interest on securities — 681 judgments | BharatTax

SUMAN NILAKANTH MASAL ,AHEMDNAGAR vs. ITO WARD-2, AHMEDNAGAR

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

ITA 2279/PUN/2025[2018-19]Status: DisposedITAT Pune12 Mar 2026AY 2018-19

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2018-19 Suman Nilakanth Masal Ito, Ward – 2, 983, Masal Colony, Rashin Karji, Vs. Ahmednagar Ahmednagar – 414403 Pan: Bvrpm6017J (Appellant) (Respondent) Assessee By : Shri Pramod S Shingte Department By : Shri Amit Bobde, Cit Date Of Hearing : 11-03-2026 Date Of Pronouncement : 12-03-2026

For Appellant: Shri Pramod S ShingteFor Respondent: Shri Amit Bobde, CIT

Section 147Section 148Section 270ASection 69

year had made cash deposit of Rs.23 lakhs, sold immovable property of Rs.53,60,000/-, made fixed deposit of Rs.33 lakhs and earned interest on securities of Rs.96,483/-, therefore, 2 the Assessing Officer, after recording reasons reopened the assessment and issued notice u/s 148 of the Act. The assessee

THE CAMP MULTIPURPOSE PRIMARY AGRICULTURE COOPERATIVE SOCIETY LIMITED,PERNEM, GOA vs. INCOME TAX OFFICER, WARD 2 (1), PANAJI, GOA

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

ITA 55/PAN/2026[2016-17]Status: DisposedITAT Panaji11 Mar 2026AY 2016-17

Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)

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

deduction under section 80P(2)(a)(i) of the Act. The CBDT CIRCULAR No.18/2015 F.No.279/Misc./140/2015/ITJ dated 02.11.2015 on the issue of interest SLR securities of banks states that – 1.“It has been brought to the notice of the Board that in the case of Banks, field officers ... income from other sources." 2. Clause (id) of sub-section (1) of Section 56 of the Act provides that income by way of interest on securities shall be chargeable to income tax under the head "Income from Other Sources", if, the income is not chargeable to income-tax under

SHRI BRAHMANATH CREDIT SOUHARD SAHAKARI SANGH NIYAMIT,NIPPANI vs. ITO 1 NIPPANI, NIPPANI

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

ITA 66/PAN/2026[2013-14]Status: DisposedITAT Panaji10 Mar 2026AY 2013-14

Bench: Shri Pavan Kumar Gadalei T A. Nos.66/Pan/2026 (A.Y. 2013-14 ) Shri Brahmanath Credit Vs I.T.O-Ward-1, Souhard Sahakari Sangh Nemchand Building, . Niyamat, 747,Ashoknagar, 185/C, Chikodi Road, Nippani-591237, Nippani, Karnataka. Belagavi-591237, Karnataka. Pan .No. Aaaas1063Q (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.U.G.Ammangi.Ar Revenue By Smt.Rijula Uniyal.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.03.2026 घोषणा की तारीख/Date Of Pronouncement 10.03.2026 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of Nfac/Cit(A) U/Sec 250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Sustaining The Denial Of Deduction Of Interest Income From Cooperative Society, Cooperative Banks & Nationalized Banks U/Sec80P(2)(D) Of The Act. 2. The Brief Facts Of The Case Are That, The Assessee Is A Cooperative Credit Society & Is Engaged In Activities Of Providing Credit Facilities To Its Members. The Assessee Has Filed The Return Of Income For The A.Y 2013-14 On 2 Ita. No..66/Pan/2026 Shri Brahmanath Credit Souhard Sahakari Sangh Niyamit. 30.09.2013 Disclosing A Total Income Of Rs.Nil After Claiming Deduction Of Rs.78,06,780/- U/Sec 80P(2)(A)(I) Of The Act. Subsequently The Case Was Selected For Scrutiny Under Cass & Order U/Sec143(3) Of The Act Was Passed Disallowing The Claim U/Sec80P(2)(A)(I) Of The Act Of Rs.78,06,780/- & Disallowance U/Sec40(A)(Ia) Of The Act Of Rs.76,274/- & Assessed The Total Income Of Rs.78,83,054/- Vide Order Dated21.07.2021.Aggrived By The Order, On Appeal To The Cit(A), The Appeal Was Partly Allowed & The Assessee Has Preferred Second Appeal Before The Honble Tribunal & Vide By Order

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

deduction under section 80P(2)(a)(i) of the Act. The CBDT CIRCULAR No.18/2015 F.No.279/Misc./140/2015/ITJ dated 02.11.2015 on the issue of interest SLR securities of banks states that – 1.“It has been brought to the notice of the Board that in the case of Banks, field officers ... income from other sources." 2. Clause (id) of sub-section (1) of Section 56 of the Act provides that income by way of interest on securities shall be chargeable to income tax under the head "Income from Other Sources", if, the income is not chargeable to income-tax under

SHRI MALLIKARJUN URBAN CO OPERATIVE CREDIT SOCIETY LIMITED,BELAGAVI vs. ITO WARD 1 BELGAUM, BELGAUM

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

ITA 65/PAN/2026[2017-18]Status: DisposedITAT Panaji06 Mar 2026AY 2017-18

Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)

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

deduction under section 80P(2)(a)(i) of the Act. The CBDT CIRCULAR No.18/2015 F.No.279/Misc./140/2015/ITJ dated 02.11.2015 on the issue of interest SLR securities of banks states that – 1.“It has been brought to the notice of the Board that in the case of Banks, field officers ... income from other sources." 2. Clause (id) of sub-section (1) of Section 56 of the Act provides that income by way of interest on securities shall be chargeable to income tax under the head "Income from Other Sources", if, the income is not chargeable to income-tax under

SHRI K.P. MAGENNAVAR LAXMI CREDIT SOUHARDA SAHAKARI SANGH LTD.MANJARI.,CHIKODI vs. INCOME TAX OFFICER, WARD-1, NIPPANI

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

ITA 33/PAN/2026[2015-2016]Status: DisposedITAT Panaji27 Feb 2026AY 2015-2016

Bench: Shri Pavan Kumar Gadalei T A. No.33/Pan/2026 (A.Y. 2015-16 ) Shri K.P.Magennavar Laxmi Vs I.T.O-Ward-1, Credit Souharda Sahakari Nemchand Building, . Sangh Limited, 747,Ashoknagar, 521,Laxmibuilding,Mainroad, Nipani-591237, Manjari, Chikodi, Karnataka. Belagavi-591213, Karnataka. Pan .No. Aabas3175N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Jaykumar Patil.Ar Revenue By Smt.Thamba Mahendra.Sr.Dr सुनवाई की तारीख/Date Of Hearing 25.02.2026 घोषणा की तारीख/Date Of Pronouncement 27.02.2026 Order Per Pavan Kumar Gadale, Jm: The Assessee Has Filed The Appeal Against The Order Of Addl/Jcit(A)-7 Mumbai Passed U/Se 143(3) & U/Sec250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Sustaining The Denial Of Claim Of Deduction U/Sec80P(2)(A)(I) Of The Ac & Without Prejudice Alternate Relief U/Sec80P(2)(D) Of The Act On Interest Income From Cooperative Banks & Scheduled Banks. 2. The Brief Facts Of The Case Are That, The Assessee Souhard Credit Cooperative Society Is Engaged In Providing

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

CBDT CIRCULAR No.18/2015 F.No.279/Misc./140/2015/ITJ dated 02.11.2015 on the 12 ITA. No.33/PAN/2026 Shri.K.P.Magennavar Laxmi Credit Souharda Sahakari Sangh Limited. issue of interest SLR securities of banks states that – 1.“It has been brought to the notice of the Board that in the case of Banks, field officers are taking ... income from other sources." 2. Clause (id) of sub-section (1) of Section 56 of the Act provides that income by way of interest on securities shall be chargeable to income tax under the head "Income from Other Sources", if, the income is not chargeable to income-tax under

MUMMALANENI RAGHAVAN,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, both the appeals of the assessee are allowed

ITA 627/VIZ/2025[2016-17]Status: DisposedITAT Visakhapatnam27 Feb 2026AY 2016-17

Bench: Itat, Stating That The Reopening Of Assessment U/S 147 Of The Act Was Based Merely On System Generated Information, Which Is Invalid & Without Any Tangible Material. In The Grounds Of Appeal, It Was Mentioned That The Assessment U/S 147 Is Beyond Time Limit Prescribed & Hence, The Proceedings Are Void-Ab-Initio.

Section 144Section 144BSection 147Section 194ASection 56

from this, the assessee has received interest income of Rs.870/- and the same was liable for tax under the head “interest other than interest on securities u/s 194A”. Since there is no income tax return and there is no reply from the assessee, this interest income was also taxed

THE VANDELI DUDH UTPADAK SAHAKARI MANDLI LTD,PANCHMAHAL vs. THE ITO, WARD-1, GODHRA

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

ITA 1875/AHD/2025[2019-20]Status: DisposedITAT Ahmedabad25 Feb 2026AY 2019-20

Bench: Ms. Suchitra Kambleassessment Year 2019-20

For Appellant: Shri M.K. Patel, AdvocateFor Respondent: Shri Rameshwar P. Meena, Sr. D.R

Section 148Section 234ASection 250(6)Section 271ASection 68Section 80PSection 80P(2)(d)

Vandeli Dudh Utpadak Sahakari Mandli Ltd., A.Y. 2019-20 deposit of Rs. 47,847/-, interest from saving bank account of Rs. 16,376/-, interest on securities amounting to Rs. 56,692/-, business receipts amounting to Rs. 2,99,55,643/- , cash deposits of Rs. 5,90,500/-, cash debited

SH. RANDHIR SINGH,SIRSA vs. PCIT ROHTAK, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 494/CHANDI/2024[2013-14]Status: DisposedITAT Chandigarh24 Feb 2026AY 2013-14

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263