FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

2) of the Act and that the Assessee had sufficient surplus funds and that the investments being stock in trade no disallowance can be made u/s.14-A of the Act. 16. After considering the rival contentions, we are of the view that the issue of disallowance u/s.14A of the Act has to be remanded to the AO for fresh consideration

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

2) of the Act and that the Assessee had sufficient surplus funds and that the investments being stock in trade no disallowance can be made u/s.14-A of the Act. 16. After considering the rival contentions, we are of the view that the issue of disallowance u/s.14A of the Act has to be remanded to the AO for fresh consideration

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

2) of the Act and that the Assessee had sufficient surplus funds and that the investments being stock in trade no disallowance can be made u/s.14-A of the Act. 16. After considering the rival contentions, we are of the view that the issue of disallowance u/s.14A of the Act has to be remanded to the AO for fresh consideration

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

2) of the Act and that the Assessee had sufficient surplus funds and that the investments being stock in trade no disallowance can be made u/s.14-A of the Act. 16. After considering the rival contentions, we are of the view that the issue of disallowance u/s.14A of the Act has to be remanded to the AO for fresh consideration

KARIKUNNAM SERVICE CO-OPERATIVE BANK LTD,THODUPUZHA vs. ITO, WARD-1& TPS, THODUPUZHA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2017-18

disallowed on the reasoning that the appellant society is engaged banking business and the agricultural credits are 5. not substantial, that the appellant is using the term 'bank' and therefore hit by section 80P(4) of the IT Act. In view of the subsequent developments including the judgment o' the Hon'ble Supreme Court in the case of Mavilayi Service

M/S.CHEVAYUR SERVICE CO-OP BANK LTD,CALICUT vs. THE ITO, WARD-1(1), KOZHIKKODE, KOZHIKKODE

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowance of claim of deduction u/s 80P of the I.T.Act made by the Assessing Officer was upheld by the CIT(A). In the result the appeals filed by the assessee ITA Nos.152-153/Coch/2020 3 M/s.Chevayur SCB Ltd. were rejected by the CIT(A) for assessment years 2009-2010 and 2014-2015. 6. Aggrieved by the orders passed

M/S.CHEVAYUR SERVICE CO-OP BANK LTD,CALICUT vs. THE ITO, WARD-1(1), KOZHIKKODE, KOZHIKKODE

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowance of claim of deduction u/s 80P of the I.T.Act made by the Assessing Officer was upheld by the CIT(A). In the result the appeals filed by the assessee ITA Nos.152-153/Coch/2020 3 M/s.Chevayur SCB Ltd. were rejected by the CIT(A) for assessment years 2009-2010 and 2014-2015. 6. Aggrieved by the orders passed

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

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

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

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

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

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

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

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

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

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

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

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

THE ALLEPPEY DIST CO- BANK LTD,ALAPPUZHA vs. THE ACIT, ALAPPUZHA

In the result, the appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

2 M/s.Alleppey District Co-op.Bank Ltd. Mr.R.Krishnan, Chartered Accountant, was for treatment of back ailment during the relevant period. We have perused the reasons stated for filing the appeal belatedly. We find that there is sufficient cause for the delayed filing of the appeal and no latches can be attributed to the assessee. Hence, we condone the delay and proceed

THE ALLEPPEY DIST CO- BANK LTD,ALAPPUZHA vs. THE ACIT, ALAPPUZHA

In the result, the appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

2 M/s.Alleppey District Co-op.Bank Ltd. Mr.R.Krishnan, Chartered Accountant, was for treatment of back ailment during the relevant period. We have perused the reasons stated for filing the appeal belatedly. We find that there is sufficient cause for the delayed filing of the appeal and no latches can be attributed to the assessee. Hence, we condone the delay and proceed