M/S. PRATHAMIKA KRUSHI PATTINA SAHAKARA NIYAMITA,HOSAPETE vs. INCOME TAX OFFICER, WARD-2, BALLARI

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

Bench: Shri Laxmi Prasad Sahuprathamika Krishi Pattina Vs The Income Tax Officer Sahakara Sangha Niymit Ward - 2 No. 350, Ward No. 15, Hospet 583201 Amaravathi Village, Hospet Tq. Ballari - 583201 Pan – Aaajp0326N (Appellant) (Respondent) Assessee By: Shri Siva Prasad Reddy, Irs (Retd) Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 13.02.2023 Date Of Pronouncement: 14.02.2023 O R D E R Per: Laxmi Prasad Sahu, A.M. This Is An Appeal Filed By The Assessee Against The Order Passed By The Learned Cit(A)/Nfac, Delhi In Appeal Din & Order No. Itba/Nfac/S/ 250//2022-23/1047496227(1) Dated 18.11.2022 For Ay 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal: - “1. The Impugned Assessment Order Made U/S 143(3) Of The Act Dated, 25-11-2019, Is Arbitrary & Opposed To The Facts Of The Case & The Principles Of Natural Justice & Therefore, The Same Is Liable To Be Vacated As Void. 2. The Learned Cit(A) Failed To Appreciate: (I) That The Interest Income Accruing From The Investments Made In Statutory Compliance Of The Provisions Of The State Co-Operative Societies Act, 1959 Is Eligible For The Deduction As Business Income U/S 80P(2)(A)(I) Of The Act.

L Account it was observed that the assessee has credited bank interest as under: - i) BDCC Bank FD interest Rs. 34,32,871/- ii) BDCC bank BDR interest Rs,25,712/- iii) BDCC bank SB interest Rs.5,379/- iv) BDCC bank Reserve fund interest Rs.5,379/- Total Rs.36,55,182/- 4. During the course of assessment proceedings the learned

INCOME TAX OFFICER, WARD-7(2)(1), BENGALURU, BANGALORE vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED , BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains that are derived from the export. There cannot be any doubt that interest income earned by members credit co-operative society can said to be “attributable to” the business of providing credit facilities to its members. Kindly note that the deduction u/s. 80P is not with respect to an activity but with reference to business as a whole

CANARA BANK,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

Bench: SHRI WASEEM AHMED, ACCOUNTANT MEMBER\nAND\nSHRI KESHAV DUBEY, JUDICIAL MEMBER\nITA No.210/Bang/2024\nAssessment Year: 2017-18\nM/s Canara Bank\nFM wing, Head Office,\n112, J.C. Road\nBangalore 560002\nVs.\nDCIT\nCircle-2(1)(1)\nBangalore\nPAN NO : AAACC6106G\nAPPELLANT\nRESPONDENT\nITA No.222/Bang/2024\nAssessment Year: 2017-18\nDCIT\nCircle-2(1)(1)\nBangalore\nVs.\nM/s Canara Bank\nFM wing, Head Office,\n112, J.C. Road\nBangalore 560 002\nAPPELLANT\nRESPONDENT\nITA No.1154/Bang/2023\nAsses

80P. The Apex court\nhad categorically held that investments made by a banking concern\nare part of the business of banking. In the present case also the\ninvestments held by banks are treated only as part of the\nbusiness of banking only but not as Stock in Trade but as a Capital Asset.\n8.4 Further, both the parties also relied

NAGINI CO-OPERATIVE CREDIT SOCIETY LIMITED ,BANGALORE vs. INCOME TAX OFFICER, WARD-6(2)(1), BANGALORE

In the result, the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

L, CA Revenue by : Shri Subramanian .S, JCIT-DR Date of Hearing : 20-02-2025 Date of Pronouncement : 08-04-2025 ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER These are the appeals filed by the assessee challenging the orders of the NFAC, Delhi all dated 08/11/2024 in respect of the A.Ys. 2016-17, 2018-19 and 2020-21. 2. All these

NAGINI COOPERATIVE CREDIT SOCIETY LIMITED ,BANGALORE vs. INCOME TAX OFFICER, WARD-6(2)(1), BANGALORE

In the result, the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

L, CA Revenue by : Shri Subramanian .S, JCIT-DR Date of Hearing : 20-02-2025 Date of Pronouncement : 08-04-2025 ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER These are the appeals filed by the assessee challenging the orders of the NFAC, Delhi all dated 08/11/2024 in respect of the A.Ys. 2016-17, 2018-19 and 2020-21. 2. All these

NAGINI COOPERATIVE CREDIT SOCIETY LIMITED ,BANGALORE vs. INCOME TAX OFFICER, WARD-6(2)(1), BANGALORE

In the result, the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

L, CA Revenue by : Shri Subramanian .S, JCIT-DR Date of Hearing : 20-02-2025 Date of Pronouncement : 08-04-2025 ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER These are the appeals filed by the assessee challenging the orders of the NFAC, Delhi all dated 08/11/2024 in respect of the A.Ys. 2016-17, 2018-19 and 2020-21. 2. All these

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

L A/c, the AO also noticed that the assessee has debited a sum of Rs.5,62,29,921/- as interest paid to its members, Rs.5,12,299/- as pigmy commission paid & Rs.50,00/- as Audit Fee. However the assessee failed to deduct TDS as per the provisions contained in Section 194A, 194H & 194J of the Act respectively. In the event

THE CHITRADURGA CITY MULTI PURPOSE CO-OP SOCIETY,CHITRADURGA vs. CIT, DAVANGERE

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

Bench: Shri. N. V. Vasudevan & Shri. Abraham P. George

gains and the business attributable to the banking activities of the assessee. It is their further submission that clauses (a) to (f) of sub-section (2) of section 80P of the Act are mutually exclusive and independent of each other. It is also their submission that so far as clause (a)(i) of sub-section (2) of section 80P

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

L account. Accordingly, the notices u/s 143(2) as well as 142(1) of the Act along with show cause notices were issued from time to time calling for the details. In response to statutory notices, the assessee filed the details as called for on 14/07/2021 & 28/03/2022. The AO after proper examination of the details along with the documentary evidences/written

M/S. THE BHAVASARA KSHATRIYA CO-OPERATIVE SOCIETY LIMITED,MYSURU vs. INCOME TAX OFFICER, WARD-2(1), MYSURU

Bench: Shri Chandra Poojari & Ms. Madhumita Roym/S Bhavasara Kshatriya Co- Operative Society Ltd., 279, Benkinawab Street, Mandi Mohalla, Mysureu-570 001. Pan – Aadat 2458 F Appelant Assessee By : Shri V Srinivasan, Advocate Revenue By : Shri Ganesh R Gale, Standing Counsel For Dept. Date Of Hearing : 03.01.2024 Date Of Pronouncement: 03.01.2024

L -c9 days in filing the appeal before the Hon'ble Tribunal is due to reasonable cause and on account of circumstances beyond our control and the delay was neither intentional, willful nor deliberate and was occasioned for the reasons stated above. 13. That, it is, therefore, prayed that the delay of 459 days in filing the appeal may kindly

JAMMANAHALLY PRATHAMIKA KRISHI PATTINA SAHAKARA SANGHA,SAKLESHPUR vs. INCOME TAX OFFICER, WARD -2, HASSAN

In the result ITA No. 192/Bangalore/2025 filed by the assessee is allowed

Bench: Shri Prashant Maharishi

L. Rs. v. Special Deputy Collector (LA), reported in MANU/SC/0285/2024 : 2024:INSC:286, 6. the fact is required to be noted that the there are two appeals on the same subject matter for the same assessment year filed by the assessee in ITA No. 192/Bangalore/2025 as well as ITA No. 341/Bangalore/2025. I do not have an intimation that

JAMMANAHALLY PRATHAMIKA KRISHI PATTINA SAHAKARA SANGHA,BALLUPET vs. INCOME TAX OFFICER, WARD-2, HASSAN

In the result ITA No. 192/Bangalore/2025 filed by the assessee is allowed

Bench: Shri Prashant Maharishi

L. Rs. v. Special Deputy Collector (LA), reported in MANU/SC/0285/2024 : 2024:INSC:286, 6. the fact is required to be noted that the there are two appeals on the same subject matter for the same assessment year filed by the assessee in ITA No. 192/Bangalore/2025 as well as ITA No. 341/Bangalore/2025. I do not have an intimation that

SREESHARADA CREDIT CO-OPERATIVE SOCIETY LTD,UDUPI vs. ITO WARD- 1&TPS , UDUPI

In the result both the appeals filed by the assessee are allowed

Bench: Shri Prashant Maharishi

l society Ltd versus income tax officer 188 taxmann 282 (Supreme Court) and also the decision of the honourable Karnataka High Court and held that such interest income is not eligible for deduction under section 80 P (2) (a) (i) of the act as it is chargeable to tax as income under the head income from other sources under section

SREESHARADA CREDIT CO-OPERATIVE SOCIETY LTD,UDUPI vs. ITO WARD- 1&TPS , UDUPI

In the result both the appeals filed by the assessee are allowed

Bench: Shri Prashant Maharishi

l society Ltd versus income tax officer 188 taxmann 282 (Supreme Court) and also the decision of the honourable Karnataka High Court and held that such interest income is not eligible for deduction under section 80 P (2) (a) (i) of the act as it is chargeable to tax as income under the head income from other sources under section

ITO, BAGALKOT vs. M/S RAMALINGESHWAR CREDIT CO-OP SOCIETY LTD.,, BAGALKOT

In the result, the appeal of the revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

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, the sums specified in sub-section (2), in computing the total income of the assessee. 4 ITA No.1213

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, appeal of the revenue in ITA No

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

80P. The Apex court had categorically held that investments made by a banking concern are part of the business of banking. In the present case also the investments held by banks are treated only as part of the business of banking only but not as a Stock in Trade but as a Capital Asset. 8.4 Further, both the parties also

WIPRO LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

80P, Doddakannellii, Income-tax, Sarjapur Road, Circle-7(1)(2) Bangalore 560 035 Bangalore. PAN: AAACW 0387R APPELLANT RESPONDENT Appellant by : Shri Sandeep Huilgol, Advocate Respondent by : Dr. Manjunath Karkihallli, CIT(DR)(ITAT), Bengaluru. Date of hearing : 03.04.2023 Date of Pronouncement : 14.06.2023 O R D E R Per Laxmi Prasad Sahu, Accountant Member The appeal filed by the assessee

M/S. WIPRO LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranit(Tp)A No.2556/Bang/2019 Assessment Year : 2015-16

80P, Doddakannellii Deputy Commissioner of Sarjapur Road Income-tax Vs. Bangalore 560 035 Circle-7(1)(2) Bangalore PAN NO : AAACW0387R APPELLANT RESPONDENT Appellant by : Shri S. Ganesh, Sr. AR Respondent by : Shri T. Roumuan Paite, D.R. Date of Hearing : 14.03.2022 Date of Pronouncement : 23.05.2022 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: The appeal filed