Udaipur Sahakari Upbhokta Thok Bhandar Ltd. v. CIT

The Sri Gowri Cooperative Society, Visakhapatnam vs. Principal Commissioner of Income Tax-1, Visakhapatnam

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Sri Gowri Vs. Pr.Cit-1, Co-Operative Society, Visakhapatnam. D.No.49-34-32/1, Konathala Complex, Akkayyapalem Main Road, Visakhapatnam. Pan No. Aaaat 8140 M (Appellant) (Respondent)

…ndum of association, the articles of association and the returns of income filed by the assessee had not been examined by the Tribunal on facts. (M/s. The Sri Gowri Co-op. Society) 18. In Udaipur Sahkari Upbhokta Thok Bhandar Ltd. v. CIT [2009] 182/Taxman 287/315 ITR 21 (SC), the issue that arose for consideration actually revolved around section 80P(2)(a)(i)(2)(e) and not around section 80P(2)(a)(i). The assessee in that case was running a consumer co-operative store and was also involved in the distribution of controlled commodities such as wheat, sugar, rice and cloth on behalf of the Government under the Publ…

Sri Uma Kamandaleswara Co - Operative Rural Bank Ltd., Athreyapuram vs. The Addl. CIT, Kakinada

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Blesri Uma Kamandaleswara Vs. Addl.Cit, Kakinada Co-Op Rural Bank Ltd., Ryali, Range, Kakinada. Athreyapuram Mandalm, East Godavari District. Pan No. Aadas 4663 B (Appellant) (Respondent)

…in view of the fact that the memorandum of association, the articles of association and the returns of income filed by the assessee had not been examined by the Tribunal on facts. 18. In Udaipur Sahkari Upbhokta Thok Bhandar Ltd. v. CIT [2009] 182/Taxman 287/315 ITR 21 (SC), the issue that arose for consideration actually revolved around section 80P(2)(a)(i)(2)(e) and not around section 80P(2)(a)(i). The assessee in that case was running a consumer co-operative store and was also involved in the distribution of controlled commodities such as wheat, sugar, rice and cloth on behalf of the Government under the Publ…

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

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

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

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

DCIT, Circle-4(1), Bhubaneswar vs. M/S. the Orissa State Handloom Weavers Cooperative Society Limited, Bhubaneswar

In the result, appeal of the Revenue i

…h in the Orissa State Handlooms Weavers Co-operative Society Ltd. in ITA No.184/CTK/2007 for the AY 2003-04, when the same has been overruled by the decision of the Hon‟ble Apex Court in the case of Udayapur Sahakari Upabhokta Thok Bhandar Ltd. Vs. CIT (2009) 182 Taxmann 287. 3. Brief facts of the case are that the assessee is an AOP registered under the Cooperative Societies Act, 1951 and dealing with trading and marketing of handloom items and filed its return of income electronically on 24.09.2013 for the assessment year 2013-2014 as Rs.Nil. CO No.23&24/CTK/2018 Subsequently, the case was selected for scrutiny…

DCIT, Circle-4(1), Bhubaneswar vs. M/S. the Orissa State Handloom Weavers Cooperative Society Limited, Bhubaneswar

In the result, appeal of the Revenue i

…h in the Orissa State Handlooms Weavers Co-operative Society Ltd. in ITA No.184/CTK/2007 for the AY 2003-04, when the same has been overruled by the decision of the Hon‟ble Apex Court in the case of Udayapur Sahakari Upabhokta Thok Bhandar Ltd. Vs. CIT (2009) 182 Taxmann 287. 3. Brief facts of the case are that the assessee is an AOP registered under the Cooperative Societies Act, 1951 and dealing with trading and marketing of handloom items and filed its return of income electronically on 24.09.2013 for the assessment year 2013-2014 as Rs.Nil. CO No.23&24/CTK/2018 Subsequently, the case was selected for scrutiny…

DCIT, Circle-4(1), Bhubaneswar vs. M/S. the Orissa State Tassar & Silk Cooperative Society Ltd., Bhubaneswar

In the result, appeal of the Revenue i

…h in the Orissa State Handlooms Weavers Co-operative Society Ltd. in ITA No.184/CTK/2007 for the AY 2003-04, when the same has been overruled by the decision of the Hon‟ble Apex Court in the case of Udayapur Sahakari Upabhokta Thok Bhandar Ltd. Vs. CIT (2009) 182 Taxmann 287. 3. Brief facts of the case are that the assessee is engaged in business of development of sericulture industry in Odisha on a cooperative basis and filed its return of income electronically on 22.09.2013 for the assessment year 2013-2014 Rs.Nil. Subsequently, the case was selected CO No.21&22/CTK/2018 for scrutiny and notice u/s.143(2) & 142…

DCIT, Circle-4(1), Bhubaneswar vs. M/S. the Orissa State Tassar & Silk Cooperative Society Ltd., Bhubaneswar

In the result, appeal of the Revenue i

…h in the Orissa State Handlooms Weavers Co-operative Society Ltd. in ITA No.184/CTK/2007 for the AY 2003-04, when the same has been overruled by the decision of the Hon‟ble Apex Court in the case of Udayapur Sahakari Upabhokta Thok Bhandar Ltd. Vs. CIT (2009) 182 Taxmann 287. 3. Brief facts of the case are that the assessee is engaged in business of development of sericulture industry in Odisha on a cooperative basis and filed its return of income electronically on 22.09.2013 for the assessment year 2013-2014 Rs.Nil. Subsequently, the case was selected CO No.21&22/CTK/2018 for scrutiny and notice u/s.143(2) & 142…

Orissa State Co-Operative Handicrafts Corporation Ltd., Bhubaneswar vs. DCIT, Circle-4(1), Bhubaneswar

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri N.S Sainiassessment Year : 2012-2013

…IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK ‘SMC’ BENCH, CUTTACK BEFORE SHRI N.S SAINI, ACCOUNTANT MEMBER Assessment Year : 2012-2013 Orissa State Co-operative Vs. DCIT, Circle 4(1), Handicrafts Corporation Bhubaneswar Limited, D-2/3, Industrial Estate, Rasulgarh. PAN/GIR No. AAAAO 0096 K (Appellant) .. ( Respondent) Assessee by : Shri Biswa Ranjan Patnaik, AR Revenue by : Shri D.K.Pradhan, DR Date of Hearing : 24 /05/ 2017 Date of Pronouncement : 31/05/ 2017 O R D E R This is an appeal filed by the assessee against the order of CIT(A)— 2, Bhubaneswar, dated 30.11.2016, for the assessment year 2012-13. 2…