THE MULLANPUR GARIBDAS CO-OP MULTIPURPOSE SOCIETY,MOHALI vs. DCIT, C-6(1), MOHALI

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

gains of business' need to be given weightage, ITA 515/CHD/2017 ITA 569/CHD/2018 & ITA 645/CHD/2019 10 attributable to one of the activities specified in section 80P(2)(a), that it had been held that these words emphasize that the income in respect of which deduction is sought must constitute the operational income and not the other income which accrues

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

d) of the Act. 9.5 Further, in a land mark judgment in the case of M/s. Bangalore Club vs. Commissioner of Income tax (supra) as quoted by the AO, the Hon'ble Supreme Court of India has gone into minute details for deciding the nature/character of "Principle of Mutuality", under which the tax exemption has been claimed by various Societies

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं . / ITA No.160, 161 & 162/ Chd/2023 निर्धारण वर्ष / Assessment Year : 2017-18, 2012-13 & 2013-14 The Jyoti Co-operative Non Agricultural Thrift & Credit Society Ltd. Sirmour, Solan, HP-173025 स्थायी लेखा सं. / PAN NO: AAABT1453G अपीलार्थी/Appellant बनाम The ITO H.P Ward-Nahan, Sirmour प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, Advocate राजस्व की ओर से / Revenue by : Dr. Ranjeet K

d) of the Act. 9.5 Further, in a land mark judgment in the case of M/s. Bangalore Club vs. Commissioner of Income tax (supra) as quoted by the AO, the Hon'ble Supreme Court of India has gone into minute details for deciding the nature/character of "Principle of Mutuality", under which the tax exemption has been claimed by various Societies

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

d) of the Act. 9.5 Further, in a land mark judgment in the case of M/s. Bangalore Club vs. Commissioner of Income tax (supra) as quoted by the AO, the Hon'ble Supreme Court of India has gone into minute details for deciding the nature/character of "Principle of Mutuality", under which the tax exemption has been claimed by various Societies

THE PUNJAB STATE FEDERATION OF COOPERATIVE HOUSE BUILDING SOCIETIES LTD.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result, both the above appeals of the Assessee are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

capital gain. 4 7. Having found every ground covered by binding decisions against the assessee, the Ld. CIT(A) dismissed the appeal in full. 8. Against the order of the Ld. CIT(A) the assessee preferred in appeal before the Tribunal. 9. The assessee has filed an application under section 158A(1) of the Act, mentioning therein that the assessee

THE PUNJAB STATE FEDERATION OF COOPERATIVE HOUSE BUILDING SOCIETIES LTD.,CHANDIGARH vs. DCIT, CHANDIGARH

In the result, both the above appeals of the Assessee are dismissed

Bench: the appeal is finally heard.

capital gain. 4 7. Having found every ground covered by binding decisions against the assessee, the Ld. CIT(A) dismissed the appeal in full. 8. Against the order of the Ld. CIT(A) the assessee preferred in appeal before the Tribunal. 9. The assessee has filed an application under section 158A(1) of the Act, mentioning therein that the assessee

DCIT, CIRCLE, PATIALA vs. M/S PUNJAB STATE POWER CORPORATION LTD., PATIALA

In the result, ground no. 1 & 3 of the Revenue’s appeal is allowed and ground no

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

D, which contain special provisions for computing profits and gains from certain specified categories of businesses. It is not the case that the assessee is covered under any of such special provisions. But for that, section 28 contains a list of income which shall be chargeable to tax under this head. This section contains clauses (i) to (vii). Clause

M/S PUNJAB STATE COOPERATIVE FED. OF,CHANDIGARH vs. DCIT,, CHANDIGARH

The appeal stand dismissed

Bench: SHRI RAJPAL YADAV (Vice President), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2002-03 arises out of an order of learned Commissioner of Income Tax (Appeals), Chandigarh [CIT(A)] dated 26-02-2009 in the matter of an assessment framed by Ld. Assessing Officer

PUNJAB STATE COOP. BANK LTD.,CHANDIGARH vs. ACIT, CL-2(1), CHANDIGARH

In the result the impugned order of Ld

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

80P(2)(a)(i) of the Income Tax Act, prior to the amendment in the said section and is a regular assessee with the Income Tax Department through the Assistant Commissioner of Income Tax Circle 2(1) Chandigarh. 3. That the assessee society filed its return for the year under consideration on 30th September 2013 declaring therein