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 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 80P Section 80P(4)Section 250 Section 56 Section 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

Kshatriy Gadkari Maratha Co-Op.Credit Society Ltd., Mumbai vs. ITO 21(2)(1), Mumbai

In the result, appeals of the assessee are allowed

ITA 3646/MUM/2018[2013-14]Status: DisposedITAT Mumbai26 Apr 2019AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Rajendra KadrekarFor Respondent: Shri Kailash C. Kanojiya

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

…e earned by the assessee from cooperative banks and in coming to such conclusion the Ld.CIT(A) referred to the decision of the Coordinate Bench and also the decision of the Hon'ble Apex court in the case of The Totgar Cooperative Sales Society Limited v. ITO [322 ITR 283]. He also relied on the Coordinate Bench decision in the case of Vaibhav Cooperative Credit Society v. ITO in ITA.No. 5819/Mum/2014 dated 17.03.2017. 4. Ld. DR vehemently supported the orders of the authorities below. 5. Heard rival submissions, perused the orders of the authorities below. The issue in the case of The Totgar Cooperative Sales So…

Sureshdada Jain Nagari Sahakari Patsanstha Maryadit, Jalgaon vs. Principal Commissioner of Income-Tax : 2

In the result, the appeal is allowed on merits

ITA 713/PUN/2016[2011-12]Status: DisposedITAT Pune09 Apr 2019AY 2011-12

Bench: Shri R.S. Syal & Shri Vikas Awasthy

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

…on interest income, earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio 4 Sureshdada Jain Nagari Sahakari Patsanstha Maryadit laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Narayan Nagari 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 Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). In th…

M/S Karnataka State Government House Building Co-Operative Society Ltd, Bangalore vs. Income Tax Officer Ward-3(2)(2), Bangalore

In the result, all the three appeals of the assessee are partly allowed as common grounds of law are raised by the assessee

ITA 1500/BANG/2018[2009-10]Status: DisposedITAT Bangalore22 Mar 2019AY 2009-10

Section 14Section 28Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…ITA.1500, 1501/B/18 & ITA.77/B/2019 Page - 4 integra, for the said issue has been decided by the Income-tax Appellate Tribunal itself in different cases . . .". No other binding precedent was discussed in the said judgment. Of course, the Bench has observed that a co-operative bank is a specie of the genus co-operative society, with which we agree, but as far as applicability of section 80P(2) of the Act is concerned, the applicability of the Supreme Court's decision cannot be restricted only if the income was to fall under section 80P(2)(a) of the Act and not under section 80P(2)(d) of the Act. It was submitte…

Income Tax Officer, Ward-5(3), Hyderabad vs. State Bank of Hyderabad Employee'S Cooperative Credit Society Limited, Hyderabad

In the result, appeal of the revenue is dismissed

ITA 1874/HYD/2017[2013-14]Status: DisposedITAT Hyderabad15 Mar 2019AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2012-13 Income-Tax Officer, Vs. State Bank Of Hyderabad Ward – 5(3), Hyderabad. Employee’S Cooperative Credit Society Ltd., Hyderabad. Pan – Aaias 4729D Appellant Respondent Assessee By: Shri Nilanjan Dey Revenue By: Shri A.V. Raghuram Date Of Hearing: 21/02/2019 Date Of Pronouncement: 15/03/2019 O R D E R

For Appellant: Shri Nilanjan DeyFor Respondent: Shri A.V. Raghuram

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

…s made with Nationalized Banks of Rs.2,98,78,718/- and other income of Rs.2,46,195/-. 3. The Ld. CIT(A) erred in not appreciating the principle laid down by Hon'ble Supreme Court in the case of M/s. The Totgars Cooperative Sale Society Ltd Vs. ITO reported in 322 ITR 283 that the interest income earned on FDRs with other banks cannot be attributed to the activity of the society. 4. The Ld.CIT(A) erred in ignoring the fact that Revenue's appeal against the Hon'ble High Court's order in W.P No.12727 of 2016 dated 15.03.2017 in the case 3 I.T.A. No. 1874/Hyd/17 State Bank Employees’ Cooperative Credit Society Ltd.…

Dhanashree Multistate Credit Co-Operative Society Ltd, Solapur vs. Income-Tax Officer, Ward - 1, Pnadharpur

In the result, the appeal of the assessee is allowed

ITA 1250/PUN/2018[2015-16]Status: FixedITAT Pune01 Mar 2019AY 2015-16

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri P.S. ShingteFor Respondent: Shri Rajesh Gawali

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

…rt term deposits with the bank was entitled to deduction under section 80P(2)(a)(i) of the Act. The Honble High Court of Karnataka after considering the decision of the Hon'ble Supreme Court in the case of Totgar‟s Cooperative Sale Society Ltd. Vs. ITO (2010) 322 ITR 283 (SC) held that the interest earned by such Cooperative Societies on short term deposits with scheduled banks is eligible for deduction under section 80P(2)(a)(i) of the Act. The Tribunal also considered the contrary decision of the Honble High Court of Delhi in Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT and held as under:- “9. We…

ITO, Trivandrum vs. Shri Gopinath Muthukad, Trivandrum

In the result, the appeal of the Revenue is allowed and the Cross Objection

ITA 349/COCH/2009[2003-04]Status: DisposedITAT Cochin01 Mar 2019AY 2003-04

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 143(3)Section 263Section 80Section 80ASection 80R

…t was submitted that a distinction has been made between gross total income and total income as per the above Section. The Ld. AR relied on the judgment of the Apex Court in the case of M/s Totgars Cooperative Sale Society Ltd. Vs. Income Tax Officer (2010) 322 ITR 283) wherein the distinction was recognized and in paragraph-10, it was held as under:- "Deduction u/s 80P(2)(a)(i) of the Act is given in Chapter-VIA, which in turn deals with "deductions in respect of certain cases". Sec. 80P(1), inter-alia, states that where the gross total income of a Co-operative Society includes any income from one or more spe…

Sri Uma Kamandaleswara Co - Operative Rural Bank Ltd., Athreyapuram vs. The Addl. CIT, Kakinada

In the result, appeal filed by the assessee is allowed

ITA 199/VIZ/2017[2008-2009]Status: DisposedITAT Visakhapatnam13 Feb 2019AY 2008-2009

Bench: Shri V. Durga Rao, Hon’Blesri Uma Kamandaleswara Vs. Addl.Cit, Kakinada Co-Op Rural Bank Ltd., Ryali, Range, Kakinada. Athreyapuram Mandalm, East Godavari District. Pan No. Aadas 4663 B (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri P.S. Murthy – Sr.DR

Section 80P(2)(a)

…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. 10. In order to understand the scope of the controversy, it would be better to present in simple terms, the ambit of clause (a) of sub-section (2) of section 80P. This clause is intended for the benefit of (1) certain types of co-operative societies but (2) confined only to the activities listed in sub-clauses (i) to (vii). In other words, claus…

Income-Tax Officer, Ward – 3, Satara vs. M/S. Shri Bhairavnath Multistate Cooperative Credit Society Limited, Satara

In the result, the appeal of the Revenue stands dismissed

ITA 2996/PUN/2017[2013-14]Status: DisposedITAT Pune08 Feb 2019AY 2013-14

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Prateek Jha

Section 143(1)Section 143(2)Section 2Section 44ASection 80PSection 80P(2)(a)Section 80P(2)(ai)Section 80P(2)(d)

…erest arising there from did not form part of its business profits. A copy of the judgment is placed in the Paper Book. 5.2.4 The ld AO has heavily relied on the judgment of the Supreme Court in the case of Totgar's Co-operative Sale Society Ltd v ITO [2010] 322 ITR 283 (SC). It is submitted that the facts of the assessee's case are clearly distinguishable from the facts of the case of Totgar's Co-operatives. The Totgar's Co-operative Sale Society Ltd was engaged in the business of providing credit facilities to its members and marketing their agricultural produce. Sometimes the society retained the sale proceed…

The Government Servants Co.-Op. Credit Ltd., Vadodara vs. The Income Tax Officer, Ward-3(1)(1), Vadodara

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

ITA 108/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad31 Jan 2019AY 2013-14

For Appellant: NoneFor Respondent: Shri Lalit P. Jain, Sr. D.R

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

…ow claimed by the assessee under section 80P(2)(d) and not under section 80P(2)(a) of the Act. The reason is that now the investments and deposits after the Supreme Court's decision against the assessee in Totgar's Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283/188 Taxman 282 (SC), the assessee herein has shifted the deposits and investments from Schedule Banks to Co-operative Bank and such Co-operative Bank is essentially a Co- operative Society also and clause (d) allows deduction of income by way of interest or dividends derived by the assessee co-operative Society from its investments with any other…

The Ludhiana District Co-Operative Milk Producers Union Limited, Ludhiana vs. Addl. CIT, Ludhiana

ITA 1467/CHANDI/2016[2009-10]Status: DisposedITAT Chandigarh28 Jan 2019AY 2009-10

For Appellant: Shri Parveen Jindal, CAFor Respondent: Smt.Chanderkanta, Sr.DR

Section 250(6)Section 80P(2)(d)

…nder section 80P(2)(d) of the Act. While making the impugned addition, the Assessing Officer also took support from the decision of the Honorable Supreme Court in the case of Totgars Co-operative Sales Society Limited Vs. Income Tax Officer reported at (2010) 322 ITR 283(SC). Another ground for making the impugned addition was that the assessee co- op society has not disclosed the mechanism for earning and paying the interest from/to MILKFED. On the other hand, the Ld. AR of the assessee co-op society has submitted that the assessee co-op society has correctly claimed the deduction under 80P(2)(d) of the Act as t…

Sumitra Gramin Bigar Sheti Sahakari Pat Sanstha Maryadit, Solapur vs. Income-Tax Officer

Appeal of the assessee is partly allowed

ITA 2476/PUN/2016[2008-09]Status: DisposedITAT Pune25 Jan 2019AY 2008-09

Bench: Shri R.S.Syal & Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Sunil GanooFor Respondent: Shri S. Das

Section 143(3)Section 56Section 80Section 80P

…IT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income, earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit (supra) preferred to go with the view taken in favour of the assessee by the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). In…

Income Tax Officer vs. Swa Ashokrao Bankar Nagari Sahakari Patsanstha Maryadit, Nashik

In the result, the appeal is dismissed

ITA 155/PUN/2017[2013-14]Status: DisposedITAT Pune23 Jan 2019AY 2013-14

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 80PSection 80P(2)(a)

…(2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest income earned from banks under similar circumstances. Both the Hon’ble High Courts have taken into consideration the ratio laid down in the case of Totgar’s Cooperative Sale Society Ltd. 322 ITR 283 (SC). There being no direct judgment from the Hon’ble jurisdictional High Court on the point, the Tribunal in Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit (supra) preferred to go with the view taken in favour of the assessee by the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supr…

The ITO, WD-2, Thiruvalla vs. M/S.Mylapra Service Co-Op Bank Ltd, Pathanamthitta

ITA 499/COCH/2018[2015-16]Status: DisposedITAT Cochin16 Jan 2019AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt. A.S.BindhuFor Respondent: Sri. C.A.Jojo

Section 56Section 80PSection 80P(2)(a)

…has not challenged the decision only because of low tax effect prescribed for filing further appeal in that case. 3. The Ld. CIT (A) ought to have considered the decision of Hon'ble SC in the case of Totgar's Co-operative Sale Society Ltd. (2010) reported in 322 ITR 283 where Hon'ble Supreme court was of the view that such interest income earned by assessee would come in category of 'income from other sources' taxable U/S 56 of the income tax act and would not quality for deduction as business income 80P (2)(i). 4. The Ld. CIT (A) ought to have noticed that, in a communication received from the office of the PC…

ITO, WD-5, Alappuzha vs. The Muttom Service Co-Op Bank Ltd, Cherthala

ITA 435/COCH/2018[2015-16]Status: DisposedITAT Cochin16 Jan 2019AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Smt. A.S.BindhuFor Respondent: Sri. C.A.Jojo

Section 56Section 80PSection 80P(2)(a)

Assistant Commissioner of Income Tax, Central Circle-2(3), Bangalore vs. M/S Vasavi Housing Co-Operative Society Ltd, Bangalore

In the result, appeal by the Revenue for Assessment Year 2014-15 is treated as allowed for statistical purposes

ITA 1853/BANG/2017[2014-15]Status: DisposedITAT Bangalore11 Jan 2019AY 2014-15

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2014-15 The Assistant Commissioner Of Vs. M/S. Vasavi Housing Income-Tax, Co-Operative Society Ltd., No.108/1, Sri Chakra, 2Nd Floor, Central Circle – 2(3), Bangalore. East Park Road, Opp. Vasavi Mahal, 8Th Cross, Malleshwaram, Bangalore – 560 003. Pan : Aabav 4661 L Appellant Respondent Assessee By : Smt. Sri Nandini Das, Addl. Cit : Revenue By Shri. Shreesh Kumar Eshwar Hegde, Ca Date Of Hearing : 26.11.2018 Date Of Pronouncement : 11.01.2019

For Appellant: Smt. Sri Nandini Das, Addl. CIT

Section 143(3)Section 2(24)(viia)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…in the case of Tumkur Merchants Souharda Credit Co-operative Society Ltd. Vs. ITO 230 taxman 309 (Kam) wherein the Hon'ble Karnataka High Court considered the decision of the Hon'ble Apex Court in the case of The Totgar's Co- operative Sales Society Ltd., in 322 ITR 283 (SC) and held that interest income in respect of temporary parking of own surplus funds not immediately required is eligible for deduction u/s.80P(2)(a)(i) of the Act. The learned DR relied on a subsequent decision of the Hon'ble Karnataka High Court in the case of PCIT Vs. Totgars Co-operative Sale Society Ltd. 395 ITR 611 (Karn.). 7. We have c…

ITO Non Corporate Ward 6(4), Chennai vs. The Railway Employees Co-Op Credit Society Ltd., Chennai

In the result, the appeals in ITA Nos

ITA 1138/CHNY/2018[2014-15]Status: DisposedITAT Chennai02 Jan 2019AY 2014-15

Bench: Shri Abraham P.George & Shri Duvvuru R.L.Reddy

For Respondent: Mr.R.Clement Ramesh –

Section 148Section 80PSection 80P(2)(a)Section 80P(2)(d)

…er the Co-operative Societies Act, 1912 (2 of 1912), or under any other law for the time being in force in any State for the registration of co-operative societies]. 6.2 The Hon’ble Supreme Court in case of The Totgars’ Cooperative Sale Society Ltd. v. ITO, [322 ITR 283 (SC)] held that, the words “the whole of the amount of profits and gains of business” in section 80P(2)(a) emphasizes that the income in respect of which deduction is sought must constitute the operational income and not the other income which accrues to the Society. Accordingly, it was held that interest earned by appellant cooperative society o…

ITO Non Corporate Ward 6(4), Chennai vs. The Railway Employees Co-Op Credit Society Ltd., Chennai

In the result, the appeals in ITA Nos

ITA 1137/CHNY/2018[2011-12]Status: DisposedITAT Chennai02 Jan 2019AY 2011-12

Bench: Shri Abraham P.George & Shri Duvvuru R.L.Reddy

For Respondent: Mr.R.Clement Ramesh –

Section 148Section 80PSection 80P(2)(a)Section 80P(2)(d)

ITO Non Corporate Ward 6(4), Chennai vs. The Railway Employees Co-Op Credit Society Ltd., Chennai

In the result, the appeals in ITA Nos

ITA 1136/CHNY/2018[2010-11]Status: DisposedITAT Chennai02 Jan 2019AY 2010-11

Bench: Shri Abraham P.George & Shri Duvvuru R.L.Reddy

For Respondent: Mr.R.Clement Ramesh –

Section 148Section 80PSection 80P(2)(a)Section 80P(2)(d)

M/S Ing Vysya Officers Credit Co-Operative Society Ltd, Bangalore vs. Income Tax Officer Ward-5(2)(5), Bangalore

In the result, the assessee’s appeals for Assessment Years 2010-11 and 2013-14 are treated as allowed for statistical purposes

ITA 1203/BANG/2017[2013-14]Status: DisposedITAT Bangalore02 Jan 2019AY 2013-14

Bench: Shri. N. V. Vasudevan & Shri Jason P Boaz

For Appellant: Shri. Srinivasan V, AdvocateFor Respondent: Smt. Sri Nandini Das, Addl. CIT

Section 56Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…e interest income is not assessed as business income, the claim for deduction cannot be allowed. In coming to the above conclusion, the AO relied on the decision of the Hon’ble Supreme Court in the case of The Totgar’s Co-operative Sales Society Ltd., Vs. ITO 322 ITR 283 (SC) wherein the Hon’ble Supreme Court held that the benefit of deduction u/s 80P(2)(a)(i) of the Act is only on income which is assessable under the head income from business. Interest earned on investment of surplus funds not immediately required in short term deposits and securities by a Co-operative Society providing credit facilities to memb…

Ing Vysya Officers Credit Co-Operative Society Ltd, Bangalore vs. Commissioner of Income Tax, Bangalore

In the result, the assessee’s appeals for Assessment Years 2010-11 and 2013-14 are treated as allowed for statistical purposes

ITA 1752/BANG/2016[2010-11]Status: DisposedITAT Bangalore02 Jan 2019AY 2010-11

Bench: Shri. N. V. Vasudevan & Shri Jason P Boaz

For Appellant: Shri. Srinivasan V, AdvocateFor Respondent: Smt. Sri Nandini Das, Addl. CIT

Section 56Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)