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\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

AYUR GREEN AYURVEDA HOSPITALS PRIVATE LIMITED,MALAPPURAM vs. DCIT, CPC, BENGALURU, BENGALURU

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmiayurgreen Ayurveda Hospsitals Vs Dcit, Private Limited Cpc, Door No. 1/301 Ayurgreen Bengaluru. Ayurveda Hospitals, Kaladi Mlp Edappal, Malappuram-679585. (Appellant) (Respondent) Pan No. Aaica 4294 M

disallowance. The assessee must succeed for this reason as well.” 9. With our utmost respect to the findings of the co-ordinate bench [supra], we are of the considered view that the co-ordinate bench has ignored the binding ratio decidendi of the Hon'ble Supreme Court in the case of Checkmate Services Pvt Ltd [supra]. It would be pertinent

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 36 (I)(vii) and 36 (I)(vii)) were only based on a difference of opinion with the predecessor AO, on the same sett of facts. 2. al) The Ld. CIT(A) erred in confirming the disallowance u/s I4A of the Act r.w.rule 8D off the IT Rules, made by the AO amounting

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 36 (I)(vii) and 36 (I)(vii)) were only based on a difference of opinion with the predecessor AO, on the same sett of facts. 2. al) The Ld. CIT(A) erred in confirming the disallowance u/s I4A of the Act r.w.rule 8D off the IT Rules, made by the AO amounting

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 36 (I)(vii) and 36 (I)(vii)) were only based on a difference of opinion with the predecessor AO, on the same sett of facts. 2. al) The Ld. CIT(A) erred in confirming the disallowance u/s I4A of the Act r.w.rule 8D off the IT Rules, made by the AO amounting

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 36 (I)(vii) and 36 (I)(vii)) were only based on a difference of opinion with the predecessor AO, on the same sett of facts. 2. al) The Ld. CIT(A) erred in confirming the disallowance u/s I4A of the Act r.w.rule 8D off the IT Rules, made by the AO amounting

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 36 (I)(vii) and 36 (I)(vii)) were only based on a difference of opinion with the predecessor AO, on the same sett of facts. 2. al) The Ld. CIT(A) erred in confirming the disallowance u/s I4A of the Act r.w.rule 8D off the IT Rules, made by the AO amounting

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 36 (I)(vii) and 36 (I)(vii)) were only based on a difference of opinion with the predecessor AO, on the same sett of facts. 2. al) The Ld. CIT(A) erred in confirming the disallowance u/s I4A of the Act r.w.rule 8D off the IT Rules, made by the AO amounting

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A of the 1961 Act read with Rule 8D(2)(ii) and 8D(2)(iii) of the 1962 Rules, as was made by the AO is reproduced as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with Rule 8D is worked out as under: (i) Direct expenditure relating to exempt income Nil (ii) Interest relating to exempt income

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A of the 1961 Act read with Rule 8D(2)(ii) and 8D(2)(iii) of the 1962 Rules, as was made by the AO is reproduced as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with Rule 8D is worked out as under: (i) Direct expenditure relating to exempt income Nil (ii) Interest relating to exempt income

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A of the 1961 Act read with Rule 8D(2)(ii) and 8D(2)(iii) of the 1962 Rules, as was made by the AO is reproduced as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with Rule 8D is worked out as under: (i) Direct expenditure relating to exempt income Nil (ii) Interest relating to exempt income

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A of the 1961 Act read with Rule 8D(2)(ii) and 8D(2)(iii) of the 1962 Rules, as was made by the AO is reproduced as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with Rule 8D is worked out as under: (i) Direct expenditure relating to exempt income Nil (ii) Interest relating to exempt income

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ERNAKULAM

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A of the 1961 Act read with Rule 8D(2)(ii) and 8D(2)(iii) of the 1962 Rules, as was made by the AO is reproduced as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with Rule 8D is worked out as under: (i) Direct expenditure relating to exempt income Nil (ii) Interest relating to exempt income

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

23 ITA No.476/Coch/2023. The Thrikkovilvattom Panchayath SCB Ltd. accommodation to its members who are all other co- operative societies and not members of the public. 15.14. Therefore, when the definition of “co-operative bank” in Section 56 of BR Act, 1949 is viewed in terms of Sections 2(u) of the NABARD Act, 1981, it is clear that only

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

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

23 Tirurangadi Service Co-op. Bank Ltd. Section 56 of the BR Act, 1949, it would be entitled to the benefit of deduction under Section 80P of the Act. 15.11. Looked at from another angle, a co-operative society which is not a state co-operative bank within the meaning of NABARD Act, 1981 would not be a co-operative