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

Thye Veer Co-Operative Group Housing Society Ltd, New Delhi vs. ITO, Ward-39(4), New Delhi

In the result, ITA.No.2787/Del

ITA 2787/DEL/2018[2013-14]Status: DisposedITAT Delhi04 Sept 2018AY 2013-14

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Ms. Mansi JainFor Respondent: Shri Vijay Kumar Jiwani, Sr. D.R

Section 80P(2)(c)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C+SMC’, NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA.Nos.2787 & 2788/Del/2018 Assessment Years 2013-2014 & 2014-2015 M/s. The Veer Cooperative The Income Tax Officer, Group Housing Society vs. Ward-39(4), Limited, Plot No.28, Sector-13, Rohini, New Delhi-110085. New Delhi. PAN AAAAT6615K Appellant Respondent Shri Rano Jain, Mr. Pranshy Singhal & Assessee by : Ms. Mansi Jain Advocates Revenue by : Shri Vijay Kumar Jiwani, Sr. D.R. Date of Hearing : 09.08.2018 Date of Pronouncement : 04 .09.2018 2…

Lady Ratan Tower Cooperative Housing Society Limited, Mumbai vs. Income Tax Officer 21(2)(2), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1152/MUM/2018[2013-14]Status: DisposedITAT Mumbai09 Aug 2018AY 2013-14

Bench: Shri G.S. Pannu & Shri Pawan Singhlady Ratan Tower Cooperative Ito-21(2)(2) Room No. 111, 1St Floor, Housing Society Ltd. Dainik Shivner Marg, Worli, Vs. Piramal Chamebers, Parel, Mumbai-400018. Mumbai-400012. Pan: Aaaal1740P Appellant Respondent Appellant By : Shri Mandar Vaidya (Ar) Respondent By : Shri S.K. Bepair (Sr. Dr) Date Of Hearing : 09.08.2018 Date Of Pronouncement : 09.08.2018 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh; 1. This Appeal By Assessee Is Directed Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-33, Mumbai [Ld. Cit(A)] Dated 29.12.2017 For Assessment Year 2013-14. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri Mandar Vaidya (AR)For Respondent: Shri S.K. Bepair (Sr. DR)

Section 254(1)Section 80PSection 80P(2)(d)Section 80P(4)

…error of law in holding that a cooperative bank is not a cooperative society, for the purpose of section 80P(2)(d). 4) The Ld. CIT(A) misdirected himself in drawing support from the decision of the Hon'ble Apex Court in the case of Totgars Cooperative Society 322 ITR 283 (SC), which is on completely different set of facts. 2. At the outset of hearing, the ld. Authorized Representative (AR) of the assessee submits that the ground of appeal raised by assessee is squarely ITA No. 1152 Mum 18-Lady Ratan Tower Cooperative Housing Society Ltd. covered in favour of assessee by various decision of Tribunal including…

M/S Nanda Nagar Sahkari Sakh Santha, Indore vs. The ITO 3(3), Indore

In the result, the appeal filed by the assessee is

ITA 1054/IND/2016[2006-07]Status: DisposedITAT Indore03 Aug 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07 M/S Nanda Nagar Ito-3(3) Sahkari Sakh Sanstha Range-3 बनाम/ C/O M. Mehta & Co., Indore Vs. 11/5, South Tukoganj, Indore (Appellant) (Revenue ) P.A. No.Aaaan1784B

Section 143(3)Section 6Section 80P(2)(a)

…ual words employed by the legislature in the name of giving effect to the supported underlying object. 8. Ld. DR has also relied upon the judgment of the Hon'ble Supreme Court rendered in the case of Totgars, Co- operative Sale Society Ltd. vs. ITO, Karnataka 322 ITR 283 (SC). Ld. DR submitted that the ratio of this judgment squarely applicable in the facts of the present case. 9. We have heard the rival contentions, perused the material available on record and gone through orders of the authorities below. The disputed facts are that the assessee is a Co-operative Society and its authorize objective are as reprod…

Grain Merchants Co-Op.Hsg. Ltd, Mumbai vs. Pr.CIT-28, Mumbai

In the result , the appeal of the assessee is partly allowed as indicated above

ITA 2187/MUM/2018[2013-14]Status: DisposedITAT Mumbai25 Jul 2018AY 2013-14

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2187/Mum/2018 (नििाारण वर्ा / Assessment Year: 2013-14) बिाम/ Grain Merchants Co- Pr. Cit-28 Operative Housing Society Mumbai Ltd, Plot No. 26/35, Sec-17, V. Vashi, Navi Mumbai-400705 स्थायी ऱेखा सं./ Pan : Aaaag3973H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri. M. SubramanianFor Respondent: Shri. Abhijit Patankar,CIT-DR

Section 143Section 143(3)Section 263Section 56Section 80PSection 80P(2)(c)Section 80P(2)(d)Section 80P(4)

…3(SC) . The learned CIT-DR also cited Provisions of Section 80P(4) of the 1961 Act and he submitted that no enquiries were made by AO. He relied upon the decision of Hon‟ble Supreme Court in the case of Totgar‟s Co-operative Sale Society Limited v. ITO (2010) 322 ITR 283(SC) and it was submitted by learned CIT- DR that interest is incidental to the main income of the assessee which has arisen due to parking of surplus funds with banks and principle of mutuality is not applicable . Secondly it is to be treated as income under the head „Income from other sources‟ within provisions of Section 56 of the 1961 Act and…

M/S Madhya Pradesh Vidhyut Mandal Karmachari Praspar Sahkari Sakh Sanstha Maryadit, Indore vs. The ACIT Circle 4(1), Indore

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

ITA 413/IND/2017[2013-14]Status: DisposedITAT Indore29 Jun 2018AY 2013-14

Bench: Shri Kul Bharat, Hon’Ble & Shri Manish Borad, Hon’Blea.Y. 2013-14 Madhya Pradesh Vidyut Mandal Karmachari Sahkari Sakh Sanstha Ltd. Indore ::: Appellant Vs Acit Circle 4(1) Indore ::: Respondent Appellant By Shri Vijay Bansal & Shri Rajesh Sodani Respondent By Shri Ram Prakash Mourya Date Of Hearing 26.6.2018 Date Of Pronouncement 29.6.2018

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

…preferred appeal before the learned Commissioner of Income Tax (Appeals) but failed to succeed, as the learned Commissioner of Income Tax (Appeals) followed the judgment of the Hon'ble Supreme Madhya Pradesh Vidyut Mandal ITA 413/Ind/2017 Limited vs. ITO; 322 ITR 283 (SC) and confirmed the additions. Now the assessee is in appeal before the Tribunal. 4. Before us, the learned counsel for the assessee submitted that the facts of the assessee’s case are different from the facts adjudicated by the Hon'ble Supreme Court in the case of Totgars Cooperative Sale Society Limited (supra) for the very reason that…

M/S Bara Coop Agricultural Service vs. Income Tax Officer

In the result both the above appeals of the assessee are allowed for statistical purposes (DIVA SINGH)

ITA 964/CHANDI/2017[2010-11]Status: DisposedITAT Chandigarh28 Jun 2018AY 2010-11

Bench: Ms. Diva Singh

For Appellant: Shri M.R. SharmaFor Respondent: Shri Manoj Kumar

Section 143Section 147

…ng a depot and providing ITA Nos. 964 & 1367/Chd/2017 (Assessment Year: 2010-11) 2 of3 credit facilities to its members. It was his submission that no doubt the judgement of the Apex Court in the case of Totgar’s Co-operative Sale Society Ltd Vs. ITO (2010) 322 ITR 283 (SC) would apply however the correct facts need to be taken into consideration. 3. The Ld. senior DR Mr. Manoj Kumar on going through the record submitted that he was unable to address how the computation of income has been carried out by the assessing officer. Accordingly he submitted that he would have no objection if the issue is remanded bac…

M/S Bara Coop Agricultural Service Society Ltd., Hamirpur vs. ITO, Hamirpur

In the result both the above appeals of the assessee are allowed for statistical purposes (DIVA SINGH)

ITA 1367/CHANDI/2017[2010-11]Status: DisposedITAT Chandigarh28 Jun 2018AY 2010-11

Bench: Ms. Diva Singh

For Appellant: Shri M.R. SharmaFor Respondent: Shri Manoj Kumar

Section 143Section 147

Indian Bank Employees Co-Operative Thrift & Credit Society, New Delhi vs. ITO, New Delhi

In the result, appeal is allowed for statistical purposes

ITA 5118/DEL/2016[2012-13]Status: DisposedITAT Delhi21 Jun 2018AY 2012-13

Bench: Shri R.S. Syalassessment Year: 2012-13

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Sh. B.R. Mishra, Sr. DR

Section 80P

…mporarily parked in banks for short period and were withdrawn as and when demands from loan came from its members. The learned CIT(A) relied on the judgment of the Hon'ble Supreme Court in the case of The Totgars Cooperative Sale Society Limited vs. ITO (2010)322 ITR 283 (SC) and that of the Hon'ble jurisdictional High Court in Mantola Co-operative Thrift and Credit Society Limited vs. CIT (2014) 110 DTR 89 (Del) to deny the 2 assessee’s claim by holding that the assessee deposited its surplus funds and hence deduction was not permissible. 4. I have heard the rival submissions and perused the relevant material o…

Sindhudurga Zilla Madhyamik Adhyapak Va Ucchya Madhyamik Shikshak Va Shikshaketar Karmachari Sahakari Patpedhi Maryadit, Sindhudurg vs. Income-Tax Officer

In the result, the appeal of the assessee is partly allowed in the terms aforesaid

ITA 154/PUN/2015[2011-12]Status: DisposedITAT Pune31 May 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Nikhil PathakFor Respondent: Shri Achal Sharma

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

…alternate deduction u/s. 80P(2)(d) of the Act. However, the Commissioner of Income Tax (Appeals) after placing reliance on the decision of Hon‟ble Supreme Court of India in the case of Totgars, Co-operative Sale Society Ltd. Vs. Income Tax Officer reported as 322 ITR 283 rejected both the contentions of the assessee. Now, the assessee is in second appeal before the Tribunal assailing the findings of First Appellate Authority in confirming the disallowance of deduction u/s. 80P(2)(d)/80P(2)(a)(i) of the Act. 3. Shri Nikhil Pathak appearing on behalf of the assessee submitted that the assessee is registed under Ma…

ITO 17(1)(3), Mumbai vs. The Bombay Sales Tax Staff Co Op Credit Society Ltd, Mumbai

Accordingly directed to allow the deduction claimed by the appellant. Grounds 1, 2 are allowed in favour of the appellant

ITA 7064/MUM/2013[2010-11]Status: DisposedITAT Mumbai31 May 2018AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm Ito 17(1)(3) The Bombay Sales Tax Staff 1St Floor, R. No. 114, Co-Op. Credit Society Ltd. बिधम/ Piramal Chambers, 18, Vikrikar Bhavan, Vs. Lalbaug, Parel, Balwant Singh Dhodi Marg, Mumbai-12 Mazgaon, Mumbai 400 010 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aaaat0006E (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

For Appellant: NoneFor Respondent: Shri M.C. Omi Ningshen, D.R

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

…out of surplus funds was rightly assessed under the head „Income from other sources‟. The A.O in support of his aforesaid observation relied on the judgment of the Hon‟ble Supreme Court in the case of the Totgars Co-operative Sales Society Ltd. Vs. ITO (2010) 322 ITR 283 (SC). It was observed by the A.O that the Hon‟ble Apex Court had held that where a co-operative society which was engaged in providing credit facilities to its members and marketing their agricultural produce, had earned interest income by investing its surplus funds in short term deposits in the government securities, the same would fall within…

Shri Bhagwant Sahakari Nagari Pat Ltd., Solapur vs. Income-Tax Officer, Ahmednagar

ITA 955/PUN/2017[2012-13]Status: DisposedITAT Pune25 May 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am आयकर अपील सं./ Ita No. 955/Pun/2017 िनधा!रण वष! / Assessment Year : 2012-13

For Appellant: Shri Pramod ShingteFor Respondent: Shri Pankaj Garg

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

…an appeal before CIT(A). The CIT(A) confirmed the addition of Rs.16,99,709/- and denied the claim of deduction u/s.80P(2)(a)(i) of the Act relying on the judgment of Hon’ble Supreme Court in the case of Totgars’ Cooperative Sale Society Ltd. Vs. ITO [2020] 322 ITR 283 and the 3 Shri Bhagwant Sahakari Nagari Patsanstha Maryadit judgment of Hon’ble Delhi High Court in the case of Mantola Co- operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278. CIT(A) also noted the decision of ITAT in the case of Jijamata Mahila Bigar Sheti Sahakari Patsanstha Ltd. Vs. ITO – ITA No.992/PN/2016, dated 29-07-2016…

State Bank of India Staff Co-Operative Credit Society Ltd, Solapur vs. Income-Tax Officer, Solapur

ITA 968/PUN/2017[2011-12]Status: DisposedITAT Pune25 May 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am

For Appellant: Shri S.N. PuranikFor Respondent: Shri Pankaj Garg

Section 143(3)Section 234BSection 80PSection 80P(2)(a)

…However, the CIT(A) confirmed the addition of Rs.16,99,709/- and denied the claim of deduction u/s.80P(2)(a)(i) of the Act to the assessee relying on the judgment of Hon’ble Supreme Court in the case of Totgars’ Cooperative Sale Society Ltd. Vs. ITO [2020] 322 ITR 283 and the judgment of Hon’ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd. Vs. CIT 50 taxmann.com 278. CIT(A) also noted the decision of ITAT in the case of Jijamata Mahila Bigar Sheti Sahakari Patsanstha Ltd. Vs. ITO – ITA No.992/PN/2016, dated 29-07-2016. Contents of Para No.6.3 of the order of CIT(A) are r…

Ideal Toll & Infrastructure P.Ltd, Mumbai vs. DCIT 6(1), Mumbai

In the result, the appeal of the assessee is treated as allowed

ITA 7758/MUM/2014[2010-11]Status: DisposedITAT Mumbai25 May 2018AY 2010-11

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

Section 14ASection 36(1)(iii)

…ions relied upon by Ld CIT(A) are:- (a) Swani Spice Mills P Ltd (322 ITR 288)(Bom) (b) Tuticorin Alkali Chemical & Fertilisers (227 ITR 172)(SC) (c) Pandian Chemicals (262 ITR 278)(SC) (d) Liberty India (317 ITR 218)(SC) (e) Totgars Co-operative Sale society (322 ITR 283)(SC) (f) Gopinathan (248 ITR 449)(SC) 27. We heard the parties on this issue and perused the record. We notice that the various decisions relied upon by the Ld CIT(A) relate to the interest income earned on investment of “surplus funds”. The decision rendered in the case of Pandian Chemicals (supra) and Liberty India (supra) relate to the issue…

M/S. Orissa State Co-Operative Handicrafts Corporation Limited, Bhubaneswar vs. DCIT, Circle-4(1), Bhubaneswar

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

ITA 378/CTK/2017[2013-14]Status: DisposedITAT Cuttack17 May 2018AY 2013-14

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm M/S Orissa State Cooperative Vs. Dcit, Circle-4(1), Handicrafts Corporation Limited, Bhubaneswar At-D-2/3, Industrial Estate, Rasulgarh, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aaaao 0096 K (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Ambika Prasad Mohanty, Ar िाजस्व की ओर से /Revenue By : Shri D.K.Pradhan, Dr सुनवाई की तािीख / Date Of Hearing : 14/05/2018 घोषणा की तािीख/Date Of Pronouncement 17/05/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Assessee Has Filed This Appeal Against The Order Of Cit(A)-2, Bhubaneswar, Dated 28.06.2017, Passed In I.T.Appeal No.0039/2016-17, U/S.143(3)/250 Of The I.T.Act For The Assessment Year 2013-2014. 2. At The Time Of Hearing, Ld. Ar Of The Assessee Has Not Pressed The Grounds No.2 & 3 Of The Grounds Of Appeal. Accordingly, We Dismiss The Ground Nos.2&3 As Not Pressed. 3. The Effective Grounds Of Appeal Are As Under :- 1. Ld Cit (Appeals) Is Wrong & Unlawful In Upholding The Decision Of Assessing Officer With Respect To Disallowance Of Interest Claimed By The Assessee U/S 80P(2) (D). Interest Income From Orissa State Co Operative Bank Ltd Being Another Co Operative Society To The Tune Of Rs. 30,37,898/-. 4. Thus Ld Cit (Appeals) Is Wrong In Holding That, The Whole Of Rs. 44,02,128/- Interest Income Is Income From Fixed Deposits & Is Neither Deductible U/S 80P(2)(D) Nor Eligible For Set Off Against Carried Forward Loss For Being Income From Other Sources.

For Appellant: Shri Ambika Prasad Mohanty, ARFor Respondent: Shri D.K.Pradhan, DR

Section 143(1)Section 143(2)Section 143(3)Section 56(2)Section 72(1)Section 80P(2)Section 80P(2)(d)

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI N.S.SAINI, AM & SHRI PAVAN KUMAR GADALE, JM M/s Orissa State Cooperative Vs. DCIT, Circle-4(1), Handicrafts Corporation Limited, Bhubaneswar At-D-2/3, Industrial Estate, Rasulgarh, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No. : AAAAO 0096 K (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee by : Shri Ambika Prasad Mohanty, AR िाजस्व की ओर से /Revenue by : Shri D.K.Pradhan, DR सुनवाई की तािीख / Date of Hearing : 14/05/2018 घोषणा की तािीख/Date of Pronouncement 17/05/2018 आदेश…

Income Tax Officer Ward-3(2), Thane vs. Eternity Co Op Housing Society Limited, Mumbai

In the result, the appeal of Revenue is dismissed

ITA 6159/MUM/2017[2013-14]Status: DisposedITAT Mumbai15 May 2018AY 2013-14

Bench: Sri Mahavir Singh

For Appellant: Anil Sathe, ARFor Respondent: PR Chauhan, DR

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

…Aayakr ApIlaIya AiQakrNa “SMC” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JUDICIAL MEMBER Aayakr ApIla saM./ ITA No. 6159/Mum/2017 (inaQa-arNa baYa- / Assessment Year 2013-14) Income Tax Officer, Ward- M/s Eternity Co-op Housing 3(2), Room No. 4, B-Wing, 6th Society Ltd. Telco Floor, Ashar IT Park, Wagle Compound, Next to Eternity Vs. Estate, Thane West-400 604 Mall, Dnyansadhanda College Road, Teen Hath naka, Thane (W)-400604 .. (p`%yaqaaI- / Respondent) (ApIlaaqaI- / Appellant) PAN NO. AAAAE2614B Revenue by : PR Chauhan, DR Assessee by : Anil S…

M/S Sri Nagendra Credit Co-Op Society Ltd, Bangalore vs. Income Tax Officer Ward-5(2)(5), Bangalore

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

ITA 1155/BANG/2018[2014-15]Status: DisposedITAT Bangalore04 May 2018AY 2014-15

Bench: Shri Arun Kumar Garodia

For Appellant: Shri Ravishankar, AdvocateFor Respondent: Shri Abi Rama Karthikeyan, IRS (DR)

Section 234BSection 80Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-B” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER ITA Nos. 1154 & 1155/Bang/2018 Assessment Years :2013-14 & 2014-15 M/s. Sri Nagendra Credit Co-op Society Ltd., No. 368/A, 6th Main, The Income Tax Officer, Nagendra Block, Vs. Ward - 5 [2] [5], BSK 3rd Stage, Bangalore. Bangalore – 560 050. PAN: AALAS8044C APPELLANT RESPONDENT Appellant by : Shri Ravishankar, Advocate Respondent by : Shri Abi Rama Karthikeyan, IRS (DR) Date of hearing : 01.05.2018 Date of Pronouncement : 04.05.2018 O R D E R Per Shri A.K. Garodia, Accountant Member These two app…

M/S Sri Nagendra Credit Co-Op Society Ltd, Bangalore vs. Income Tax Officer Ward-5(2)(5), Bangalore

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

ITA 1154/BANG/2018[2013-14]Status: DisposedITAT Bangalore04 May 2018AY 2013-14

Bench: Shri Arun Kumar Garodia

For Appellant: Shri Ravishankar, AdvocateFor Respondent: Shri Abi Rama Karthikeyan, IRS (DR)

Section 234BSection 80Section 80P

The Tiara Co-Operative Agricultural Service Society Limited, Kangra vs. ITO, Dharamashala

In the result, all the appeals of the assessee are partly

ITA 905/CHANDI/2017[2009-10]Status: DisposedITAT Chandigarh01 May 2018AY 2009-10

Bench: Ms.Diva Singh & Ms.Annapurna Gupta

For Appellant: Shri Gagan Singh Guleria, AdvFor Respondent: Smt.Chanderkanta, Addl.CIT

Section 80P(2)(a)

…on FDRs with bank 2009-10 Rs.7,42,295/- 2010-11 Rs.20,17,349/- 2011-12 Rs.18,25,124/- 2012-13 Rs.27,28,485/- 5. The same was denied by the Assessing Officer following the ratio laid down by the Hon'ble Apex Court in Totgars Cooperative Sale Society (2010) 322 ITR 283 (SC) that the interest income earned from investment of surplus funds in Banks and government securities could not be attributable to the activity carried out by the society and hence was not entitled for deduction u/s 80P(2)(a)(i) of the Act. 6. The Ld.CIT(Appeals) upheld the order of the Assessing Officer. Before the Ld.CIT(Appeals) the asse…

Kaliandas Udyog Bhavan Premises Co-Operative Society Limited, Mumbai vs. Income Tax Officer 21(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 6547/MUM/2017[2014-15]Status: DisposedITAT Mumbai25 Apr 2018AY 2014-15

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm Kaliandas Udyog Bhavan Premises Ito-21(2)(1), R.No. 107, Co-Op Society Ltd., Vs. Piramal Chambers, Parel, Near Century Bazar, Prabhadevi, Mumbai – 400 012. Mumbai – 400 025 Pan No. Aaaak 4678 B (Appellant) (Respondent) Assessee By : Shri Deepak P. Rikekar & Shri Ajit Gupte, Cas. Department By : Ms. N. Hemalatha – Sr. Dr Date Of Hearing : 31/01/2018. Date Of Pronouncement : 25/04/2018. O R D E R

For Appellant: Shri Deepak P. Rikekar &For Respondent: Ms. N. Hemalatha – Sr. DR

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

…would form part of its general reserve fund. The Assessing Officer taking support of the judgment of the Hon'ble Supreme Court in the case of M/s. Bangalore Club vs. CIT (2013) 5 SCC 509 and in the case of Totgars Co-operative Sale Society Ltd. vs. ITO (2010) 322 ITR 283 (SC) concluded that as the income of Rs. 27,72,529/- earned by the credit society was not earned from the activity of providing banking facilities to its members and was outside the purview of “Principle of Mutuality”, therefore, the interest income of Rs. 27,72,529/- was not entitled for claim of deduction under section 80P(2)(d). Kaliandas Udy…

Mtnl Mumbai Employees Co Operative Credit Society Ltd, Mumbai vs. ITO 21(2)(2), Mumbai

The appeal of the assessee is allowed

ITA 7352/MUM/2016[2013-14]Status: DisposedITAT Mumbai17 Apr 2018AY 2013-14

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2013-14 Mtnl Mumbai Employees Income Tax Officer-21(2)(2), Cooperative Credit Society Piramal Chambers, बनाम/ Limited, Lalbaug, Parel, Vs. Shivaji Park Telephone Mumbai-400012 Exchange Compound, Anant Patil Marg, Dadar, Mumbai-400028 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaaam1777H "नधा"रती क" ओर से / Assessee By Shri Deepak Tikekar & Shri R.B. Prabhavalkar Shri Saurabh Kumar Rai-Dr राज"व क" ओर से / Revenue By 17/04/2018 सुनवाई क" तार"ख /Date Of Hearing : 17/04/2018 आदेश क" तार"ख /Date Of Order:

Section 143(3)Section 2(10)Section 5Section 80PSection 80P(2)(d)

…ct of interest received/derived by it on deposit with 8 MTNL Mumbai Employees Cooperative Credit Society. cooperative bank. It is further noted that in the aforesaid decision, the Bench duly considered the decision in Totagar Co- operative Sale Society Ltd. 322 ITR 283 (Supreme Court), Mittal Court Premises Cooperative Society Ltd. vs Income Tax Officer 320 ITR 414 and CIT vs Kangra Cooperative Bank Ltd. 309 ITR 106. Identical ratio was laid down by the Mumbai Bench in Sea Grean Co-operative Hsg. Society vs Income Tax Officer (ITA No.1343/Mum/2017) order dated 31/03/2017. Following the aforesaid decisions…