DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE vs. M/S COFFEEDAY GLOBAL LIMITED , BANGALORE

In the result, the appeals of the Revenue are partly allowed

Bench: S/Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Ita Nos. 3040 & 3041/Bang/2018 Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Coffee Day Global Limited, Income-Tax, Central Circle-1(3), No.23/2, Coffeeday Square, 3Rd Floor, C.R. Building, Vittal Mallya Road, Queen’S Road, Bengaluru-560 001. Bengaluru-560 001. [Pan: Aabca 5291P]

capital investment in a partnership firm cannot be considered on par with investment in equity and therefore. such investment cannot be considered as for the purpose of earning exempt income, all the more so for the reason that the profits of the partnership firm are taxed in the hands of the firm and hence, not taxed in the hands

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE vs. M/S COFFEEDAY GLOBAL LIMITED , BANGALORE

In the result, the appeals of the Revenue are partly allowed

Bench: S/Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Ita Nos. 3040 & 3041/Bang/2018 Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Coffee Day Global Limited, Income-Tax, Central Circle-1(3), No.23/2, Coffeeday Square, 3Rd Floor, C.R. Building, Vittal Mallya Road, Queen’S Road, Bengaluru-560 001. Bengaluru-560 001. [Pan: Aabca 5291P]

capital investment in a partnership firm cannot be considered on par with investment in equity and therefore. such investment cannot be considered as for the purpose of earning exempt income, all the more so for the reason that the profits of the partnership firm are taxed in the hands of the firm and hence, not taxed in the hands

M/S FABSUN ENGINEERING PVT. LTD.,,BANGALORE vs. ITO, BANGALORE

In the result, the appeal is dismissed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 1998-99

iii) incurring other expenses as Page 4 of 9 would be specified in a scheme to be drawn up by the Central Government. It may be noted that no such scheme had been notified by the Government as on the date of transfer of capital asset by the Assessee. 4. The Assessee claimed before the AO that it proposed

IBM GLOBAL SERVICES INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2000-2001

80J in relation to the profits and where such sale proceeds are credited to gains of the industrial undertaking; and a separate account maintained for the (iv) in computing the depreciation allowance purpose by the assessee with any bank under section 32, the written down value of outside India with the approval of the any asset used for the purposes

TATA ELXSI LIMITED ,BANGALORE vs. DEPUTY COMMISIONER INCOMER TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section

M/S. TATA ELXSI LIMITED., ,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri George George K. & Shri Chandra Poojari

capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section

ASST.C.I.T., BANGALORE vs. M/S WIPRO LTD.,, BANGALORE

Bench: Shri B.R. Baskaran, Accountantmember & Shri Pavan Kumar Gadaleit(Tp)A No.99/Bang/2014 Assessmentyear:2009-10

4 of the assessment order, where it was mentioned that the tax deducted in respect of the payment was made over to the IT(TP)A Nos.99/Bang/2014, 398/Bang/2015, 222/Bang/2016, 492/Bang/2017, 2851/Bang/2-17, 3115/Bang/2018, 151/Bang/2014, 467/Bang/2015 & 609/Bang/2016 M/s. Wipro Limited, Bangalore Page 54 of 202 Government in the subsequent year and, therefore, depreciation could not be deducted on the capital expenditure incurred

DCIT, BANGALORE vs. M/S WIPRO LTD.,, BANGALORE

Bench: Shri B.R. Baskaran, Accountantmember & Shri Pavan Kumar Gadaleit(Tp)A No.99/Bang/2014 Assessmentyear:2009-10

4 of the assessment order, where it was mentioned that the tax deducted in respect of the payment was made over to the IT(TP)A Nos.99/Bang/2014, 398/Bang/2015, 222/Bang/2016, 492/Bang/2017, 2851/Bang/2-17, 3115/Bang/2018, 151/Bang/2014, 467/Bang/2015 & 609/Bang/2016 M/s. Wipro Limited, Bangalore Page 54 of 202 Government in the subsequent year and, therefore, depreciation could not be deducted on the capital expenditure incurred

INCOME TAX OFFICER,WARD-1, HOSPET vs. GAYATRI PATTINA SOUHARDA SAHAKARI SANGHA NIYAMITHA, HOSPET, HOSPET

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

iii) of the Act. On these facts Hon'ble Supreme Court held the assessing officer was right in taxing the interest income indicated above under Section 56 as income from other sources of the Act. Hon'ble Supreme Court, also clarified that, they are confining the said judgment to the facts of that case alone. 9.4 Further the adjudication

M/S MILLENIUM CREDIT CO-OP SOCIETY LTD.,,BANGALORE vs. ITO, BANGALORE

In the result, the assessee's appeal for Assessment Year 2010-11 is allowed

4 of the assessee's appeal are general in nature and not being urged before us, are dismissed as infructuous. 9. In Ground No.3, the assessee denies itself liable to be charged interest under section 234B of the Act. The charging of interest is consequential and mandatory and charging of the same has been upheld by the Hon'ble Apex

ACIT, BANGALORE vs. SUTURES INDIA PRIVATE LIMITED, BANGALORE

In the result, the appeal of revenue is allowed

Bench: Shri A.K. Garodia & Shri Vijay Pal Rao

iii) Turning to the verdict of the Hon’ble Apex Court in the case of Malabar Industrial Co. Ltd. cited supra, with highest regards, we would like to point out that the Hon’ble Highest Court of the country had ruled that – "263. Revision of orders prejudicial to Revenue.---(1) The Commissioner may call for and examine the record

BHAVANA CO-OP CREDIT SOCIETY NIYAMITA ,SIRSI vs. INCOME TAX OFFICER, WARD-1, SIRSI

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21

4) Shri Mahaveer Co-operative Credit Society Ltd. v. Income-Tax Officer, in ITA No. 06/Bang/2025 dated 25/07/2025. 8.18 However on the other hand there are certain judgments of the same Jurisdictional High Court which held that the interest received from Co-operative Bank/Commercial Bank are liable to tax u/s 56 of the Act under the head “ Income from other

GONIKOPPAL PRIMARY RURAL AGRICULTURAL CREDIT CO-OPERATIVE SOCIETY LIMITED ,KODAGU vs. PR. COMMISSIONER OF INCOME TAX, BENGALURU-3, BENGALURU

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21

4) Shri Mahaveer Co-operative Credit Society Ltd. v. Income-Tax Officer, in ITA No. 06/Bang/2025 dated 25/07/2025. 8.18 However on the other hand there are certain judgments of the same Jurisdictional High Court which held that the interest received from Co-operative Bank/Commercial Bank are liable to tax u/s 56 of the Act under the head “ Income from other

SRI RAMASEVA BAHUSARA KSHARIYA CO-OP. SOCIETY LIMITED,SHIMOGA vs. PR. CIT, BENGALURU-1, BENGALURU

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2020-21 M/S. Sri Ramaseva Bahusara Kshariya Co-Op. Society Ltd. 01, Ramanna Setty Park Spm Road, Doddapete So Vs. Principal Cit Shimoga 577 202 Bengaluru-1 Karnataka Pan No :Aaajs0083P Appellant Respondent Appellant By : Sri V. Srinivasan, A.R. Respondent By : Sri Kiran D., D.R. Date Of Hearing : 11.12.2025 Date Of Pronouncement : 30.01.2026

4. Details of all type of investment made in F.Y. 2019-20. M/s. Sri Ramaseva BahusaraKshariya Co-Op. Society Ltd., Shimoga Page 21 of 28 7.13 Further, we take note of the fact that the assessee society in its reply filed on 18/03/2025 contended before the ld. PCIT that the assessee society had claimed deductions

BHARATH CREDIT CO-OPERATIVE SOCIETY LIMITED ,BANGALORE vs. PR. CIT, BANGALORE -1, BANGALORE

In the result the appeal filed by the assessee is allowed

Bench: Ms. Padmavathy S. & Shri Keshav Dubeyassessmentyear:2020-21

4. Aggrieved by the order of the ld. PCIT passed u/s. 263 of the Act, dated 07/03/2025, the assessee has filed the present appeal before this Tribunal. The assessee has also filed a paper book Bharath Credit Co-operative Society Limited, Bengaluru Page 8 of 30 comprising 67 pages containing therein various documents/notice/ reply/objections/Audit report/Copy of ITR along with

ITO, HUBLI vs. M/S KPTC & HESCOM EMPLOYEES CO-OP CREDIT SOCIETY LTD.,, HUBLI

In the result, appeal of the Revenue is dismissed

Bench: Shri. N. V. Vasudevan & Shri. Abraham P. Georgei.T(Tp).A No.666/Bang/2015 (Assessment Year : 2010-11) Income-Tax Officer, Ward -1(4), Hubli ..Appellant V. M/S. Kptc &Hescom Employees Co-Op Credit Society Ltd, Power House Compound, Tabib Land, Hubli ..Respondent Pan : Aaaak0278K

4 it is necessary to notice the relevant provision of law ie., Section 80P(2)(a)(i): “Deduction in 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

ITO, BAGALKOT vs. M/S VIJAY SOUDHARDA CREDIT SAHAKARI LIMITED, BAGALKOT

In the result, appeal of the Revenue is dismissed

Bench: Smt. Asha Vijayaraghavan & Shri. Abraham P. George

4 from the deposits made by the assessee in a nationalized bank out of the amounts which was used by the assessee for providing credit facilities to its members and therefore the said interest amount is attributable to the credit facilities provided by the assessee and forms part of profits and gains of business and therefore he submits the appellate

ITO, VIJAYAPUR vs. M/S SIDDASIRI PATTIN SOUHARDA SAHAKARI NIYAMIT, VIJAYAPUR

In the result, appeal of the Revenue is dismissed

Bench: Smt. Asha Vijayaraghavan & Shri. Abraham P. George

4 from the deposits made by the assessee in a nationalized bank out of the amounts which was used by the assessee for providing credit facilities to its members and therefore the said interest amount is attributable to the credit facilities provided by the assessee and forms part of profits and gains of business and therefore he submits the appellate