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“gross total income”

Chapter VI - Deductions / Set-offSection 80B(5)Section 80B(5) / Rule 3D2,282 judgments

The decision most relied on for gross total income is CIT v. Andhra Pradesh State (200 Taxmann 220), cited in 348 judgments on BharatTax.

Leading authorities on gross total income

CIT v. Andhra Pradesh State
200 Taxmann 220 · 2011 · High Court
348
citing judgments

Interest earned by a Co-operative Society from investing fixed deposits in banks is entitled to a deduction under Section 80P(2)(a)(i) of the Income-tax Act.

CIT v. Yokogawa India Ltd.
391 ITR 274 · 2017 · Supreme Court
290
citing judgments

Deduction under Section 10A or 10AA of the Income-tax Act is computed on the profits of the eligible unit without first setting off losses from other units or non-eligible units. Conversely, losses incurred by an eligible unit are allowed to be set off against the assessee's other taxable business profits.

ACG Associated Capsules (P) Ltd. v. CIT
343 ITR 89 · 2012 · Supreme Court
144
citing judgments

For calculation of deduction under Section 80HHC, if total interest is netted off after adjusting interest paid and received, the 90% reduction specified in Explanation (baa) is not applicable.

Synco Industries Ltd. v. Assessing Officer (IT) & Another
299 ITR 444 · 2008 · Supreme Court
82
citing judgments

When computing deductions under Chapter VI-A, such as Section 80IA, losses from other business undertakings must be set off against the profits of the eligible undertaking before calculating the deduction. No deduction under Section 80IA is permissible if the overall 'Profits & Gains of Business or Profession' results in a loss.

CIT v. Himatasingike Seide Ltd.
286 ITR 255 · 2006 · High Court
73
citing judgments

Deduction under Section 10A of the Income-tax Act is to be allowed only after setting off unabsorbed depreciation and brought forward business losses against the profits of the business.

CIT v. Williamson Financial Services
165 Taxmann 638 · 2007 · Supreme Court
67
citing judgments

Income-tax is levied on the total income of an assessee, not on gross receipts. The tax is on income, and deductions for expenditure are permissible.

CIT v. Reliance Energy Limited
127 Taxmann.com 69 · 2021 · Supreme Court
47
citing judgments

Deduction under Section 80-IA or 80-IB is computed by setting it off against the gross total income to arrive at the total income of an assessee.

CIT v. Tridoss Laboratories Ltd.
328 ITR 448 · 2010 · High Court
35
citing judgments

Deductions under Chapter VI-A of the Income Tax Act, such as Section 80-IA, are to be calculated and allowed with reference to the assessee's gross total income, not just business income.

Judgments citing gross total income

Late Jagjit Singh Bajwa Leagal Heir Harleen Bajwa, Bangalore vs. Income Tax Officer, Ward-4(2)(3), Bangalore

ITA 825/BANG/2024[2013-14]Status: DisposedITAT Bangalore27 Jun 2024AY 2013-14

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadav

For Appellant: Sri Raghavendra Maiya, A.RFor Respondent: Ms. Neha Sahay, D.R
Section 143(3)Section 250Section 54Section 54ESection 54F

Income from Business Rs. 14,88,731/- Capital Gain Rs. 0/- Income for Other Sources Rs. 1,27,446/- Page 2 of 13 Gross Total Income Less: Deduction under Chapter VIA Total Income Rs. 14,56,917/- Rs. 1,30,317/- Rs. 13,26,600/- Wherein, the Income from House

Samrudh Vividoddesha Souharda Sahakari Niyamita, Shivamogga vs. Income-Tax Officer, Ward-5, Shivamogga

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

ITA 1085/BANG/2024[2017-18]Status: DisposedITAT Bangalore27 Jun 2024AY 2017-18

Bench: Smt. Beena Pillaiassessment Year : 2017-18 M/S. Samrudh Vividoddesha Souharda Sahakari Niyamita, The Income Tax 1St Floor, Belaguru Officer, Complex, Ward – 5, Durgigudi Main Road, Shivamogga. Shivamogga. Vs. Karnataka – 577 201. Pan: Aaals0413K Appellant Respondent

For Appellant: Shri Varun Bhat, CA
Section 142(1)Section 143(2)Section 2(19)Section 5(3)Section 80PSection 80P(2)(a)

section (1) of said section reads as under: "80P. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section

Sri Siddeshwar Souharda Pattin Sahakari Niyamitha Vijayapura, Vijayapura vs. Income Tax Officer, Ward 1& Tps, Bijapur

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

ITA 1084/BANG/2024[2017-18]Status: DisposedITAT Bangalore27 Jun 2024AY 2017-18

Bench: Smt. Beena Pillaiassessment Year : 2017-18 M/S. Sri Siddeshwar Souharda Pattin Sahakari Niyamitha, The Income Tax Siddeshwara Road, Officer, Bijapur, Ward 1 & Tps, Vijayapura, Bijapur. Vs. Karnataka – 586 101. Pan: Aaabs1457M Appellant Respondent

For Appellant: Shri Varun Bhat, CA
Section 142(1)Section 143(2)Section 2(19)Section 5(3)Section 80PSection 80P(2)(a)Section 8o

section (1) of said section reads as under: "80P. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section

Npc Employees Co Operative Credit Society Ltd, Mumbai vs. Income Tax Officer, Mumbai

In the result the solitary ground of appeal of the assessee is allowed

ITA 89/MUM/2024[2020-2021]Status: DisposedITAT Mumbai27 Jun 2024AY 2020-2021

Bench: Shri Prashant Maharishi (Am) I.T.A. No. 89/Mum/2024 (A.Y. 2020-21) Npc Employees Vs. Ito Ward 27(2)(1) Cooperative Credit Vashi Railway Society Limited Station, 4Th Floor Vikram Sarabhai Vashi, Navi Bhavan, South Wing Mumbai-400 703. 6Th Floor, Trombay Mumbai-400 094. Pan : Aaban0550E (Appellant) (Respondent) Assessee By Shri Sushant N. Alme Department By Shri R.R. Makwana Date Of Hearing 05.06.2024 Date Of Pronouncement 27.06.2024 O R D E R 1. This Appeal Is Filed By Npc Employees Cooperative Credit Society Ltd Mumbai (The Assessee/Appellant) For Assessment Year 2020 – 2021 Against The Appellate Order Passed By The National Faceless Appeal Centre (Nfac), Delhi (The Learned Cit – A) Dated 29/11/2023 Wherein The Appeal Filed By The Assessee Against The Assessment Order Passed By The Faceless Appeal Centre On 19/9/2022 Under Section 143 (3) Of The Income Tax Act, 1961 Was Dismissed. 2. The Only Dispute In This Appeal Is That Assessee Has Invested Surplus Amount In Fixed Deposits With State Bank Of India & Earned Interest Of ₹ 1,176,084/–. The Assessee Claimed Deduction Under Section 80 (P) (2) Of The Act Which Was Denied To The Assessee & Is Contested In This Appeal. 3. The Brief Facts Of The Case Shows That Assessee Is A Co-Operative Society Registered Under The Maharashtra State Cooperative Societies Act, 1961 Page 1 Of 6

Section 143Section 144Section 80

interest on loan to its members and interest from fixed deposits. The assessee filed its return of income on 12/2/2021 wherein the gross total income of assessee was computed at ₹ 13,854,411/– and entire amount has been claimed as a deduction under section ... respect of income of co-operative societies: 80P (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section

Laxmi Narayan Residency D Co. Op Hsg Soc Ltd, Thane vs. ITO Ward 1(1), Thane

In the result, the appeal of the assessee is allowed

ITA 3/MUM/2024[2020-21]Status: DisposedITAT Mumbai27 Jun 2024AY 2020-21

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhrilaxmi Narayan Residency D Vs. Assistant Director Of Co. Op. Hsg. Soc. Ltd. Income-Tax Cpc, Plot No. 189, 190, 191, Bengaluru/Ito Ward(1)1, Village Majjwada, Gokhale Road, Thane Pokhran Road No. 2, Unnati Garden, 3, Thane (W.)-400610 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaal7961N Appellant .. Respondent

For Appellant: Shri Bharat GandhiFor Respondent: Shri Nagnath Pasale
Section 143(1)Section 154Section 2(19)Section 250Section 7Section 70Section 80Section 80PSection 80P(2)(d)

operative Housing Society. Thus, if any income as referred to in sub- section (2) to section 80P is included in the gross total income of the Page 3 of 6 A.Y.2020-21 Laxmi Narayan Residency D. Co. Op. HSG. Soc. Ltd. assessee, the same shall be allowed as a deduction

Shree Kumbhajai Co-Op Society Ltd, Mumbai vs. ACIT, CPC, Bangaluru

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

ITA 183/MUM/2024[2020-21]Status: DisposedITAT Mumbai27 Jun 2024AY 2020-21

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2020-21

For Appellant: Shri Ravi Dasija, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 234ASection 250Section 80PSection 80P(2)(d)

CoOperative Housing Society. Thus, if any income as referred to in subsection (2) to section 80P of the Act is included in the gross total income of the assessee, the same shall be allowed as a deduction. It is pertinent to note that since the assessee is registered under

Chitrakoot Co-Op Hsg Society Limited, Mumbai vs. Income Tax Officer Ward 19(1)(3), Mumbai

ITA 1009/MUM/2024[ASSESSMENT YEAR 2016-17]Status: DisposedITAT Mumbai27 Jun 2024

Bench: Shri Prashant Maharishi (Am)

Section 143Section 144Section 2Section 80

limited scrutiny and notice under section 143 (2) of the act was issued and served. It was found that assessee has earned gross total income of ₹ 3,103,535/- and has claimed deduction under section 80 P (2) (D) of the act on account of bank interest received from cooperative

Saurashtra Jain Mutually Aided Co-Operative Society, Hyderabad vs. Income Tax Officer, Ward- 5(1), Hyderabad

In the result, appeal filed by the assessee is allowed

ITA 609/HYD/2024[2017-2018]Status: DisposedITAT Hyderabad26 Jun 2024AY 2017-2018

Bench: Shri Manjunatha, G.आ.अपी.सं /Ita No.609/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2017-18) The Saurashtra Jain Vs. Income Tax Officer Mutually Aided Ward 5(2) Cooperative Credit Society Hyderabad Ltd, Hyderabad Pan:Aayfs9752K (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Adv. Syed Jameeluddin रधजस् व द्वधरध/Revenue By:: Smt. P. Sumitha, Dr सुिवधई की तधरीख/Date Of Hearing: 26/06/2024 घोर्णध की तधरीख/Pronouncement: 26/06/2024 आदेश/Order

For Appellant: Adv. Syed JameeluddinFor Respondent: : Smt. P. Sumitha, DR
Section 143(3)Section 80P(2)(a)Section 80P(2)(d)

Facts of the case, in brief, are that the assessee a Mutually Aided Cooperative Credit Society Ltd filed its return of income admitting gross total income of Rs.15,48,162 and claimed deduction u/s 80P(2)(a)(i) of the I.T. Act, 1961. The case was Page ... erred in directing the Assessing Officer to assess the total income at Rs.15,48,062/- which is the gross total income declared by the assessee before claiming deduction u/s 80P(2)(a)(i) of the I.T. Act, 1961 by mis- interpreting the PAN of the assessee even though the assessee

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Income Tax Officer-30 (1) (1), Mumbai

In the result, all the four appeals filed by the assessee which are under consideration are allowed on the same terms

ITA 4763/MUM/2023[2014-15]Status: DisposedITAT Mumbai26 Jun 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2018-19 Assessment Year: 2019-20

For Appellant: Shri Kunal Dilip Lunawat, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 250Section 80PSection 80P(2)(d)

adjudication of the issue before us. "80P(2) (d) (1). Where in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub- section (2), there shall be deducted, in accordance with and subject to the provisions of this section

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Income Tax Officer-41 (3) (4), Mumbai

In the result, all the four appeals filed by the assessee which are under consideration are allowed on the same terms

ITA 4762/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Jun 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2018-19 Assessment Year: 2019-20

For Appellant: Shri Kunal Dilip Lunawat, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 250Section 80PSection 80P(2)(d)

adjudication of the issue before us. "80P(2) (d) (1). Where in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub- section (2), there shall be deducted, in accordance with and subject to the provisions of this section

Usha Janakalyan Nagar Chs Ltd, Mumbai vs. The Centralized Processing Center, Bangalore

In the result, all the four appeals filed by the assessee which are under consideration are allowed on the same terms

ITA 4761/MUM/2023[2019-20]Status: DisposedITAT Mumbai26 Jun 2024AY 2019-20

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2018-19 Assessment Year: 2019-20

For Appellant: Shri Kunal Dilip Lunawat, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 250Section 80PSection 80P(2)(d)

adjudication of the issue before us. "80P(2) (d) (1). Where in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub- section (2), there shall be deducted, in accordance with and subject to the provisions of this section

Sarvodaya Credit Co Op Society Ltd Barkur, Udupi vs. Income-Tax Officer, Ward-1, Udupi

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

ITA 746/BANG/2024[2017-18]Status: DisposedITAT Bangalore25 Jun 2024AY 2017-18

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavsarvodaya Credit Co-Op. The Income Tax Officer Society Ltd. Ward -2, Udupi Car Street, Barkur Vs. Udupi 576210 Pan – Aaeas9576Q (Appellant) (Respondent) Assessee By: Smt. Sheetal Borkar, Advocate Revenue By: Ms. Neha Sahay, Jcit-Dr Date Of Hearing: 25.06.2024 Date Of Pronouncement: 25.06.2024 O R D E R Per: Prakash Chand Yadav, J.M. This Appeal Filed By The Assessee Challenges The Din & Order No. Itba/Nfac/S/2003-24/1061360577(1) Of The National Faceless Appeal Centre, Delhi (Cit(A)) Dated 22.02.2024 Passed Under Section 250 Of The Income Tax Act, 1961 (The Act) In Respect Of Assessment Year (Ay) 2017-18. 2. The Brief Facts Of The Case Are That The Assessee Society Filed Its Return Of Income(Roi) On 06.11.2017 Declaring Gross Total Income Of Rs.18,34,325/- & Net Income As Nil. Roi Filed By Assessee Was Selected For Scrutiny, After Issuing Statutory Notices. During The Course Of Assessment Proceedings The Ld. Assessing Officer (Ao) Treated Certain Income Of The Assessee As Income From Other Sources(Ios) & Without Giving The Benefit Of The Expenses Attributable Ios Assessed The Entire Income Under The Head ‘Income From Other Sources’. The Ao Further Added Rs. 1,90,000/- On Account Of The Provisions Made By Assessee With 2 Sarvodaya Credit Co-Op. Society Ltd. Respect To Employee’S Retirement Fund & Provision With Respect To Nps Fund Amounting To Rs.27,57,696/-.

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms. Neha Sahay, JCIT-DR
Section 250Section 57Section 80PSection 80P(2)(a)

brief facts of the case are that the assessee society filed its return of income(ROI) on 06.11.2017 declaring gross total income of Rs.18,34,325/- and net income as Nil. ROI filed by assessee was selected for scrutiny, after issuing statutory notices. During the course of assessment proceedings

Raheja Chambers Premises Co Operative Society Limited, Mumbai vs. ITO Ward 26(1)(1), Mumbai

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

ITA 630/MUM/2024[2014-15]Status: DisposedITAT Mumbai25 Jun 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry & Shri Girish Agrawalassessment Year: 2014-15

For Appellant: Shri Nitesh Joshi &For Respondent: Smt Mahita Nair, Sr. D.R
Section 143(3)Section 234ASection 250Section 80PSection 80P(2)(d)

CoOperative Housing Society. Thus, if any income as referred to in subsection (2) to section 80P of the Act is included in the gross total income of the assessee, the same shall be allowed as a deduction. It is pertinent to note that since the assessee is registered under

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

In the result, all the appeals are allowed

ITA 35/MUM/2024[2021-22]Status: DisposedITAT Mumbai25 Jun 2024AY 2021-22

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2018-19 Assessment Year: 2020-21 & Assessment Year: 2021-22

For Appellant: Ms. Kinjal Bhuta, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 250Section 80P(2)(c)Section 80P(2)(d)

CoOperative Housing Society. Thus, if any income as referred to in subsection (2) to section 80P of the Act is included in the gross total income of the assessee, the same shall be allowed as a deduction. It is pertinent to note that since the assessee is registered under

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

In the result, all the appeals are allowed

ITA 34/MUM/2024[2020-21]Status: DisposedITAT Mumbai25 Jun 2024AY 2020-21

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2018-19 Assessment Year: 2020-21 & Assessment Year: 2021-22

For Appellant: Ms. Kinjal Bhuta, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 250Section 80P(2)(c)Section 80P(2)(d)

CoOperative Housing Society. Thus, if any income as referred to in subsection (2) to section 80P of the Act is included in the gross total income of the assessee, the same shall be allowed as a deduction. It is pertinent to note that since the assessee is registered under

Brighton Co Op Hsg Soc Ltd, Mumbai vs. ITO Ward 19(1)(1), Mumbai

In the result, all the appeals are allowed

ITA 33/MUM/2024[2018-19]Status: DisposedITAT Mumbai25 Jun 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriassessment Year: 2018-19 Assessment Year: 2020-21 & Assessment Year: 2021-22

For Appellant: Ms. Kinjal Bhuta, A.RFor Respondent: Shri Nagnath Pasale, D.R
Section 143(1)Section 154Section 250Section 80P(2)(c)Section 80P(2)(d)

CoOperative Housing Society. Thus, if any income as referred to in subsection (2) to section 80P of the Act is included in the gross total income of the assessee, the same shall be allowed as a deduction. It is pertinent to note that since the assessee is registered under

Yadagere Souharda Co-Operative Society Limited., Chikkamagaluru vs. Income Tax Officer, Ward-1, Chikkamagaluru

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

ITA 444/BANG/2024[2018-19]Status: DisposedITAT Bangalore24 Jun 2024AY 2018-19

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2018-19

For Appellant: Shri Varun Bhat, CAFor Respondent: Shri V. Parithivel, Jt.CIT(DR)(ITAT), Bengaluru
Section 56Section 80PSection 80P(2)(a)

brief facts of the case are that assessee filed its return of income on 29.09.2018 declaring gross total income of Rs.1,44,42,327 and claimed deduction of Rs.144,09,287 u/s. 80P of the Act. The case was selected for scrutiny and statutory notices were issued to the assessee

Rehanabad Co-Operative Housing Society Limited, Mumbai vs. Income Tax Officer, Ward 24(1)(1), Mumbai

The appeal is allowed

ITA 4798/MUM/2023[2021-22]Status: DisposedITAT Mumbai24 Jun 2024AY 2021-22

Bench: Shri Prashant Maharishi (Am) I.T.A. No. 4798/Mum/2023 (A.Y. 2021-11) Rehanabad Co- Vs. Ito, Operative Housing Ward-24(1)(1) Society Limited Piramal Chamber 8, Rehanabad Housing Mumbai. Society Limited Spence Road, Byculla Mumbai-400 008. Pan : Aaaar4330D (Appellant) (Respondent) Assessee By Ms. Ritu Punjabi Department By Shri R.R. Makwana Date Of Hearing 04.06.2024 Date Of Pronouncement 24.06.2024 O R D E R 1. This Appeal Is Filed By Rehanabad Cooperative Housing Society Ltd, Mumbai (The Assessee/Appellant) For Assessment Year 2021 – 22 Against The Appellate Order Passed By The Additional Commissioner/Joint Commissioner Of Income Tax (A) Indore (The Learned Cit – A) Dated 31/10/2023 Wherein The Appeal Filed By The Assessee Against Intimation Under Section 143 (1) Of The Income Tax Act, 1961 Dated 19/10/2022 Passed By The Central Processing Centre Bangalore [ The Ld. Ao ] Wherein The Assessee Was Denied The Benefit Of Deduction Under Page 1 Of 9

Section 143Section 80

orders of lower authorities. The issue that arises is that assessee has filed its return of income on 18 December 2021 declaring a gross total income of Rs. 2,372,649 and deduction under chapter VIA of Rs. 560,497/– under section 80 P of the act was claimed

Income Tax Officer, Ward-1, Ahmednagar vs. Atul Ashok Parakh, Ahmednagar

In the result, the appeal of the Revenue and Cross Objection of the assessee both are dismissed

ITA 2/PUN/2024[2013-14]Status: DisposedITAT Pune21 Jun 2024AY 2013-14

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Prasad S. BhandariFor Respondent: Shri Ramnath P. Murkunde
Section 132Section 147Section 148Section 69

income was filed in ITR 3 (E-filing Acknowledgement No.:825536150261013) on 26/10/2013 declaring taxable income of Rs. 8,37,200/- against the gross total income of Rs.9,39,792/-. The income referred by the AO pertains to the Firm. M/. Ashok Bansilal Parakh (PAN ;.AAVFA2544A). This very fact

Shri Ganesh Urban Cooperative Credit Society Limited, Aurangabad vs. Income Tax Officer, Ward-1(1), Aurangabad

In the result, appeal of the assessee is partly allowed

ITA 196/PUN/2024[2017-18]Status: DisposedITAT Pune21 Jun 2024AY 2017-18

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.196/Pun/2024 िनधा"रण वष" / Assessment Year:2017-18 Shri Ganesh Urban V The Income Tax Officer, Cooperative Credit Society S Ward-1(1), Aurangabad. Limited, Main Market, Sarafa Galli, Sillod, Auranbabad – 431112. Pan: Aagas6006D Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri Arvind Desai – Dr Date Of Hearing 13/06/2024 Date Of Pronouncement 21/06/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] Under Section 250 Of The Act, Dated 05.12.2023 For The A.Y.2017-18. The Assessee Has Raised The Following Grounds Of Appeal : “Being Aggrieved By The Order Of Ld. Cit (A), Income Tax Department, Nfac U/S. 250 Of The It Act, 1961 Vide Order No.Itba/Nfac/S/250/2023-24/1058480083(1), Dated 05/12/2023. The Said Order Is Passed By Dismissing Appeal Filed By The Appellant Society Against The Order Passed By The Assessing Officer Ward 1(4), Aurangabad, [Now Ward 1(1), Aurangabad] Hence The Appellant Society Shri Ganesh Urban Cooperative Credit Society Limited [A]

Section 143(3)Section 234BSection 250Section 69ASection 80Section 80P(2)(a)

business of providing credit facilities to its members by a co- operative society and hence, it is certainly eligible for deduction from the gross total income under Section 80P(2)(a)(i) of the Act. Further, appellant society has received interest bearing funds/deposits from the members and out of which