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 366,470 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 80P Section 143(3)Section 250 Section 80P(4)Section 263 Section 2(19)

Issues it is cited on

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

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

DCIT, New Delhi vs. M/S Jubilant Enpor Pvt. Ltd., Noida

ITA 3408/DEL/2011[2007-08]Status: DisposedITAT Delhi28 Feb 2025AY 2007-08

Bench: Sh. Satbeer Singh Godara & Sh. Naveen Chandra

For Appellant: Ms. Gurneet Kaur, AdvFor Respondent: Sh. Manish Gupta, Sr. DR

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

…a also quotes (2025) 170 taxmann.com 336 (Gujarat) Brahmarshi Co-op. Credit Society Ltd. Vs. ACIT deciding the very issue in the Revenue’s favour. The assessee on the other hand draws strong support from the Vaveru Co-operative Rural Bank Ltd. vs. CIT [(2017) 396 ITR 371 (AP)] wherein their lordships have rejected the Revenue’s identical stand. Be that as it may, the fact remains that no valuable guidance has come from hon’‘ble jurisdictional high court at Allahabad on the 3 ITA Nos. 3407 & 3408/Del/2024 Secretary, Co-operative Cane Development Union Ltd. instant issue. That being the case, we hereby’ quote Co…

Sri Lakshmi Venkateswara Mutually Aided Cooperative Society Limited, Visakhapatnam vs. Income Tax Officer, Ward-1(1), Visakhapatnam

ITA 140/VIZ/2024[2018-19]Status: DisposedITAT Visakhapatnam20 Feb 2025AY 2018-19

Bench: Shri K. Narasimha Chary, Hon'Ble & Shri S Balakrishnan, Hon'Bleआयकर अपीलसं./I.T.A.No. 140/Viz/2024 (निर्धारण वर्ष/ Assessment Year: 2018-19) Sri Lakshmi Venkateswara Mutually Aided Cooperative Society Limited D.No. 49-12-33 Lalitha Temple Street Lalitha Nagar, Akkayyapalem Visakhapatnam – 530016 Andhra Pradesh [Pan: Aadas2078L] (अपीलार्थी/ Appellant) V. Income Tax Officer – Ward – 1(1) Income Tax Office Pratyakshakar Bhavan Mvp Colony, Visakhapatnam – 530017 Andhra Pradesh (प्रत्यर्थी/ Respondent) करदाता का प्रतिनिधित्व/ Assessee Represented By राजस्व का प्रतिनिधित्व/ Department Represented By सुनवाई समाप्त होने की तिथि/ Date Of Conclusion Of Hearing घोषणा की तारीख/Date Of Pronouncement : Smt A. Aruna, Advocate : Dr. Aparna Villuri, Sr. Ar : 06.02.2025 : 20.02.2025 आदेश /Order Per Shri S Balakrishnan: 1. This Appeal Is Filed By The Assessee Against The Order Of Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [Hereinafter In Short "Ld.Cit(A)"] Vide Din & Order No.

Section 143(3)

…आयकर अपीलीय अधिकरण, विशाखापटणम पीठ, विशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM “SMC” BENCH, VISAKHAPATNAM (HYBRID HEARING) श्री के. नरसिम्हा चारी, न्यायिक सदस्य एवं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI K. NARASIMHA CHARY, HON'BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON'BLE ACCOUNTANT MEMBER आयकर अपीलसं./I.T.A.No. 140/VIZ/2024 (निर्धारण वर्ष/ Assessment Year: 2018-19) Sri Lakshmi Venkateswara Mutually Aided Cooperative Society Limited D.No. 49-12-33 Lalitha Temple Street Lalitha Nagar, Akkayyapalem Visakhapatnam – 530016 Andhra Pradesh [PAN: AADAS2078L] (अपीलार्थी/ Appellant) V…

Shree Mahaveer I. Dhamani Vikas Society Ltd. Inamdhamani, Sangli vs. ITO W 1 Sangli, Sangli

In the result, appeal of the assessee is allowed

ITA 2809/PUN/2024[2021-22]Status: DisposedITAT Pune10 Feb 2025AY 2021-22

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2809/Pun/2024 िनधा"रण वष" / Assessment Year: 2021-22 Shree Mahaveer Dhamani V The Income Tax Officer, Vikas Society Limited, S Ward-1, Sangli. At Post Inamdhamani, Tal Miraj, Distsangli, Sangli – 416416. Pan: Aawas2530G Appellant/ Assessee Respondent / Revenue Assessee By None Revenue By Miss Indira R Adakil – Addl.Cit(Dr) Date Of Hearing 30/01/2025 Date Of Pronouncement 10/02/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] For

Section 10Section 143(3)Section 250Section 56Section 80PSection 80P(2)(a)Section 80P(2)(d)

…the interest earned from Co-operative Banks or not! 4.4.1 This issue has been dealt in various decision of ITAT Pune in favour of assessee. 5. The Hon’ble High Court of Andhra Pradesh and Telangana in the case of Vavveru Co-operative Rural Bank Ltd. [2017] 396 ITR 371 analysed the provisions of Section 80P, succinctly distinguished the decision of Hon’ble Supreme Court in the case of Totagars Cooperative Sale Society, and held as under : Quote,“8. Therefore, the real controversy arising in these writ petitions is as to whether the income derived by the petitioners by way of interest on the fixed deposits made…

Jankalyan Gramin Bigarsheti Sahakari Pathsanstha Maryadit Asond, Ratnagiri vs. Income Tax Officer, Ratnagiri

In the result, appeal of the assessee is allowed

ITA 2721/PUN/2024[AY 2018-19]Status: DisposedITAT Pune27 Jan 2025

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.2721/Pun/2024 िनधा"रण वष" / Assessment Year: 2018-19 Jankalyan Gramin Bigarsheti V The Income Tax Officer, Sahakari Pathsanstha Maryadit, S Ratnagiri. Jankalyan Gramin Coop Soc A/Pasond, Tal-Dapoli, Dapoli, Ratnagiri – 415709. Pan: Aaatj8258P Appellant/ Assessee Respondent / Revenue Assessee By Shri Promod S Shingte – Ar Revenue By Miss. Indira R Adkil – Addl.Cit(Dr) Date Of Hearing 27/01/2025 Date Of Pronouncement 27/01/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tas(Appeals)[Nfac], Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2018-19; Dated 30.09.2024. The Assessee Has Raised The Following Grounds Of Appeal : “1. On The Facts & Circumstances Of The Case & In Law The Cit(A), Nfac Erred In Confirming The Action Of The Ao Of Denying Deduction Under Section 80P In Respect Interest Earned By The

Section 250Section 80PSection 80P(2)Section 80P(2)(a)

…आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE MS.ASTHA CHANDRA, JUDICIAL MEMBER AND DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.2721/PUN/2024 िनधा"रण वष" / Assessment Year: 2018-19 Jankalyan Gramin Bigarsheti V The Income Tax Officer, Sahakari Pathsanstha Maryadit, s Ratnagiri. Jankalyan Gramin Coop Soc A/Pasond, Tal-Dapoli, Dapoli, Ratnagiri – 415709. PAN: AAATJ8258P Appellant/ Assessee Respondent / Revenue Assessee by Shri Promod S Shingte – AR Revenue by Miss. Indira R Adkil – Addl.CIT(DR) Date of hearing 27/01/2025 Date of…

Pani Purvatha Karmachari Sahakari Pat Sanstha Maryadit Kolhapur, Kolhapur vs. Income Tax Officer, Kolhapur

In the result, appeal of the assessee is allowed

ITA 2663/PUN/2024[AY 2018-19]Status: DisposedITAT Pune27 Jan 2025

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2663/Pun/2024 िनधा"रण वष" / Assessment Year: 2018-19 Pani Purvatha Karmachari V The Income Tax Officer, Sahakari Pat Sanstha Maryadit S Kolhapur. Kolhapur, 431-E Tej Apartment, Basant – Bahar Road, Shahupuri, Kolhapur – 416001. Pan: Aaaap1588M Appellant/ Assessee Respondent / Revenue Assessee By None. Revenue By Shri Harshit Dilip Bari – Addl.Cit(Dr) Date Of Hearing 23/01/2025 Date Of Pronouncement 27/01/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac] Passed U/Sec.250 Of The Income Tax Act, 1961, For The A.Y.2018-19 Dated 21.11.2024. The Assessee Has Raised The Following Grounds Of Appeal :

Section 139(1)Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2663/PUN/2024 िनधा"रण वष" / Assessment Year: 2018-19 Pani Purvatha Karmachari V The Income Tax Officer, Sahakari Pat Sanstha Maryadit s Kolhapur. Kolhapur, 431-E Tej Apartment, Basant – Bahar Road, Shahupuri, Kolhapur – 416001. PAN: AAAAP1588M Appellant/ Assessee Respondent / Revenue Assessee by None. Revenue by Shri Harshit Dilip Bari – Addl.CIT(DR) Date of hearing 23/01/2025 Date of pronouncement…

Malegaon Mahanagar Palika Karmchari Sahakari Patsanstha Maryadit, Pune, Maharashtra vs. Income Tax Officer - 1 Malegaon, Malegaon, Maharashtra

In the result, appeal of the assessee is allowed

ITA 2502/PUN/2024[2020-2021]Status: DisposedITAT Pune27 Jan 2025AY 2020-2021

Bench: MS.ASTHA CHANDRA, JUDICIAL MEMBER AND DR.DIPAK P. RIPOTE (Accountant Member)

Section 250Section 80P(2)(a)Section 80P(2)(d)

…आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE MS.ASTHA CHANDRA, JUDICIAL MEMBER AND DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.2502/PUN/2024 िनधा"रण वष" / Assessment Year: 2020-21 Malegaon Mahanagar Palika V The Income Tax Officer- Karmachari Sahakari s 1, Malegaon. Patsanstah Maryadit, 1 0, Chatrapati Shiwaji Town H, Shivashkti Chowk, Tilak Nagar, Malegaon – 423203. PAN: AAEAM0591K Appellant/ Assessee Respondent / Revenue Assessee by Shri C.H.Naniwadekar and Shri Kiran Sanmane – AR’s Revenue by Shri Harshit Dilip Bari –Addl.C…

Haveli Taluka Veej Kamgar Sahakari Pathsanstha Maryadit, Pune vs. Income Tax Officer Ward 6 (1) Pune, Pmt Building, Swargate

In the result, the appeal of the assessee is allowed

ITA 1428/PUN/2024[2017-18]Status: DisposedITAT Pune15 Jan 2025AY 2017-18

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita No.1428/Pun/2024 निर्धारण वर्ष / Assessment Year : 2017-18 Haveli Taluka Veej Kamgar Sahakari Pathsanstha Maryadit, 415/2 A, Shrine Complex, Somvar Peth, Pune -411011 Vs. Income Tax Officer, Ward - 6(1), Pune Pan : Aaaah2281D अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Shri Deepak S. Sasar Shri Ramnath P. Murkunde 05-11-2024 15-01-2025 आदेश / Order Per Astha Chandra, Jm : The Appeal Filed By The Assessee Is Directed Against The Order Dated 29.04.2024 Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi [“Cit(A)"] Pertaining To Assessment Year (“Ay”) 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal :- *1. The Ld. Cit(A) Has Wrongly Confirmed The Disallowance Of Deduction Of Rs.8,84,993/- Claimed By The Appellant U/S.80P (2)(A)(I) Of The Income Tax Act, 1961 Of Interest Income Earned From Deposit With Pdcc Bank. 2. Alternatively, The Interest Income Earned By The Appellant From The Investments In A Co-Operative Bank Is Also Eligible For Deduction Under Section 80P (2) (D) Of The Income Tax Act, 1961. 3. The Ld. Cit (A) Has Wrongly Confirmed The Disallowance Of Deduction U/S.80P Of Commission Receipts Of Rs.53,52,723/- After Deducting The Salary Expenses Of Rs.3,00,202/- From The Total Commission Receipts Of Rs.56,52,925/-. Being The Same Income Is Received From The Mseb On Account Of Running Cash Counter For Mseb Bill Payments & The Same Is Treated As Income From Other Sources. 4. The Appellant Crave Leave To Add, Delete, Amend, Alter, Vary And/Or Withdraw All Or Any One Of The Above Grounds Of Appeal.” 2

For Appellant: Department byFor Respondent: Date of hearing

Section 143(1)Section 143(2)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…

Reliance Industries Emp Co. Op. Chs, Raigad vs. ITO Ward 4, Panvel

In the result, appeal of the assessee is allowed

ITA 2486/PUN/2024[2020-21]Status: DisposedITAT Pune08 Jan 2025AY 2020-21

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Section 250Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2486/PUN/2024 िनधा"रण वष" / Assessment Year: 2020-21 Reliance Industries Emp Co. V The Income Tax Officer, Op. CHS, s Ward-4, Panvel. B-4, MIDC, Khaire Patalganga, Raigad – 410220. PAN: AAAAR4359N Appellant/ Assessee Respondent / Revenue Assessee by Shri Kishor B. Phadke and Manakchand L Baheti – AR’s Revenue by Shri Ratnakar Shelake – Addl.CIT(DR) Date of hearing 02/01/2025 Date of pronouncement 08…

Vipankit Kaur Dhaliwal, Ghaziabad vs. ITO Ward-2(5), Noida

ITA 3408/DEL/2023[2010-11]Status: DisposedITAT Delhi07 Jan 2025AY 2010-11

Bench: Sh. Satbeer Singh Godara & Sh. Naveen Chandra

For Appellant: Ms. Gurneet Kaur, AdvFor Respondent: Sh. Manish Gupta, Sr. DR

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

…a also quotes (2025) 170 taxmann.com 336 (Gujarat) Brahmarshi Co-op. Credit Society Ltd. Vs. ACIT deciding the very issue in the Revenue’s favour. The assessee on the other hand draws strong support from the Vaveru Co-operative Rural Bank Ltd. vs. CIT [(2017) 396 ITR 371 (AP)] wherein their lordships have rejected the Revenue’s identical stand. Be that as it may, the fact remains that no valuable guidance has come from hon’ble jurisdictional high court at Allahabad on the Secretary, Co-operative Cane Development Union Ltd. instant issue. That being the case, we hereby quote Commissioner of Income-Tax, West Bengal…

Abhinandan Gramin Bigar Sheti Sahakari Patsanstha Maryadit Kumbhoj, Kolhapur vs. Income Tax Officer, Ichalkaranji

In the result, appeal of the assessee is allowed

ITA 2449/PUN/2024[AY 2020-21]Status: DisposedITAT Pune31 Dec 2024

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2449/PUN/2024 िनधा"रण वष" / Assessment Year: 2020-21 Abhinandan Gramin Bigar V The Income Tax Officer, Sheti SAhakari Patsanstha s Ichalkaranji. Maryadit Kumbhoj, Near Grampanchayat Main Road, Tal-Hatkanagale, Dist-Kolhapur, Maharashtra – 416111. PAN: AABAA7101Q Appellant/ Assessee Respondent / Revenue Assessee by None Revenue by Shri Ratnakar Shelake – Addl.CIT(DR) Date of hearing 30/12/2024 Date o…

Prakashbapu Patil Gramin Bigar Sheti Sahakari Pat Sanstha Ltd, Sangli vs. ACIT, Circle- Sangli, Sangli

Appeals of the assessee are allowed

ITA 1328/PUN/2024[2015-16]Status: DisposedITAT Pune23 Dec 2024AY 2015-16

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1325& 1328/Pun/2024 िनधा"रण वष" / Assessment Years : 2014-15 & 2015-16 Prakashbapu Patil Gramin V The Acit, Bigar Sheti Sahakari Pat S Circle-Sangli. Sanstha Ltd., Sahakari Pat Sanstha Ltd., Savali Miraj, Sangli – 416410. Maharashtra. Pan: Aaaap1616N Appellant/ Assessee Respondent / Revenue Assessee By Smt. Deepa Khare – Ar Revenue By Shri Rajesh Gawali – Addl.Cit(Dr) Date Of Hearing 19/12/2024 Date Of Pronouncement 23/12/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] For Assessment Years 2014-15 & 2015-16; Dated 05.04.2024 & 10.04.2024 Respectively; Passed U/Sec.250 Of The Income Tax Act, 1961. Since The Issue Involved Is Common

Section 139(1)Section 144Section 147Section 250Section 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…ITAT Pune Bench in various cases of Co-operative Credit Societies have held that interest earned from banks is eligible for deduction u/sec.80P(2)(a) of the Act. The Hon’ble Andhra Pradesh High Court in the case of Vavveru Co-operative Rural Bank Ltd. [2017] 396 ITR 371 has held that interest earned on fixed deposits kept with banks by a Co-operative Credit Society is eligible for deduction u/s.80P(2)(a) of the Act. 5.2 Therefore, in these facts and circumstances of the case, once various judicial forums have held that interest earned by Co- operative Credit Societies from Banks is eligible for deduction u/sec.…

Prakashbapu Patil Gramin Bigar Sheti Sahakari Pat Sanstha Ltd, Sangli vs. ACIT Circle Sangli, Sangli

Appeals of the assessee are allowed

ITA 1325/PUN/2024[2014-15]Status: DisposedITAT Pune23 Dec 2024AY 2014-15

Section 139(1)Section 144Section 147Section 250Section 271(1)(c)Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)

Income Tax Officer, Bhimavaram vs. The Yendagandhi Large Size Cooperative Society Limited, Yedagandi

ITA 354/VIZ/2024[2020-21]Status: DisposedITAT Visakhapatnam13 Dec 2024AY 2020-21

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.354/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2020-21) Income Tax Officer - Ward - 1 V. The Yendagandhi Large Size Cooperative Society Limited Opp. Ganesh Canteen 4-16, Kk Road, Yendagandhi J.P. Road, Bhimavaram – 534202 West Godavari District – 534186 Andhra Pradesh Andhra Pradesh [Pan: Aacat0967G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

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

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM “DIVISION” BENCH, VISAKHAPATNAM (HYBRID HEARING) श्री के.नरधिम्हा चारी, न्याधयक िदस्य एिं श्री एि बालाकृष्णन, लेखा िदस्य के िमक्ष BEFORE SHRI K. NARASIMHA CHARY, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./I.T.A.No.354/VIZ/2024 (निर्धारण वर्ा/ Assessment Year: 2020-21) Income Tax Officer - Ward - 1 v. The Yendagandhi Large Size Cooperative Society Limited Opp. Ganesh Canteen 4-16, KK Road, Yendagandhi J.P. Road, Bhimavaram – 534202 West Godavari District – 534186 Andhra Prade…

Dhule Jilha Prathamik Shikshakanchi Sahakari Patpedhi Ltd Dhule, Dhule vs. Income Tax Officer Ward 1 Dhule, Dhule

In the result, appeal of the assessee is partly allowed

ITA 2185/PUN/2024[2017-18]Status: DisposedITAT Pune10 Dec 2024AY 2017-18

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2185/Pun/2024 िनधा"रण वष" / Assessment Year: 2017-18 Dhule Jilha Prathamik V The Income Tax Officer, Shikshakanchi Sahakari S Ward-1, Dhule. Patpedhi Ltd., Plot No.3. Abhiyanta Nagar, Wadibhokar Road, Dhule – 424002. Pan: Aabtd7183N Appellant/ Assessee Respondent / Revenue Assessee By Shri Shirude M.R. – Ar Revenue By Shri Manish Mehta – Addl.Cit(Dr) Date Of Hearing 05/12/2024 Date Of Pronouncement 10/12/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] For Assessment Year 2017-18 Dated 05.09.2024 Passed U/Sec.250 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. In These Facts, Circumstances & Position Of Law Assessment Order Under Appeal Is Bad In Law Illegal & Void Ab Initio & Hence May Be Annulled.

Section 250Section 80PSection 80P(2)(a)

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2185/PUN/2024 िनधा"रण वष" / Assessment Year: 2017-18 Dhule Jilha Prathamik V The Income Tax Officer, Shikshakanchi Sahakari s Ward-1, Dhule. Patpedhi Ltd., Plot No.3. Abhiyanta Nagar, Wadibhokar Road, Dhule – 424002. PAN: AABTD7183N Appellant/ Assessee Respondent / Revenue Assessee by Shri Shirude M.R. – AR Revenue by Shri Manish Mehta – Addl.CIT(DR) Date of hearing 05/12/2024 Date of pronouncement…

Durgamatha House Building Construction Co Operative Housing Society Limited, Hyderabad vs. Income Tax Officer, Ward-11(1), Hyderabad

In the result, the appeal of the assessee is dismissed

ITA 659/HYD/2024[2020-21]Status: DisposedITAT Hyderabad10 Dec 2024AY 2020-21

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdiaassessment Year: 2020-21 Durgamatha House Building Vs. The Income Tax Officer, Ward-11(1), Construction Co-Operative Hyderabad. Housing Society Limited, Hyderabad. Pan : Aacad6852C (Appellant) (Respondent) Assessee By: Shri T. Chaitanya Kumar, Advocate Revenue By: Ms. Kavitha Rani, Sr-Dr Date Of Hearing: 03.12.2024 Date Of Pronouncement: 10.12.2024

For Appellant: Shri T. Chaitanya Kumar, AdvocateFor Respondent: Ms. Kavitha Rani, SR-DR

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

…ized bank. The Ld.AR relied on the decision of co- ordinate Bench of ITAT in its own case (supra), wherein the ITAT relied on the decision of Hon'ble High Court of Andhra Pradesh in case of The Vavveru Co-operative Rural Bank Ltd., Vs. CCIT reported in (2017) 396 ITR 371 (AP) and decided the issue in favour of the assessee. The relevant portion of the decision of the co- ordinate Bench of ITAT in assessee’s own case (supra) is reproduced as under : “6. I have gone through the record in the light of the submissions made on either side. Issue involved in this matter is no longer res integra and the Hon’ble jurisdi…

Ordnance Factory Employees Co-Operative Credit Society Limited, Dehu Road, Pune vs. Income Tax Officer, Ward 9(3), Pune, Akurdi

In the result, appeal of the assessee is Partly Allowed

ITA 2072/PUN/2024[2017]Status: DisposedITAT Pune28 Nov 2024

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2072/PUN/2024 िनधा"रण वष" / Assessment Year: 2017-18 Ordnance Factory Employees V The Income Tax Officer, Co-operative Credit Society s Ward-9(3), Pune. Limited, Dehu Road, Pune. PAN: AABFO7042H Appellant/ Assessee Respondent / Revenue Assessee by Shri Pramod S Shingte – AR Revenue by Shri Manoj Tripathi – DR Date of hearing 26/11/2024 Date of pronouncement 28/11/2024 आदेश/ ORDER PER DR. DIPAK P. RI…

Swami Samarth Sahakari Bank Ltd, Akkalkot vs. Income Tax Officer Ward 2(3), Solapur

In the result, appeal of the assessee is allowed

ITA 2138/PUN/2024[2020-2021]Status: DisposedITAT Pune25 Nov 2024AY 2020-2021

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Section 250Section 80P(2)(a)Section 80P(2)(d)Section 80p

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2138/PUN/2024 िनधा"रण वष" / Assessment Year: 2020-21 Swami Samarth Sahakari V The Income Tax Officer, Bank Ltd., s Ward-2(3), Solapur. A One Chowk, Station Road, Akkalkot, Solapur – 413001. PAN: AAETS5938F Appellant/ Assessee Respondent / Revenue Assessee by Shri Pramod S Shingte – AR Revenue by Shri A.D.Kulkarni – Addl.CIT(DR) Date of hearing 18/11/2024 Date of pronouncement 25/11/2024 आदेश/ ORDER…

The Telecom Officers & Bsnl Non Executive Employees Coop Cr Society Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle-1(1), Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 431/VIZ/2024[2018-19]Status: DisposedITAT Visakhapatnam25 Nov 2024AY 2018-19

Bench: Shri K. Narasimha Chary & Shri S. Balakrishnan

For Appellant: Shri GVN Hari, ARFor Respondent: Dr. Aparna Villuri, Sr. AR

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

…which are not to be utilised in the near future in the nationalised bank and, therefore, such deposit has nexus with the business of the assessee. Assessee placed reliance on the decisions reported in The Vavveru Co-operative Rural Bank Ltd. vs. CCIT (2017) [396 ITR 371] (AP) 5. Per contra, learned DR argued that insofar as the deduction under section 80P(2)(a)(i) of the Act is concerned, it is available only to certain co-operative societies but not to all the co-operative societies and, therefore, this fact needs verification. Secondly, he submitted that whether or not the deposited amount is the exclusive amo…

Prakashchand Jain Multi State Co.Operative Credit Society Ltd., Jamner vs. ITO Ward 1(4), Jalgaon

In the result, appeal of the assessee is allowed

ITA 1802/PUN/2024[2018-19]Status: DisposedITAT Pune21 Nov 2024AY 2018-19

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1791, 1801 & 1802/Pun/2024 िनधा"रण वष" / Assessment Years: 2020-21, 2014-15 & 2018-19 The Prakashchand Jain Multi V The Income Tax Officer, State Co-Operative Credit S Ward-1(4), Jalgaon. Society Ltd., Mayur Complex, Bajrangpura Road, Jamner, Jalgaon – 424206. Pan: Aaaap4677K Appellant/ Assessee Respondent / Revenue Assessee By Shri Vinay Kawdia – Ar Revenue By Shri Arvind Desai – Addl.Cit(Dr) Date Of Hearing 18/11/2024 Date Of Pronouncement 21/11/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Bunch Of Three Appeals Filed By The Assessee Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] Under Section 250 Of The Income Tax Act, 1961 For A.Y.2020-21 Dated 10.07.2024, A.Y.2014-15 & A.Y.2018-19 Dated 09.07.2024 Respectively. Since The Issue Involved Is Common & Facts Are Identical, All The Three Appeals

Section 250Section 80PSection 80P(2)(a)

…।आयकर अपीलीय अिधकरण ”बी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “B” :: PUNE BEFORE DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.1791, 1801 & 1802/PUN/2024 िनधा"रण वष" / Assessment Years: 2020-21, 2014-15 & 2018-19 The Prakashchand Jain Multi V The Income Tax Officer, State Co-operative Credit s Ward-1(4), Jalgaon. Society Ltd., Mayur Complex, Bajrangpura Road, Jamner, Jalgaon – 424206. PAN: AAAAP4677K Appellant/ Assessee Respondent / Revenue Assessee by Shri Vinay Kawdia – AR Revenue by Shri Arvind Desai – Addl.CIT(DR) Date of hear…

The Prakashchand Jain Multi State Co Operative Society Ltd., Jamner vs. ITO Ward 1(4), Jalgaon

In the result, appeal of the assessee is allowed

ITA 1801/PUN/2024[2014-15]Status: DisposedITAT Pune21 Nov 2024AY 2014-15

Section 250Section 80PSection 80P(2)(a)