THE KUNDARA PANCHAYATH SERVICE COOPERATIVE BANK LTD,KOLLAM vs. INCOME TAX OFFICER, WARD 4, KOLLAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Inturi Rama Rao & Shri Keshav Dubey

disallowing the claim u/s 80P of the Act? 7. We have heard the rival submissions and perused the materials available on record. We are of the considered opinion that the issue in dispute is squarely covered in the case Pr. CIT v. Peroorkada Service Co-Operative Bank Ltd.(2022) 442 ITR 141 held by Hon’ble Kerala High Court wherein

AVINISSERY SERVICE CO-OPERATIVE BANK LTD,THRISSUR vs. THE INCOME TAX OFFICER WARD 2(1),THRISSUR, THRISSUR

disallow deductions claimed under section 80P of the Income-tax Act, notwithstanding that mere nomenclature or registration certificates issued under the Kerala Act would show that the assessees are primary agricultural credit societies. These divergent decisions led to a reference order dated 9-7-2018 to a Full Bench of the Kerala High Court.* - *5. The Full Bench

THE DIT ( EXEMPTION), KOCHI vs. M/S.INDIAN MEDICAL ASSOCIATION COCHIN BRANCH, COCHIN

In the result, both the appeals of the Revenue are dismissed

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

22,125.00 vi) Medicine Premium Collection Rs. 1,51,734.00 vii) SB Interest Rs. 4,489.00 viii) Directory Advertisement Rs. 10,000.00 ix) Income from mandap keeper (renting of halls and food) Rs. 78,55,580.00 Total Rs.1,01,97,432.00 2.1 Thus, the Assessing Officer observed that since the assessee was letting out a hall to public for conducting

THE ADIT ( EXEMPTION), KOCHI vs. M/S.INDIAN MEDICAL ASSOCIATION COCHIN BRANCH, COCHIN

In the result, both the appeals of the Revenue are dismissed

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

22,125.00 vi) Medicine Premium Collection Rs. 1,51,734.00 vii) SB Interest Rs. 4,489.00 viii) Directory Advertisement Rs. 10,000.00 ix) Income from mandap keeper (renting of halls and food) Rs. 78,55,580.00 Total Rs.1,01,97,432.00 2.1 Thus, the Assessing Officer observed that since the assessee was letting out a hall to public for conducting

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

disallowance of Interest amounting to Rs. 18,43,500/- under Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have

ASPINWALL & COMPANY LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

disallowance of Interest amounting to Rs. 18,43,500/- under Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have

THE DCIT, COCHIN vs. M/S.ASPINWALL & CO. LTD, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

disallowance of Interest amounting to Rs. 18,43,500/- under Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have

M/S ASPINWALL & CO.,LTD,COCHIN vs. THE ACIT, COCHIN

In the result,the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

disallowance of Interest amounting to Rs. 18,43,500/- under Section 14A of the Income Tax Act, 1961 r.w.r 8D of the Income Tax Rules, 1962. 2. The learned CIT (A) ought to have observed that the appellant has not incurred any expenditure to earn exempt income of Rs. 6,59,278/-. 3. The learned CIT (A) ought to have

THE KAREEPPA PANCHAYATH SERVICE CO-OPERATIVE BANK LTD.D,KOLLAM vs. THE ITO, KOLLAM

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year : 2017-18

22 of the said Act. Conclusion: In the instant case, although the appellant society is an apex cooperative society within the meaning of the State Act, 1984, it is not a co-operative bank within the meaning of Section 5(b) read with Section 56 of the BR Act, 1949. In the result, the appeals filed by the appellant

VADAKKEVILA SERVICE CO-OPERATIVE BANK LTD,KOLLAM vs. THE ITO, KOLLAM

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 of the said Act. Conclusion: In the instant case, although the appellant society is an apex co- operative society within the meaning of the State Act, 1984, it is not a co-operative bank within the meaning of section 5(b) read with section 56 of the BR Act, 1949. In the result, the appeals filed by the appellant

THE THRIKKOVIL VATTOM PANCHAYATH SERVICE CO-OP BANK LTD,KOLLAM vs. ITO, KOLLAM

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

2(c) of the BR Act, 1949 on obtaining licence under Section 22 of the said Act. Conclusion: In the instant case, although the appellant society is an apex cooperative society within the meaning of the State Act, 1984, it is not a co-operative bank within the meaning of Section 5(b) read with Section

RAMAPURAM NORTH AISWARYA PRADAYINI SCB LTD ,ALAPPUZHA vs. THE ITO WARD 3, ALAPPUZHA

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year 2017-18 Ramapuram North Aiswarya Pradayini Scb Ltd. Ramapuram North, The Income Tax Officer Vs. Keerikadu P.O., Alappuzha Ward - 3, Pin - 690508 Alappuzha Pan Aacar2023D (Appellant) (Respondent)

disallowing the impugned claim, the assessee concerned must be proved to be in banking business with general public as per the corresponding provisions in the Banking Regulation Act, 1949 as under : “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd., it was categorically

M/S CHIRAYINKEEZHU SERVICE CO-OPERATIVE BANK,CHIRAYINKEEZHU vs. ITO, WARD-2(5), TRIVANDRUM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s section 80P(2) deduction claim representing its income derived from M/s. Trivandrum District Co-operative Bank Ltd., amounting to Rs. Rs.12,75,20,483/-. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court

KANNUR TOWN SERVICE CO-OP BANK,KANNUR vs. ITO WARD 1, KANNUR

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhkannur Town Service Co-Op. The Income Tax Officer-1 Bank Ltd. Aayakar Bhavan Vs. Kannur 670002 Kannothumchal [Pan: Aabak8385N] Kannur 670006 (Appellant) (Respondent)

disallowed the assessee’s section 80P(2)(a)(i) deduction. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank

KANNUR DISTRICT EX SERVICEMAN MULTIPURPOSE CO-OP SOCIETY,KANNUR vs. THE ITO WARD 1 & TPS, KANNUR

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2016-2017 Kannur District Ex-Servicemen Multipurpose V. The Income Tax Officer Co-Operative Society Limited, Ward 1 & Tps Payangadi Rs Kannur. Kannur 670 303. Pan : Aaaak8922A. (Appellant) (Respondent) Appellant By : Shri George Thomas, C.A. Respondent By : Smt. V. Swarnalatha, Sr. Dr Date Of Date Of Hearing : 13.08.2024 Pronouncement : 05.11.2024 Order Per Bench : This Assessee’S Appeal, Ita.No.432/Coch/2023, For Assessment Year 2016-2017, Arises Out Of The Order Of The Commissioner Of Income-Tax (Appeals) / Nfac Vide Din & Order No.Itba/Nfac/S/250/2022-23/1051675600(1) Dated 30.03.2023, In Proceedings U/S.143(3) Of The Income-Tax Act, 1961; In Short “The Act” Hereinafter.

disallowed the assessee’s section 80P(2)(a)(i) deduction claim. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court in the case of Pr.CIT v. Mavilayi Service Co-operative Bank

CLAPPANA SERVICE CO-OPERATIVE BANK ALTD.,KARUNAGAPPALLY vs. ITO, WARD 1&TPS, ALAPPUZHA

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2017-2018 M/S. Clappana Service Co-Operative The Income Tax Officer Bank Limited No.867 V. Ward 1, Alappuzha. Cp/Viii/410 & 411, Clappana Po Karunagappally, Kollam – 690 525 Pan : Aabac2747A. (Appellant) (Respondent) Appellant By : Shri Rajakannan, Advocate Respondent By : Smt. V. Swarnalatha, Sr. D.R. Date Of Pronouncement : 25.09.2024 Date Of Hearing : 12.08.2024 O R D E R Per Bench : This Assessee’S Appeal For A.Y. 2017-18 Arises Against The National Faceless Appeal Centre, Delhi [Cit(A)]’S Din & Order No. Itba/ Nfac/S/250/2023-24/1055921666(1) Dated 11.09.2023, Passed U/S. 250 Of The Income Tax Act, 1961 (The Act).

disallowed the assessee’s section 80P(2) deduction claim representing its income derived from a district co-operative bank amounting to Rs.57,15,277/-. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per 2 Clappana SCB Ltd. the decision of the hon'ble jurisdictional high court

M/S.PUTHIYANGADI SERVICE CO-OP BANK,CALICUT vs. THE ITO WARD 1(3), CALICUT

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2017-18 M/S. Puthiyangadi Service Co- The Income Tax Officer Operative Bank Limited No.F1421 V. Ward 1(3), Alappuzha. Puthiyangadi Kozhikode – 673 021 Pan : Aacap0749C. (Appellant) (Respondent)

disallowed the assessee’s section 80P(2) deduction claim representing its income derived from the Kozhikode District Co-operative Bank amounting to Rs.43,81,435/-. The Revenue 2 Puthiyangadi SCB Ltd. further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high

KARASSERY SERVICE CO-OP BANK LTD,MUKKAM vs. THE ITO WARD 2(3), KOZHIKODE

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s section 80P(2) deduction claims representing its income derived from a district co- operative bank amounting to Rs.52,86,755/-, Rs.2,86,60,990/- and 2,48,98,062/-; respectively, as the case may be. The Revenue supports to fortify the same on the ground that this assessee, in fact, is a co-operative bank