THE DCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance can be made on account of interest expenditure under section 14A. From these and a conspectus of several other judicial ratios held by the Hon'ble Courts and Tribunals, it is clear that the Appellant cannot be prevented, u/s 14A or u/s 2(22

THEDCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance can be made on account of interest expenditure under section 14A. From these and a conspectus of several other judicial ratios held by the Hon'ble Courts and Tribunals, it is clear that the Appellant cannot be prevented, u/s 14A or u/s 2(22

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

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

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

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

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

THE KADANAD SERVICE CO-OPERATIVE BANK,KOLLAPPALLY vs. ITO, NATIONAL E ASSESSMENT CENTER, KOTTAYAM

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 Singh

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 The Kadanad SCB Limited. 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

THE KADANAD SERVICE CO-OPERATIVE BANK LTD,KOTTAYAM vs. ITO, NATIONAL E-ASSESSMENT CENTER, DELHI, KOTTAYAM

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 Singh

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 The Kadanad SCB Limited. 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

THE KADANAD SERVICE CO-OPERATIVE BANK LTD,KOTTAYAM vs. ITO, WARD-2, KOTTAYAM

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 Singh

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 The Kadanad SCB Limited. 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

M/S THURAYUR SERVICE CO -OP BANK LTD,KOZHIKODE vs. THE ITO WARD 2(1), KOZHIKODE

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 Singh

disallowed assessee’s section 80P deduction claim of Rs.53,79,728/- and Rs.63,67,085/-, inter alia, treating it as co-operative Thurayur SCB Limited. bank and also for the reason that the corresponding loans to the extent of 25% only had been advanced to agricultural sector, as the case may be. 3. We have given thoughtful consideration

M/S THURAYUR SERVICE CO -OP BANK LTD,KOZHIKODE vs. THE ITO WARD 2(1), KOZHIKODE

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 Singh

disallowed assessee’s section 80P deduction claim of Rs.53,79,728/- and Rs.63,67,085/-, inter alia, treating it as co-operative Thurayur SCB Limited. bank and also for the reason that the corresponding loans to the extent of 25% only had been advanced to agricultural sector, as the case may be. 3. We have given thoughtful consideration

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