Tumkur Merchants Souharda Credit Co-op. Ltd. v. ITO

55 Taxmann.com 447High Court2015#304 most cited

What is Tumkur Merchants Souharda Credit Co-op. Ltd. v. ITO authority for?

Interest income earned by a co-operative society from temporary deposits with other banks, when such deposits are made from its business funds, qualifies as business income eligible for deduction under Section 80P(2)(a)(i) and not as income from other sources.

267

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2015 to 2026.

Also referred to as

Tumkur Merchants Souharda Credit Co-op Ltd · 55 Taxmann.com 447 · Section 80P · Section 80P(2)(a)(i) · Section 80P(2)(d) · co-operative society income · interest from temporary deposits · deduction under 80P · income from other sources · business income cooperative bank · Karnataka High Court 2015

Sections most often in play

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

Issues it is cited on

section 57(i)section 80(2)(d)section 80(p)(2)(a)section 286section 80p(2)(c)section 161section 80p(2)(a)(iii)section 60section 80p(1)section 58section 80p(2)(a)section 80p(4)

Judgments citing Tumkur Merchants Souharda Credit Co-op. Ltd. v. ITO

Bellad Bagewadi Krishi Seva Sahakari Bank Limited, Hukkeri vs. Income Tax Officer, Ward-1, Gokak

ITA 6/PAN/2020[2008-09]Status: DisposedITAT Panaji13 Jul 2023AY 2008-09

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmahshalistay Application Nos.01, 02 & 03/Pan./2023 Arising Out Of Ita.Nos.11, 89 & 116/Pan./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 Along With Ita.Nos.11, 89 & 116/Pan./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 & Ita.Nos. 05 & 06/Pan./2020 Assessment Years 2007-2008 & 2008-2009 Bellad Bagewadi Krishi Seva The Income Tax Officer, Sahakari Sangh Bellad Ward-1, Bagewadi, Taluka Hukkeri, Dr. Ghogeri Building, Dist. Belagavi – 591 305 Vs. Belgaum Road, State Of Karnataka. Gokak – 591 307. Pan Aaaat0640C State Of Karnataka (Appellant) (Respondent) For Assessee : Shri Shivanand Halbhavi For Revenue : Shri N. Shrikanth Date Of Hearing : 10.07.2023 Date Of Pronouncement : 13.07.2023 Order

For Appellant: Shri Shivanand HalbhaviFor Respondent: Shri N. Shrikanth
Section 143(3)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH : PANAJI (THROUGH VIRTUAL HEARING) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER Stay Application Nos.01, 02 & 03/PAN./2023 Arising out of ITA.Nos.11, 89 & 116/PAN./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 ALONG WITH ITA.Nos.11, 89 & 116/PAN./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 And ITA.Nos. 05 & 06/PAN./2020 Assessment Years 2007-2008 & 2008-2009 Bellad Bagewadi Krishi Seva The Income Tax Officer, Sahakari Sangh Bellad Ward-1, Bagewadi, Taluka Hukkeri, Dr. Ghogeri Building, Dist.…

Bellad Bagewadi Krishi Seva Sahakari Bank Limited, Hukkeri vs. Income Tax Officer, Ward-1, Gokak

ITA 5/PAN/2020[2007-08]Status: DisposedITAT Panaji13 Jul 2023AY 2007-08

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmahshalistay Application Nos.01, 02 & 03/Pan./2023 Arising Out Of Ita.Nos.11, 89 & 116/Pan./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 Along With Ita.Nos.11, 89 & 116/Pan./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 & Ita.Nos. 05 & 06/Pan./2020 Assessment Years 2007-2008 & 2008-2009 Bellad Bagewadi Krishi Seva The Income Tax Officer, Sahakari Sangh Bellad Ward-1, Bagewadi, Taluka Hukkeri, Dr. Ghogeri Building, Dist. Belagavi – 591 305 Vs. Belgaum Road, State Of Karnataka. Gokak – 591 307. Pan Aaaat0640C State Of Karnataka (Appellant) (Respondent) For Assessee : Shri Shivanand Halbhavi For Revenue : Shri N. Shrikanth Date Of Hearing : 10.07.2023 Date Of Pronouncement : 13.07.2023 Order

For Appellant: Shri Shivanand HalbhaviFor Respondent: Shri N. Shrikanth
Section 143(3)Section 80P(2)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH : PANAJI (THROUGH VIRTUAL HEARING) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER Stay Application Nos.01, 02 & 03/PAN./2023 Arising out of ITA.Nos.11, 89 & 116/PAN./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 ALONG WITH ITA.Nos.11, 89 & 116/PAN./2022 Assessment Years 2017-2018, 2018-2019 & 2020-2021 And ITA.Nos. 05 & 06/PAN./2020 Assessment Years 2007-2008 & 2008-2009 Bellad Bagewadi Krishi Seva The Income Tax Officer, Sahakari Sangh Bellad Ward-1, Bagewadi, Taluka Hukkeri, Dr. Ghogeri Building, Dist.…

The Khanapur vs. S Sangh Ltd, Belgaum

Appeal is allowed in above terms

ITA 62/PAN/2022[2017-18]Status: DisposedITAT Panaji12 Jul 2023AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmahshali

For Appellant: Shri Pramod Y VaidyaFor Respondent: Shri Prabhakar Anand DJ
Section 143(3)Section 263Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH : PANAJI (THROUGH VIRTUAL HEARING) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER ITA.No. 62/PAN./2022 Assessment Year 2017-2018 Pr. CIT, The Khanapur VSS Sangh Ltd., Income Tax Office, Central Khanapur, Belgaum, vs. Rajasva Bhavan, Nava Nagar, Karnataka. Hubballi. Karnataka. PAN AAAJT0126A PIN – 580 025. (Appellant) (Respondent) For Assessee : Shri Pramod Y Vaidya For Revenue : Shri Prabhakar Anand DJ Date of Hearing : 10.07.2023 Date of Pronouncement : 12.07.2023 ORDER PER SATBEER SINGH GODARA, J.M. : This assess…

Shecospin Employees Coop. Credit Society Ltd., Solapur vs. The Income Tax Officer, Ward 2, Pandharpur

In the result, the appeal filed by the assessee in ITA

ITA 421/PUN/2023[2020-21]Status: DisposedITAT Pune10 Jul 2023AY 2020-21

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita Nos.420 & 421/Pun/2023 िनधा"रण वष" / Assessment Years : 2018-19 & 2020-21 Shecospin Employees Coop. Vs. Ito, Ward-2, Credit Society Ltd., Pandharpur. Soot Girni Campus, Miraj Pandharpur Road, At & Post Taluka Sangola, Dist. Solapur- 413307. Pan : Aaeas4895A Appellant Respondent Assessee By : None Revenue By : Shri Rajesh Gawali Date Of Hearing : 21.06.2023 Date Of Pronouncement : 10.07.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Assessee Directed Against The Separate Orders Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 20.02.2023 & 01.03.2023 For The Assessment Years 2018-19 & 2020-21 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.420/Pun/2023 For The Assessment Year 2018-19 Are Stated Herein.

For Appellant: NoneFor Respondent: Shri Rajesh Gawali
Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA Nos.420 & 421/PUN/2023 िनधा"रण वष" / Assessment Years : 2018-19 & 2020-21 Shecospin Employees Coop. Vs. ITO, Ward-2, Credit Society Ltd., Pandharpur. Soot Girni Campus, Miraj Pandharpur Road, At & Post Taluka Sangola, Dist. Solapur- 413307. PAN : AAEAS4895A Appellant Respondent Assessee by : None Revenue by : Shri Rajesh Gawali Date of hearing : 21.06.2023 Date of pronouncement : 10.07.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against…

Shecospin Employees Coop. Credit Society Ltd., Solapur vs. The Income Tax Officer, Ward 2, Pandharpur

In the result, the appeal filed by the assessee in ITA

ITA 420/PUN/2023[2018-19]Status: DisposedITAT Pune10 Jul 2023AY 2018-19

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita Nos.420 & 421/Pun/2023 िनधा"रण वष" / Assessment Years : 2018-19 & 2020-21 Shecospin Employees Coop. Vs. Ito, Ward-2, Credit Society Ltd., Pandharpur. Soot Girni Campus, Miraj Pandharpur Road, At & Post Taluka Sangola, Dist. Solapur- 413307. Pan : Aaeas4895A Appellant Respondent Assessee By : None Revenue By : Shri Rajesh Gawali Date Of Hearing : 21.06.2023 Date Of Pronouncement : 10.07.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Assessee Directed Against The Separate Orders Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 20.02.2023 & 01.03.2023 For The Assessment Years 2018-19 & 2020-21 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.420/Pun/2023 For The Assessment Year 2018-19 Are Stated Herein.

For Appellant: NoneFor Respondent: Shri Rajesh Gawali
Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA Nos.420 & 421/PUN/2023 िनधा"रण वष" / Assessment Years : 2018-19 & 2020-21 Shecospin Employees Coop. Vs. ITO, Ward-2, Credit Society Ltd., Pandharpur. Soot Girni Campus, Miraj Pandharpur Road, At & Post Taluka Sangola, Dist. Solapur- 413307. PAN : AAEAS4895A Appellant Respondent Assessee by : None Revenue by : Shri Rajesh Gawali Date of hearing : 21.06.2023 Date of pronouncement : 10.07.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against…

The Kot Ram Dass Coop. Thirft & Credit Society Limited, Jalandhar vs. Income Tax Officer Ward-2 (4), Jalandhar

In the result, appeal of the assessee ITA No

ITA 86/ASR/2021[2017-18]Status: DisposedITAT Amritsar13 Jun 2023AY 2017-18

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.86/Asr/2021 Assessment Year: 2017-18

Section 142(1)Section 143(3)Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No.86/Asr/2021 Assessment Year: 2017-18 The Kot Ram Dass Coop. Thrift Vs. ITO-Ward 2(4) & Credit Society Ltd. Jalandhar. Jalandhar. [PAN:-AADAT9787B] (Appellant) (Respondent) Appellant by Sh. J. S. Bhasin, Adv. Respondent by Sh. Nakul Aggarwal, Sr. DR 07.06.2023 Date of Hearing Date of Pronouncement 13.06.2023 ORDER Per:Anikesh Banerjee, JM: The instant appeal of the assessee was filed against the order of the ld. Commissioner of Income Tax (Appeals), NFA…

Urulikanchan Gramin Bigarshety Sahakari Patsanstha Maryadit, Pune vs. The Income Tax Officer, Ward-14(3), Pune

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

ITA 554/PUN/2023[2018-19]Status: HeardITAT Pune26 May 2023AY 2018-19

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.554/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Urulikanchan Gramin Vs. Ito, Ward-14(3), Pune. Bigarshety Sahakari Patsanstha Maryadit, At & Post Urulikanchan, Taluka- Haveli, Urulikanchan, Pune- 412202. Pan : Aaaau0866D Appellant Respondent Assessee By : None Revenue By : Shri Piyush Kumar Singh Yadav Date Of Hearing : 25.05.2023 Date Of Pronouncement : 26.05.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 09.03.2023 For The Assessment Year 2018-19. 2. Briefly, The Facts Of The Case Are That The Appellant Is A Co- Operative Society Registered Under The Provisions Of The Maharashtra

For Appellant: NoneFor Respondent: Shri Piyush Kumar Singh Yadav
Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.554/PUN/2023 िनधा"रण वष" / Assessment Year : 2018-19 Urulikanchan Gramin Vs. ITO, Ward-14(3), Pune. Bigarshety Sahakari Patsanstha Maryadit, At and Post Urulikanchan, Taluka- Haveli, Urulikanchan, Pune- 412202. PAN : AAAAU0866D Appellant Respondent Assessee by : None Revenue by : Shri Piyush Kumar Singh Yadav Date of hearing : 25.05.2023 Date of pronouncement : 26.05.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the Na…

Kai Fakira Jairam Patil Sahakari Patsanstha Maryadit Shahada, Nandurbar vs. Invcome Tax Officer Ward-1, Dhule

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

ITA 553/PUN/2023[2020-21]Status: DisposedITAT Pune25 May 2023AY 2020-21
For Appellant: Adjournment application rejectedFor Respondent: Shri Ramnath P. Murkunde
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.553/PUN/2023 िनधा"रण वष" / Assessment Year : 2020-21 Kai Fakira Jairam Patil Vs. ITO, Ward-1, Dhule. Sahakari Patsanstha Maryadit Shahada, Plot No.5A, Vrindavan Nagar, Besides Swami Samaratha Kendra, Shahada Tal. Shahada, Dist. Nandurbar- 425409 PAN : AAAAK5870D Appellant Respondent Assessee by : Adjournment application rejected Revenue by : Shri Ramnath P. Murkunde Date of hearing : 23.05.2023 Date of pronouncement : 25.05.2023 आदेश / ORDER PER IN…

Satpuda Urban Credit Co- Opt Society Ltd, Jalgaon vs. Income Tax Officer, Ward-1(4), Jalgaon

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

ITA 531/PUN/2023[2018-19]Status: DisposedITAT Pune25 May 2023AY 2018-19

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.531/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Satpuda Urban Credit Vs. Ito, Ward-1(4), Co-Op. Society Ltd., Jalgaon. At Post: Faizpur, Tal- Yawal, Dist.- Jalgaon- 425503 Pan : Aaals0467P Appellant Respondent Assessee By : None Revenue By : Shri Piyush Kumar Singh Yadav Date Of Hearing : 24.05.2023 Date Of Pronouncement : 25.05.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 31.03.2023 For The Assessment Year 2018-19. 2. Briefly, The Facts Of The Case Are That The Appellant Is A Co- Operative Society Registered Under The Provisions Of The Maharashtra

For Appellant: NoneFor Respondent: Shri Piyush Kumar Singh Yadav
Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.531/PUN/2023 िनधा"रण वष" / Assessment Year : 2018-19 Satpuda Urban Credit Vs. ITO, Ward-1(4), Co-op. Society Ltd., Jalgaon. At Post: Faizpur, Tal- Yawal, Dist.- Jalgaon- 425503 PAN : AAALS0467P Appellant Respondent Assessee by : None Revenue by : Shri Piyush Kumar Singh Yadav Date of hearing : 24.05.2023 Date of pronouncement : 25.05.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the National Faceless Appeal Centre, Del…

M/S. University of Agricultural Employees House Building Co-Operative Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 6(3)(1), Bangalore

In the result, the appeal filed by assessee stands allowed

ITA 319/BANG/2023[2016-17]Status: DisposedITAT Bangalore18 May 2023AY 2016-17

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

For Appellant: Shri P.R. Suresh, CAFor Respondent: Advocate-Standing Counsel for Dept
Section 57Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC-‘A’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2016-17 M/s. University of Agricultural Employees House The Assistant Building Co-op Society Commissioner of Ltd., Income Tax, Hebbal, Circle – 6(3)(1), Bengaluru North, Vs. Bangalore. Bangalore – 560 024. PAN: AAAAU3878K APPELLANT RESPONDENT Assessee by : Shri P.R. Suresh, CA Shri Ganesh R. Ghale, Revenue by : Advocate-Standing Counsel for Dept. Date of Hearing : 18-05-2023 Date of Pronouncement : 18-05-2023 ORDER PER BEENA PILLAI, JUDICIAL MEM…

Sharanabasaveshwar Credit Souhard Sahakri Ni Halingali, Bagalkot vs. Assistant Commissioner of Income-Tax, Circle-1, Bijapur

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

ITA 107/BANG/2023[2018-19]Status: DisposedITAT Bangalore17 May 2023AY 2018-19
For Appellant: Shri Veeranna M. Murgod, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC – B” BENCH : BANGALORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment year : 2018-19 Shree Sharanabasaveshwar Credit Vs. The Income Tax Officer, Souhard Sahakari Ni., National e-Assessment Centre, A/P Halingali – 587 315. Delhi. Tal: Jamkhandi, Dist. Bagalkot. PAN: AAEAS 6699C APPELLANT RESPONDENT Appellant by : Shri Veeranna M. Murgod, CA Respondent by : Shri Ganesh R. Ghale, Standing Counsel. Date of hearing : 24.04.2023 Date of Pronouncement : 17.05.2023 O R D E R This appeal is filed by the assessee against the order of the CIT(Appeals), National Faceless…

Sangam Co-Op Credit Society, Bagalkot vs. Income-Tax Officer Ward-2, Bagalkot

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

ITA 69/BANG/2023[2020-21]Status: DisposedITAT Bangalore12 May 2023AY 2020-21
For Appellant: Shri Ashok Mudnur, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC “C” BENCH : BANGALORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 68 & 69/Bang/2023 Assessment years : 2018-19 & 2020-21 Sangam Coop. Credit Society Ltd., Vs. The Assessing Officer, 100, Post. Rampur. 587 314. National e-assessment Centre, Taluk Rabkavi- Banhatti, Delhi / Dist. Bagalkot. The ITO, Ward 1 & TPS, PAN: AAAAS 7031E Bagalkot. APPELLANT RESPONDENT Appellant by : Shri Ashok Mudnur, CA Respondent by : Shri Ganesh R. Ghale, Standing Counsel. Date of hearing : 24.04.2023 Date of Pronouncement : 12.05.2023 O R D E R These two appeals are by the assessee aga…

Sangam Co-Op Credit Society, Bagalkot vs. Income-Tax Officer Ward 1& Tps, Bagalkot

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

ITA 68/BANG/2023[2018-19]Status: DisposedITAT Bangalore12 May 2023AY 2018-19
For Appellant: Shri Ashok Mudnur, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 56Section 57Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC “C” BENCH : BANGALORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 68 & 69/Bang/2023 Assessment years : 2018-19 & 2020-21 Sangam Coop. Credit Society Ltd., Vs. The Assessing Officer, 100, Post. Rampur. 587 314. National e-assessment Centre, Taluk Rabkavi- Banhatti, Delhi / Dist. Bagalkot. The ITO, Ward 1 & TPS, PAN: AAAAS 7031E Bagalkot. APPELLANT RESPONDENT Appellant by : Shri Ashok Mudnur, CA Respondent by : Shri Ganesh R. Ghale, Standing Counsel. Date of hearing : 24.04.2023 Date of Pronouncement : 12.05.2023 O R D E R These two appeals are by the assessee aga…

M/S Shiragao Prathamik Krishi Pattin Sahakari Bank Niyamit, Belagavi vs. Income Tax Officer, Ward - 1(3), Belagavi

The appeals of the assessee are allowed

ITA 8/PAN/2019[2012-13]Status: DisposedITAT Panaji25 Jan 2023AY 2012-13

Bench: Shri Satbeer Singh Godara

For Appellant: Shri S. Gadadi, C.AFor Respondent: Shri N. Shrikant
Section 143(3)Section 80PSection 80P(2)(d)Section 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI ‘SMC’ BENCH : PANAJI (THROUGH VIRTUAL HEARING) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER ITA.No.8/PAN/2019 Assessment Year 2012-2013 M/s. Shiragao Prathamik Krishi Pattin Sahakri Bank The Income Tax Officer, Niyamit, Shiragao No.1, Tq. Ward-1(3), Belagavi. vs., Hukkeri, Dist. Belagavi. Karnataka. PIN 590 001. Karnataka. PIN 591 309 PAN AABAS7301N (Appellant) (Respondent) For Assessee : Shri S. Gadadi, C.A. For Revenue : Shri N. Shrikant Date of Hearing : 16.01.2023 Date of Pronouncement : 25.01.2023 ORDER This assessee’s appeal for assessment year 2012- 13, ari…

The Bbr & Rdcc Employess Co-Operative Society Limited, Banghalore vs. Income Tax Officer, Ward-5(2)(4), Bangalore

ITA 989/BANG/2022[2015-16]Status: DisposedITAT Bangalore28 Dec 2022AY 2015-16

Bench: Shri Chandra Poojariassessment Year: 2015-16

For Appellant: Shri Girish T.L., A.RFor Respondent: Shri Ganesh R. Gale, Standing Counsel for Department
Section 143(3)Section 80(2)(a)Section 80PSection 80P(2)(a)Section 80P(4)

…ITA Nos.2752 & 2753/Bang/2017 AY 2011-12 & AY 2012-13, where Totagars Co operative Sale Society decision of High Court of Karnataka is distinguished and followed the decision of Hon'ble High Court decision of Tumkur Merchants Souharda Credit Co Operative Ltd (55 Taxmann.com 447). b) In the case of Bilur Gurubasava Pattina Sahakari Sangha Niyamit Bagalkot In ITA No.5006/2016 dated 05.02.2014. 5. Without prejudice, the CIT(A) and AO erred in not allowing the expenditure incurred in earning the interest on deposits which ought to be allowed as expenditure following the decision of the Jurisdictional High Court in t…

Sada Urban Co-Operative Credit Society Limited, Vasco vs. Income Tax Officer, Ward - 2(5), Panaji

Appeals are allowed in above terms

ITA 227/PAN/2019[2016-17]Status: DisposedITAT Panaji23 Dec 2022AY 2016-17

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Peter DsouzaFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH “SMC” : PANAJI [THROUGH VIRTUAL HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.Nos.226 & 227/PAN./2019 Assessment Years 2015-16 & 2016-17 Sada Urban Co-Operative Credit Society Ltd., 24, The Income Tax Officer, Near Prince Bakery, Head vs Ward – 2 (5), Pundalik Land Sada, Vasco-da- Niwas, Rue-de-Ourem, Gama, Goa – 403 802. Panaji, Goa - 403001 PAN AACFT6071A Appellant Respondent Assessee by : Shri Peter Dsouza Revenue by : Smt. Neelima Nadkarni, Sr.DR Date of hearing : 29.11.2022 Date of pronouncement : 28.12.2022 ORDER These assessee’s twin a…

Sada Urban Co-Operative Credit Society Limited, Vasco vs. Income Tax Officer, Ward - 2(5), Panaji

Appeals are allowed in above terms

ITA 226/PAN/2019[2015-16]Status: DisposedITAT Panaji23 Dec 2022AY 2015-16

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Peter DsouzaFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH “SMC” : PANAJI [THROUGH VIRTUAL HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.Nos.226 & 227/PAN./2019 Assessment Years 2015-16 & 2016-17 Sada Urban Co-Operative Credit Society Ltd., 24, The Income Tax Officer, Near Prince Bakery, Head vs Ward – 2 (5), Pundalik Land Sada, Vasco-da- Niwas, Rue-de-Ourem, Gama, Goa – 403 802. Panaji, Goa - 403001 PAN AACFT6071A Appellant Respondent Assessee by : Shri Peter Dsouza Revenue by : Smt. Neelima Nadkarni, Sr.DR Date of hearing : 29.11.2022 Date of pronouncement : 28.12.2022 ORDER These assessee’s twin a…

Primary Agricultural Credit Co-Operative Bank Limited, Belgavi vs. Income Tax Officer, Ward - 1(4), Belgavi

Appeal is allowed in above terms

ITA 193/PAN/2019[2015-16]Status: DisposedITAT Panaji23 Dec 2022AY 2015-16

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Chetan ChouguleFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH “SMC” : PANAJI [THROUGH VIRTUAL HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.193/PAN/2019 Assessment Year 2015-16 Primary Agricultural Credit Co-Operative Bank Ltd., The Income Tax Officer, [Prathamik Krishi Pattina Ward – 1 (4), Feroj Sahakari Sangh Khimjibhai Complex, Nandagaon Ltd.] At Post : Opp. Civil Hospital, Dr. Nandagoan. Tal. Athani. vs Ambedkar Road, Dist. Belagavi. Belagavi. Karnataka. Karnataka. PIN 591 304 PIN 590 001. PAN AAAA0238N Appellant Respondent Assessee by : Shri Chetan Chougule Revenue by : Smt. Neelima Nadkarni, Sr.…

The Ponda Education Society Employee Co-Operative Credit Society Limited, Ponda vs. Income Tax Officer, Ward - 2(2), Panaji

Appeal is allowed in above terms

ITA 132/PAN/2019[2015-16]Status: DisposedITAT Panaji23 Dec 2022AY 2015-16

Bench: Shri Satbeer Singh Godara

For Appellant: Shri S.J. KamatFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH “SMC” : PANAJI [THROUGH VIRTUAL HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.132/PAN/2019 Assessment Year 2015-16 The Ponda Education The Income Tax Officer, Society Employee Co-operative Credit Society Ward – 2 (2), Aaykar vs Ltd., Farmgudi, Near PES Bhavan, Pato Plaza, College, Ponda Goa. Panaji, Goa. Goa – 403 401 PIN 403 001 PAN AABAT4583D Appellant Respondent Assessee by : Shri S.J. Kamat Revenue by : Smt. Neelima Nadkarni, Sr.DR Date of hearing : 29.11.2022 Date of pronouncement : 28.12.2022 ORDER This assessee’s appeal for Assessme…

The Belgaum Coal and Coke Consumer Co-Operative Association Limited, Belgavi vs. Income Tax Officer, Ward - 1(1), Belgavi

Appeal is allowed in above terms

ITA 66/PAN/2019[2014-15]Status: DisposedITAT Panaji19 Dec 2022AY 2014-15

Bench: Shri Satbeer Singh Godara

For Appellant: Shri Shivanand HalbhaviFor Respondent: Smt. Neelima Nadkarni, Sr.DR
Section 143(3)Section 2(19)Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH “SMC” : PANAJI [THROUGH VIRTUAL HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.66/PAN/2019 Assessment Year 2014-15 The Belgaum Coal and The Income Tax Officer, Coke Consumer Ward – 1 (1), Feroj Cooperative Association Khimjibhai Complex, Opp Limited, Khanapur Road, Civil Hospital, Dr. Udyambag, Ambedkar Road, vs Belagavi - 590 008 Belagavi 590 001 PAN AAAAT4615M Karnataka. State of Karnataka Appellant Respondent Assessee by : Shri Shivanand Halbhavi Revenue by : Smt. Neelima Nadkarni, Sr.DR Date of hearing : 29.11.2022 Date of pronouncement :…