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 56, Section 143(3), Section 57, Section 57(iii).

Totgars Co-operative Sale Society Ltd. v. ITO

Q: How many judgments cite Totgars Co-operative Sale Society Ltd. v. ITO?

114 judgments on BharatTax cite Totgars Co-operative Sale Society Ltd. v. ITO (58 Taxmann.com 35), spanning 2015 to 2026.

58 Taxmann.com 35High Court2015#934 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 366,470 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 56 Section 143(3)Section 57 Section 57(iii)Section 80P Section 142(1)

Read the full judgment

Issues it is cited on

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

M/S. Kokkada Primary Agricultural Credit Co-Operative Society Limited, Belthangady vs. Income Tax Officer, Ward-1, Puttur

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

ITA 371/BANG/2020[2016-17]Status: DisposedITAT Bangalore29 Oct 2021AY 2016-17

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

For Appellant: Sri. Srikrishna, CAFor Respondent: Sri.Sankar Ganesh K, JCIT-DR

Section 18Section 2Section 80PSection 80P(2)(d)Section 80P(4)

…incurred for earning such interest income should be allowed as deduction u/s 57 of the I.T.Act, we find an identical issue was considered by the Hon’ble jurisdictional High Court in the case of Totgars 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…

M/S. Manjunatheshwara Credit Co-Operative Society Limited, Bengaluru vs. Income Tax Officer, Ward- 6(2)(2), Bengaluru

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

ITA 2238/BANG/2019[2015-16]Status: DisposedITAT Bangalore14 Oct 2021AY 2015-16

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

For Appellant: Sri.Chaitanya V. Mudrabettu, CAFor Respondent: Sri.K.Sankar Ganesh, JCIT-DR

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

…incurred for earning such interest income should be allowed as deduction u/s 57 of the I.T.Act. We find an identical issue was considered by the Hon’ble jurisdictional High Court in the case of Totagars Co-operative Sale 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…

M/S. Panaje Cabank Limited, Puttur vs. Income Tax Officer, Ward - 1, Puttur

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

ITA 207/BANG/2020[2016-17]Status: DisposedITAT Bangalore11 Oct 2021AY 2016-17

Bench: Shri George George K

For Appellant: Sri.Narendra Sharma, AdvocateFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel

Section 234BSection 57Section 80PSection 80P(2)Section 8O

…aim of deduction u/s 80P(2)(d) of the I.T.Act, afresh. 7.3 Insofar as ground No.8 is concerned, I find an identical issue was considered by the Hon’ble jurisdictional High Court in the case of Totgars 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…

M/S. Primary Agricultural Credit Co-Operative Service Society Limited, Belthangady vs. Income Tax Officer, Ward- 1, Puttur

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

ITA 1306/BANG/2019[2016-17]Status: DisposedITAT Bangalore08 Oct 2021AY 2016-17

Bench: Shri B.R. Baskaran & Smt Beena Pillaiita. No. 1306/Bang/2019 Assessment Year: 2016-17 M/S. Primary Agricultural Credit Co-Operative Service The Income Tax Officer, Society Ltd., Ward – 1, Puttur – Ujire, 574 201. Belthangady – 574 240. Vs. Pan: Aaaju0058J (Appellant) (Respondent) For Assessee: Shri Mahesh R. Uppin, Advocate For Revenue : Shri Priyadarshi Mishra, Addl.Cit.(Dr) Date Of Hearing : 30.08.2021 Date Of Pronouncement : 08.10.2021 Order Per Beena Pillai, Jm. Present Appeals Are Filed By The Assessee Against The Common Order Dated 14/03/2019 Passed By The Ld.Cit(A) Mangaluru For Assessment Year 2016-17 On The Following Grounds:

For Appellant: Shri Mahesh R. Uppin, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT.(DR)

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

…Ld.AO assessed the interest income received from bank deposits under the head income from other sources. The Ld.Counsel placed reliance on the decision of Hon’ble Karnataka High Court in case of Totgars co-operative sale society Ltd. vs ITO reported in (2015) 58 Taxmann.com 35. We have perused plethora of decisions on this issue by Hon’ble Karnataka High Court and the ratio laid down by Hon’ble Supreme Court. Hon’ble Supreme Court in the case of the Totgars Co-operative Sale Society Ltd. Vs. ITO reported in 322 ITR 283 held that, Income from utilisation of surplus funds was taxable under the head income from othe…

Nikhara Souharda Credit Co-Operative Limited, Bengaluru vs. The Income Tax Officer, Ward- 5(2)(5), Bengaluru

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

ITA 630/BANG/2020[2014-15]Status: DisposedITAT Bangalore22 Sept 2021AY 2014-15

Bench: Shri George George K

For Appellant: Sri.Nitish Ranjan, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel

Section 143(2)Section 2(19)Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…I.T.Act. The learned AR for allowing deduction u/s 57 of the 4 ITA Nos.629-630/Bang/2020. M/s.Nikhara Souharda Credit Co-op Limited. I.T.Act, relied on Hon’ble Karnataka High Court judgment in the case of Tatgars Co-operative Sales Society Ltd. v. ITO [2015] 58 Taxmann.com 35 (Karnataka) judgment dated 25.03.2015). 6. The learned Standing Counsel submitted that the issue in question is squarely covered by the order of the Tribunal in the case of M/s.Vasavamba Co-operative Society Ltd. v. The Pr.CIT in ITA No.453/Bang/2020 (order dated 13.08.2021). It was submitted by the learned Standing Counsel that the Tribun…

Nikhara Souharda Credit Co-Operative Limited, Bengaluru vs. The Income Tax Officer, Ward- 5(2)(5), Bengaluru

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

ITA 629/BANG/2020[2013-14]Status: DisposedITAT Bangalore22 Sept 2021AY 2013-14

Bench: Shri George George K

For Appellant: Sri.Nitish Ranjan, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel

Section 143(2)Section 2(19)Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

The Primary Co-Operative Agricultural & Rural Development Bank Limited, Sullia vs. Income Tax Officer, Ward-1, Puttur

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

ITA 468/BANG/2020[2016-17]Status: DisposedITAT Bangalore02 Sept 2021AY 2016-17

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year:2016-17

For Appellant: Shri A. Ravish Rao, A.RFor Respondent: Shri Priyadarshi Mishra, D.R

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

…ITA No.468/Bang/2020 The Primary Co-Op Agricultural & Rural Development Bank Ltd., Sullia IN THE INCOME TAX APPELLATE TRIBUNAL “B’’BENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year:2016-17 The Primary Co-op. Agricultural & Rural Development Bank Ltd. Near KSRTC Bus Stand Sullia Vs. ITO Ward-1 Karnataka Puttur PAN NO : AAALT0052B APPELLANT RESPONDENT Appellant by : Shri A. Ravish Rao, A.R. Respondent by : Shri Priyadarshi Mishra, D.R. Date of Hearing : 02.09.2021 Date of Pronouncement : 02.09.2021 O R D E R PERB.R. BASKARAN, ACCOUNTANT MEM…

Sri Ananthapadmanabha Credit Co-Operative Society Limited, Karkala vs. Income Tax Officer, Ward- 3, Udupi

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

ITA 1256/BANG/2019[2016-17]Status: DisposedITAT Bangalore01 Sept 2021AY 2016-17

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year: 2016-17

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Priyadarshi Mishra, D.R

Section 234BSection 57Section 80PSection 80P(2)(a)

…ITA No.1256/Bang/2019 M/s. Sri Ananthapadmanabha Credit Co-operative Society Ltd., Karkala IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year: 2016-17 M/s. Sri Ananthapadmanabha Credit Co-operative Society Ltd. 1, R.G. Pai Complex, Hebri Vs. ITO Ward-3 Karkala 574 104 Udupi PAN NO : AACAS9906L APPELLANT RESPONDENT Appellant by : Shri V. Srinivasan, A.R. Respondent by : Shri Priyadarshi Mishra, D.R. Date of Hearing : 01.09.2021 Date of Pronouncement : 01.09.2021 O R D E R PER B.R. BASKARAN, ACCOUNT…

M/S. Aletty Co-Operative Agricultural Bank Limited, Sullia vs. Income Tax Officer, Ward-1, Bangalore

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

ITA 469/BANG/2020[2016-17]Status: DisposedITAT Bangalore31 Aug 2021AY 2016-17

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2016-17 M/S. Aletty Co-Operative Agricultural Bank Ltd., Vs. The Income Tax Officer, Aletty Post & Village, Ward -1, Sullia – 574 247. Puttur. Pan : Aaaaa 4243 J Appellant Respondent Appellant By : Shri. Ravish Rao, Ca Respondent By : Shri. Elamurugu G, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 30.08.2021 Date Of Pronouncement : 31.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Of Cit(A), Mangaluru, Dated 06.01.2020, In Relation To Ay 2016-17. 2. The Assessee Is A Primary Agricultural Credit Co-Operative Society Registered Under The Karnataka State Co-Operative Societies Act, 1959. It Accepts Deposits From Its Members & Provides Credit Facilities To Its Members. In The Return Of Income Filed For Assessment Year 2015-16, The Assessee Claimed Deduction Under Section 80P Of The Income Tax Act, 1961(Act) Of A Sum Of Rs.68,85,589/-. Out Of The Aforesaid Sum That Was Claimed As Deduction U/S.80P Of The Act, A Sum Of Rs.43,49,141 Was Interest On Deposits Made With South Canara District Co-Operative Bank(Scdcc Bank) & A Sum Of Rs.5,72,959 Was Dividend On Investments Made In Scdcc Bank. The Deduction On The Aforesaid Two Page 2 Of 14 Sums Were Claimed By The Assessee U/S.80P(2)(A)(D) Of The Act. The Remaining Sum Was Claimed As Deduction U/S.80P(2)(A) (I) Of The Act, Being Income Earned From Providing Credit Facility To Its Members.

For Appellant: Shri. Ravish Rao, CAFor Respondent: Shri. Elamurugu G, JCIT(DR)(ITAT), Bengaluru

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Aletty Co-operative Agricultural Bank Ltd., Vs. The Income Tax Officer, Aletty Post and Village, Ward -1, Sullia – 574 247. Puttur. PAN : AAAAA 4243 J APPELLANT RESPONDENT Appellant by : Shri. Ravish Rao, CA Respondent by : Shri. Elamurugu G, JCIT(DR)(ITAT), Bengaluru Date of hearing : 30.08.2021 Date of Pronouncement : 31.08.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order of CIT(A), Ma…

M/S. Ravindra Multipurpose Co-Operative Society Limited, Udupi vs. Income Tax Officer, Ward - 3, Udupi

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

ITA 1262/BANG/2019[2016-17]Status: DisposedITAT Bangalore31 Aug 2021AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17

For Appellant: Shri Ramasubramaniyan, C.AFor Respondent: Smt. H Kabila, Addl.CIT

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

…assessed the interest income received from bank deposits under the head income from other sources. The Ld.Counsel placed reliance on the decision of Hon’ble Karnataka High Court in keep case of Totgars co-operative sale society Ltd. vs ITO reported in (2015) 58 Taxmann.com 35. We have perused plethora of decisions on this issue by Hon’ble Karnataka High Court and the ratio laid down by Hon’ble Supreme Court. Hon’ble Supreme Court in the case of the Totgars Co-operative Sale Society Ltd. Vs. ITO reported in 322 ITR 283 held that, Income from Page 8 of 12 utilisation of surplus funds was taxable under the head inc…

M/S. Potters Cottage Industrial Co-Operative Society Limited, Puttur vs. Income Tax Officer, Ward- 1, Puttur

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

ITA 1257/BANG/2019[2015-16]Status: DisposedITAT Bangalore30 Aug 2021AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri V Srinivasan, Advocate

Section 234Section 57Section 80P

…ssed the interest income received from bank deposits under the head income from other sources. 6.2 The Ld.Counsel placed reliance on the decision of Hon’ble Karnataka High Court in keep case of Totgars co-operative sale society Ltd. vs ITO reported in (2015) 58 Taxmann.com 35. 6.3 We have perused plethora of decisions on this issue by Hon’ble Karnataka High Court and the ratio laid down by Hon’ble Supreme Court. Hon’ble Supreme Court in the case of the Totgars Co-operative Sale Society Ltd. Vs. ITO reported in Page 8 of 13 ITA No.1257 & 1258/Bang/2019 322 ITR 283 held that, Income from utilisation of surplus fu…

M/S. Perady Vyavasaya Seva Sahakari Bank Limited, Belthangady vs. Income Tax Officer, Ward- 1, Puttur

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

ITA 1451/BANG/2019[2016-17]Status: DisposedITAT Bangalore06 Aug 2021AY 2016-17

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2016-17 M/S. Perady Vyavasaya Seva Sahakari Bank Ltd., Vs. Ito, 01, Post Perady, Ward – 1, Belthangady – 574 236. Puttur. Pan : Aaalp 0218 K Appellant Respondent Appellant By : Smt. Sheethal R. Borkar, Advocate Respondent By : Shri. Kannan Narayanan, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 04.08.2021 Date Of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 27.03.2019 Of Cit(A), Mangaluru, Relating To Assessment Year 2016-17. 2. The Assessee Is A Primary Agricultural Co-Operative Society Engaged In The Business Of Acceptance Of Deposits From Lenders, Lending Loans, Providing Banking Facility In Rural Village. The Assessee Filed Return Of Income For The Relevant Ay Declaring Nil Income After Claiming Deduction Of Rs.1,04,78,572/- Under Section 80P Of The Income Tax Act, 1961 (Act).

For Appellant: Smt. Sheethal R. Borkar, AdvocateFor Respondent: Shri. Kannan Narayanan, JCIT(DR)(ITAT), Bengaluru

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Perady Vyavasaya Seva Sahakari Bank Ltd., Vs. ITO, 01, Post Perady, Ward – 1, Belthangady – 574 236. Puttur. PAN : AAALP 0218 K APPELLANT RESPONDENT Appellant by : Smt. Sheethal R. Borkar, Advocate Respondent by : Shri. Kannan Narayanan, JCIT(DR)(ITAT), Bengaluru Date of hearing : 04.08.2021 Date of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order dated 27.03.2019 of…

M/S. Venoor Co-Operative Agricultural Bank Limited, Belthangady vs. Income Tax Officer, Ward- 1, Puttur

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

ITA 1448/BANG/2019[2016-17]Status: DisposedITAT Bangalore06 Aug 2021AY 2016-17

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2016-17 M/S. Venoor Co-Operative Agricultural Bank Ltd., Vs. Ito, Venur, Belthangady – 574 242. Ward – 1,Puttur. Pan : Aaajv 0184 C Appellant Respondent Appellant By : Smt. Sheethal R. Borkar, Advocate Respondent By : Shri. Kannan Narayanan, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 04.08.2021 Date Of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 27.03.2019 Of Cit(A), Mangaluru, Relating To Assessment Year 2016-17. 2. The Assessee Is A Primary Agricultural Co-Operative Society Engaged In The Business Of Acceptance Of Deposits From Lenders, Lending Loans, Providing Banking Facility In Rural Village. The Assessee Filed Return Of Income For The Relevant Ay Declaring Nil Income After Claiming Deduction Of Rs.83,12,836 Under Section 80P Of The Income Tax Act, 1961 (Act).

For Appellant: Smt. Sheethal R. Borkar, AdvocateFor Respondent: Shri. Kannan Narayanan, JCIT(DR)(ITAT), Bengaluru

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2016-17 M/s. Venoor Co-operative Agricultural Bank Ltd., Vs. ITO, Venur, Belthangady – 574 242. Ward – 1,Puttur. PAN : AAAJV 0184 C APPELLANT RESPONDENT Appellant by : Smt. Sheethal R. Borkar, Advocate Respondent by : Shri. Kannan Narayanan, JCIT(DR)(ITAT), Bengaluru Date of hearing : 04.08.2021 Date of Pronouncement : 06.08.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order dated 27.03.2019 of CIT(A),…

M/S. Kadaba Sahakari Vyavasayika Bank Limited, Kadaba vs. Income Tax Officer, Ward - 1, Puttur

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

ITA 210/BANG/2020[2016-17]Status: DisposedITAT Bangalore23 Jul 2021AY 2016-17

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2016-17 M/S. Kadaba Sahakari Vyavasayika Vs. Ito, Bank Ltd., Ward – 1, Kadaba Post, Kadaba Tq. Puttur. Dk – 574 221. Pan : Aaajk 0025 B Appellant Respondent Appellant By : Shri. V. Srinivasan, Advocate Respondent By : Smt. R. Premi, Jcit(Dr)(Itat), Bengaluru Date Of Hearing : 22.07.2021 Date Of Pronouncement : 23.07.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 06.01.2020 Of Cit(A), Mangaluru, Relating To Assessment Year 2016-17. 2. The Assessee Is A Primary Agricultural Co-Operative Society Duly Registered Under The Karnataka Co-Operative Societies Act,1959 & Is Engaged In The Business Of Accepting Deposits From Members, Lending Credit Facilities To Its Members (Mainly Agricultural Loans), Distribution Of Food Grains & Other Products Under State Govt'S Public Distribution System, Sale Of Fertilizers / Pesticides Etc., To Farmers. Page 2 Of 7 3. The Assessee Filed Its Return Of Income For The Assessment Year 2016-17 On 14-10-2016 Declaring A Total Income Of Rs.64,060 After Claiming Deduction Of Rs. 1,92,69,544 U/S 80P(2)(D) Of The Act. Thereafter, The Assessee’S Case Was Selected For Scrutiny Under Cass & Notice U/S 143(2) Was Issued By The Ao On 04-072017. During The Course Of The Assessment Proceedings, The Assessee Submitted A Revised Statement Of Income Declaring A Gross Total Income Of Rs 2,17,53,604 & Total Income Of Rs Nil, After Claiming A Deduction Of Rs 2,17,53,604 Under Sec 80P Of The Act.

For Appellant: Shri. V. Srinivasan, AdvocateFor Respondent: Smt. R. Premi, JCIT(DR)(ITAT), Bengaluru

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment year : 2016-17 M/s. Kadaba Sahakari Vyavasayika Vs. ITO, Bank Ltd., Ward – 1, Kadaba Post, Kadaba Tq. Puttur. DK – 574 221. PAN : AAAJK 0025 B APPELLANT RESPONDENT Appellant by : Shri. V. Srinivasan, Advocate Respondent by : Smt. R. Premi, JCIT(DR)(ITAT), Bengaluru Date of hearing : 22.07.2021 Date of Pronouncement : 23.07.2021 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assessee against the order dated 06.01.2020 of CIT(A), Mangalur…

M/S. Srinagara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward- 5(2)(5), Bangalore

In the result, both the appeals are treated as allowed for statistical purposes

ITA 163/BANG/2020[2016-17]Status: DisposedITAT Bangalore23 Jul 2021AY 2016-17

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaran

For Appellant: Shri. V. Narendra Sharma, AdvocateFor Respondent: Smt. R. Premi, JCIT(DR)(ITAT), Bengaluru

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

…of the Act. 6. We first take up the issues urged on merits. With regard to claim for deduction u/s 80P(2)(d) of the Act, the Ld. A.R. submitted that the Hon'ble Karnataka High Court has passed an order in the case of Totgars Co- operative Sales Society Ltd. (58 Taxmann.com 35), consequent to the setting aside of the issue relating to deduction u/s 80P(2)(d) of the Act to its file by Hon'ble Supreme Court. The Hon'ble Karnataka High Court has held in the case reported in 58 taxmann.com 35 that the assessee is eligible for deduction of proportionate cost, administrative and other expenses against the interest inco…

M/S. Srinagara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward- 5(2)(5), Bangalore

In the result, both the appeals are treated as allowed for statistical purposes

ITA 162/BANG/2020[2015-16]Status: DisposedITAT Bangalore23 Jul 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaran

For Appellant: Shri. V. Narendra Sharma, AdvocateFor Respondent: Smt. R. Premi, JCIT(DR)(ITAT), Bengaluru

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

The Karnataka Judicial Officers Credit Co-Operative Society Limited, Bangalore vs. The Income Tax Officer, Ward- 5(2)(3), Bangalore

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

ITA 58/BANG/2021[2016-17]Status: DisposedITAT Bangalore23 Jun 2021AY 2016-17

Bench: Shri. B.R Baskaran & Smt. Beena Pillaiassessment Year : 2016-17

For Appellant: Shri Ravishankar S.V, AdvocateFor Respondent: Shri Sajit Kumar, JCIT(DR)

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

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI. B.R BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2016-17 The Karnataka Judicial The Income-Tax Officer, Officers Credit Co-operative Ward-5(2)(3), Society Ltd., Bengaluru. 1st Floor, City Civil Court Vs. Complex, K.G Road, Bengaluru-560 009. PAN – AAAAT 1226 C APPELLANT RESPONDENT Assessee by : Shri Ravishankar S.V, Advocate Revenue by : Shri Sajit Kumar, JCIT(DR) Date of Hearing : 26-04-2021 Date of Pronouncement : 23-06-2021 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal is filed by the a…

M/S. the Puttur Primary Co-Operative Agriculture and Rural Development Bank Limited, Dakshina Kannada vs. The Income Tax Officer, Ward- 1, Puttur

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

ITA 1449/BANG/2019[2016-17]Status: DisposedITAT Bangalore14 Jun 2021AY 2016-17

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2016-17

For Appellant: Smt. Sheetal, A.RFor Respondent: Shri Priyadarshi Mishra, D.R

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

…ITA No.1449/Bang/2019 The Puttur Primary Co-op Agriculture and Rural Development Bank Ltd., Dakshina Kannada IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2016-17 The Puttur Primary Co-op Agriculture and Rural Development Bank Ltd. 01, Puttur PCARD Bank Ltd. ITO Ward-1 Vs. Santhekatte Puttur Puttur Dakshina Kannada 574 201 PAN NO : AAALT0387M APPELLANT RESPONDENT Appellant by : Smt. Sheetal, A.R. Respondent by : Shri Priyadarshi Mishra, D.R. Date of Hearing : 20.04.2021 Date of Pronouncement…

M/S. Srinagara Credit Co-Operative Society Limited, Bangalore vs. Income Tax Officer, Ward- 5(2)(5), Bangalore

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

ITA 133/BANG/2020[2011-12]Status: DisposedITAT Bangalore21 Apr 2021AY 2011-12

Bench: Shri B. R. Baskaran“Smc” Assessment Year: 2011-12

For Appellant: Shri Ravi Shankar, A.RFor Respondent: Shri Ganesh R. Ghale

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

…le for deduction u/s 80P(2)(c) of the Act. M/s. Srinagara Credit Co-operative Society Limited, Bangalore Page 4 of 7 6. The Ld D.R admitted that the decision rendered by the Hon’ble Karnataka High Court in the case of Totgars Co-operative Sales Society Ltd. (58 Taxmann.com 35) may be applied in the instant case. With regard to the deduction claimed u/s 80P(2)(c) in respect of Commission income, the Ld D.R fairly agreed that the assessee is eligible for the said deduction in respect of commission income. 7. I heard the parties and perused the record. In the case of Karkala Co-op. S. Bank Ltd. Vs. ITO (supra), th…

M/S. Koyyur Service Co-Operative Bank Limited, Belthangady vs. Income Tax Officer, Ward- 1, Puttur

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

ITA 1450/BANG/2019[2016-17]Status: DisposedITAT Bangalore21 Apr 2021AY 2016-17

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year: 2016-17

For Appellant: Smt. Sheethal S. Borkar, A.RFor Respondent: Smt. R. Premi, D.R

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

…ITA No.1450/Bang/2019 M/s. Koyyur Service Co-operative Bank Ltd., Belthangady IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year: 2016-17 M/s. Koyyur Service Cooperative Bank Ltd. 01, Post Koyyur ITO Ward-1 Vs. Belthangady 574 214 Puttur PAN NO : AAAALK0742K APPELLANT RESPONDENT Appellant by : Smt. Sheethal S. Borkar, A.R. Respondent by : Smt. R. Premi, D.R. Date of Hearing : 24.03.2021 Date of Pronouncement : 21.04.2021 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: The appeal filed by the ass…