Totgars Co-operative Sale Society Ltd. v. ITO

322 ITR 283Supreme Court of India2010#33 most cited

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

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

1,283

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

Also referred to as

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

Also reported as

188 Taxmann.com 282

Sections most often in play

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

Issues it is cited on

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

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

Agriculture Colleage Farm Co-Operative Credit Society Ltd, Pune vs. ITO Ward-2(1), Pune

ITA 1696/PUN/2025[2020-21]Status: DisposedITAT Pune26 Nov 2025AY 2020-21

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1696 & 1698/Pun/2025 िनधा"रण वष" / Assessment Years : 2020-21 & 2017-18 Agriculture College Farm Co- Vs. Ito, Ward-2(1), Pune. Operative Credit Society Ltd., Agricultural College Pune, Shivajinagar, Pune- 411005. Pan : Aadaa3783A Appellant Respondent Assessee By : Shri C. V. Deshpande Revenue By : Smt. N. C. Shilpa Date Of Hearing 19.11.2025 : Date Of Pronouncement 26.11.2025 : आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Assessee Are Directed Against The Separate Orders Dated 22.05.2025 & 06.06.2025 Passed By Ld. Cit(A)/Nfac For The Assessment Years 2017-18 & 2020-21 Respectively. 2. Since Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, Therefore, We Proceed To Dispose Of The Same By This Common Order.

For Appellant: Shri C. V. DeshpandeFor Respondent: Smt. N. C. Shilpa
Section 142(1)Section 143(3)Section 263Section 80P(2)(d)

…d, since according to the assessee the facts of above case were identical to the facts of the case of the assessee. However, the Assessing Officer by relying on Hon’ble Supreme Court’s decision in the case of Totgars Cooperative Sales Society Limited vs. ITO, 322 ITR 283 (SC) disallowed the deduction of Rs.10,65,462/- claimed by the assessee u/s 80P(2)(d) of the IT Act and vide order dated 29.03.2023 passed the assessment order u/s 143(3) r.w.s. 263 of the Act by determining taxable income at Rs.10,65,460/- as against Rs.Nil income returned by the assessee. 5. Being aggrieved with the above assessment order, an a…

Puthiyakavu Service Cooperative Bank Ltd, Kollam vs. ITO, Ward-2, Alappuzha

In the result, all three appeals of the assessee are allowed

ITA 790/COCH/2025[2022-23]Status: DisposedITAT Cochin25 Nov 2025AY 2022-23

Bench: Shri Inturi Rama Rao, Am & Shri Manu Kumar Giri, Jm

For Appellant: Shri Rajakanan, AdvFor Respondent: Smt. Leena Lal, Snr AR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…an appeal was filed before the CIT(A), who vide the impugned order affirmed the disallowance of the deduction u/s. 80P(2)(a)(i) of the Act following the decision of the Hon’ble Supreme Court of India in the case of Totgars Co-operative Sale Society Ltd (2010) 322 ITR 283. 4. Being aggrieved by the order of the CIT(A), assessee is in appeal before us in the present appeal. 5. It is contended by the learned AR for the assessee that interest income earned from co-operative society qualifies for deduction in view of the decision of the Hon'ble Jurisdictional High Court in the case Pr. CIT vs. Peroorkada Service Co-o…

Puthiyakavu Service Cooperative Bank Ltd, Kollam vs. ITO, Ward-2, Alappuzha

In the result, all three appeals of the assessee are allowed

ITA 789/COCH/2025[2020-21]Status: DisposedITAT Cochin25 Nov 2025AY 2020-21

Bench: Shri Inturi Rama Rao, Am & Shri Manu Kumar Giri, Jm

For Appellant: Shri Rajakanan, AdvFor Respondent: Smt. Leena Lal, Snr AR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…an appeal was filed before the CIT(A), who vide the impugned order affirmed the disallowance of the deduction u/s. 80P(2)(a)(i) of the Act following the decision of the Hon’ble Supreme Court of India in the case of Totgars Co-operative Sale Society Ltd (2010) 322 ITR 283. 4. Being aggrieved by the order of the CIT(A), assessee is in appeal before us in the present appeal. 5. It is contended by the learned AR for the assessee that interest income earned from co-operative society qualifies for deduction in view of the decision of the Hon'ble Jurisdictional High Court in the case Pr. CIT vs. Peroorkada Service Co-o…

Puthiyakavu Service Cooperative Bank Ltd, Kollam vs. ITO, Ward-2, Alappuzha

In the result, all three appeals of the assessee are allowed

ITA 788/COCH/2025[2018-19]Status: DisposedITAT Cochin25 Nov 2025AY 2018-19

Bench: Shri Inturi Rama Rao, Am & Shri Manu Kumar Giri, Jm

For Appellant: Shri Rajakanan, AdvFor Respondent: Smt. Leena Lal, Snr AR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…an appeal was filed before the CIT(A), who vide the impugned order affirmed the disallowance of the deduction u/s. 80P(2)(a)(i) of the Act following the decision of the Hon’ble Supreme Court of India in the case of Totgars Co-operative Sale Society Ltd (2010) 322 ITR 283. 4. Being aggrieved by the order of the CIT(A), assessee is in appeal before us in the present appeal. 5. It is contended by the learned AR for the assessee that interest income earned from co-operative society qualifies for deduction in view of the decision of the Hon'ble Jurisdictional High Court in the case Pr. CIT vs. Peroorkada Service Co-o…

Gonda Cooperative Cane Development Union Ltd, Gonda vs. Income Tax Officer, Gonda

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

ITA 636/LKW/2025[2022-23]Status: DisposedITAT Lucknow25 Nov 2025AY 2022-23

Bench: The Ld. Cit(A) Who Has Dismissed The Appeal Of The Assessee. Being Further Aggrieved, The Assessee Is In Appeal Before The Income Tax Appellate Tribunal (Itat).

For Appellant: NoneFor Respondent: Shri R. K. Agarwal, CIT (DR)
Section 143(3)Section 144BSection 56Section 80P

…ve (“DR”, for short) for Revenue was heard. He relied on the orders passed by the Assessing Officer and the Ld. CIT(A). He contended that in view of the judgment of the Hon’ble Supreme Court in the case of Totgar's Co- operative Sale Society Ltd vs ITO (2010) 322 ITR 283 (SC). (C) The Ld. Sr. DR for Revenue has been heard and materials on record have been perused. Although several grounds have been taken in this appeal, they all relate to assessee’s claim for deduction u/s 80P of the Act. On perusal of the aforesaid impugned appellate order dated 21.04.2025 of the Ld. CIT(A), it is found that the assessee has re…

Ahmednagar Zilla Gramsevakanchi Sahakar Patsanstha Maryadit, Ahilyanagar vs. PCIT, Pune-1, Pune

In the result, the appeal of the assessee is allowed

ITA 1301/PUN/2025[2020-21]Status: DisposedITAT Pune25 Nov 2025AY 2020-21

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita No.1301/Pun/2025 निर्धारण वर्ष / Assessment Year : 2020-21 Ahmednagar Zilla Gramsevakanchi Sahakari Patsanstha Maryadit, 1, Opp. Sardar Patel Karyala, Behind Vs. Ketkar Hospital, Ahilyanagar-414001 The Pr. Cit, Pune-1 Pan : Aaaaa6582G अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Shri Prasad S Bhandari Shri Amol Khairnar 11-09-2025 25-11-2025 आदेश / Order Per Astha Chandra, Jm : The Appeal Filed By The Assessee Is Directed Against The Order Dated 22.03.2025 Of The Ld. Principal Commissioner Of Income Tax, Pune-1 (“Pcit)” Passed U/S 263 Of The Income Tax Act, 1961 (The “Act”) Pertaining To Assessment Year (“Ay”) 2020-21. 2. The Assessee Has Raised The Following Grounds Of Appeal : “1. On The Facts & In The Prevailing Circumstances Of The Case, Respected Pcit Pune -1 Erred Passing The Impugned Revision Order Under Section 263 Without Appreciating The Fact That Interest On The Deposits Made By A Co-Operative Society With The Co-For Operative Bank Is Eligible Deduction Under Section 80P Of The Act. Hence, The Impugned Order Under Section 263 May Please Be Squashed. 2. On The Facts & In The Prevailing Circumstances Of The Case, Respected Pcit Pune 1 Erred Passing The Impugned Revision Order Under Section 263 Without Appreciating The Submission Made By The Assessee Society & The Judgments Of Hon'Ble Jurisdictional Pune

For Appellant: Department byFor Respondent: Date of hearing
Section 143(2)Section 143(3)Section 263Section 56Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…terest income earned by a cooperative society will be eligible for deduction only from its investments with another cooperative society. Taking note of the judgment of Hon'ble Supreme Court in the case of Totgars Co-operative Sales Society Ltd. vs. ITO (2010) 322 ITR 283 (SC) and various other judgments quoted in the revision order, the Ld. PCIT opined that income earned by the assessee from investments in co-operative banks would come in the category of 'Income from other sources' taxable u/s 56 and would not qualify for deduction as business income u/s 80P(2)(a)/(d) of the Act. The Ld. PCIT concluded that the L…

The Ezhumzttoor Service Co-Operative Bank Ltd, Pathanmthitta vs. ITO, Ward-2, Thiruvalla

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

ITA 778/COCH/2025[2020-21]Status: DisposedITAT Cochin21 Nov 2025AY 2020-21

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2020-21 Ezhumattoor Service Co-Op. Bank Ltd. .......... Appellant 7-392, Ezhumattoor P.O., Malappally Pathanamthitta 689586 [Pan: Aafat6575K] Vs. The Income Tax Officer, Ward-2, Thiruvalla .......... Respondent Assessee By: Smt. Pooja V.M., Advocate Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 06.11.2025 Date Of Pronouncement: 21.11.2025 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 27.03.2025 For Assessment Year (Ay) 2020-21. 2. Brief Facts Of The Case Are That The Appellant Is A Co-Operative Society Registered Under The Kerala State Co-Operative Societies Act, 1969. It Is Engaged In The Business Of Accepting Deposits From Members & Providing Credit Facilities To Members. The Return Of Income For Ay 2020-21 Was Filed On 30.12.2020 Declaring Total Income Of Rs. 25,120/- After Claiming Deduction U/S. 80P(2)(A)(I) Of The Income Tax Act, 1961 (The Act). Against The Said Return Of 2 Ezhumattoor Service Co-Op. Bank Ltd. Income, The Assessment Was Completed By The Assessment Unit Of Income Tax Department (Hereinafter Called "The Ao") Vide Order Dated 27.09.2022 Passed U/S. 143(3) R.W.S. 144B Of The Act At Total Income Of Rs. 57,08,630/-. While Doing So, The Ao Denied Deduction U/S. 80P In Respect Of Interest Income Of Rs. 56,83,510/- Placing Reliance On The Decision Of The Hon'Ble Apex Court In The Case Totgar’S Co-Operative Sale Society Ltd. V. Ito [2010] 322 Itr 283 (Sc).

For Appellant: Smt. Pooja V.M., AdvocateFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…at total income of Rs. 57,08,630/-. While doing so, the AO denied deduction u/s. 80P in respect of interest income of Rs. 56,83,510/- placing reliance on the decision of the Hon'ble Apex Court in the case Totgar’s Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283 (SC). 3. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order partly allowed the appeal by directing the AO to allow deduction u/s. 80P(2)(d) of the Act in respect of interest income received from co-operative banks. However, confirmed the disallowance of claim for deduction in respect of interest income received f…

Shri Chatrapati Shivaji Vividoddeshagala Sahakari Sangha Niyamita Haliyal, Haliyal vs. Pr. Commissioner of Income Tax, Hubbali

ITA 1186/BANG/2025[2020-21]Status: DisposedITAT Bangalore21 Nov 2025AY 2020-21

Bench: Shri.Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2020-21 M/S. Shri Chatrapati Shivaji Vividoddeshagala Vs. Pcit, Sahakari Sangha Niyamita, Hubli. Near Mlc Office, Bus Stand Road, Haliyal – 581 329, Karnataka. Pan : Aajas 9684 G Appellant Respondent Assessee By : Shri. Vinay K Kulkarni, Ca Revenue By : Shri. Subramanian S, Jcit(Dr)(Itat), Bangalore. Date Of Hearing : 30.10.2025 Date Of Pronouncement : 21.11.2025

For Appellant: Shri. Vinay K Kulkarni, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 139(1)Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…total income. Therefore the interest on investment of Rs.10,73,933/- is not eligible for deduction under section 80P(2)(a)(i) of the Act in the light of judgment of the Hon’ble Apex Court in the case Totgars Co-operative Sale Society Ltd., Vs. ITO reported in 322 ITR 283 (SC) that utilization of surplus funds / investments taxable are taxable under the head “income from other sources” and not under section 80P of the Act. Accordingly, show cause notice was issued to the assessee and in this regard assessee submitted reply on 26.11.2024 relying on the judgments and submitted that the judgments relied on by the lea…

Saini Co-Operative Tharift and Credit Society Ltd, Delhi vs. ITO Ward-48(1), Delhi

In the result, the appeal is allowed

ITA 4261/DEL/2025[2016-17]Status: DisposedITAT Delhi21 Nov 2025AY 2016-17

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

For Appellant: Sh. V. Rajakumar, AdvFor Respondent: Sh. Jitender Singh, CIT-DR
Section 80Section 80PSection 80P(2)(a)

…Rs.1,03,68,974/-; representing it’s interest received from fixed deposit in cooperative society/cooperative/nationalized banks; as the case may be, as not “derived” from the eligible business in light of Totgar’s Co-operative Sale Society Ltd. Vs. ITO (2010) 322 ITR 283 (SC). 4. Learned departmental representative vehemently supports the impugned disallowance in very terms. 5. We note in this factual backdrop that the tribunal’s recent decision in ITO Vs. Shri Bhairavnath Multistate Saini Co-operative Thrift & Credit Society Ltd. Cooperative Credit Society Ltd. (2024) 164 taxmann.com 382 (Pune Trib.) has alread…

Saini Co-Operative Tharift and Credit Society Ltd, Delhi vs. ITO Ward-48(1), Delhi

In the result, the appeal is allowed

ITA 4260/DEL/2025[2016-17]Status: DisposedITAT Delhi21 Nov 2025AY 2016-17

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

For Appellant: Sh. V. Rajakumar, AdvFor Respondent: Sh. Jitender Singh, CIT-DR
Section 80Section 80PSection 80P(2)(a)

…Rs.1,03,68,974/-; representing it’s interest received from fixed deposit in cooperative society/cooperative/nationalized banks; as the case may be, as not “derived” from the eligible business in light of Totgar’s Co-operative Sale Society Ltd. Vs. ITO (2010) 322 ITR 283 (SC). 4. Learned departmental representative vehemently supports the impugned disallowance in very terms. 5. We note in this factual backdrop that the tribunal’s recent decision in ITO Vs. Shri Bhairavnath Multistate Saini Co-operative Thrift & Credit Society Ltd. Cooperative Credit Society Ltd. (2024) 164 taxmann.com 382 (Pune Trib.) has alread…

Gmedapadu Pacs, Gmedapadu vs. ITO, Ward-1, Kakinada

ITA 574/VIZ/2025[2020-21]Status: DisposedITAT Visakhapatnam19 Nov 2025AY 2020-21

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.574/Viz/2025 ("नधा"रण वष"/Assessment Year: 2020-21) G Medapadu Pacs, Vs. Income Tax Officer, East Godavari District, Ward-1, Andhra Pradesh. Kakinada. Pan: Aaaag8455A (Appellant) (Respondent) "नधा"रती "वारा/Assessee By: Sri Kss Sarma, Ca राज" व "वारा/Revenue By: Dr. Aparna Villuri, Sr. Ar सुनवाई क" तार"ख/Date Of 16/10/2025 Hearing: घोषणा क" तार"ख/Date Of 14/11/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M:

For Appellant: Sri KSS Sarma, CAFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…or business transactions carried out with members. Instead, it is attributable to the surplus funds invested with an external financial institution, namely the DCCB. The Hon’ble Supreme Court in the case of Totgars Co-operative Sale Society Ltd. v. ITO (2010) 322 ITR 283 (SC) has laid down that such interest income from investment of surplus funds is not income from banking or credit activity, but rather income assessable under the head "Income from Other Sources." The facts in the appellant’s case are materially similar to those examined in Totgars, and thus, the ratio laid down by the Supreme Court applies squa…

The Sangli Salary Earners Co Op Society Ltd, Sangli vs. Income Tax Officer Ward 3 Sangli, Sangli

In the result, appeal of the assessee is allowed

ITA 2254/PUN/2025[2020-21]Status: DisposedITAT Pune17 Nov 2025AY 2020-21

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.2254/Pun/2025 निर्धारण वषा / Assessment Year: 2020-21 The Sangli Salary Earners Co V The Income Tax Officer, Op Society Ltd., S. Ward-3, Sangli. 1104 B, Harbhat Road, Main City, Sangli – 416416 Pan: Aaaat0980D Appellant/ Assessee Respondent / Revenue Assessee By Shri Amit Sudhir Shintre(Virtual) Revenue By Smt. Saumya Pandey Jain-Addl.Cit Date Of Hearing 17/11/2025 Date Of Pronouncement 17/11/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Is Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2020-21, Dated 27.08.2025 Emanating From Assessment Order U/S.143(3) Read With Section 143(3) R.W.S 144B Of The Income Tax Act, 1961 Dated 26.09.2022. The Assessee Has Raised Following Grounds Of Appeal : “1. Deduction U/S 80P(2)(A)(I) Relying On The Decision Of Totgars Co-

Section 143(3)Section 250Section 57Section 80PSection 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)Section 80P(4)

…section 143(3) r.w.s 144B of the Income Tax Act, 1961 dated 26.09.2022. The assessee has raised following grounds of appeal : “1. Deduction u/s 80P(2)(a)(i) Relying on the decision of Totgars Co- ITA No.2254/PUN/2025 [A] operative Sale Society Ltd. v. ITO (322 ITR 283) (SC) The Ld. AO/CIT(A) erred in treating statutory deposits, business related deposits with banks as investments of surplus/non-operational funds, whereas they are integral to the business of providing credit facilities. Reliance on Totgars Co-operative Sale Society Ltd. v. ITO (322 ITR 283) (SC) is misplaced, as the Supreme Court itself confin…

Kashipur Brihandayatan Credit Cooperative Society Ltd., Purulia vs. ITO, Ward- 3(2), Purulia

In the result, appeal of the Revenue is dismissed

ITA 249/KOL/2025[2017-18]Status: DisposedITAT Kolkata17 Nov 2025AY 2017-18

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) I.T.A. No. 249/Kol/2025 Assessment Year: 2017-2018 Kashipur Brihadayatan Credit Cooperative Society Limited,………………………………………Appellant Vill. & P.O. Kalapathar, District-Purulia-723121, West Bengal [Pan:Aaaak9453E] -Vs.- Income Tax Officer,…………………………..…..Respondent Ward-3(2), Purulia, South Lake Road, Purulia-723101, W.B. Appearances By: Shri M. Goenka, C.A. & Shri S. Goenka, C.A., Appeared On Behalf Of The Assessee Shri Susanta Saha, Sr. D.R., Addl. Cit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: September 03, 2025 Date Of Pronouncing The Order: November 17, 2025 O R D E R

Section 142(1)Section 143(2)Section 3Section 80PSection 80P(2)(a)

…members as provided in the Act. The assessee is not having any intention to gain any benefit from other sources. 5. The ld. A.R. further submitted that the facts on the ratio laid down in the case of M/s. Totgars Cooperative Sale Society Limited reported in 322 ITR 283 relied on by the Revenue Authorities are entirely different from that of the facts of the instant case in hand. He further submitted that as per Para 11 of the judgment, it is clearly mentioned that “this judgment is confined to the facts of the present case” and, therefore, it cannot be applied in the assessee’s case. Therefore, the assessee is…

Maratha Seva Sangh Sanchlit Dhule Dist Nagari Sahakari Patsanstha Ltd, Dhule vs. Assessment Unit, Itd, Delhi

In the result, appeal of the assessee is allowed

ITA 2183/PUN/2025[2015-16]Status: DisposedITAT Pune14 Nov 2025AY 2015-16

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपऩल सं. / Ita No.2183/Pun/2025 निर्धारण वषा / Assessment Year: 2015-16 Maratha Seva Sangh Sanchlit V Assessment Unit, Dhule Dist Nagari Sahakari S Itd. Patsanstha Ltd., Plot No.148, Chudamani, Jay Hind Colony, Deopur Dhule, Dhule – 424002. Pan: Aactm4087D Appellant/ Assessee Respondent / Revenue Assessee By Shri Sharad A Shah Revenue By Shri Pawan Bharti (Virtual Hearing) Date Of Hearing 13/11/2025 Date Of Pronouncement 14/11/2025 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.2015-16 Dated 23.07.2025 Emanating From The Assessment Order Passed Under Section 147 R.W.S 144B Of The Act, Dated 21.02.2024. The Assessee Has Raised The Following Grounds Of Appeal :

Section 142(1)Section 147Section 148Section 148ASection 149(1)(b)Section 151Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

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

Pandit Dindayal Upahyey Nagari Sahakari Patpedhi Ltd, Shahada vs. ITO, Ward 1, Dhule

In the result, appeal of the assessee is allowed

ITA 1409/PUN/2025[2017-18]Status: DisposedITAT Pune14 Nov 2025AY 2017-18

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपऩल सं. / Ita No.1409/Pun/2025 निर्धारण वषा / Assessment Year: 2017-18 Pandit Dindayal Upahyey V The Income Tax Officer, Nagari Sahakari Patpedhi Ltd., S Ward -1, Dhule. Near Bohari Market Dondaicha Road, Shahade – 425409. Maharashtra. Pan: Aaald0407C Appellant/ Assessee Respondent / Revenue Assessee By None Revenue By Shri Pawan Bharti –Dr(Virtual Hearing) Date Of Hearing 12/11/2025 Date Of Pronouncement 14/11/2025 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 24.02.2025 Emanating From The Assessment Order Passed Under Section 143(3) Of The Act, Dated 25.11.2019. The Assessee Has Raised The Following Grounds Of Appeal :

Section 143(3)Section 250Section 56Section 80PSection 80P(2)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. …………………… 34. The case before the Supreme Court in Totgar's Co-operative Sale Society Ltd.'s case (supra) was in respect of a co-operative credit society, which was also marketing the agricultural produce of its members. As seen from the facts disclosed in the decision of the Karnataka High Court in Totgars, from out of which the decision of the…

The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd, Satara vs. ACIT, Satara

In the result, appeal of the Assessee is allowed

ITA 2153/PUN/2025[2018-19]Status: DisposedITAT Pune13 Nov 2025AY 2018-19

Bench: SHRI VINAY BHAMORE (Judicial Member)

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

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

Income Tax Officer Ward 2(2) Pune, Pune vs. The Ammunition Factory Co Op Credit Society Limited, Pune

In the result, the appeal of the Revenue in ITA

ITA 1100/PUN/2025[2020-21]Status: DisposedITAT Pune12 Nov 2025AY 2020-21

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1099 & 1100/Pun/2025 िनधा"रण वष" / Assessment Years : 2018-19 & 2020-21 Ito, Ward-2(2), Pune. Vs. The Ammunition Factory Co-Op. Credit Society Limited, Nehru Marg, Khadki, Pune- 411003. Pan : Aaajt0095N Appellant Respondent Revenue By : Shri Amit Bobde & Shir Shashank Ojha Assessee By : Shri Rohit C. Kasat Date Of Hearing : 20.08.2025 Date Of Pronouncement : 12.11.2025 आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Revenue Are Directed Against The Separate Orders Dated 12.02.2025 & 28.02.2025 Passed By Ld. Cit(A)/Nfac For The Assessment Years 2018-19 & 2020-21 Respectively. 2. Since Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Revenue, Therefore, We Proceed To Dispose Of The Same By This Common Order.

For Appellant: Shri Rohit C. KasatFor Respondent: Shri Amit Bobde &
Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…the Ld. CIT(A)/NFAC by relying on various decisions passed by coordinate benches of this Tribunal. On the other hand, the Revenue by relying on the judgement passed by Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO, (2010) 322 ITR 283 (SC) and also by Hon’ble Karnataka High Court in the case of PCIT vs. Totgars Cooperative Sale Society (2017) 395 ITR 611 is challenging the order passed by Ld. CIT(A) wherein deduction u/s 80P(2)(d) is allowed to the assessee. 8. We have heard Ld. counsels from both the sides and perused the material available on record including the case law fu…

Income Tax Officer Ward 2(2) Pune, Pune vs. The Ammunition Factory Co Op Credit Society Limited, Pune

In the result, the appeal of the Revenue in ITA

ITA 1099/PUN/2025[2018-19]Status: DisposedITAT Pune12 Nov 2025AY 2018-19

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1099 & 1100/Pun/2025 िनधा"रण वष" / Assessment Years : 2018-19 & 2020-21 Ito, Ward-2(2), Pune. Vs. The Ammunition Factory Co-Op. Credit Society Limited, Nehru Marg, Khadki, Pune- 411003. Pan : Aaajt0095N Appellant Respondent Revenue By : Shri Amit Bobde & Shir Shashank Ojha Assessee By : Shri Rohit C. Kasat Date Of Hearing : 20.08.2025 Date Of Pronouncement : 12.11.2025 आदेश / Order Per Vinay Bhamore, Jm: Both The Above Captioned Appeals Filed By The Revenue Are Directed Against The Separate Orders Dated 12.02.2025 & 28.02.2025 Passed By Ld. Cit(A)/Nfac For The Assessment Years 2018-19 & 2020-21 Respectively. 2. Since Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Revenue, Therefore, We Proceed To Dispose Of The Same By This Common Order.

For Appellant: Shri Rohit C. KasatFor Respondent: Shri Amit Bobde &
Section 143(1)(a)Section 143(2)Section 143(3)Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…the Ld. CIT(A)/NFAC by relying on various decisions passed by coordinate benches of this Tribunal. On the other hand, the Revenue by relying on the judgement passed by Hon’ble Supreme Court in the case of Totgars Cooperative Sale Society Ltd. vs. ITO, (2010) 322 ITR 283 (SC) and also by Hon’ble Karnataka High Court in the case of PCIT vs. Totgars Cooperative Sale Society (2017) 395 ITR 611 is challenging the order passed by Ld. CIT(A) wherein deduction u/s 80P(2)(d) is allowed to the assessee. 8. We have heard Ld. counsels from both the sides and perused the material available on record including the case law fu…

Avinissery Service Cooperative Bank Ltd No R 689, Thrissur vs. ITO Ward 1(1), Thrissur

In the result, the appeal filed by the assessee on this issue stands allowed

ITA 741/COCH/2025[2018-19]Status: DisposedITAT Cochin07 Nov 2025AY 2018-19

Bench: Shri Inturi Rama Rao, Am & Shri Manu Kumar Giri, Jm Assessment Year: 2018-19 Avinissery Service Co-Op. Bank Ltd. .......... Appellant Anakallu, Avinessery P.O., Thrissur 680306 [Pan: Aacaa0093Q] Vs. The Income Tax Officer. Ward-1, Thrissur ......... Respondent Assessee By: Shri Alan Priyadarshini Dev, Advocate Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 04.11.2025 Date Of Pronouncement: 07.11.2025 O R D E R Per Manu Kumar Giri, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [“Cit(A)” In Short] Dated 25.08.2025 For Assessment Year (Ay) 2022-23. 2. The Registry Has Noted Delay Of 318 Days In Filing The Appeal. Considering The Period Of Delay & Reasons Stated At Para 1 & 2 Of The Condonation Petition, Which Is Supported By An Affidavit, We Condone The Delay & Admit The Appeal For Adjudication.

For Appellant: Shri Alan Priyadarshini Dev, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(3)Section 80PSection 80P(2)(a)

…Pof the Act. 4. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order confirmed the action of the AO placing reliance on the decision of the Hon'ble Apex Court in the case of Totgar’s Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283 (SC). 5. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal. 6. In this regard the Appellant wishes to rely on the Judgment by the Hon'ble Supreme Court of India (Hon'ble SC) in the Civil Appeal Nos. 7343-7350 of 2019 between the Mavilayi Service 3 Avinissery Service Co-op. Bank Ltd. Cooperative Bank Ltd. a…

The Kattoor Service Cooperative Bank Limited, Thrissur vs. Income Tax Officer, Ward 2(1), Thrissur

In the result, the appeal filed by the assessee stands allowed

ITA 714/COCH/2025[2022-23]Status: DisposedITAT Cochin06 Nov 2025AY 2022-23

Bench: Shri Inturi Rama Rao, Am & Shri Manu Kumar Giri, Jm Assessment Year: 2022-23 Kattoor Service Co-Op. Bank Ltd. .......... Appellant Kattoor P.O., Thrissur 680702 [Pan: Aacat3937A] Vs. The Income Tax Officer, Ward-2(1), Thrissur ......... Respondent Assessee By: Shri Amaljith P.J., Ca Revenue By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 03.11.2025 Date Of Pronouncement: 06.11.2025 O R D E R Per Manu Kumar Giri, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [“Cit(A)” In Short] Dated 25.08.2025 For Assessment Year (Ay) 2022-23. 2. Brief Facts Of The Case Are That The Appellant Is A Co-Operative Society Registered Under The Kerala State Co-Operative Societies Act, 1961. It Is Classified As A Primary Agricultural Credit Co-Operative Society. It Is Engaged In The Business Of Accepting Deposits From Members & Providing Credit Facilities To Members. The Return Of 2 Kattoor Service Co-Op. Bank Ltd. Income For Ay 2022-23 Was Filed On 05.11.2022 Disclosing Nil Income After Claiming Deduction U/S. 80P Of The Income Tax Act, 1961 (The Act). Against The Said Return Of Income, The Assessment Was Completed By The Assessment Unit, Income Tax Department (Hereinafter Called "The Ao") Vide Order Dated 19.03.2024 Passes U/S. 143(3) R.W.S. 144B Of The Act At A Total Income Of Rs.5,21,52,939/-. While Doing So, The Ao Denied Deduction U/S.80P(2)(A)(I) & U/S. 80P(2)(D) Of The Act.

For Appellant: Shri Amaljith P.J., CAFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(3)Section 63Section 64Section 80PSection 80P(2)(a)Section 80P(2)(d)

…of the Act. 3. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order confirmed the action of the AO placing reliance on the decision of the Hon'ble Apex Court in the case of Totgar’s Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283 (SC), etc. 4. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal. 5. We have heard the rival contentions and perused the material available on record. The issue in the present appeal is whether the interest income received from co-operative banks and commercial banks, other financial institutions qualify for…