SHREE RAM CO.-OP. CREDIT SOCIETY LTD.,,DAHOD vs. THE INCOME TAX OFFICER, WARD-1,, VADODARA

In the result, the appeal of the assessee is dismissed

gain of business attributable to such activities will be deductible. Earning of interest income from Bank is not activity for which income would be deductible. Therefore, the interest income earned from bank/co-operative bank amounting to Rs. 82,21,635/- was treated as income from other sources u/s. 56 of the act on which deduction u/s. 80P was disallowed. 3. Aggrieved

SARDAR NAGRIK SAHAKARI BANK LTD.,,VADODARA vs. ITO, WARD 3(1)(3),, BARODA

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita Nos.2156 & 2157/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2013-2014 & 2014-2015 Sardar Nagrik Sahakari Bank Ltd Ito, ‘’B’’, Alankar Apartment, Ward 3(1)(3), Vs. Parkarwada, Dandia Bazar, Baroda. Vadodara. Pan: Aaabt2648D

D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeals have been filed at the instance of the Assessee against the two order of the Commissioner of Income Tax (Appeals)- 3, Vadodara [CIT(A) in short] of even dated 31/07/2017 arising in the matter of assessment order passed under s.143(3) of the Income Tax Act, 1961 (here

SARDAR NAGRIK SAHAKARI BANK LTD.,,VADODARA vs. ITO, WARD 3(1)(3),, BARODA

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita Nos.2156 & 2157/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2013-2014 & 2014-2015 Sardar Nagrik Sahakari Bank Ltd Ito, ‘’B’’, Alankar Apartment, Ward 3(1)(3), Vs. Parkarwada, Dandia Bazar, Baroda. Vadodara. Pan: Aaabt2648D

D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeals have been filed at the instance of the Assessee against the two order of the Commissioner of Income Tax (Appeals)- 3, Vadodara [CIT(A) in short] of even dated 31/07/2017 arising in the matter of assessment order passed under s.143(3) of the Income Tax Act, 1961 (here

THE GOVERNMENT SERVANTS CO.-OP. CREDIT LTD.,,VADODARA vs. THE INCOME TAX OFFICER, WARD-3(1)(1),, VADODARA

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

capital and bank interest was eligible for tax exemption u/s 80P of the act. The assessing officer has not accepted the explanation of the assessee and stated that providing credit facilities to its member was a separate and distinct activity from the banking activity. Consequently the assessing officer has treated the interest income earned from nationlised banks /co-operative banks amounting

BARODA CITIZEN COMMUNITY CO. OP. CREDIT SCOIETY LTD.,,VADODARA vs. THE ITO, WARD-1(2)(2), VADODARA

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

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 996 & 1051/Ahd/2019 िनधा"रण वष"/Asstt. Years: 2013-14 & 2014-15 Baroda Citizen Community Co-Op. Credit I.T.O, Society Ltd., Vs. Ward-1(2)(2), 203, 2Nd Floor, Baroda. Ivory Terrace, R.C. Dutt Road, Vadodara.

D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned two appeals have been filed at the instance of the Assessee for the different assessment years against the separate orders of the Learned Commissioner of Income Tax (Appeals)-5, Vadodara, arising in the matter of assessment order passed under s. 143(3) of the Income Tax Act, 1961 (here

BARODA CITIZEN COMMUNITY CO. OP. CREDIT SCOIETY LTD.,,VADODARA vs. THE ITO, WARD-1(2)(2), VADODARA

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

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 996 & 1051/Ahd/2019 िनधा"रण वष"/Asstt. Years: 2013-14 & 2014-15 Baroda Citizen Community Co-Op. Credit I.T.O, Society Ltd., Vs. Ward-1(2)(2), 203, 2Nd Floor, Baroda. Ivory Terrace, R.C. Dutt Road, Vadodara.

D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned two appeals have been filed at the instance of the Assessee for the different assessment years against the separate orders of the Learned Commissioner of Income Tax (Appeals)-5, Vadodara, arising in the matter of assessment order passed under s. 143(3) of the Income Tax Act, 1961 (here

THE DY. COMMISSIONER OF INCOME TAX, SABARKANTHA CIRCLE,, HIMATNAGAR vs. THE SABARKANTHA DISTRICT CENTRAL CO.-OP. MILK PRODUCERS UNION LTD.,, HIMATNAGAR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pramod Kumar & Shri Rajpal Yadavआयकर अपील सं./ Ita No.1905/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2012-13 Dcit, Sabarkantha Circle Vs. Sabarkantha District Co-Op. Himatnagar. Milk Producers Union Ltd. Sabar Dairy, Sub Post Boriya Himatnagar 383 006. Pan : Aaaas 5265 L

80P(2)(d) of the Act. Respectfully following the order of the ITAT, which has been upheld by the Hon’ble High Court in the assessment year 2009-10, we do not find any merit in this ground of appeal. It is rejected. 8 9. Ground No.2: In this ground, grievance of the Revenue is that the ld.CIT

THE ITO, WARD-1(3)(5),, AHMEDABAD vs. M/S. STATE BANK OF INDIA SUP-OFFICIALS CO-OP. CREDIT SOCIETY LTD.,, AHMEDABAD

In the result, appeal filed by the department is dismissed

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

section 80P(2)(d) are not satisfied." ITO vs. State Bank of India Asst.Year –2010-11 2.3 Finally addition of Rs.42,14,854/- was made against the assessee and also penalty proceeding were initiated u/s.271(c) of the I.T. Act. 3. Therefore, assessee preferred appeal before the Hon’ble ITAT vide ITA No.347/Ahd/2014 for Asst. Year 2010-11, in this

THE KHEDA TALUKA SHIKSHAK MANDLI LIMITED,,KHEDA vs. THE PR. CIT-2,, VADODARA

In the result, the appeal of the assessee is partly allowed

D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance of the Assessee against the order of the Pr. Commissioner of Income Tax-2, Vadodara [Ld.CIT in short], dated 02/03/2017 arising in the matter of assessment order passed under s. 263 of the Income Tax Act, 1961 (here-in-after referred

THE ASSTT. COMMISSIONER OF INCOME TAX, SABARKANTHA CIRCLE,, HIMATNAGAR vs. THE SABARKANTHA DISTRICT CO.-OP. MILK PRODUCERS UNION LTD.,, HIMATNAGAR

Appeal of the revenue stands dismissed

80P(2(d) of the Act. Therefore, we feel no need to interfere with the order passed by Ld. CIT(A) and the same is hereby upheld.” During the year as submitted by the assessee in its submission before the ld. CIT(A) discussed at page no. 15 of the CIT(A)’s order that assessee was having

ANKLAV TALUKA EMPLOYEE CO.-OP. CREDIT AND CONSUMER SOCIETY LTD.,,ANAND vs. THE INCOME TAX OFFICER, WARD-1(3)(2),, ANAND

In the result, appeal filed by the assessee is dismissed

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

gains of business attributable to such activities would be deductible. On perusal of schedule forming part of income and expenditure account that the society has also earned interest on Fixed Deposit with other than co.op. Society also which comes to Rs.4,78,938/-which is income from other sources. Earning of interest from other than co-op, society

UMA CO-OP. CREDIT SOCIETY,,KHEDA vs. THE INCOME TAX OFFICER, WARD-5,, NADIAD

In the result, the assessee’s appeal is thus allowed for statistical purposes

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

D E R PER Ms. MADHUMITA ROY - JM: The instant appeal has been filed before us by the assessee against the order dated 07.12.2016 passed by the Commissioner of Income Tax (Appeals)-2, Vadodara under section 143(3) of the Income Tax Act, 1961 arising out of the order dated 28.08.2015 for the Assessment Year 2013-14 with the following

THE DY. CIT., ANAND CIRCLE,, ANAND vs. M/S. KAIRA DIST. CO.-OP. MILK PRODUCERS UNION LTD.,, ANAND

In the result, the appeal of the revenue is dismissed

Bench: Shri Kul Bharat & Shri Waseem Ahmedआयकर अपील सं./Ita No.2218/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T, M/S. Kaira District Co-Op. Milk, Anand Circle, Vs. Producers Union Ltd., Anand. Amul Dairy Road, Anand-388001. Pan: Aaaak8694F

80P(2)(d) held that assessee cannot borrow the money for temporary investment. He has also submitted that even Gujarat High Court in assessee's own case while dealing with issue of re-opening u/s. 148 for disallowing the deduction of interest observed that AO is conscious about the claim made by the assessee and the position of interest earned

GUJARAT FISHERIES CENTRE CO .OPERATIVE ASSOCIATION LIMITED,,AHMEDABDA vs. ITO, WRAD-5(2)(2),, AHMEDABAD

In the result, the appeal of the assessee is dismissed

D.R. Date of hearing : 05-04-2022 Date of pronouncement : 15-06-2022 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This is an appeal filed by the assessee against the order of the ld. Pr. Commissioner of Income Tax, Ahmedabad-5 vide order dated 24/03/2017 passed for the assessment year 2012-13. I.T.A No. 232/Ahd/2018 A.Y. 2012-13 Page

THE CO. OP.CREDIT SOCIETY OF VISANAGAR LTD,VISANAGAR vs. THE ACIT, CIRCLE-PATAN, PATAN

The appeal of the assessee is allowed for statistical purposes

80P(2)(d) of the Act. Therefore, considering the negative effect of this decision of the Hon'ble High Court, the appellant has made an alternative claim that once it is decided that such interest is taxable in the hands of the appellant, then the proportionate expenditure is to be allowed. As per the working provided by the appellant

MR. PRANJAL PATEL,,AHMEDABAD vs. THE PR. CIT-2,, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

d representative has vehemently contended that the order passed by the assessing officer was erroneous and prejudicial to the interest of revenue therefore Ld. Commissioner of income tax has rightly invoked the provision of section 263 of the act. 6. We have hard both the sides and perused used the material on record carefully. We observe that facts

BARODA DIST. CO.OP. MILK PRODUCERS UNION LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(2),, BARODA

In the result assessee’s appeal in ITA No

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

80P(2)(iv) of the Act. The assessee had not debited indirect expenses from the same and therefore relying on the judgment of Gandevi Taluka Khedut Sahakari Sangh Ltd.-vs-CIT reported in 76 Taxman 36 Guj (1994) on the ratio that deduction u/s 80(P)(2)(a)(iv) was to be allowed on net profit and gain

BARODA DIST. CO.OP. MILK PRODUCERS UNION LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(2),, BARODA

In the result assessee’s appeal in ITA No

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

80P(2)(iv) of the Act. The assessee had not debited indirect expenses from the same and therefore relying on the judgment of Gandevi Taluka Khedut Sahakari Sangh Ltd.-vs-CIT reported in 76 Taxman 36 Guj (1994) on the ratio that deduction u/s 80(P)(2)(a)(iv) was to be allowed on net profit and gain

GUJARAT VEPARI MAHAMANDAL SAHKARI AUDYOGIK VASAHAT LIMITED,AHMEDABAD vs. THE ITO, WARD-3(3)(5), AHMEDABAD

The appeal of the assessee is partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble

capital gain of Rs. 16,28,950/-. 5. The Ld. CIT(A) has erred in law and on facts in not dealing of ground of appellant in regards to a deduction allowable U/S 80-P of the Act of Rs. 13,49,634/-. Gujarat Vepari Mahamandal Sahkari Audyogik Vasahat Ltd. vs. ITO, A.Y. 2022-23 6. The appellant craves liberty