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“Section 250(4)”

Section References (mined)Section 250Section 250(4)1,077 judgments

The decision most relied on for Section 250(4) is Totgars Co-operative Sale Society Ltd. v. ITO (322 ITR 283), cited in 1,283 judgments on BharatTax.

Leading authorities on Section 250(4)

Totgars Co-operative Sale Society Ltd. v. ITO
322 ITR 283 · 2010 · Supreme Court
1,283
citing judgments

The interest income earned by a cooperative society from investing its surplus funds in fixed deposits with banks is not "derived from" its eligible business activities and is taxable as "income from other sources" under Section 56, thus not qualifying for deduction under Section 80P.

Pr. CIT v. Totagars
395 ITR 611 · 2017 · High Court
1,074
citing judgments

Interest income earned by a cooperative society from surplus deposits or investments held with a cooperative bank is not eligible for deduction under Section 80P(2)(d) of the Act.

Mavilayi Service Co-operative Bank Ltd. v. CIT
431 ITR 1 · 2021 · Supreme Court
999
citing judgments

Section 80P(4) serves as a proviso to Section 80P(1) and (2), excluding only cooperative banks that are cooperative societies and possess an RBI license for banking business. Its purpose is to exclude cooperative banks operating like commercial banks that lend money to the public.

CIT v. SSA’s Emerald Meadows
73 Taxmann.com 248 · 2016 · Supreme Court
953
citing judgments

A notice issued under Section 274 read with Section 271(1)(c) is invalid if it fails to specify whether penalty proceedings are for concealment of particulars of income or furnishing inaccurate particulars of income. Such lack of specificity vitiates the penalty proceedings.

State Bank Of India v. CIT
389 ITR 578 · 2016 · High Court
817
citing judgments

Income arising from a cooperative society's surplus funds invested in short-term deposits and securities is not attributable to the society's core activities and, therefore, is not eligible for exemption under Section 80P(2)(a)(i) of the Income-tax Act.

Pr. Commissioner of Income Tax and Anr. v. Totagars Cooperative Sale Society
392 ITR 74 · 2017 · High Court
762
citing judgments

Interest income earned by a cooperative society from its investments or surplus deposits with a cooperative bank is eligible for deduction under Section 80P(2)(d) of the Income-tax Act, 1961.

Subramanian and Anr. v. Siemens India Ltd. and Anr.
156 ITR 11 · 1985 · High Court
541
citing judgments

When there is a conflict between the decisions of non-jurisdictional High Courts, the view that favors the assessee should be preferred.

Union of India v. Ashish Agarwal
444 ITR 1 · 2022 · Supreme Court
524
citing judgments

Notices issued under the unamended Section 148 of the Income-tax Act between April 1, 2021, and May 4, 2022, must be treated as notices issued under the new Section 148A(b) of the amended law. This requires the Assessing Officer to follow the procedure prescribed under the amended reassessment provisions, including issuing an order under Section 148A(d) before a fresh notice under Section 148.

Judgments citing Section 250(4)

Anil Tarachand Kadu, Ahmednagar vs. Deputy Commissioner of Income Tax, Central Circle -1(1), Pune

ITA 1058/PUN/2023[2013-14]Status: DisposedITAT Pune07 May 2024AY 2013-14

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1058/Pun/2023 िनधा"रण वष" / Assessment Year: 2013-14 Anil Tarachand Kadu, The Deputy Gut No.115, Ranjankhol, V Commissioner Of Income Tilaknagar, Ahmednagar, S Tax, Central Cirlce-1(1), Ahmednagar – 413720. Pune. Pan: Aplpk9182P Appellant/ Revenue Respondent /Assessee Assessee By Shri Vinita Shah – Ar Revenue By Shri Keyur Patel – Cit-Dr Date Of Hearing 02/05/2024 Date Of Pronouncement 07/05/2024 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], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2013-14 Dated 07.08.2023 Emanating From The Penalty Order U/S.271(1)(C) Of The Act, 1961 Dated 20.06.2018. The Assessee Has Raised The Following Grounds Of Appeal : “1. On The Facts & Circumstances Of The Case As Well As In Law, The Learned Cit(A) Has Erred In Passing The Ex-Parte Order, Without Anil Tarachand Kadu [A]

Section 246ASection 250Section 250(4)Section 250(6)Section 251Section 251(1)(a)Section 271(1)(c)

thinks fit or direct the Assessing Officer to make further inquiry and report the result of the same to him as found in Section 250(4) of the Act. Further Section 250(6) of the Act obliges the CIT(A) to dispose of an appeal in writing after stating

Jai Shriram Sahakari Path Sansthan Mariyadit, Pune vs. ITO, Ward 6(4), Pune

ITA 173/PUN/2024[2017-18]Status: DisposedITAT Pune30 Apr 2024AY 2017-18

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.173/Pun/2024 िनधा"रण वष" / Assessment Year : 2017-18 Jai Shriram Sahakari Pat The Income Tax Officer, Sansthan Maryadit, V Ward-6(4), Pune. 1085, Bhawani Peth, S Padmashali Puram, Kamgar Middan, Nr Watar Tank, Pune – 411042. Pan: Aacaj7371A Appellant / Revenue Respondent / Assessee Assessee By None. Revenue By Shri Ramnath P Murkunde – Dr Date Of Hearing 29/04/2024 Date Of Pronouncement 30/04/2024 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], Passed Under Section 250 Of The Income Tax Act, 1961 Dated 10.10.2023. The Assessee Has Raised The Following Grounds Of Appeal : “1. Learned Cit(A) Erred In Law & On Facts In Confirming & The Ito, Ward 6(4), Pune (Learned Ao) Erred In Law & On Facts In Assessing Appellant'S Total Income At Rs.1,17,73,000/- By Making Addition Of The Same Amount U/S 69A Of The Ita, 1961. 2. Learned Cit(A) & The Learned Ao Erred In Law & On Facts In Making Addition U/S 69A Without Appreciating That Cash Deposit By The Appellant Is Not Income Of The Appellant As The Same Amount Was Collected From Msedcl Consumers On Behalf Of Msedcl & Back-To-Back Transferred To Msedcl & Jai Shriram Sahakari Path Sansthan Maryadit [A]

Section 246ASection 250Section 250(4)Section 250(6)Section 251Section 251(1)(a)Section 69A

thinks fit or direct the Assessing Officer to make further inquiry and report the result of the same to him as found in Section 250(4) of the Act. Further Section 250(6) of the Act obliges the CIT(A) to dispose of an appeal in writing after stating