Vaveru Co-operative Rural Bank Ltd. v. CIT

396 ITR 371High Court2017#262 most cited
299

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2018 to 2026.

Also referred to as

Vaveru Co-operative Rural Bank Ltd. v. CIT · Section 80P · 80P(2)(a) · 80P(2)(d) · 80P(4) · co-operative society deduction · income of co-operative bank · rejection of Revenue stand · assessee favorable · income-tax deduction

Sections most often in play

Section 80P(2)(a)(i)Section 80P(2)(d)Section 80PSection 143(3)Section 250Section 80P(4)Section 263Section 2(19)

Issues it is cited on

section 57(i)section 80(p)(2)(a)section 80(2)(d)section 286section 161section 80p(2)(c)section 63section 64section 60section 80p(2)(a)(iii)section 80p(2)(a)section 80(p)(2)

Judgments citing Vaveru Co-operative Rural Bank Ltd. v. CIT

Shri Vitthal Sahakari Sakhar Karkhana Sevkanchi Sahakari Patsantha, Solapur vs. Principal Commissioner of Income Tax, Pune-4, Pune

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

ITA 598/PUN/2023[2018-19]Status: DisposedITAT Pune11 Jul 2023AY 2018-19

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhurysl.

For Appellant: Shri Pramod S. Shingte (Sl. No.1)
Section 143(3)Section 263Section 80P(2)(a)

…ataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann.com 309 (Kar.) and the Hon’ble Telangana and the Hon’ble Andhra Pradesh High Court in the case of Vaveru Co- operative Rural Bank Ltd. vs. CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Yeshwantrao Chavan Gbs, Pune vs. Income Tax Officer, Wrd-10(5), Pune

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

ITA 698/PUN/2023[2017-18]Status: DisposedITAT Pune10 Jul 2023AY 2017-18

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.698/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Yeshwantrao Chavan Gbs, Vs. Ito, Ward-10(5), Pune. Near Post Office Belhe, At & Post Belhe, Pune, Tal. Junnar- 412410. Pan : Aaaaa0697A Appellant Respondent Assessee By : Shri Pramod S. Shingte Revenue By : Shri Rajesh Gawali Date Of Hearing : 20.06.2023 Date Of Pronouncement : 10.07.2023 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 01.03.2023 For The Assessment Year 2017-18. 2. Briefly, The Facts Of The Case Are That The Appellant Is A Cooperative Society Registered Under The Provisions Of Maharashtra Co-Operative Societies Act, 1960. It Is Engaged In The Business Of Accepting Deposits From Its Members & Providing Credit Facilities

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Rajesh Gawali
Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…le Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann.com 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

The Nlg District Judicial Employees Mutually Aided Co-Operative Credit Society Limited Nlg, Nalgonda vs. ITO, Ward-1, Nalgonda

In the result, the appeal of assessee is allowed

ITA 311/HYD/2023[2016-17]Status: DisposedITAT Hyderabad22 Jun 2023AY 2016-17

Bench: Shri K.Narasimha Chary

For Appellant: Smt. S. Sandhya, ARFor Respondent: Shri Waseem UR Rehman, DR
Section 80P(2)(a)

…ide. Facts are not in dispute. The decision of the Hon’ble Apex Court in the case of Totgars Co-operative Sale Society Ltd. (supra), is explained by the Hon’ble jurisdictional High Court in the case of The Vavveru Co-operative Rural Bank Ltd. vs. CCIT (2017) [396 ITR 371] (AP), while dealing with the allowability of the interest derived by co- operative societies from out of the investments if any, made. The Hon’ble court observed that, “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 agricult…

Jankalyan Nagari Sahakari Patsanstha Ltd, Satara vs. Income Tax Officer, Ward-1, Satara

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

ITA 569/PUN/2023[2017-18]Status: DisposedITAT Pune29 May 2023AY 2017-18

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.569/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Jankalyan Nagari Sahakari Vs. Ito, Ward-1, Satara. Patsanstha Ltd., 67, Guruwar Peth, At Post Karad, Dist.- Satara- 415110. Pan : Aaaaj1374R Appellant Respondent Assessee By : None Revenue By : Shri Piyush Kumar Singh Yadav Date Of Hearing : 26.05.2023 Date Of Pronouncement : 29.05.2023 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 29.03.2023 For The Assessment Year 2017-18. 2. Briefly, The Facts Of The Case Are That The Appellant Is A Co- Operative Credit Society Registered Under Maharashtra Co-Operative Societies Act, 1960. The Return Of Income For The Assessment Year

For Appellant: NoneFor Respondent: Shri Piyush Kumar Singh Yadav
Section 143(3)Section 80P(2)(a)

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

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

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.552/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 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 : 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 24.03.2023 For The Assessment Year 2018-19. 2 2. Briefly, The Facts Of The Case Are That The Appellant Is A Co- Operative Credit Society Registered Under Maharashtra Co-Operative Societies Act, 1960. The Return Of Income For The Assessment Year 2018-19 Was Filed On 08.09.2018 Disclosing Total Income Of Rs.Nil After Claiming Deduction U/S 80P(2)(A)(I) Of The Income Tax Act, 1961 (‘The Act’) Of Rs.78,15,971/-. Against The Said Return Of Income, The Assessment Was Completed By The Assessing Officer Vide Order Dated 15.02.2021 Passed U/S 143(3) R.W.S. 143(3A) & 143(3B) Of The Act At A Total Income Of Rs.42,09,784/-. While Doing So, The Assessing Officer Denied The Exemption U/S 80P(2)(A)(I) In Respect Of Interest Income On Deposits Made Out Of The Surplus Funds In Cooperative Banks & Scheduled Banks On The Ground That The Said Income Does Not Qualify For Deduction U/S 80P(2)(A)(I) Or 80P(2)(D) Of The Act. 3. Being Aggrieved, An Appeal Was Filed Before The Nfac, Who Vide Impugned Order Confirmed The Addition Made By The Assessing Officer. 4. Being Aggrieved, The Appellant Is In Appeal Before This Tribunal In The Present Appeal.

For Appellant: NoneFor Respondent: Shri Piyush Kumar Singh Yadav
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

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 551/PUN/2023[2017-18]Status: HeardITAT Pune26 May 2023AY 2017-18

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.551/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 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 : None Revenue By : Shri Piyush Kumar Singh Yadav Date Of Hearing : 24.05.2023 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 24.03.2023 For The Assessment Year 2017-18. 2 2. Briefly, The Facts Of The Case Are That The Appellant Is A Co- Operative Credit Society Registered Under Maharashtra Co-Operative Societies Act, 1960. The Return Of Income For The Assessment Year 2017-18 Was Filed On 10.10.2017 Disclosing Total Income Of Rs.Nil After Claiming Deduction U/S 80P(2)(A)(I) Of The Income Tax Act, 1961 (‘The Act’) Of Rs.73,98,124/-. Against The Said Return Of Income, The Assessment Was Completed By The Assessing Officer Vide Order Dated 31.10.2019 Passed U/S 143(3) Of The Act At A Total Income Of Rs.44,57,088/-. While Doing So, The Assessing Officer Denied The Exemption U/S 80P(2)(A)(I) In Respect Of Interest Income On Deposits Made Out Of The Surplus Funds In Cooperative Banks & Scheduled Banks On The Ground That The Said Income Does Not Qualify For Deduction U/S 80P(2)(A)(I) Or 80P(2)(D) Of The Act. 3. Being Aggrieved, An Appeal Was Filed Before The Nfac, Who Vide Impugned Order Confirmed The Addition Made By The Assessing Officer. 4. Being Aggrieved, The Appellant Is In Appeal Before This Tribunal In The Present Appeal.

For Appellant: NoneFor Respondent: Shri Piyush Kumar Singh Yadav
Section 143(3)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.551/PUN/2023 िनधा"रण वष" / Assessment Year : 2017-18 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 : None Revenue by : Shri Piyush Kumar Singh Yadav Date of hearing : 24.05.2023 Date of pronouncement : 26.05.2023 आदेश / ORDER PER INTURI RAMA RAO, AM : This is an appeal filed by the assessee…

Kesha vs. Mruti Nagari Sahakari Patpedhi Ltd, Pamvel

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

ITA 504/PUN/2023[2017-18]Status: DisposedITAT Pune23 May 2023AY 2017-18

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Kamal Nagari Sahakari Patsanstha Ltd, Alibag vs. The Principal Commissioner of Income Tax-1, Thane

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

ITA 503/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Kamal Mahila Nagari S P M., Panvel vs. The Principal Commissioner of Income Tax-1, Thane

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

ITA 502/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Shree Kedareshwar Nagari Sahakar Patsanstha Maryadit, Pune vs. The Principal Commissioner of Income Tax, Pune-4, Pune

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

ITA 496/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Jay Bajarang Gram Bigarsheti Sah Patsanstha Maryadit, Pune vs. Principal Commissioner of Income Tax-3, Pune

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

ITA 491/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Ichalkaranji Vyapari Sahakari Patsanstha Ltd, Ichalkaranji vs. Income Tax Officer, Ward-1, Ichalkaranji

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

ITA 477/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Shree Choudeshwari Togatveer Kshatriya Nagari Sahakari Patpedhi Maryadit, Solapur vs. Principal Commissioner of Income Tax, Pune-4, Pune

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

ITA 475/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Kirkee Cantonment Board Employees Credit Cooperative Society Ltd, Pune vs. Principal Commissioner of Income Tax, Pune-2, Pune

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

ITA 460/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Jijamata Mahila Nagari Bigarsheti Sahakari Patsanstha Maryadit, Solapur vs. Principal Commissioner of Income Tax-4, Pune

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

ITA 450/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Daund Talluka Prathamik Shikshak Sahakari Phatsanstha Maryadit, Pune vs. The Principal Commissioner of Income Tax - 4, Pune

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

ITA 426/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Issk Employees Credit Co-Operative Society Limited, Pune vs. The Principal Commissioner of Income Tax -4, Pune

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

ITA 388/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

B.G.Shirke Employees Cooperative Credit Society Limited, Pune vs. Principal Commissioner of Income Tax, Pune-4, Pune

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

ITA 358/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Ambegaon Taluka Prathamik Shiksahak Sahakari Patsanstha, Maryadit, Pune vs. Principal Commissioner of Income Ta, Pune-3, Pune

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

ITA 353/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…

Kalibhairavnath Gramin Bigarsheti Sahakari Pat Sanstha Maryadit, Pune vs. Principal Commissioner of Income Tax-4, Pune

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

ITA 346/PUN/2023[2018-19]Status: DisposedITAT Pune23 May 2023AY 2018-19

Bench: Shri S. S. Godara & Shri Inturi Rama Raosl.

…on’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) and the Hon’ble Telangana and Hon’ble Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 took a view that such interest income is attributable to the activities of the society and, therefore, eligible for exemption u/s 80P(2)(a)(i) of the Act. Similar view has been taken by the Hon’ble Calcutta High Court in the case of PCIT vs. Gunja Samabay Krishi Unnayan Samity Ltd., 147 taxmann.com 518 (Calcutta) and the Hon’ble Madras High Court…