank deposits does not constitute business income. 3. Being aggrieved by the assessment order, the Assessee preferred an appeal before the Commissioner of Income-tax (Appeals). The CIT(A), however, dismissed the appeal vide order dated ITA 1790 Chny 2025 (A Y 2020-21) Irula Snake Catchers Ind C…

Aurangabad Division Life Insurance Employees Co-Op Credit Society Ltd, Auranbad vs. ITO, Ward-1(1), Aurangabad

In the result, appeal of the assessee is allowed

ITA 3175/PUN/2025[2020-21]Status: DisposedITAT Pune10 Feb 2026AY 2020-21

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.3175/Pun/2025 निर्धारण वषा / Assessment Year: 2020-21 Aurangabad Divison Life V The Income Tax Officer, Insurance Employees Co-Op S Ward-1(1), Aurangabad. Credit Society Ltd., 11, Jeevan Prakash, Lic Office Building Adalat Road, Kranti Chowk, Aurangabad -431005 Pan: Aaaaa2245A Appellant/ Assessee Respondent /Revenue Assessee By Ca Payal Rathi (Virtual) Revenue By Shri Sadananda – Jcit Date Of Hearing 09/02/2026 Date Of Pronouncement 10/02/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An 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 The A.Y.2020-21 Dated 24.09.2025 Emanating From The Assessment Order Passed Under Section 143(3) Read With Section 144B Of The Income Tax Act, 1961

Section 143(3)Section 144BSection 250Section 56Section 66Section 80PSection 80P(2)(a)

…deduction u/s.80P of Rs.35,43,169/-. Aggrieved by the assessment order, Assessee filed appeal before ld.CIT(A) who confirmed the Assessment Order relying on the decision of Hon’ble Supreme Court in the case of CIT Vs. Totagar’s Cooperative Sale Society Ltd., 322 ITR 283. 3. In this case, admittedly assessee is a cooperative credit society registered under Maharashtra Cooperative Societies Act 1960 in the year 1991. Its members are employees of Life Insurance Corporation of India. Assessee had submitted before ld.CIT(A) that as per the Maharashtra Co-operative Societies Act, 1960 Assessee is required to maintain…

Income Tax Officer, Chennai vs. Railway Employees Cooperative Credit Society, Chennai

In the result, the both the appeals filed by the Revenue are dismissed

ITA 2096/CHNY/2025[2018]Status: DisposedITAT Chennai09 Feb 2026

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Ms. R. Anitha, Addl. CITFor Respondent: Shri. Vignesh Kumarasamy, Advocate

Section 143(3)Section 80P(2)Section 80P(2)(a)

…s.:2095 & 2096/Chny/2025 the decision in the case of SBI v. CIT (supra). While confirming the disallowance, the ld. CIT(A) has heavily relied on the decision of the Hon’ble Supreme Court in the case of Totgars Co-operative Sale Society Limited vs. ITO [2010] 322 ITR 283 (SC). 6.1 In the case of The Railway Employees’ Co-op. Credit Society Ltd. v. ITO (supra), the Coordinate Benches of the Tribunal, besides referring to the decision of the Ahmedabad Benches of the Tribunal vide order dated 31.10.2012 in the case of Jafari Momin Vikas Co-op Credit Society Ltd. v. ITO in I.T.A. No. 1491/Ahd/2012 for assessment yea…

Income Tax Officer, Chennai vs. Railway Employees Cooperative Credit Society Limited, Chennai

In the result, the both the appeals filed by the Revenue are dismissed

ITA 2095/CHNY/2025[2017-18]Status: DisposedITAT Chennai09 Feb 2026AY 2017-18

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Ms. R. Anitha, Addl. CITFor Respondent: Shri. Vignesh Kumarasamy, Advocate

Section 143(3)Section 80P(2)Section 80P(2)(a)

…s.:2095 & 2096/Chny/2025 the decision in the case of SBI v. CIT (supra). While confirming the disallowance, the ld. CIT(A) has heavily relied on the decision of the Hon’ble Supreme Court in the case of Totgars Co-operative Sale Society Limited vs. ITO [2010] 322 ITR 283 (SC). 6.1 In the case of The Railway Employees’ Co-op. Credit Society Ltd. v. ITO (supra), the Coordinate Benches of the Tribunal, besides referring to the decision of the Ahmedabad Benches of the Tribunal vide order dated 31.10.2012 in the case of Jafari Momin Vikas Co-op Credit Society Ltd. v. ITO in I.T.A. No. 1491/Ahd/2012 for assessment yea…

Deputy Commissioner of Income Tax, Chennai vs. M/S. Larsen & Toubro Group Employees Co-Op Thrift & Credit Society Limited, Chennai

In the result, appeal filed by the Revenue is dismissed

ITA 2883/CHNY/2025[2017-18]Status: DisposedITAT Chennai04 Feb 2026AY 2017-18

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

For Appellant: Mr.N. Arjun Raj, AdvocateFor Respondent: Mr.K. Ilaiyaraja, Addl.CIT

Section 80PSection 80P(2)(a)Section 80P(2)(d)

…Co-op. Thrift & Credit Society Ltd. :: 6 :: Therefore, the Assessing Officer was not justified in denying the said deduction to the assessee respondent. 11. The learned counsel has relied on the case of Totgars Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283/188 Taxman 282 (SC). However, the said case dealt with the interpretation, and the deduction, which would be applicable under Section 80P(2)(a)(i) of the I.T. Act. For, in the present case the interpretation that is required is of Section 80P(2)(d) of the I.T. Act and not Section 80P(2)(a)(i) of the I.T. Act. Therefore, the said judgment is inapp…

The Coimbatore Co-Operative Housing Society Ltd, Coimbatore vs. ITO, Ncw 1(1), Coimbatore

ITA 2593/CHNY/2025[2017-18]Status: DisposedITAT Chennai04 Feb 2026AY 2017-18

Bench: Shri Aby T. Varkey & Shri S.R. Raghunathaआयकर अपील सं./Ita No.2593/Chny/2025 िनधा"रण वष"/Assessment Year: 2017-18 V. The Coimbatore Co-Operative- The Income Tax Officer, Housing Society Ltd., Non-Corporate Ward-1(1), 15, Gopalapuram, 2Nd Street, Coimbatore. Coimbatore – 641 018. [Pan: Aabat 0297 N]

For Appellant: Shri S. Ramachandran, CAFor Respondent: Shri K. Ilaiyaraja, Addl.CIT

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

…m its savings bank account maintained with Axis Bank to the tune of Rs.11,25,431/-. The AO is noted to have disallowed the claim by citing the decision of Hon’ble Supreme Court in the case of Totgars, Co-operative Sale Society Ltd., vs. ITO reported in [2010] 322 ITR 283 (SC); and Citizen Co-operative Society Ltd., vs. ACIT reported in [2017] 397 ITR 1 (SC). On appeal, the Ld.CIT(A) is noted to have confirmed the action of the AO. The Ld.AR of the assessee assailed The Coimbatore Co-op Housing Society Ltd :: 4 :: the action of the Ld.CIT(A) and submitted that the AO/CIT(A) erred in applying the ratio of the afo…

Sahkari Ganna Vikas Samiti Limited Rupapur, Hardoi vs. The Income Tax Department/NFAC, ACIT, Sitapur

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 663/LKW/2025[2018-19]Status: DisposedITAT Lucknow30 Jan 2026AY 2018-19

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. Koushlendra Tiwari, CIT DR

Section 143(2)Section 143(3)Section 250Section 56Section 80PSection 80P(2)(a)

…and therefore was attributable to the cooperative activities. The ld. AO did not find this submission of the assessee acceptable. He referred to the decision of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Limited vs. ITO, (2010) 322 ITR 283 (SC) wherein the Hon’ble Supreme Court had held that the interest on FDRs and banks would come in the category of income from other sources and would be taxable under section 56 of the Act. He held that because the main object of the assessee was supply of cane to sugar mill, fertilizers and pesticides to farmers, advance of funds to farmers for…

Co-Operative Cane Development Union Ltd., Bahraich vs. Income Tax Officer-1, Bahraich

In the result, all the three appeals are partly allowed

ITA 601/LKW/2025[2020-21]Status: DisposedITAT Lucknow30 Jan 2026AY 2020-21

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR

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

…mbers). He held that the said deduction was not available to interest income which was in the nature of income from other sources. He relied upon the decision of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Limited vs. ITO, (2010) 322 ITR 283 (SC) and added the same to tax as income from other sources. 4. In the A.Y. 2020-21, the ld. AO noticed that the assessee had earned interests of Rs. 1.5 Crores on investment in Cooperative Banks and banks. He noted that the principles of mutuality i.e. that there must be complete identity between contributors and participators; that the actions…

Co-Operative Cane Development Union Ltd., Bahraich vs. Income Tax Officer-1, Bahraich

In the result, all the three appeals are partly allowed

ITA 600/LKW/2025[2018-19]Status: DisposedITAT Lucknow30 Jan 2026AY 2018-19

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR

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

…mbers). He held that the said deduction was not available to interest income which was in the nature of income from other sources. He relied upon the decision of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Limited vs. ITO, (2010) 322 ITR 283 (SC) and added the same to tax as income from other sources. 4. In the A.Y. 2020-21, the ld. AO noticed that the assessee had earned interests of Rs. 1.5 Crores on investment in Cooperative Banks and banks. He noted that the principles of mutuality i.e. that there must be complete identity between contributors and participators; that the actions…

Co-Operative Cane Development Union Ltd., Bahraich vs. Income Tax Officer-1, Bahraich

In the result, all the three appeals are partly allowed

ITA 599/LKW/2025[2013-14]Status: DisposedITAT Lucknow30 Jan 2026AY 2013-14

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharyita Nos.599, 600 & 601/Lkw/2025 A.Ys. 2013-14, 2018-19 & 2020-21 Cooperative Cane Development Vs. Income Tax Officer-1, 423A, Union Ltd., Bahraich, C/O Vaishnavpuram, Huzoorpur Ayyubi Chambers, Raniganj, Road, Bahraich, Uttar Pradesh Lakhimpur Kheri-262701, U.P. 271801 Pan: Aaaac8503F (Appellant) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 21.01.2026 Date Of Pronouncement: 30.01.2026 O R D E R Per Bench These Three Appeals Have Been Filed Against The Orders Of The Ld. Cit(A), Nfac On 25.06.2025 (For The Assessment Year 2013-14) & 26.06.2025 (For The Assessment Year 2018-19) & 4.07.2025 (For The Assessment Year 2020-21), Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Various Orders Passed By The Ld. Ao Under Section 143(3) For The Assessment Years 2013-14, 2018-19 & 2020-21. The Grounds Of Appeal In The Aforesaid Three Appeals Are As Under:- A.Y. 2013-14 “(1) That The Authorities Below Erred On Facts & In Law In Not Allowing Deduction U/S 80P(2)(A)(Iii) & 80P(2)(I) Of I. T. Act On Interest Received On Investments Held With Banks In Form Of F.D.R.'S & Interest On Saving Bank Account Rs. 72,38,730/-. (2) That The Authorities Below Erred On Facts In Not Considering Investments In Deposits With Banks Has Been Made As Per Statutory Requirements & The Interest So Realized On Such Investments Shall Be Attributable To The Activity Of Providing Credit Facilities & Marketing Agriculture Produce. Cooperative Cane Development Union Ltd. A.Ys. 2013-14, 2018-19 & 2020-21

For Appellant: Sh. K.R. Rastogi, C.AFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR

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

…mbers). He held that the said deduction was not available to interest income which was in the nature of income from other sources. He relied upon the decision of the Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Limited vs. ITO, (2010) 322 ITR 283 (SC) and added the same to tax as income from other sources. 4. In the A.Y. 2020-21, the ld. AO noticed that the assessee had earned interests of Rs. 1.5 Crores on investment in Cooperative Banks and banks. He noted that the principles of mutuality i.e. that there must be complete identity between contributors and participators; that the actions…

Mahaveer Nagari Sahakari Patpedhi Limited, Amalner vs. ITO Ward 1(4) Jalgaon, Jalgaon

In the result, appeal of the assessee is allowed

ITA 2228/PUN/2025[2016-17]Status: DisposedITAT Pune30 Jan 2026AY 2016-17

Bench: SHRI VINAY BHAMORE (Judicial Member)

Section 139Section 139(1)Section 143(1)(a)Section 144BSection 147Section 148Section 148ASection 250Section 80PSection 80P(2)(a)

…of the case. 4) On the facts and circumstances of the case and in law, the learned CIT(A) has erred in confirming the disallowance of deduction u/s 80P by placing reliance on the decision of Hon'ble SC in Totgars Co- Operative Sale Society Ltd. v. ITO [2010] 322 ITR 283/188 Taxman 282 (SC), facts of which are not applicable to the instant case 5) The appellant craves the permission to add, amend, modify, alter, revise, substitute, delete any or all grounds of appeal, if deemed necessary at the time of hearing of the appeal.” 2 ITA Nos.2227 & 2228/PUN/2025 [A] Findings & Analysis : 2. We have heard both the par…

Mahaveer Nagari Sahakari Patpedhi Limited, Amalner vs. ITO Ward 1(4) Jalgaon, Jalgaon

In the result, appeal of the assessee is allowed

ITA 2227/PUN/2025[2015-16]Status: DisposedITAT Pune30 Jan 2026AY 2015-16

Section 139Section 139(1)Section 143(1)(a)Section 144BSection 147Section 148Section 148ASection 250Section 80PSection 80P(2)(a)

…of the case. 4) On the facts and circumstances of the case and in law, the learned CIT(A) has erred in confirming the disallowance of deduction u/s 80P by placing reliance on the decision of Hon'ble SC in Totgars Co- Operative Sale Society Ltd. v. ITO [2010] 322 ITR 283/188 Taxman 282 (SC), facts of which are not applicable to the instant case 5) The appellant craves the permission to add, amend, modify, alter, revise, substitute, delete any or all grounds of appeal, if deemed necessary at the time of hearing of the appeal.” 2 ITA Nos.2227 & 2228/PUN/2025 [A] Findings & Analysis : 2. We have heard both the par…

Sri Ramaseva Bahusara Kshariya Co-Op. Society Limited, Shimoga vs. Pr. CIT, Bengaluru-1, Bengaluru

In the result the appeal filed by the assessee is allowed

ITA 861/BANG/2025[2020-21]Status: DisposedITAT Bangalore30 Jan 2026AY 2020-21

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21 M/S. Sri Ramaseva Bahusara Kshariya Co-Op. Society Ltd. 01, Ramanna Setty Park Spm Road, Doddapete So Vs. Principal Cit Shimoga 577 202 Bengaluru-1 Karnataka Pan No :Aaajs0083P Appellant Respondent Appellant By : Sri V. Srinivasan, A.R. Respondent By : Sri Kiran D., D.R. Date Of Hearing : 11.12.2025 Date Of Pronouncement : 30.01.2026

For Appellant: Sri V. Srinivasan, A.RFor Respondent: Sri Kiran D., D.R

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

…e had received certain interest income on investment in banks which are required to be added to the income of the assessee u/s. 56 of the Act as held by the Hon’ble Supreme Court in the case of Totagars Cooperative sale Society Limited vs. Income Tax Officer (322 ITR 283) and in view of the above, the assessment proceedings u/s. 143(3) r.w.s 144B of the Act dated 02/09/2022 is found to be erroneous in so far as it is prejudicial to the interest of revenue within the meaning of section 263 of the Act, as such the AO has failed to examine and verify the above issue and failed to tax the income from other sources. T…

Bharath Credit Co-Operative Society Limited, Bangalore vs. Pr. CIT, Bangalore -1, Bangalore

In the result the appeal filed by the assessee is allowed

ITA 788/BANG/2025[2020-21]Status: DisposedITAT Bangalore30 Jan 2026AY 2020-21

Bench: Ms. Padmavathy S. & Shri Keshav Dubeyassessmentyear:2020-21

For Appellant: Sri Ravishankar S.V., A.RFor Respondent: Sri Shivanand H Kalakeri, D.R

Section 139(1)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 263Section 56Section 80P(2)Section 80P(2)(a)

…ITA No.788/Bang/2025 Bharath Credit Co-operative Society Limited, Bengaluru IN THE INCOME TAX APPELLATE TRIBUNAL “A’’BENCH: BANGALORE BEFORE MS. PADMAVATHY S., ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER AssessmentYear:2020-21 Bharath Credit Co-operative Society Limited #748/18 8th Main Road Mahalakshmi Layout Pr. CIT Vs. Bengaluru 560 086 Bengaluru-1 Karnataka Bengaluru PAN NO :AAAAB4144K APPELLANT RESPONDENT Appellant by : Sri Ravishankar S.V., A.R. Respondent by : Sri Shivanand H Kalakeri, D.R. Date of Hearing : 24.11.2025 Date of Pronouncement : 30.01.2026 O R D E R PER KESHAV DUBEY, JUDI…

Nere Vibhag Nagari Sah. Patsanstha Maryadit, Pune vs. Income Tax Officer Ward 5(4), Pune

In the result, appeal of the Assessee is partly allowed

ITA 2374/PUN/2025[2017-18]Status: DisposedITAT Pune29 Jan 2026AY 2017-18

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.2374/Pun/2025 निर्धारण वषा / Assessment Year: 2017-18 Nere Vibhag Nagari Sah. V Income Tax Officer, Patsanstha Maryadit, S Ward-5(4), Pune. 61, Mangalwar Peth, Tal – Bhor, Pune – 412206. Pan: Aacan2385C Appellant/ Assessee Respondent /Revenue Assessee By Shri Pramod S Shingte Revenue By Shri Ajitesh Kumar Meena – Addl.Cit Date Of Hearing 27/01/2026 Date Of Pronouncement 29/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An 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 The A.Y.2017-18 Dated 31.07.2025 Emanating From The Assessment Order Passed Under Section 144 Of The Act, Dated 04.12.2019. The Assessee Has Raised The Following Grounds Of Appeal :

Section 144Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अधिकरण ”एस एम सी” न्यायपीठ पुणेमें। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपऩल सं. / ITA No.2374/PUN/2025 निर्धारण वषा / Assessment Year: 2017-18 Nere Vibhag Nagari Sah. V Income Tax Officer, Patsanstha Maryadit, s Ward-5(4), Pune. 61, Mangalwar Peth, Tal – Bhor, Pune – 412206. PAN: AACAN2385C Appellant/ Assessee Respondent /Revenue Assessee by Shri Pramod S Shingte Revenue by Shri Ajitesh Kumar MEena – Addl.CIT Date of hearing 27/01/2026 Date of pronouncement 29/01/2026 आदेश/ ORDER PER…

Totgars Co-operative Sale Society Ltd. v. ITO

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