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

Sardar Nagrik Sahakari Bank Ltd., Vadodara vs. ITO, Ward 3(1)(3), Baroda

In the result, the appeal of the assessee is partly allowed

ITA 2157/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2014-15

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita Nos.2156 & 2157/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2013-2014 & 2014-2015 Sardar Nagrik Sahakari Bank Ltd Ito, ‘’B’’, Alankar Apartment, Ward 3(1)(3), Vs. Parkarwada, Dandia Bazar, Baroda. Vadodara. Pan: Aaabt2648D

For Respondent: Shri Vinod Talwani, Sr.DR

Section 80PSection 80P(2)(a)

…deration recently before Hon'ble Gujarat High Court in the case of State Bank of India (SBI) Vs CIT [2016] 72 taxmann.com 64 (Gujarat) wherein all cases on this issue including Apex Court decision in the case of Totgars Co-operative Sale Society v. ITO [2010] 322 ITR 283(SC) and CIT vs jafari Momin in Vikas Co-op. Credit Society Ltd. [2014] 362 ITR 331 (Guj.) were considered. Hon'ble Gujarat High Court has followed Totgars Co-operative Sale Society (Supra) and distinguished Jafari Momin Vjkas Co-op. Credit Society Ltd. (Supra) as well as CIT Vs Baroda Peoples Co-op. Bank Ltd. [2005] 280 !TR 282 (Guj.). Another la…

Sardar Nagrik Sahakari Bank Ltd., Vadodara vs. ITO, Ward 3(1)(3), Baroda

In the result, the appeal of the assessee is partly allowed

ITA 2156/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2013-14

For Respondent: Shri Vinod Talwani, Sr.DR

Section 80PSection 80P(2)(a)

Kalbhairavnath Gramin Bigarsheti Sahakari Sanstha Maryadit, Pune vs. Income-Tax Officer, Ward - 14(3), Pune

ITA 3057/PUN/2017[2014-15]Status: DisposedITAT Pune31 Dec 2018AY 2014-15

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita No.3057/Pun/2017 यििाारण वषा / Assessment Year : 2014-15 Kalbhairavnath Gramin Bigarsheti Sahakari Pat Sanstha Maryadit, At & Post, Yewat, Taluka Daund, अऩीऱाथी/Appellant Dist. Pune – 412214 …. Pan: Aaaak0302J Vs.

For Appellant: NoneFor Respondent: Shri M.K. Verma

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

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ एक-सदस्य मामऱा पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM आयकर अपीऱ सं. / ITA No.3057/PUN/2017 यििाारण वषा / Assessment Year : 2014-15 Kalbhairavnath Gramin Bigarsheti Sahakari Pat Sanstha Maryadit, At & Post, Yewat, Taluka Daund, अऩीऱाथी/Appellant Dist. Pune – 412214 …. PAN: AAAAK0302J Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 14(3), Pune अऩीऱाथी की ओर से / Appellant by : None प्रत्यथी की ओर से / Respondent by : Shri M.K. Verma सुनवाई की तारीख / घोषणा की तारीख / Dat…

Bijapur Co-Op Credit Society Ltd, Vijayapur vs. Income-Tax Officer, Vijayapur

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

ITA 1314/BANG/2016[2012-13]Status: DisposedITAT Bangalore31 Dec 2018AY 2012-13

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

For Appellant: Shri S. Ramasubramanian, CAFor Respondent: Shri R.N. Siddappaji, Addl. CIT (DR)

Section 5Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…ent of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars Co-operative Sale Society Ltd. (supra) and also the judgement of Hon’ble Apex Court rendered in the case of Totgars Cooperative Sales Society Ltd. vs. ITO as reported in 322 ITR 283 (SC). 12. We have considered the rival submissions and in view of the facts of present case, we feel it proper that the matter should go back to the file of AO for fresh decision after examining the facts of the present case in the light of these two judgements of Hon'ble Karnataka High Court rendered in the case of PCIT and Another Vs. Totagars…

Ntt Data Global Delivery Services Ltd., Bangalore vs. DCIT, New Delhi

The appeal of the assessee is partly allowed

ITA 5196/DEL/2014[2009-10]Status: DisposedITAT Delhi20 Dec 2018AY 2009-10

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishintt Data Global Delivery Vs. Dcit, Services Ltd, Circle-13(1), No. 17, South End Road, New Delhi Bangalore Pan: Aabck7777J (Appellant) (Respondent)

For Appellant: Shri Purushottam, AdvFor Respondent: Shri Amit Katoch, CIT DR

Section 10Section 10ASection 143

…entitled to import entitlements, which it can sell. The sale consideration therefrom cannot, in our view, be held to constitute a profit and gain derived from the assessee's industrial undertaking." 22. In Totgars Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283/188 Taxman 282, which judgment was relied upon by the Division Bench of this Court for the later years also while deciding Principal CIT v. Totagar's Co-operative Societies Sales Ltd. [2017] 395 ITR 611/83 taxmann.com 140 (Kar.), the Hon'ble Supreme Court held that the profits and gains of business attributable to one of the activities specified…

Mohol Nagari Sahakari Pat Purvatha Sanstha Maryadit, Solapur vs. Income-Tax Officer, Ward - 2, Pandharpur

In the result, the appeal is allowed

ITA 584/PUN/2018[2014-15]Status: DisposedITAT Pune13 Dec 2018AY 2014-15

Bench: Shri R.S. Syal

For Appellant: None (written submission)For Respondent: Shri M.K. Verma

Section 80Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. / ITA No.584/PUN/2018 "नधा"रण वष" / Assessment Year : 2014-15 Mohol Nagari Sahakari Pat Purvatha Sanstha Maryadit, Market Yard, At Post- Mohol, Dist.- Solapur-413 213 Maharashtra PAN : AAAAM1185F …....अपीलाथ" / Appellant बनाम / V/s. The Income Tax Officer, Ward-2, Pandharpur. ……""यथ" / Respondent Assessee by : None (written submission) Revenue by : Shri M.K. Verma सुनवाई क" तार"ख / Date of Hearing : 12.12.2018 घोषणा क" तार"ख / Date of Pronouncement : 13.12.2018 आदेश / ORDER PER R.S. SYAL, VP…

M/S. Ratnatray Gramin Bigar Sheti Sah. Pat. Sanstha Maryadit, Solapur vs. Income-Tax Officer, Ward - 2, Pandharpur

In the result, the appeal for A

ITA 559/PUN/2018[2012-13]Status: DisposedITAT Pune11 Dec 2018AY 2012-13

Bench: Shri R.S. Syalआयकर अपील सं. / Ita Nos.559 & 560/Pun/2018 िनधा"रण वष" / Assessment Years : 2012-13 & 2014-15

Section 40Section 80P

…(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…

M/S. Malnad Areca Marketing Co-Operative Society Ltd, Shivamogga vs. Assistant Commissioner of Income Tax, Circle-1, Shivamogga

In the result, appeal by the revenue is treated as allowed for statistical purpose

ITA 49/BANG/2018[2012-13]Status: DisposedITAT Bangalore07 Dec 2018AY 2012-13

Bench: Shri N.V Vasudevan & Shri Jason P Boazassessment Year : 2012-13

For Appellant: Shri Rakesh U.R, C.AFor Respondent: Smt. Sri Nandini Das, Addl. CIT

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

…interest income is not assessed as business income, the claim for deduction cannot be allowed. In coming to the above conclusion, the CIT(A) relied on the decision of the Hon’ble Supreme Court in the case of The Togar’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 ITA No. 49/B/18 3 from business. Interest earned on Investment of surplus funds not immediately required in short term deposits and securities by a co- operative society providing cred…

Chatrapati Shivaji Co-Operative Credit Society Limited, Bagalkot vs. Income Tax Officer Ward-2, Bagalkot

In the result, appeal by the Assessee is treated as allowed for statistical purpose

ITA 2619/BANG/2018[2015-16]Status: DisposedITAT Bangalore07 Dec 2018AY 2015-16

Bench: Shri N.V Vasudevan & Shri Jason P Boazassessment Year : 2015-16

For Appellant: Shri Veeranna M Murgod, C.AFor Respondent: Smt. Sri Nandini Das, Addl. CIT

Section 80Section 801Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH ‘A’ BEFORE SHRI N.V VASUDEVAN, VICE PRESIDENT AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER Assessment year : 2015-16 Chatrapati Shivaji Co-operative Vs. The Income-tax Officer, Credit Society Ltd., Ward-2, Bagalkot. Umarameshwar Complex, Jamakhandi Bagalkot. PAN – AAAAC 7565 M. APPLICANT RESPONDENT Appellant by : Shri Veeranna M Murgod, C.A Respondent by : Smt. Sri Nandini Das, Addl. CIT Date of hearing : 26.11.2018 Date of Pronouncement : .12.2018 O R D E R PER SHRI N.V VASUDEVAN, VICE PRESIDENT : This is an appeal by the Assessee against the order dat…

M/S.Prathmik Krushi Pattina Sahakar Sangh Niyamita, Koppal vs. Income-Tax, Ward-1, Hospet

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

ITA 1957/BANG/2018[2012-13]Status: DisposedITAT Bangalore07 Dec 2018AY 2012-13

Bench: Shri Arun Kumar Garodiaassessment Year : 2012-13

For Appellant: Shri Shivprasad S. Parnatti, CAFor Respondent: Smt. Padma Meenakshi, JCIT (DR)

Section 3Section 80P

…l.” 3. Brief facts are that as per para no. 7 of the order of CIT(A), the revenue has decided the issue against the assessee following the judgement of Hon’ble Apex Court rendered in the case of Totagars’ Co-operative Sales Society Ltd. Vs. ITO as reported in 322 ITR 283(SC). In the same Para of his order on page no. 11, he has also referred to another judgement of Hon’ble Apex Court rendered in the case of Citizen Co-operative Society as reported in TS- 326-SC-2017 dated 16.08.2017 and thereafter, in Para 7.1 of his order, ld. CIT(A) has given finding that considering these two judgements of Hon’ble Apex Court r…

The Karnataka State Agarbathi Manufacturers Co-Operative Society, Bangalore vs. Income Tax Officer Ward-7(2)(2), Bangalore

In the result, appeals of the assessee are allowed for statistical purpose

ITA 1233/BANG/2018[2013-14]Status: DisposedITAT Bangalore07 Dec 2018AY 2013-14

Bench: Shri. A. K. Garodia & Shri. Laliet Kumari.T.A Nos.1233 & 1234/Bang/2018 (Assessment Years : 2013-14 & 2014-15) The Karnataka State Agarbathi Manufacturers Co-Op Society, No.18/3, 1St Main Road, Sampangiramnagar, Bengaluru 560 027 .. Appellant Pan : Aadat0022B V. Income-Tax Officer, Ward – 7(2)(2), Bengaluru .. Respondent Assessee By : Shri. K. S. Nagesh, Ca Revenue By : Shri. R. N. Siddappaji, Addl. Cit Heard On : 27.11.2018 Pronounced On : 07.12.2018

For Appellant: Shri. K. S. Nagesh, CAFor Respondent: Shri. R. N. Siddappaji, Addl. CIT

Section 80PSection 80P(2)(a)

…efit of 80P of an amount of Rs.9,59,014/- for AY 2013-14 and Rs.8,85,695/- for AY 2014-15. For the purpose of arriving at this finding the AO relied upon the judgment of the Hon’ble Supreme Court in the matter of Totgar’s Co-operative Sales Society Ltd v ITO [322 ITR 283] and also of the Hon’ble jurisdictional High Court in 395 ITR 611. In both the judgments it was held by the Hon’ble Courts that the character / nature of income would not change irrespective of the fact that it is received or earned from the schedule bank or cooperative bank. The assessee filed appeals before the CIT (A). ITA.1233 & 1234/Bang/20…

Income Tax Officer Ward-7(2)(4), Bangalore vs. M/S Kammavari Credit Co-Operative Society Ltd, Bangalore

In the result, appeal by the revenue is treated as allowed for statistical purpose

ITA 1156/BANG/2017[2013-14]Status: DisposedITAT Bangalore07 Dec 2018AY 2013-14

Bench: Shri N.V Vasudevan & Shri Jason P Boazassessment Year : 2013-14

For Respondent: Shri G.S Nagharish, Advocate

Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH ‘A’ BEFORE SHRI N.V VASUDEVAN, VICE PRESIDENT AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER Assessment year : 2013-14 The Income-tax Officer, Vs. M/s Kammavari Credit Co- Ward-7(2)(4), operative Society Ltd., No 1, 22nd Main, Jayanagar, Bengaluru. PAN – AAAAK 2070 H. HSBC, Layout, Padmanabhanagar, PAN – AAAAK 2070 H. APPLICANT RESPONDENT Applicant by : Smt. Srinandini Das, Addl. CIT Respondent by : Shri G.S Nagharish, Advocate Date of hearing : 26.11.2018 Date of Pronouncement : 07.12.2018 O R D E R PER SHRI N.V VASUDEVAN, VICE PRESIDENT : This is an ap…

The Peeeoples Co. Op.Credit Society Ltd., Anand vs. ITO, Ward-1(3)(2), Petlad

In the result, appeal filed by the Assessee is dismissed

ITA 1708/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad30 Nov 2018AY 2012-13

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

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

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

…/227 Taxman 59/49 taxmann.com 571 (Guj.) has held that interest income earned from deposits from banks is not exempt U/s80P(2)(a)(i) of the Income tax Act and thereby followed the order of Hon,ble Apex Court in the case of Totgar Co-op Sale Soc Ltd Vs ITO (SO 322 ITR 283: 35DTR25. 6 From the above it can be seen that subsequent to the decision of Hon'ble Supreme court in the case of Totgar Co-op Sale Soc Ltd Vs ITO (SC) 322 ITR 283: 35DTR25, there were number of decisions on this issue by various High Courts and Tribunals in different cases by distinguishing the above judgment in favour of the assessee and Revenu…

The Khanpur Vibhag Madhyamik Shala Karmachari Dgiran & Grahak Sahakari Mandali Ltd, Mahisagar vs. Income Tax Officer, Lunawada

In the result, appeal filed by the Assessee is dismissed

ITA 1537/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad30 Nov 2018AY 2015-16

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

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

Section 80P(2)(a)Section 80P(2)(c)

Railwaymens Co. Op. Credit Society Limited, Vadodara vs. ITO, Ward-3(1)(3), Vadodara

In the result, appeal filed by the Assessee is dismissed

ITA 1491/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad30 Nov 2018AY 2015-16

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

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

Section 142(1)Section 234BSection 271Section 56Section 80PSection 80P(2)(a)

ACIT, Circle-33, Kolkata vs. Central Bank of India Employees Cooperative Society Limited, Kolkata

Appeal is allowed for statistical purposes in above terms

ITA 1868/KOL/2017[2014-15]Status: DisposedITAT Kolkata30 Nov 2018AY 2014-15

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godaraassessment Year:1014-15

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

…he whole of the amount of profits and gains of business attributable to any one or more of such activities :” 4. The AO was of the view that as per the decision rendered by the Hon’ble Supreme Court in the case of Totgar’s Co-operative Sale Society Ltd vs ITO 322 ITR 283 (SC) interest earned on deposits had to be regarded as income under the head ‘Income from other sources’ and therefore deduction u/s 80P(2)(a)(i) of the Act cannot be allowed to the assessee as only the whole of the amount of profits and gains of business attributable to carrying on the business of banking or providing credit facilities to its me…

Income-Tax Officer vs. Sureshdada Jain Nagri Sahakari Patsanstha, Jalgaon

In the result, the appeal is dismissed

ITA 589/PUN/2016[2012-13]Status: DisposedITAT Pune28 Nov 2018AY 2012-13

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

Section 80P

…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 4 Sureshdada Jain Nagri Sahakari Patsanstha taken in favour of the assessee by the Hon’ble Karnataka High Court in the case of Tumkur Merch…

Income Tax Officer Ward - 5 (2) (3), Bengaluru vs. M/S Bbr & Rd Kptcl Employees Credit Co-Operative Society Ltd., Bengaluru

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

ITA 2066/BANG/2018[2014-15]Status: DisposedITAT Bangalore16 Nov 2018AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumarassessment Year : 2014-15

For Appellant: Smt. Srinandini Das, Addl. CIT (DR)For Respondent: Shri Govind G.M., CA

Section 2(24)Section 80P

…no. 7 on page no. 9 of the assessment order and pointed out that the AO has followed the judgement of Hon’ble Apex Court rendered in the case of The Totgars Cooperative Sale Society Limited Vs. ITO in Appeal No. 1622 of 2010 dated 08.02.2010 later reported in 322 ITR 283. She submitted that in view of this, the order of CIT(A) should be reversed and that of AO should be restored. As against this, the ld. AR of assessee supported the order of CIT(A) and he also placed reliance on the judgement of Hon'ble Karnataka High Court rendered in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. vs. ITO as repor…

Rayat Seva Krushi Udyog Sahakari Sangh Ltd, Kolhapur vs. Income-Tax Officer, Ward - 1(3), Kolhapur

In the result, all the three appeals are allowed

ITA 2147/PUN/2017[2014-15]Status: DisposedITAT Pune14 Nov 2018AY 2014-15

Bench: Shri R.S. Syal

Section 234ASection 56Section 80PSection 80P(2)(a)

…ssion”. Negating such opinion, the AO treated interest Sahakari Sangh Ltd., income as arising under the head “Income from other sources”. Relying on the judgment of Hon’ble Supreme Court in the case of Totgar’s Cooperative Sale Society Ltd. Vs. ITO (2010) 322 ITR 283 (SC), the AO denied the benefit of deduction on such interest income. Facts and circumstances of the other two years in appeal are similar except with the difference in the amounts of interest earned by the assessee from the respective FDRs maintained with State Bank of India. The ld. CIT(A) echoed the assessment orders on this issue, against wh…

Rayat Seva Krushi Udyog Sahakari Sangh Ltd, Kolhapur vs. Income-Tax Officer, Ward - 1(3), Kolhapur

In the result, all the three appeals are allowed

ITA 2146/PUN/2017[2013-14]Status: DisposedITAT Pune14 Nov 2018AY 2013-14

Bench: Shri R.S. Syal

Section 234ASection 56Section 80PSection 80P(2)(a)