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\nIncome-tax Act, notwithstanding that mere nomenclature or registration\ncertificates issued under the Kerala Act would show that the assessees\nare primary agricultural credit societies. These divergent decisions led to\na reference order dated 9-7-2018 to a Full Bench of the Kerala High\nCourt.\n5. The Full Bench

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

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

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 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

KALADY KANJOOR RURAL CO-OPERATIVE BANK LTD,ERNAKULAM vs. DCIT, KOCHI

In the result, the appeals filed by the appellant are allowed and

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year: 2018-19

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

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

disallowance for non-deduction of TDS payments made to non-members. 3. The Revenue vehemently argued during the course of hearing that the assessee viz., Kareeppa Panchayat Service Co-op. Bank Ltd. is in fact a cooperative bank covered u/sec.80P(4) of the Act than a cooperative credit society eligible for the impugned detailed discussion u/sec.80P(2

THE TIRURANGADI SERVICE CO-OPERATIVE BANK LTD,TIRURANGADI vs. ITO, WARD-3, TIRUR

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s sec.80P deduction claim of Rs.43,91,161/-; in the course of assessment dated 21.12.2016; as upheld in the lower appellate discussion as follows : 3 Tirurangadi Service Co-op. Bank Ltd. 4 Tirurangadi Service Co-op. Bank Ltd. 5 Tirurangadi Service Co-op. Bank Ltd. 3. Suffice to say, the Revenue’s first and foremost substantive ground

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

CHEERANCHIRA SERVICE CO-OPERATIVE BANK LIMITED,KOTTAYAM vs. ITO, WARD 1&TPS, THIRUVALLA

In the result, the appeals filed by the appellant are allowed and

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year - 2017-2018

disallowed the assessee’s 2 Cheeranchra Service Co-op. Bank Ltd. section 80P 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

THE KALAKKODU SERVICE CO-OP BANK LTD,KOLLAM vs. THE ITO, KOLLAM

In the result, the appeal filed by the assessee is partly allowed and the stay petition filed by the assessee is dismissed as infructuous

Bench: Shrigeorge George K.And Shrilaxmi Prasad Sahu(Assessment Year:2018-19

VI-A is admissible on the profits so enhanced by the disallowance. So our deduction u/s 80P will also enhanced with the disallowance of Rs.4,33,252/- and the taxable income will remain NIL.” 6. After hearing the learned D.R. we observed that the addition made in the instant case has resulted in increase of profit of the assessee

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

vi) Whether on the facts and in the circumstances of the case, the order of CIT(A) is correct in not duly considering the following case laws (a) Sabargantha Zilla Kharid Vechar Sangh Ltd. (203 ITR 1027) (SC) (b) Perinthalmanna Service Co-operative Bank (363 ITR 68) (Kerala) (c) CIT Vs Kerala State Co-operative Marketing Federation

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

vi) Whether on the facts and in the circumstances of the case, the order of CIT(A) is correct in not duly considering the following case laws (a) Sabargantha Zilla Kharid Vechar Sangh Ltd. (203 ITR 1027) (SC) (b) Perinthalmanna Service Co-operative Bank (363 ITR 68) (Kerala) (c) CIT Vs Kerala State Co-operative Marketing Federation

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

vi) Whether on the facts and in the circumstances of the case, the order of CIT(A) is correct in not duly considering the following case laws (a) Sabargantha Zilla Kharid Vechar Sangh Ltd. (203 ITR 1027) (SC) (b) Perinthalmanna Service Co-operative Bank (363 ITR 68) (Kerala) (c) CIT Vs Kerala State Co-operative Marketing Federation

THE ITO, TRIVANDRUM vs. M/S.PERRORKADA SERVICE CO-OP BANK LTD, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

vi) Whether on the facts and in the circumstances of the case, the order of CIT(A) is correct in not duly considering the following case laws (a) Sabargantha Zilla Kharid Vechar Sangh Ltd. (203 ITR 1027) (SC) (b) Perinthalmanna Service Co-operative Bank (363 ITR 68) (Kerala) (c) CIT Vs Kerala State Co-operative Marketing Federation

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

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

vi) Whether on the facts and in the circumstances of the case, the order of CIT(A) is correct in not duly considering the following case laws (a) Sabargantha Zilla Kharid Vechar Sangh Ltd. (203 ITR 1027) (SC) (b) Perinthalmanna Service Co-operative Bank (363 ITR 68) (Kerala) (c) CIT Vs Kerala State Co-operative Marketing Federation

DCIT, TRIVANDRUM vs. BRAHMOS AEROSPACE( THIRUVANANTHAPURAM) LTD, TRIVANDRUM

In the result, the appeal filedby

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am Deputy Commissioner Brahmos Aerospace Of Income Tax, (Thiruvananthapuram) Ltd., Circle-1(1), V. Chackai, Thiruvananthapuram Beach Post, Kerala Tiruvananthapuram, Kerala Pan – Aabck2217K Appellant Respondent

VI , no loss which has not been determined in pursuance of return filed u/s 139(3) , shall be carried forward and set off u/s 72(1), 73(2) , 74(3) and 74A(3) of the 1961 Act. Thus, Section 80 also refers to the time line provided u/s 139(3), which in turn refers to prescribed time

KKR AGRO MILLS P. LTD,ERNAKULAM vs. THE ACIT, COCHIN

In the result, appeal is allowed in favour of the assessee

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2010-11 Kkr Agro Mills Pvt. Ltd., Vs. Acit, Iii/678, Kkr Building, Okkal Kalady, Circle – 1(2), Ernakulam – 683 550. Kochi. Pan : Aabck 6542 K Assessee Respondent

24 STC 90)= (1969) 73 ITR 224 (AP), it was even held that “The basis furnished by tests conducted in other undertakings cannot be of much relevance for the purpose of these mills about which it cannot be said that they are similarly circumstanced in all respects.” Appellant had brought to the attention of the authorities below the fact that

DY.COMMISSIONER OF INCOME TAX, THRISSUR vs. THE CSB BANK LTD, THRISSUR

In the result, the appeal of revenue is dismissed

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

disallowance of provisions of bad and doubtful debts to the extent of Rs. 57.57 crores is deleted. 3. The CIT(A) has erred on the following points while deleting the Book profit enhancement consequent to bad and doubtful debt the extent of Rs. 57.57 crores. 3.1. Vijaya Bank decision is applicable only for normal Income and not MAT Income [Minimum

KALIKAVU SERVICE CO-OPERATIVE BANK LIMITED,KALIKAVU vs. ITO, WARD-2, TIRUR

Appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

disallowance of the deduction claimed by the assessee amounting to Rs. 28,38,830.00 under the provisions of section 80 P of the Act. 3. The necessary facts are that the assessee is registered as a Primary Agricultural Co-op society and claims to be engaged in providing loans to its members for Kalikvu Service Co-operative Bank Ltd. agricultural