SRI JIHVESHWARA CREDIT CO-OPERATIVE SOCIETY LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD 2(2)(5), BANGALORE, BANGALORE

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

C’ BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE-PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 547 to 551/Bang/2023 Assessment Years : 2013-14 to 2015-16, 2017-18 & 2018-19 M/s. Sri Jihveshwara Credit Co-op. Society Ltd., 125, Swakulasali Sangha The Income Tax Building, Officer, BVK Iyengar Road Cross, Ward – 2(2)(5), Bangalore. Huriopet

SRI JIHVESHWARA CREDIT CO-OPERATIVE SOCIETY LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD 2(2)(5), BANGALORE, BANGALORE

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

C’ BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE-PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 547 to 551/Bang/2023 Assessment Years : 2013-14 to 2015-16, 2017-18 & 2018-19 M/s. Sri Jihveshwara Credit Co-op. Society Ltd., 125, Swakulasali Sangha The Income Tax Building, Officer, BVK Iyengar Road Cross, Ward – 2(2)(5), Bangalore. Huriopet

SRI JIHVESHWARA CREDIT CO-OPERATIVE SOCIETY LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD 2(2)(5), BANGALORE

In the result, this issue in ITA No

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

C’ BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE-PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 547 to 551/Bang/2023 Assessment Years : 2013-14 to 2015-16, 2017-18 & 2018-19 M/s. Sri Jihveshwara Credit Co-op. Society Ltd., 125, Swakulasali Sangha The Income Tax Building, Officer, BVK Iyengar Road Cross, Ward – 2(2)(5), Bangalore. Huriopet

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

Disallowance of deduction u/s 80P(2)(a)(i) of the Income Tax Act, 1961. 13.1 The ld. A.R. submitted that the interest income from investments in various co-operative societies and banks are entitled for deduction u/s. 80P(2)(a)(i) of the Act. The details of the interest from investments in Co-operative Banks are as follows: Interest

INCOME TAX OFFICER WARD-5(2)(3), BANGALORE vs. M/S THE KARNATAKA STATE CO-OPERATIVE HOUSING FEDERATION LIMITED , BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

disallowed by the Assessing Officer. The Assessing Officer held that the assessee is primarily engaged in the business of banking and in view of the insertion of sub- 2 M/s.The Karnataka State Co-op.Ho.Fed.Ltd. section (4) to section 80P of the Act with effect from 001.04.2007, the assessee is not entitled to the benefit of deduction u/s 80P(2

THE BELTHANGADY CO-OPERATIVE AGRICULTURAL SANGHA LIMITED,BELTHANGADY vs. INCOME TAX OFFICER, WARD-1, , PUTTUR

In the result appeal of the assessee is hereby partly allowed for

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

disallowance made by the AO under the provisions of section 80P(2)(a)(i) of the Act. 3. Briefly stated facts are that the Assessee is an Agricultural Co- Operative Society registered under the Karnataka Co-operative Societies Act, 1959. The Society is engaged in accepting deposits from members and lending the same to its members. For the relevant assessment

INCOMETAX OFFICER, WARD-1(1), TIPTUR vs. SRIUDAYARAVI CREDIT CO-OP, TIPTUR

In the result, appeals of the Revenue are dismissed

Bench: Shri.Laxmi Prasad Sahu & Shri. Keshav Dubey

c) The learned AO disallowed deduction u/s 80P of the Act as theprinciple of mutuality does not exist between_resident/regular_3 members and nominal members and hence, it is not eligible for deduction under section 80P(2

M/S. PRATHAMIKA KRUSHI PATTINA SAHAKARA NIYAMITA,HOSAPETE vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, KALABURGI

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowance of NPA provision would result in enhanced profits eligible for the deduction u/s 80P(2)(a)(i) and consequently, there was no prejudice to the Revenue to justify revision u/s 263. 2.4 The learned PCIT failed to appreciate that it is incumbent on his part to point out a specific `error’ in the assessment order to assume jurisdiction

M/S. SHRI MAHISHASURAMARDINI URBAN CO-OPERATIVE CREDIT SOCIETY LIMITED,HAVERI vs. INCOME TAX OFFICER, WRD-1, HAVERI

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

Bench: Shri Chandra Poojari

80P of the Income-tax Act. We thus answer substantial questions of law B and C formulated and enumerated above.” 10.3 I have gone through the judgments relied upon by both the parties. In my opinion, the assessment year involved in the present appeal is A.Y. 2017-2018 and the judgment of the Hon’ble Kerala High Court

M/S NAGASHETTIKOPPA CHIBBALAGERI VYAVASAYA SEVA SAHAKARI SANGHA NIYAMIT,UTTARA KANNADA vs. INCOME TAX OFFICER, WARD-2(3), HUBBALLI

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

Bench: Shri Chandra Poojariassessment Year : 2017-18

disallowance of deduction u/s 80P(2)(a)(i) amounting to Rs.5,02,478.00 regarding interest received from cooperative institutions. He also made additions as income from PDS SALES income of Rs.40,831.00 and determined the total income of Rs.4,93,310.00 after giving deduction of Rs.50000.00 u/s 80P(2)(c) of the Act and passed an order

M/S. BHARATHI CO-OPERATIVE CREDIT SOCIETY LTD,BENGALURU vs. INCOME TAX OFFICER, WARD-7(2)(3), BENGALURU

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

C”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM ITA No.793/Bang/2022 : Asst.Year 2015-2016 M/s.The Bharathi Co-operative The Income Tax Officer Credit Society, #1718, 3rd Block Ward 7(2)(1) v. 9th Main Road, Jayanagar Bangalore. Bangalore – 560 011. PAN : AAALT0604R. (Appellant) (Respondent) Appellant by : Sri.Narendra Sharma, Advocate Respondent by : Smt.Prayadarshini Baseganni, Addl.CIT-DR Date of Pronouncement

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.

C bench. Bangalore ITA 1003/2024. 3. As per the decision of the Various hjudicial authorities , the cooperative Bank is considered as Co-Operative Society bank , because, A reading of the definition as per section 2(19) of Income tax act 1961, would make it clear that 'Co-operative Society' means a Co-operative Society registered under Cooperative Societies

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.

C bench. Bangalore ITA 1003/2024. 3. As per the decision of the Various hjudicial authorities , the cooperative Bank is considered as Co-Operative Society bank , because, A reading of the definition as per section 2(19) of Income tax act 1961, would make it clear that 'Co-operative Society' means a Co-operative Society registered under Cooperative Societies

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.

C bench. Bangalore ITA 1003/2024. 3. As per the decision of the Various hjudicial authorities , the cooperative Bank is considered as Co-Operative Society bank , because, A reading of the definition as per section 2(19) of Income tax act 1961, would make it clear that 'Co-operative Society' means a Co-operative Society registered under Cooperative Societies

M/S. BHAVASAR KSHATRIYA CO-OPERATIVE CREDIT SOCIETY LIMITED,HUBBALLI vs. INCOME TAX OFFICER WARD-1(1), HUBBALLI

In the result, all the three appeals filed by assessee stands allowed for statistical purposes

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Appeal No. Appellant Respondent Year The Income-Tax

c) of section 30, section 31 and [sub-sections (1) [***] and (2)] of section 32 and subject to the provisions of [section 38]; [(iia) in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or [fifteen] thousand rupees, whichever is less. Explanation

M/S. BHAVASAR KSHATRIYA CO-OPERATIVE CREDIT SOCIETY LIMITED,HUBBALLI vs. ASSISTANT DIRECTOR OF INCOME TAX, CPC, BANGALORE

In the result, all the three appeals filed by assessee stands allowed for statistical purposes

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Appeal No. Appellant Respondent Year The Income-Tax

c) of section 30, section 31 and [sub-sections (1) [***] and (2)] of section 32 and subject to the provisions of [section 38]; [(iia) in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or [fifteen] thousand rupees, whichever is less. Explanation

M/S. BHAVASAR KSHATRIYA CO-OPERATIVE CREDIT SOCIETY LIMITED,HUBBALLI vs. INCOME TAX OFFICER WARD-3(3), HUBBALLI

In the result, all the three appeals filed by assessee stands allowed for statistical purposes

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Appeal No. Appellant Respondent Year The Income-Tax

c) of section 30, section 31 and [sub-sections (1) [***] and (2)] of section 32 and subject to the provisions of [section 38]; [(iia) in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or [fifteen] thousand rupees, whichever is less. Explanation

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

disallowed the deduction under Section 80P(2)(a)(i) holding that the appellant/assessee is neither a primary agricultural credit society nor a primary co-operative agricultural and rural development bank. The Ld.AO therein held that the appellant/assessee is a "co-operative bank" and thus, was hit by the provisions of Section 80(P)(4) and was not entitled