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

68,500 Bank Ltd 29,76,150 Tumkur Grain Merchant co-op 2,87,500 Bank Ltd 32,72,084 Bharat Co-op Bank (Mumbai)ltd 9,23,847 2,15,220 Subramanyeshwara co-op Bank Ltd 2,50,000 ITA Nos.2347 & 2348/Bang/2024 & CO Nos.4 & 5/Bang/2025 M/s. Bangalore Credit Co-operative Society Ltd., Bangalore Page 16 of 44 Bharat

SANGAM CO-OP CREDIT SOCIETY,BAGALKOT vs. INCOME-TAX OFFICER WARD-2 , BAGALKOT

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

68 & 69/Bang/2023 Page 12 of 18 relation to" can include within its ambit and scope even the interest income earned by the respondent-assessee, a co-operative Society from a Co- operative Bank. This exclusion by section 80P(4) of the Act even though without any amendment in section 80P(2)(d

SANGAM CO-OP CREDIT SOCIETY,BAGALKOT vs. INCOME-TAX OFFICER WARD 1& TPS, BAGALKOT

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

68 & 69/Bang/2023 Page 12 of 18 relation to" can include within its ambit and scope even the interest income earned by the respondent-assessee, a co-operative Society from a Co- operative Bank. This exclusion by section 80P(4) of the Act even though without any amendment in section 80P(2)(d

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

d) of section 80P(2), the interest or dividend income derived by a co-operative society from investments with other co-operative society is also eligible for the deduction whole of such income. (Para 35 of the Judgment) (iv) The restrictive clause in sub-section (4) of section 80P applies only a co-operative bank

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

d) of the Act refers to the interest and dividends earned from investments in another co-operative society only & thus this deduction cannot be extended to the interest income earned from the investment in any co-operative bank or any scheduled banks. Further, the AO reiterated that deduction u/s 80P is not at all applicable to the entities registered

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

68,500 Tumkur Grain Merchant co-op Bank Ltd 32,72,084 2,87,500 Bharat Co-op Bank (Mumbai)ltd 9,23,847 2,15,220 Subramanyeshwara co-op Bank Ltd 2,50,000 Bharat Co-op Bank Ltd 7,12,500 Grain Merchant Co-op Bank Ltd 5,62,500 1,03,463 Karnataka State Co-operative Apex

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

68,82,138/-. The ld. AO has raised a demand of\nRs.1086,07,00,024/- after charging interest u/s 234B of the Act as\nper the normal provisions of the Act.\n3.2 Aggrieved by the order of the ld. AO, the assessee went in\nappeal before ld. CIT(A)/NFAC. The Id. CIT(A) partly allowed the\nappeal

MINORITY CO OP CREDIT SOCIETY LTD, BAGALKOT,BAGALKOT vs. ITO W(1), BAGALKOT, BAGALKOT

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

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2017-18

d) of the Act. Further, we make it clear that the assessee is not entitled for deduction u/s 80P(2)(a)(i) of the Act in view of judgement of Hon’ble Supreme Court in the case of Totgars Co-operative Sale Society Ltd. (322 ITR 283) (SC), wherein held as follows: “The words “the whole of the amount

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HUBBALLI vs. M/S. KARNATAKA VIKAS GRAMEEN BANK LIMITED, DHARWAD

In the result, the appeal of assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2016-17

d) of Central Cooperative Bank has been defined and he also referred to sec. 2(p) which is definition of regional rural banks. He also relied on the judgment of Hon’ble High Court of Allahabad which is placed on record. ITA Nos.611 & 720/Bang/2020 Page 11 of 27 1. PCIT Vs. Baroda Uttar Pradesh Gramin Bank [2022] 138 taxmann.com

M/S KARNATAKA VIKAS GRAMEENA BANK,DHARWAD vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), HUBBALLI

In the result, the appeal of assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2016-17

d) of Central Cooperative Bank has been defined and he also referred to sec. 2(p) which is definition of regional rural banks. He also relied on the judgment of Hon’ble High Court of Allahabad which is placed on record. ITA Nos.611 & 720/Bang/2020 Page 11 of 27 1. PCIT Vs. Baroda Uttar Pradesh Gramin Bank [2022] 138 taxmann.com

BELVE VYAVASAYA SEVA SAHAKARI SANGHA LIMITED ,UDUPI vs. INCOME TAX OFFICER, WARD-2, UDUPI

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

d) of the Act for the express reason that deduction can be claimed under this section only in respect of income by way of interest or dividends earned by a Co-operative society / from its investments with any other co-operative society, which was not the case here. 7.23 As regards the deduction claimed u/s 80P(2

BELVE VYAVASAYA SEVA SAHAKARI SANGHA LIMITED,UDUPI vs. INCOME TAX OFFICER, WARD-2, UDUPI

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

d) of the Act for the express reason that deduction can be claimed under this section only in respect of income by way of interest or dividends earned by a Co-operative society / from its investments with any other co-operative society, which was not the case here. 7.23 As regards the deduction claimed u/s 80P(2

YEDAMANGALA VYAVASAYA SEVA SAHAKARI BANK NIYAMITHA,YEDAMANGALA, SULLIA vs. INCOME TAX OFFICER WARD 1 PUTTUR, PUTTUR, DAKSHINA KANNADA

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

d) of the Act. Further erred in rejecting the alternative plea to allow proportionate cost under section 57 of the Act. 3. The facts in brief are that the assessee is a primary agricultural cooperative society and filed return of income for A.Y. 2018-19 declaring total income at ₹ 37,800/- after claiming deduction under section 80P(2

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

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

Bench: Shri George George Kassessment Year : 2017-18 M/S. Canara Bank Staff Credit Co-Operative Vs. Ito, Society Ltd., Ward – 7(2)(2), No.26, 8Th Main Road, Bengaluru. 6Th Cross, Sampangiramanagar, Bengaluru – 560 027. Pan : Aaaac 0152 A Appellant Respondent Assessee By : Shri. Suresh Muthukrishna A, Ca Revenue By : Shri. Ganesh R Ghale, Advocate, Standing Counsel For Revenue. Date Of Hearing : 03.10.2023 Date Of Pronouncement : 03.10.2023

d) of the Act under the facts and circumstances of the Appellant's case. Page 2 of 6 4. Without prejudice to the above, the authorities below have erred in denying the claim of the Appellant u/s. 80P(2)(a)(i) on Rs. 13,68,973/- being the Interest earned of the Statutory deposits maintained by the Society against

SRI ANANTHAPADMANABHA CREDIT CO-OPERATIVE SOCIETY LIMITED,KARKALA vs. INCOME TAX OFFICER, WARD- 3, UDUPI

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

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year: 2016-17

68,554/- in respect of the profits earned by the appellant M/s. Sri Ananthapadmanabha Credit Co-operative Society Ltd., Karkala Page 2 of 8 from the business of providing credit facilities to its members under the facts and in the circumstances of the appellant's case. 3. The learned CIT[A] erred in holding that the business of providing credit

SHREE BASAVESHWAR CREDIT CO-OP SOCIETY LIMITED,HUNGUND vs. INCOME-TAX OFFICER, WARD-1, BAGALKOT

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

68,149/- to pigmy agents paid during the year and no tax had been deduction at source as per Chapter XVII – B. Accordingly, he disallowed as per the provisions of section 40(a)(ia) of the Act and added back to the total income of the assessee. Accordingly, the total income was assessed at Rs.23,77,263/-. Aggrieved from

THE NARAGUND TALUKA PRATHAMIKA SHIKSAK SHIKSAKIYAR CO OP CREDIT S LIMITED ,NARGUND vs. INCOME TAX OFFICER, WARD-1, GADAG

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2018-19

68,586/-. The assessee challenged the said order before the Ld.CIT(A) and contended that the interest income are infact attributable to the banking business of the assessee and the other income of rent received is also related to the income from house property owned by the assessee and therefore the disallowance made by the AO is not correct

M/S. SHRI SARASWATHI CREDIT SOUHARDA SAHAKARI SANGHA LIMITED ,PUTTUR vs. INCOME TAX OFFICER, WARD-1, PUTTUR

Bench: Ms. Padmavathy S. & Shri Prakash Chand Yadavshri Saraswathi Credit

68,28,561/- 4. 2017-18 2,34,70,800 5. 2018-19 2,67,08,210/- 2.2 The same has been denied. Against this assessee is in appeal before us. 3. We have heard the rival submissions and perused the materials available on record. The Hon'ble Apex Court in the case of Mavilayi Service Co-operative Bank