SHRI T.N. RAJAMOHAN,CHENNAI vs. ACIT, CHENNAI

In the result, the assesse’s appeal is partly allowed

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Capital Gains and not claimed tax exemption by mistake. The fresh claim was made for tax exemption before the First Appellate Authority and the said claim was accepted based on the CBDT Circular No.14(XL- 35) dated 11.04.1955. Considering the facts, the Mumbai Bench dismissed the departmental appeal in accepting the approach of the First Appellate Authority. The Jurisdictional Bench

M/S APEX TRANSWORLD PRIVATE LIMITED,CHENNAI vs. DCIT CC-1(1), CHENNAI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Mahavir Singh, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.932/Chny/2020 िनधा"रण वष" /Assessment Year: 2011-12 V. M/S.Apex Transworld Pvt. Ltd., The Dy. Commissioner Of 38, 2Nd Main Road, Income Tax, R.A. Puram, Corporate Circle-1(1), Chennai-600 028. Chennai. [Pan: Aadca 7034 L] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant By Mr.K. Ramesh Babu, Ca ""यथ" क" ओर से /Respondent By : Mr. Ar.V.Sreenivasan, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 03.01.2023 घोषणा क" तारीख /Date Of Pronouncement : 11.01.2023

gain originally is not considered in this order in view of the decision of the Hon'ble Supreme Court in the case of Commissioner of Income-Tax vs M/S. Sun Engineering Works (P.) 1992 Supp 1 SCR 732 a, dated 17 September, 1992 in which the Hon'ble Apex Court has held as under: "Therefore our answer to the question

INCOME TAX OFFICER, CHENNAI vs. RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY, CHENNAI

In the result, the both the appeals filed by the Revenue are dismissed

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

80P Deduction in respect of income of co- operative societies:— (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

INCOME TAX OFFICER, CHENNAI vs. RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LIMITED, CHENNAI

In the result, the both the appeals filed by the Revenue are dismissed

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

80P Deduction in respect of income of co- operative societies:— (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

SOUTHERN RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD. ,TIRUCHIRAPPALLI vs. DCIT, CRICLE-1(1), TRICHY

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

80P Deduction in respect of income of co- operative societies:— (1) Where, in the case of an assessee being a co- operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

SOUTHERN RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD.,TIRUCHIRAPALLI vs. DCIT, CIRLCE-1(1), TRICHY

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

Bench: SHRI MANU KUMAR GIRI (Judicial Member), SHRI JAGADISH (Accountant Member)

80P Deduction in respect of income of co- operative societies:— (1) Where, in the case of an assessee being a co operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

IRULA SNAKE CATCHERS INDUSTRIAL CO-OP. SOCIETY LTD.,CHENNAI vs. ITO, WARD-22(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shris.R.Raghunathaआयकरअपीलसं. (Ita No.1790/Chny/2025 "नधा"रणवष"/Assessment Years: 2020-21 Irula Snake Catchers Industrial Co- V. Income Tax Officer, Operative Society Ltd, Non-Coporate Ward 22(1), Mahabalipuram Road, Tambaram Vadanemmli Village, Perur Post, Chennai-603 104 [Pan:Aaaai 7894 M] (अपीलाथ"/Assessee) (""यथ"/Respondent)

Section 80P(2)(a)(vi) grants deduction in respect of profits and gains attributable to the collective disposal of the labour of the members of a co-operative society. The expression “attributable to” ITA 1790 Chny 2025 (A Y 2020-21) Irula Snake Catchers Ind Co-Op Soct Ltd Vs ITO Ward 22 (1) :: 7 :: used by the legislature

M/S MADRAS RACE CLUB,CHENNAI vs. DCIT CORPO CIRCLE 4 (1), CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

section 80P(2)(a)(i).” 14.1 We also noted that the Chennai Bench of the Tribunal in the case of Madras Cricket Club, supra has considered this issue and considered the decision of Hon’ble Supreme Court in the case of CIT vs. Bankipur Club Ltd., 92 taxmann 278 (SC) has held that the assessee is entitled to claim mutuality

M/S MADRAS RACE CLUB,CHENNAI vs. DCIT CORPO CIRCLE 4 (1), CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

section 80P(2)(a)(i).” 14.1 We also noted that the Chennai Bench of the Tribunal in the case of Madras Cricket Club, supra has considered this issue and considered the decision of Hon’ble Supreme Court in the case of CIT vs. Bankipur Club Ltd., 92 taxmann 278 (SC) has held that the assessee is entitled to claim mutuality

M/S MADRAS RACE CLUB,CHENNAI vs. DCIT CORPO CIRCLE 4 (1), CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

section 80P(2)(a)(i).” 14.1 We also noted that the Chennai Bench of the Tribunal in the case of Madras Cricket Club, supra has considered this issue and considered the decision of Hon’ble Supreme Court in the case of CIT vs. Bankipur Club Ltd., 92 taxmann 278 (SC) has held that the assessee is entitled to claim mutuality

MADURA COATS EMPLOYEES AND PUBLIC SERVICE CO-OP HOUSING SOCIETY LTD.,TIRUNELVELI vs. ITO, WARD-4,, TIRUNELVELI

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita No.: 2345/Chny/2025 िनधा"रण वष"/Assessment Year:2016-17 Maduracoats Employees & The Income Tax Officer, Public Service Co-Op Ward 4, Housing Society Ltd., Vs. Tirunelveli Ambasamudram, Agasthiyarpatti S.O, Agasthiyarpatti, Tirunelveli – 627428. Pan: Aaiam 5076B (""यथ"/Respondent) (अपीलाथ"/Appellant) अपीलाथ" क" ओर से/Appellant By : Shri S. Sridhar (Erode), Advocate ""यथ" क" ओर से/Respondent By : Ms. E. Pavuna Sundari, Cit सुनवाई क" तारीख/Date Of Hearing : 30.10.2025 घोषणा क" तारीख/Date Of Pronouncement : 10.11.2025

section 80P and inclusion of capital gains, which fall within the exclusive ITA. No:2345/Chny/2025 domain of the Assessing Officer

THE INCOME TAX OFFICER, WARD -4, PUDUCHERRY vs. KALAPET PRIMARY AGRICULTURAL CO-OPERATIVE BANK LTD. , PONDICHERRY

In the result, the Revenue’s appeals are allowed for statistical purposes’’

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

capital and reserves exceeded one lakh of rupees. 6. The learned Commissioner of Income Tax (Appeals) has erred by failing to consider that the assessee is a primary co-operative bank with reference to Clause (ccv) of Section 56 of Part-V considered together with Section 5(b) of Banking Regulations Act, 1949. 7. The ITAT in its order

R. ANBUVEL RAJAN ,CHENNAI vs. ACIT, CENTRAL RANGEL, CHENNAI, CHENNAI

In the result, both the appeals of the assessee stand allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

gain by not filing the appeals. The action of the assessee can’t be termed to action of the assessee can’t be termed to be deliberate and therefore, we be deliberate and therefore, we condone the delay of 262 days in filing of both the appeals and proceed to condone the delay of 262 days in filing of both

R. ANBUVEL RAJAN ,CHENNAI vs. ACIT, CENTRAL RANGE 1, CHENNAI, CHENNAI

In the result, both the appeals of the assessee stand allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

gain by not filing the appeals. The action of the assessee can’t be termed to action of the assessee can’t be termed to be deliberate and therefore, we be deliberate and therefore, we condone the delay of 262 days in filing of both the appeals and proceed to condone the delay of 262 days in filing of both

DCIT CORPORATE CIRCLE 5(1), CHENNAI vs. REPCO HOME FINANCE P LTD., CHENNAI

In the result, the appeal of Revenue in ITA no

Bench: Shri George Mathan & Shri Ramit Kochar

gains of business or profession" (before making any deduction under this clause) carried to such reserve account : Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid up share capital and of the general reserves of the specified entity, no allowance under this clause shall

POTHERI VILLAGE WEANING FOOD MANUFACTURING WOMENS DEVELOPMENT INDUSTRIAL COOP,KANCHEEPURAM vs. ITO, NCW 22(1), TAMBARAM

In the result the appeal of the Assessee is allowed

Bench: Shri S.S. Viswanethra Ravi, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 1055/Chny/2024 िनधा"रण वष" / Assessment Year: 2017-18 Potheri Village Weaning Food Income Tax Officer, Manufacturing Womens V. Non-Corporate Ward – 22(1), Development Industrial Coop, Tambaram. 12, Amman Koil Street, Potheri Katankolathur Post, Kanchipuram – 603 203. [Pan: Aaaap-9745-Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. I. Dinesh, Advocate ""यथ" क" ओर से/Respondent By : Shri. Aroon Prasad, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 25.07.2024 घोषणा की तारीख/Date Of Pronouncement : 07.08.2024 आदेश /O R D E R

Section 80P(2)(a)(ii) of the Act by a ‘cottage industry’ have been specified in para 3 as detailed below: “(a) a cottage industry is one which is carried on a small scale with a small amount of capital and a small number of workers and has a turnover which is correspondingly limited; (b) it should not be required

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

gains of business'. Though the circular was issued in the provisions of sec. 80P of the Act, the said principle was equally made applicable to other banks and commercial banks to which Banking Regulation Act, 1949 applies. Therefore, by virtue of the above said circular, investments made by the bankingcompany should be treated as a business asset of the banking

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

gains of business'. Though the circular was issued in the provisions of sec. 80P of the Act, the said principle was equally made applicable to other banks and commercial banks to which Banking Regulation Act, 1949 applies. Therefore, by virtue of the above said circular, investments made by the bankingcompany should be treated as a business asset of the banking

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal of the Revenue in ITA 1316/CHNY/2018

Bench: Shri George Mathan & Shri Inturi Rama Rao

gains of business'. Though the circular was issued in the provisions of sec. 80P of the Act, the said principle was equally made applicable to other banks and commercial banks to which Banking Regulation Act, 1949 applies. Therefore, by virtue of the above said circular, investments made by the bankingcompany should be treated as a business asset of the banking