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

vi) Hon’ble Karnataka High Court in the case of Pr.CIT & another vs Totagars Co-operative Sales Society, (2017) 392 ITR 0074 (Karn) 7. On the other hand, the ld. DR relied on the orders of the lower authorities. He further submitted that co-operative bank where its entire income is earned from banking activities cannot be termed

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

vi) Hon’ble Karnataka High Court in the case of Pr.CIT & another vs Totagars Co-operative Sales Society, (2017) 392 ITR 0074 (Karn) 7. On the other hand, the ld. DR relied on the orders of the lower authorities. He further submitted that co-operative bank where its entire income is earned from banking activities cannot be termed

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

VI-A) (Business ITR). 9.2 Accordingly, notices u/s 142(1) of the Act was issued to the assessee seeking certain information and documents. In response to the same, the assessee made its submissions by a letter dated 15.02.2021. The assessee society claims that the deduction u/s 80P(2)(d) on the interest earned from FDs with other co-operative societies

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

VI-A under the heading "C.—Deductions in respect of certain incomes", no deduction shall be allowed to him thereunder. Therefore, in cases where no returns have been filed for a particular assessment year, no deductions shall be allowed. This embargo in section 80A(5) would apply, though section 80P is not included in section 80AC. This

INCOME TAX OFFICER, WARD-1, UDUPI vs. KAMBADAKONE RYTARA SEVA SAHAKARI SANGHA LTD, UPPUNDA

section\n80P(2)(d) has not been amended to include co-operative\nbanks explicitly.\n6.\nThe CIT(A) erred in non appreciating/neglecting the fact that\nthe character or nature of interest income received on the\ninvestment or deposits from a scheduled bank or co-\noperative banks is the same. It is not a business income\ntaxable

INCOME TAX OFFICER, WARD 1, UDUPI, UUPI vs. KAMBADAKONE RYTARA SEVA SAHAKARI SANGHA LTD, UDUPI

section\n80P(2)(d) has not been amended to include co-operative\nbanks explicitly.\n6.\nThe CIT(A) erred in non appreciating/neglecting the fact that\nthe character or nature of interest income received on the\ninvestment or deposits from a scheduled bank or co-\noperative banks is the same. It is not a business income\ntaxable

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

vi) Sixthly, the expression "providing credit facilities to its members" does not necessarily mean agricultural credit alone. It was highlighted that the distinction between eligibility for deduction and attributability of amount of profits and gains to an activity is a real one. Since profits and gains from credit facilities given to non-members cannot be said to be attributable

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

68,82,138/-. The ld. AO has raised a demand of Rs.1086,07,00,024/- after charging interest u/s 234B of the Act as per the normal provisions of the Act. 3.2 Aggrieved by the order of the ld. AO, the assessee went in appeal before ld. CIT(A)/NFAC. The ld. CIT(A) partly allowed the appeal

SRI BRAMARAMBA PATTINA SOUHARDA SHAKARI SANGHA NIYAMITHA,MASKI vs. INCOME TAX OFFICER, WARD-1, RAICHUR

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

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year : 2020-21

Section 80P - Interest on Statutory Investments. 1.1. It is submitted that the ONLY issue is: Whether the interest accruing on the statutory investments made in Co-operative/scheduled banks in compliance of the State Societies Act is allowable as business income, which means the same is eligible for the deduction u/ s 80P(2

ARATHI VINAY PATIL ,BANGALORE vs. INCOME TAX OFFICER, WARD-4(3)(4), BENGALURU

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2019-20

2,22,704/- under section 80P of the Act. The issue for consideration before us is that whether once the return of income is filed beyond the prescribed date under section 139(1) of the Act, can the deduction under section 80P of the Act be denied to the assessee, by way of adjustment under section

DCIT,CIRCLE,1(1) HUBBALLI, NAVANAGAR HUBBALLI vs. SIRSI TALUKA AGRICULTURAL PRODUCE CO-OPERATIVE MARKETING SOCIETY LTD , SIRSI

The appeal of the revenue is allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavassessment Year : 2017-18 Dcit, Vs. M/S. Sirsi Taluka Agricultural Produce Co-Op Circle – 1(1), Marketing Society Ltd., Hubballi. 1, Market Yard, Sirsi, Sirsi – 81 401, Karnataka. Pan :Aamas 4143 D Appellant Respondent Assessee By : Shri. S. Prakash Hedge, Ca Revenue By : Ms. Neha Sahay, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 15.07.2024 Date Of Pronouncement : 18.07.2024

VI A case of the assessee was selected for scrutiny. During the course of assessment proceedings, the AO has observed that the assessee society is not giving all the privileges to the nominal members as compared to the regular members. The AO was of the view that there has to be equality among all the members of the society

MADAPURA vs. SBN,KODAGUVS.INCOME TAX OFFICER, WARD-1, MADIKERI

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

VI-A u/s 80P of the Act. However, the ld. CIT(A) did not considered the merits of the case and proper opportunity of being heard to the assessee was not given. As per Form No. 35, the notices were not sent on the mail address provided i.e ajitclients3@gmail.com. and at the time of ITA No.705, 706 & 707/Bang/2024 Page

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

68,020/- and tax liability of Rs.14,08,015/- was paid and there was refund of Rs. 42,340/- . ITA Nos.294 to 296/Bang/2023 Nandi Hospitality Services Pvt. Ltd., Bangalore Page 4 of 22` 4.2. The Learned Deputy Commissioner of Income Tax, CPC has sent communication under section 143(1)(a) of the Act. Since the Authorized Representative does

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

68,020/- and tax liability of Rs.14,08,015/- was paid and there was refund of Rs. 42,340/- . ITA Nos.294 to 296/Bang/2023 Nandi Hospitality Services Pvt. Ltd., Bangalore Page 4 of 22` 4.2. The Learned Deputy Commissioner of Income Tax, CPC has sent communication under section 143(1)(a) of the Act. Since the Authorized Representative does

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

68,020/- and tax liability of Rs.14,08,015/- was paid and there was refund of Rs. 42,340/- . ITA Nos.294 to 296/Bang/2023 Nandi Hospitality Services Pvt. Ltd., Bangalore Page 4 of 22` 4.2. The Learned Deputy Commissioner of Income Tax, CPC has sent communication under section 143(1)(a) of the Act. Since the Authorized Representative does

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. ALLSTATE INDIA PRIVATE LIMITED ,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year: 2018-19

68,037/- on the Short Term Deposits made by it to the tune of Rs. 6,46,88,606/- out of its Surplus Funds temporarily parked in the Current Account held in Citi Bank, Hong Kong and also earned interest of Rs. 6,02,309/- from the Advances of loans to its staff members. The deduction in respect of both