Totgars Co-operative Sale Society Ltd. v. ITO

58 Taxmann.com 35High Court2015#945 most cited

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

When a co-operative society earns interest on deposits with scheduled banks, this income is assessable under "Income from other sources" (Section 56), and the society is entitled to deduct related administrative and proportionate expenses under Section 57 to tax only the net interest income.

114

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

Totgars Co-operative Sale Society Ltd. v. ITO · co-operative society interest income · Section 56 Income from other sources · Section 57 deductions · administrative expenses deduction · proportionate expenses deduction · interest on bank deposits · net interest income taxability · Section 80P · interplay Section 56 Section 57 Section 80P · Karnataka High Court

Also reported as

322 ITR 272

Sections most often in play

Section 80P(2)(d)Section 80P(2)(a)(i)Section 56Section 143(3)Section 57Section 57(iii)Section 80PSection 142(1)

Issues it is cited on

section 80p(2)(a)(iii)section 58section 80p(2)(c)section 57(iii)section 5(b)section 194a(3)(v)section 57section 194a(3)section 80p(2)(a)section 80p(2)(d)section 80p(2)(a)(i)section 80p(2)

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

BALAJI VIVIDODDESHA SOUHARDA SAHAKARI NIYAMITHA,HOSPET vs. INCOME TAX OFFICER, WARD NO - 1, HOSPET, HOSPET

The appeal is allowed, and the assessee is entitled to the deduction

ITA 2247/BANG/2025[2015 - 16]Status: DisposedITAT Bangalore03 Mar 2026

Bench: Shri Prashant Maharishiassessment Year : 2015-16

For Appellant: Shri Likith Patel, AdvocateFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 143(3)Section 254Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE PRESIDENT Assessment year : 2015-16 Balaji Vividoddesha Souharda Vs. The Income Tax Officer, Sahakari Niyamitha, Ward 1, Old Medar Road, Hospet. Hospet – 583 201. PAN: AAAJB 0637L APPELLANT RESPONDENT Appellant by : Shri Likith Patel, Advocate Respondent by : Shri Ganesh R. Ghale, Standing Counsel. Date of hearing : 03.03.2026 Date of Pronouncement : 03.03.2026 O R D E R 1. Balaji Vividoddesha Souharda Sahakari Niyamitha (the assessee/appellant) filed appeal in ITA No 2247/Bang/2025 for the assessment year 2015…

SRI GURU VAPPATHINA SWAMY PATHINA SAHAKARA SANGHA NIYAMITHA,OPP OPPATHINA SANGHA MATT, HOSADURGA vs. INCOME TAX OFFICER, INCOME TAX OFFICER, WARD , CHITRADURGA

The Appeal of the Assessee is allowed holding that Assessee is entitled to deduction u/s

ITA 2483/BANG/2025[2022-23]Status: DisposedITAT Bangalore11 Feb 2026AY 2022-23

Bench: Shri Prashant Maharishi, Vice –Assessment Year : 2022-23 M/S. Sri Guru Vappathina Swamy Pathin Sahakara Sangha The Income Tax Officer, Niyamitha, Ward-1, Opp Oppathina Sangha Matt, Vs. Chitradurga. Hosadurga – 577 501. Pan: Aaaas3998Q Appellant Respondent

For Appellant: Ms. Shreesha, CA
Section 143(3)Section 56Section 57Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘SMC’ BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE – PRESIDENT Assessment Year : 2022-23 M/s. Sri Guru Vappathina Swamy Pathin Sahakara Sangha The Income Tax Officer, Niyamitha, Ward-1, Opp Oppathina Sangha Matt, Vs. Chitradurga. Hosadurga – 577 501. PAN: AAAAS3998Q APPELLANT RESPONDENT Assessee by : Ms. Shreesha, CA : Shri Ganesh R Gale, Standing Counsel Revenue by for Department Date of Hearing : 18-12-2025 Date of Pronouncement : 11-02-2026 ORDER PER PRASHANT MAHARISHI, VICE – PRESIDENT 1. ITA No. 2483/Bang/2025 is filed for Assessment Year 2023-24 directed aga…

HULGOL SEVA SAHAKARI SANGH,UTTARA KANNADA vs. INCOME TAX OFFICER, WARD-1, SIRSI

In the result we reverse the orders of the Ld

ITA 2068/BANG/2025[2017-18]Status: DisposedITAT Bangalore09 Feb 2026AY 2017-18

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year :2017-18 M/S. Hulgol Seva Sahakari Sangh, Bhairumbe,Sirsi-Yellapura Road, The Income Tax Officer, Sirsi Taluk, Uttara Kannada, Ward-1, Vs. Karnataka – 581402. Sirsi. Pan: Aaajh0032P Appellant Respondent

For Appellant: Shri Prakash Shridhar Hegde, CA
Section 143(3)Section 263Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(2)(iv)Section 890

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘SMC’BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE – PRESIDENT AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment Year :2017-18 M/s. Hulgol Seva Sahakari Sangh, Bhairumbe,Sirsi-Yellapura Road, The Income Tax Officer, Sirsi Taluk, Uttara Kannada, Ward-1, Vs. Karnataka – 581402. Sirsi. PAN: AAAJH0032P APPELLANT RESPONDENT Assessee by : Shri Prakash Shridhar Hegde, CA : Shri Ganesh R Ghale – Advocate, Revenue by Standing Counsel for Revenue Date of Hearing : 25-11-2025 Date of Pronouncement : 09-02-2026 ORDER PER PRASHANT MAHARISHI, VICE – PRESIDENT 1. ITA No. 2068…

UOH STAFF COOPERATIVE CREDIT SOCIETY LIMITED,HYDERABAD vs. ITO., WARD-8(1), HYDERABAD

In the result, the appeal filed by the assessee is dismissed

ITA 469/HYD/2025[2021-2022]Status: DisposedITAT Hyderabad21 Jan 2026AY 2021-2022

Bench: the Ld. CIT(A). Before the Ld. CIT(A), the assessee has reiterated its arguments made before the A.O. and claimed that interest earned from fixed deposit with the nationalized banks is also eligible for claiming deduction under Section 80P(2)(a)(i) or Section 80P(2)(d) of the Act because the interest received is forming part of business of the assessee and therefore the same cannot be disallowed under Section 80P(2)(a)(i) of the Act. The Ld. CIT(A), after considering the submissions of the

For Appellant: Shri K. Saikiran, C.AFor Respondent: Ms. P. Sumitha. Sr. A.R
Section 80P(2)(a)Section 80P(2)(d)

…2)(a)(i) or Section 80P(2)(d) of the Act. The A.O., after considering the relevant submissions of the assessee and also by following the decision of Hon'ble Karnataka High Court in the case of Totgars Co-operative Sales Society Ltd. Vs. CIT reported in (2010) 322 ITR 272, rejected the explanation of the assessee and made addition of Rs. 2,14,662/- towards interest earned from fixed deposit with the nationalized banks under Section 80P(2)(d) of the Act. 3. Aggrieved by the assessment order, the assessee preferred appeal before the Ld. CIT(A). Before the Ld. CIT(A), the assessee has reiterated its arguments made b…

SHREE DATTA NAGARI SAHAKARI PAT SANSTHA,SANGLI vs. ITO WARD-5, SANGLI

In the result, both the appeals of the assessee for AY 2018-19 (ITA

ITA 626/PUN/2025[2018-19]Status: DisposedITAT Pune22 Sept 2025AY 2018-19

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

For Appellant: Shri Sarang S. GudhateFor Respondent: Shri Ramnath P. Murkunde
Section 139(1)Section 142(1)Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.626 & 625/PUN/2025 धििाारण वर्ा / Assessment Years : 2018-19 & 2020-21 Shree Datta Nagari Sahakari Pat Sanstha, ITO, Ward-5, Sangli Urun, Islampur, Sangli-415409 Vs. PAN : AAAAS8250R अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Shri Sarang S. Gudhate Department by : Shri Ramnath P. Murkunde Date of hearing : 15-07-2025 Date of 22-09-2025 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM : The above t…

SHREE DATTA NAGARI SAHAKARI PAT SANSTHA,SANGLI vs. ITO WARD-5, SANGLI

In the result, both the appeals of the assessee for AY 2018-19 (ITA

ITA 625/PUN/2025[2020-21]Status: DisposedITAT Pune22 Sept 2025AY 2020-21

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

For Appellant: Shri Sarang S. GudhateFor Respondent: Shri Ramnath P. Murkunde
Section 139(1)Section 142(1)Section 56Section 80Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.626 & 625/PUN/2025 धििाारण वर्ा / Assessment Years : 2018-19 & 2020-21 Shree Datta Nagari Sahakari Pat Sanstha, ITO, Ward-5, Sangli Urun, Islampur, Sangli-415409 Vs. PAN : AAAAS8250R अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Shri Sarang S. Gudhate Department by : Shri Ramnath P. Murkunde Date of hearing : 15-07-2025 Date of 22-09-2025 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM : The above t…

SRI. JAYACHAMARAJA CREDIT CO-OPERATIVE SOCIETY LIMITED ,BANGALORE vs. PR. CIT, BENGALURU-1, BANGALORE

In the result, the appeal of the assessee is allowed

ITA 983/BANG/2025[2020-21]Status: DisposedITAT Bangalore26 Aug 2025AY 2020-21

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2020-21

For Appellant: Shri G. Venkatesh, AdvocateFor Respondent: Shri Murali Mohan, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 263Section 56Section 80PSection 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE PRESIDENT AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment year: 2020-21 Sri Jayachamaraja Credit Vs. The Principal Commissioner Co-operative Society Ltd., of Income Tax [PCIT], 21/1, SLV Temple Street, Bengaluru-1, Matadahalli, R.T. Nagar, Bengaluru. Bangalore – 560 032. PAN: AACTS 3652G APPELLANT RESPONDENT Appellant by : Shri G. Venkatesh, Advocate Respondent by : Shri Murali Mohan, CIT(DR)(ITAT), Bengaluru. Date of hearing : 10.07.2025 Date of Pronouncement : 26.08.2025 O R D E R Per Prashant Maharishi…

INCOME TAX OFFICER,WARD-1, HOSPET vs. GAYATRI PATTINA SOUHARDA SAHAKARI SANGHA NIYAMITHA, HOSPET, HOSPET

ITA 1078/BANG/2024[2017-18]Status: DisposedITAT Bangalore17 Jul 2025AY 2017-18

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Balram R Rao, A.RFor Respondent: Ms. Neha Sahay, D.R
Section 143(1)Section 143(3)Section 194ASection 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ct of earning such interest income should be allowed as deduction u/s 57 of the I.T.Act, 1961. We find an identical issue was considered by the Hon'ble jurisdictional High Court in the case of Totagars Co-operative Sales Society Ltd. V. ITO reported in [2015] 58 Taxmann.com 35 (Karnataka) (judgment dated 25.03.2015). The relevant findings of the Hon'ble High Court, read as follows: “11. Having heard the learned counsel for the parties and perusing the records and in the light of the finding recorded by The Hon'ble Supreme Court that the interest income earned by the appellant falls within the category of “other…

INCOME TAX OFFICER, WARD-7(2)(1), BENGALURU, BANGALORE vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED , BANGALORE

ITA 2348/BANG/2024[2020-21]Status: DisposedITAT Bangalore30 Jun 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Sandeep Chalapathy, A.RFor Respondent: Smt. Neha Sahay, D.R
Section 250

…under the head "Income from other sources" u/s. 56 of the Act. In such scenario, the assessee is entitled for deduction u/s. 57 of the Act. This view is supported by the decision of Hon'ble Karnataka High Court in Totgars Co-operative Sale Society Ltd v. ITO 58 Taxmann.com 35 wherein it was held that Where assessee a co-operative society, earned interests on deposits kept with scheduled banks only net interest income, i.e., interest income reduced by administrative expenses and other proportionate expenses to earn said income had to be brought to tax under section 56. In the instant case, the interest paid on th…

INCOME-TAX OFFICER, WARD-7(2)(1), BENGALURU, BENGALURU vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED, BENGALURU

ITA 2347/BANG/2024[2018-19]Status: DisposedITAT Bangalore30 Jun 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Respondent: Sri Sandeep Chalapathy, A.R
Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…ed under the head "Income from other sources" u/s.56 of the Act. In such scenario, the assessee is entitled for deduction u/s.57 of the Act. This view is supported by the decision of Hon'ble Karnataka High Court in Totgars Co-operative Sale Society Ltd v. ITO 58 Taxmann.com 35 wherein it was held that Where assessee a co-operative society, earned interests on deposits kept with scheduled banks only net interest income, i.e., interest income reduced by administrative expenses and other proportionate expenses to earn said income had to be brought to tax under section 56. In the instant case, the interest paid on th…

NEERE BAILUR VYAVASAYA SEVA SAHAKARI SANGHA N,UDUPI vs. INCOME TAX OFFICER WARD 1 AND TPS, UDUPI, UDUPI, KARNATAKA

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

ITA 1518/BANG/2024[AY 2018-19]Status: DisposedITAT Bangalore19 May 2025

Bench: Shri Laxmi Prasad Sahuassessment Year : 2018-19

For Appellant: Shri Sriram V Rao, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 143(1)Section 143(3)Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC - B” BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment year : 2018-19 Neere Bailur Vyavasaya Seva Vs. The Income Tax Officer, Sahakari Sangha N, Ward 1 and TPS, DRGS/2586/76-77, Sadhana Udupi. Sahakara Soudha, Neere Village, Post BAILUR. Karkala Taluk. Udupi – 574 102. PAN: AACAN 2977N APPELLANT RESPONDENT Appellant by : Shri Sriram V Rao, CA Respondent by : Shri Ganesh R. Ghale, Standing Counsel. Date of hearing : 07.05.2025 Date of Pronouncement : 19.05.2025 O R D E R This appeal of the assessee is against the DIN & Order No. ITBA/NFAC/S/…

THE BBR & RDCC BANK EMPLOYEES CO-OP SOCIETY LIMITED,BANGALORE vs. ITO, WARD-5(2)(1), BENGALURU

In the result, all the four appeals are allowed for statistical purposes

ITA 132/BANG/2025[2020-21]Status: DisposedITAT Bangalore08 May 2025AY 2020-21

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…INCOME TAX APPELLATE TRIBUNAL "B" BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. KESHAV DUBEY, JUDICIAL MEMBER ITA Nos.129 to 132/Bang/2024 Assessment Years :2017-18, 2018-19, 2020-21 M/s. The BBR&RDCC Bank Employees Vs. ITO, Co-op Society Ltd., No.6, V Mai Road, Chamrajpet, Bangalore - 560 018. Ward - 5(2)(1), Bangalore. PAN :AAAAB 1346 D APPELLANT RESPONDENT Assessee by : Shri. Gireesha, CA Revenue by : Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore. Date of hearing : 24.04.2025 Date of Pronouncement: 08.05.2025 ORDER Per Laxmi Prasad Sahu, Accountant Member : ITA Nos.129, 131 an…

THE BBR & RDCC BANK EMPLOYEES CO-OP SOCIETY LIMITED ,BANGALORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BANGALORE

In the result, all the four appeals are allowed for statistical purposes

ITA 131/BANG/2025[2018-19]Status: DisposedITAT Bangalore08 May 2025AY 2018-19

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…IN INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. KESHAV DUBEY, JUDICIAL MEMBER ITA Nos.129 to 132/Bang/2024 Assessment Years :2017-18, 2018-19, 2020-21 M/s. The BBR&RDCC Bank Employees Vs. ITO, Co-op Society Ltd., Ward - 5(2)(1), No.6, V Mai Road, Chamrajpet, Bangalore. Bangalore - 560 018. PAN :AAAAB 1346 D APPELLANT RESPONDENT Assessee by : Shri. Gireesha, CA Revenue by : Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore. Date of hearing : 24.04.2025 Date of Pronouncement : 08.05.2025 ORDER Per Laxmi Prasad Sahu, Accountant Member : ITA Nos.1…

THE BBR & RDCC BANK EMPLOYEES CO-OP SOCIETY,BANGALORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BANGALORE

In the result, all the four appeals are allowed for statistical purposes

ITA 130/BANG/2025[2017-18]Status: DisposedITAT Bangalore08 May 2025AY 2017-18

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…IN INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. KESHAV DUBEY, JUDICIAL MEMBER ITA Nos.129 to 132/Bang/2024 Assessment Years :2017-18, 2018-19, 2020-21 M/s. The BBR&RDCC Bank Employees Vs. ITO, Co-op Society Ltd., Ward - 5(2)(1), No.6, V Mai Road, Chamrajpet, Bangalore. Bangalore - 560 018. PAN :AAAAB 1346 D APPELLANT RESPONDENT Assessee by : Shri. Gireesha, CA Revenue by : Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore. Date of hearing : 24.04.2025 Date of Pronouncement : 08.05.2025 ORDER Per Laxmi Prasad Sahu, Accountant Member : ITA Nos.1…

THE BBR & RDCC BANK EMPLOYEES CO-OP SOCIETY ,BANGALORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BANGALORE

In the result, all the four appeals are allowed for statistical purposes

ITA 129/BANG/2025[2017-18]Status: DisposedITAT Bangalore08 May 2025AY 2017-18

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

For Appellant: Shri. Gireesha, CAFor Respondent: Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore
Section 143(3)Section 270ASection 80PSection 80P(2)(a)Section 80P(2)(d)

…IN INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. KESHAV DUBEY, JUDICIAL MEMBER ITA Nos.129 to 132/Bang/2024 Assessment Years :2017-18, 2018-19, 2020-21 M/s. The BBR&RDCC Bank Employees Vs. ITO, Co-op Society Ltd., Ward - 5(2)(1), No.6, V Mai Road, Chamrajpet, Bangalore. Bangalore - 560 018. PAN :AAAAB 1346 D APPELLANT RESPONDENT Assessee by : Shri. Gireesha, CA Revenue by : Shri. Subramanian S, JCIT(DR)(ITAT), Bangalore. Date of hearing : 24.04.2025 Date of Pronouncement : 08.05.2025 ORDER Per Laxmi Prasad Sahu, Accountant Member : ITA Nos.1…

SREE SEETHARAMA MANDIRAM ,BENGALURU vs. INCOME TAX OFFICER, WARD-5(2)(1), BANGALORE

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

ITA 318/BANG/2025[2020-21]Status: DisposedITAT Bangalore25 Apr 2025AY 2020-21

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year :2020-21

For Appellant: Shri. Zain Khan, CAFor Respondent: Shri. Subramanian S,JCIT(DR)(ITAT), Bangalore
Section 154Section 5Section 56Section 57Section 80PSection 80P(2)(a)

…IN INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. KESHAV DUBEY, JUDICIAL MEMBER Assessment Year :2020-21 M/s. Sree SeetharamaMandiram, Vs. ITO, 1067, PRS Lane Ulsoorpet, Ward – 5(2)(1), Bangalore – 560 002. Bangalore. PAN :AADTS 3925 K APPELLANT RESPONDENT Assessee by : Shri. Zain Khan, CA Revenue by : Shri. Subramanian S,JCIT(DR)(ITAT), Bangalore. Date of hearing : 23.04.2025 Date of Pronouncement : 28.04.2025 ORDER Per Laxmi Prasad Sahu, Accountant Member : This appeal is filed by the assessee against the Order passed by the National Faceles…

SHIMOGA DAVANAGERE CHITRADURGA DIST COOP MILK PRODUCERS SOC UNION LIMITED,MACHENAHALLI NIDIGE POST vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1 SHIVAMOGGA, SHIVAMOGGA

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

ITA 135/BANG/2025[2016-17]Status: DisposedITAT Bangalore19 Mar 2025AY 2016-17

Bench: Shri Waseem Ahmed & Shri Prakash Chand Yadav

For Appellant: Shri Siddesh Nagaraj Gaddi, CAFor Respondent: Shri Subramanian S, JCIT(DR)
Section 142(1)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI PRAKASH CHAND YADAV, JUDICIAL MEMBER ITA Nos.135 & 136/Bang/2025 Assessment Years: 2016-17 & 2017-18 Shimoga Davangere Chitradurga Dist. Vs. The Asst. Commissioner of Coop Milk Producers Soc Union Limited, Income Tax, Machenahalli, Nidige Post, Circle – 1, Shivamogga. B.H Road Shimoga Dairy, Shivamogga – 577 222. PAN – AALAS 8422 L APPELLANT RESPONDENT Assessee by : Shri Siddesh Nagaraj Gaddi, CA Revenue by : Shri Subramanian S, JCIT(DR) Date of hearing : 17.03.2025 Date of Pronouncement : 19.03.…

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 162/CHANDI/2023[2013-14]Status: DisposedITAT Chandigarh12 Feb 2025AY 2013-14

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं . / ITA No.160, 161 & 162/ Chd/2023 निर्धारण वर्ष / Assessment Year : 2017-18, 2012-13 & 2013-14 The Jyoti Co-operative Non Agricultural Thrift & Credit Society Ltd. Sirmour, Solan, HP-173025 स्थायी लेखा सं. / PAN NO: AAABT1453G अपीलार्थी/Appellant बनाम The ITO H.P Ward-Nahan, Sirmour प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, Advocate राजस्व की ओर से / Revenue by : Dr. Ranjeet K

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR
Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…s further submitted that in the bye laws of 3 the assessee society, there is no requirement to park its surplus funds in FDRs. It was further submitted that the decision of Hon’ble Supreme Court in case of Totgars Co-operative Society Ltd. Vs. ITO reported in 322 ITR 272 is not applicable as in that case, the society was engaged in the business of providing credit to its members apart from its marketing activities and under its bye laws, the profit from marketing activities had to be invested / parked in the FDRs and in view of the facts of that case, the Hon’ble Supreme Court held the same to be not attributable…

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 161/CHANDI/2023[2012-13]Status: DisposedITAT Chandigarh12 Feb 2025AY 2012-13

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR
Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…s further submitted that in the bye laws of 3 the assessee society, there is no requirement to park its surplus funds in FDRs. It was further submitted that the decision of Hon’ble Supreme Court in case of Totgars Co-operative Society Ltd. Vs. ITO reported in 322 ITR 272 is not applicable as in that case, the society was engaged in the business of providing credit to its members apart from its marketing activities and under its bye laws, the profit from marketing activities had to be invested / parked in the FDRs and in view of the facts of that case, the Hon’ble Supreme Court held the same to be not attributable…

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

ITA 160/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh12 Feb 2025AY 2017-18
For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Dr. Ranjeet Kaur, Sr. DR
Section 142(1)Section 80Section 80P(2)Section 80P(2)(a)

…s further submitted that in the bye laws of 3 the assessee society, there is no requirement to park its surplus funds in FDRs. It was further submitted that the decision of Hon’ble Supreme Court in case of Totgars Co-operative Society Ltd. Vs. ITO reported in 322 ITR 272 is not applicable as in that case, the society was engaged in the business of providing credit to its members apart from its marketing activities and under its bye laws, the profit from marketing activities had to be invested / parked in the FDRs and in view of the facts of that case, the Hon’ble Supreme Court held the same to be not attributable…

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