THE MULLANPUR GARIBDAS CO-OP MULTIPURPOSE SOCIETY,MULLANPUR vs. PR. CIT-II, CHANDIGARH

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

disallowed deduction under section 80P on the interest income earned from the FDs maintained in the banks. It was stated that however, the assessee was not eligible for deduction under section 80P on this interest income. It was stated that the issue had not been examined by the AO, nor the assessee had offered any detail regarding claiming deduction

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)

24) to section 2 would have application, Even otherwise, on the principle of mutuality, the Hon’ble Supreme Court in Bangalore Club v. CIT [2013] 350 ITR 509/29 taxmann.com 29 has held that the interest earned on FDRs with banks would not be covered by the principle of mutuality as the transactions were not between the contributors and the beneficiary

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...

24) to section 2 would have application, Even otherwise, on the principle of mutuality, the Hon’ble Supreme Court in Bangalore Club v. CIT [2013] 350 ITR 509/29 taxmann.com 29 has held that the interest earned on FDRs with banks would not be covered by the principle of mutuality as the transactions were not between the contributors and the beneficiary

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

24) to section 2 would have application, Even otherwise, on the principle of mutuality, the Hon’ble Supreme Court in Bangalore Club v. CIT [2013] 350 ITR 509/29 taxmann.com 29 has held that the interest earned on FDRs with banks would not be covered by the principle of mutuality as the transactions were not between the contributors and the beneficiary

THE JAGADHRI CO-OPERATIVE MARKETING CUM PROCESSING SOCIETY LTD.,JAGADHRI vs. THE PR.CIT, PANCHKULA

In the result, the appeal of the assessee is allowed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

disallowance of the deduction claimed which on appeal has been allowed by the Tribunal and thereafter, the question of law which was proposed by the Revenue for the opinion of the Hon’ble High Court was “whether on the facts and circumstances of the case, the Tribunal is right in law in allowing deduction under section 80P(2

THE BALDUHAK CO-OPERATIVE AGRICULTURE SERVICE SOCIETY LTD.,HAMIRPUR vs. ITO, WARD, HAMIRPUR

Bench: Us Are That The Assessee Is A Cooperative

disallowance of the deduction claimed which on appeal has been allowed by the Tribunal and thereafter, the question of law which was proposed by the Revenue for the opinion of the Hon’ble High Court was “whether on the facts and circumstances of the case, the Tribunal is right in law in allowing deduction under section 80P(2

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

disallowance amount, 'an amount equal to one half per cent of the value of the investment, income from which does not or shall not form part of the total income' should be taken into consideration. Thus, it is not all investment but only that which is expressly spelt out in rule 8D(2)(iii) read with section 14A and 24

THE MANDEBAR PRIMARY AGRICULTURE CO-OPERATIVE SOCIETY LIMITED,YAMUNANAGAR vs. ITO, WARD -5, YAMUNA NAGAR

Bench: Us Are That The Assessee Is A Primary Agricultural Cooperative Society Engaged In Providing Credit Facilities To Its Members For Agricultural Operations & Procurement Of Fertilizers For The Purpose Of Supplying It To Its Members. 3.1 During The Year Under Consideration, It Filed Its Return Of Income Claiming Deduction Under Section 80P Amounting To Rs. 40,87,123/- & Which Includes Deduction Amounting To Rs. 29,44,171/- In Respect Of Interest Income On Deposits Placed With Yamunanagar District Central Cooperative Bank.

disallowance of the deduction claimed which on appeal has been allowed by the Tribunal and thereafter, the question of law which was proposed by the Revenue for the opinion of the Hon’ble High Court was “whether on the facts and circumstances of the case, the Tribunal is right in law in allowing deduction under section 80P(2

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

24 of the BOCW Act, 1996 (reference supra-mentioned)\nmandates that all sums received by the Board, including cess transferred to it,\nshall be credited to the “Building and Other Construction Workers' Welfare\nFund," and such fund shall be applied only for meeting expenses for the\nwelfare of workers. This statutory mandate of funds ensures that the Board\ncannot generate

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, SECTOR 17

In the result, this appeal of the Assessee stands dismissed

24 of the BOCW Act, 1996 (reference supra-mentioned)\nmandates that all sums received by the Board, including cess transferred to it,\nshall be credited to the “Building and Other Construction Workers' Welfare\nFund," and such fund shall be applied only for meeting expenses for the\nwelfare of workers. This statutory mandate of funds ensures that the Board\ncannot generate

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. CIT(EXEMPTION), CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

24 of the BOCW Act, 1996 (reference supra-mentioned)\nmandates that all sums received by the Board, including cess transferred to it,\nshall be credited to the “Building and Other Construction Workers' Welfare\nFund,\" and such fund shall be applied only for meeting expenses for the\nwelfare of workers. This statutory mandate of funds ensures that the Board\ncannot generate

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

24 of the BOCW Act, 1996 (reference supra-mentioned)\nmandates that all sums received by the Board, including cess transferred to it,\nshall be credited to the “Building and Other Construction Workers' Welfare\nFund," and such fund shall be applied only for meeting expenses for the\nwelfare of workers. This statutory mandate of funds ensures that the Board\ncannot generate

THE AMBALA CO-OP MARKETING CUM PROCESSING SOCIETY LTD,AMBALA vs. ITO WARD-1 AMBALA, AMBALA CANTT

disallowance of the deduction claimed which on appeal has been allowed by the Tribunal and thereafter, the question of law which was proposed by the Revenue for the opinion of the Hon’ble High Court was “whether on the facts and circumstances of the case, the Tribunal is right in law in allowing deduction under section 80P(2

ITO, WARD 6(1), LUDHIANA vs. SH. SITA RAM SINGLA, LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 18/Chd/2022 "नधा"रण वष" / Assessment Year : 2019-20 Dcit, Central Circle, Smt. Madhubala बनाम Patiala W/O Sh. Krishan Gopal, Ward No.1, Lehargaga, Punjab "थायी लेखा सं./Pan No: Anjpb7890D अपीलाथ"/Appellant ""यथ"/Respondent

section 36(l)(va) r.w.s 2(24)(x) of the Income Tax Act, 1961, which clearly provide for different treatment While the delayed payment of employers contribution is allowable if found before the filing of return wherever employee's contribution is disallowed

RIDE LINK AUTO,LUDHIANA vs. ITO WARD 7 (1), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 18/Chd/2022 "नधा"रण वष" / Assessment Year : 2019-20 Dcit, Central Circle, Smt. Madhubala बनाम Patiala W/O Sh. Krishan Gopal, Ward No.1, Lehargaga, Punjab "थायी लेखा सं./Pan No: Anjpb7890D अपीलाथ"/Appellant ""यथ"/Respondent

section 36(l)(va) r.w.s 2(24)(x) of the Income Tax Act, 1961, which clearly provide for different treatment While the delayed payment of employers contribution is allowable if found before the filing of return wherever employee's contribution is disallowed

TEGSONS INDIA,LUDHIANA vs. ITO, WARD 1(3), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 18/Chd/2022 "नधा"रण वष" / Assessment Year : 2019-20 Dcit, Central Circle, Smt. Madhubala बनाम Patiala W/O Sh. Krishan Gopal, Ward No.1, Lehargaga, Punjab "थायी लेखा सं./Pan No: Anjpb7890D अपीलाथ"/Appellant ""यथ"/Respondent

section 36(l)(va) r.w.s 2(24)(x) of the Income Tax Act, 1961, which clearly provide for different treatment While the delayed payment of employers contribution is allowable if found before the filing of return wherever employee's contribution is disallowed

SANDEEP GUPTA,CHANDIGARH vs. DCIT, CIRCLE 3(1),, CHANDIGARH

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 18/Chd/2022 "नधा"रण वष" / Assessment Year : 2019-20 Dcit, Central Circle, Smt. Madhubala बनाम Patiala W/O Sh. Krishan Gopal, Ward No.1, Lehargaga, Punjab "थायी लेखा सं./Pan No: Anjpb7890D अपीलाथ"/Appellant ""यथ"/Respondent

section 36(l)(va) r.w.s 2(24)(x) of the Income Tax Act, 1961, which clearly provide for different treatment While the delayed payment of employers contribution is allowable if found before the filing of return wherever employee's contribution is disallowed

SH. VIJAY KUMAR SINGH,BADDI vs. ITO , BADDI

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 18/Chd/2022 "नधा"रण वष" / Assessment Year : 2019-20 Dcit, Central Circle, Smt. Madhubala बनाम Patiala W/O Sh. Krishan Gopal, Ward No.1, Lehargaga, Punjab "थायी लेखा सं./Pan No: Anjpb7890D अपीलाथ"/Appellant ""यथ"/Respondent

section 36(l)(va) r.w.s 2(24)(x) of the Income Tax Act, 1961, which clearly provide for different treatment While the delayed payment of employers contribution is allowable if found before the filing of return wherever employee's contribution is disallowed