THE MANTOLA COOPERATIVE THRIFT & CREDIT SOCIETY,NEW DELHI vs. ITO WARD-62(5), NEW DELHI

In the result, all the appeals of the assessee are allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumar(E-Court Module) Ita No. 4078/Del/2019 : Asstt. Year : 2012-13 Ita No. 6935/Del/2018 : Asstt. Year : 2013-14 Ita No. 2036/Del/2019 : Asstt. Year : 2014-15 The Mantola Cooperative Vs Income Tax Officer, Thrift & Credit Society Ltd., Ward-62(5), 541, Mantola, Phar Ganj, New Delhi New Delhi-110055 (Appellant) (Respondent) Pan No. Aaajt1976A Assessee By : Sh. Gaurav Jain, Adv. Revenue By : Ms. Rakhi Vimal, Sr. Dr Date Of Hearing: 22.06.2020 Date Of Pronouncement: 27.07.2020

B. R. R. Kumar, Accountant Member: The present appeals have been filed by the assessee against the order of the ld. CIT(A)-18, New Delhi dated 06.03.2019 for A.Y. 2012-13, order of the ld. CIT(A)-27, New Delhi dated 17.08.2018 for A.Y. 2013-14 and order of the ld. CIT(A)-20, New Delhi dated

THE MANTOLA COOPERATIVE THRIFT & CREDIT SOCIETY LTD,NEW DELHI vs. ITO, WARD-62(5), NEW DELHI

In the result, all the appeals of the assessee are allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumar(E-Court Module) Ita No. 4078/Del/2019 : Asstt. Year : 2012-13 Ita No. 6935/Del/2018 : Asstt. Year : 2013-14 Ita No. 2036/Del/2019 : Asstt. Year : 2014-15 The Mantola Cooperative Vs Income Tax Officer, Thrift & Credit Society Ltd., Ward-62(5), 541, Mantola, Phar Ganj, New Delhi New Delhi-110055 (Appellant) (Respondent) Pan No. Aaajt1976A Assessee By : Sh. Gaurav Jain, Adv. Revenue By : Ms. Rakhi Vimal, Sr. Dr Date Of Hearing: 22.06.2020 Date Of Pronouncement: 27.07.2020

B. R. R. Kumar, Accountant Member: The present appeals have been filed by the assessee against the order of the ld. CIT(A)-18, New Delhi dated 06.03.2019 for A.Y. 2012-13, order of the ld. CIT(A)-27, New Delhi dated 17.08.2018 for A.Y. 2013-14 and order of the ld. CIT(A)-20, New Delhi dated

THE VEER CO-OPERATIVE GROUP HOUSING SOCIETY LTD.,NEW DELHI vs. ITO, WARD- 39(4), NEW DELHI

In the result, ITA.No.2787/Del

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

section 80P(2)(c)(ii) for a sum of Rs.50,000/-. The above provision provides “deduction in respect of income of Cooperative Societies”. In the case of Cooperative Society engaged in activities other than those specified in clause (a) or (b) (either independently or in addition to or any of the activities so specified) so much of its profits

THYE VEER CO-OPERATIVE GROUP HOUSING SOCIETY LTD,NEW DELHI vs. ITO, WARD-39(4), NEW DELHI

In the result, ITA.No.2787/Del

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

section 80P(2)(c)(ii) for a sum of Rs.50,000/-. The above provision provides “deduction in respect of income of Cooperative Societies”. In the case of Cooperative Society engaged in activities other than those specified in clause (a) or (b) (either independently or in addition to or any of the activities so specified) so much of its profits

ITO, WARD- 63(5), NEW DELHI vs. THE JWALA COOPERATIVE URBAN THRIFT AND CREDIT SOCIETY LTD., NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 5623/Del/2018 : Asstt. Year : 2012-13 Income Tax Officer, Vs The Jwala Cooperative Urban Ward-63(5), Thrift & Credit Society Ltd., New Delhi-110002 218, Dda Cycle Market, Jhandewalan Extn. New Delhi-110055 (Appellant) (Respondent) Pan No. Aabat0924C Assessee By : Ms. Gunjan Jain, Ca Revenue By : Sh. Ratan Singh, Sr. Dr Date Of Hearing: 20.10.2021 Date Of Pronouncement: 20.01.2022

B. R. R. Kumar, Accountant Member: This appeal has been filed by the Revenue against the order of the ld. CIT(A)-18, New Delhi dated 07.06.2018. 2. Following grounds have been raised by the Revenue: “1. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in deleting the addition

THE MANTOLA COOPERATIVE THRIFT & CREDIT SOCIETY LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result the appeals filed by the assessee stands partly allowed

Bench: Shri S. V. Mehrotra & Smt. Beena A. Pillai

disallowance under section 80P to interest income of Rs.63,74,470, being the amount of interest received from commercial banks, in view of the provisions of Section 80P(2)( d) of the Act, under which interest received from cooperative banks was admittedly allowable. 4. That, without prejudice, on the facts and circumstances of the case, the CIT(A) erred

JANTA ADARSH CO-OPERATIVE THRIFT & CREDIT SOCIETY LTD.,NEW DELHI vs. ITO,WARD-52(1), NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Kul Bharat

disallowance of deduction claimed u/s 80P(2)(a)(i) of the Act. 4. Aggrieved against this, the assessee preferred appeal before Ld.CIT(A) who after considering the submissions, sustained this addition and dismissed the appeal of the assessee on this issue. 5. Aggrieved against the order of Ld.CIT(A), the assessee is in appeal before this Tribunal. 6. The assessee

THE JANTA ADARSH CO-OPERATIVE THRIFT & CREDIT SOCIETY LTD.,DELHI vs. ITO WARD-52(1), DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Kul Bharat

disallowance of deduction claimed u/s 80P(2)(a)(i) of the Act. 4. Aggrieved against this, the assessee preferred appeal before Ld.CIT(A) who after considering the submissions, sustained this addition and dismissed the appeal of the assessee on this issue. 5. Aggrieved against the order of Ld.CIT(A), the assessee is in appeal before this Tribunal. 6. The assessee

MUZAFFARNAGAR DISTRICT COOPERATIVE BANK LTD.,MUZAFFARNAGAR vs. DCIT, CIRCLE- 1 , MUZAFFARNAGAR

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: Sh. Satbeer Singh Godara & Sh. M. Balaganeshita No. 1708/Del/2018 : Asstt. Year : 2015-16 Muzaffarnagar District Cooperative Vs Dcit, Bank Ltd., C/O Anil Deep & Company, Circle-1, 41/85, Sadar Bazar, Muzaffarnagar, Muzaffarnagar Uttar Pradesh-251001 (Appellant) (Respondent) Pan No. Aaaam4327P Assessee By : Sh. Sanjay Malik, Adv. Revenue By : Sh. Akhilesh Kumar Yadav, Sr. Dr Date Of Hearing: 02.12.2024 Date Of Pronouncement: 05.12.2024 Order Per Satbeer Singh Godara: This Assessee’S Appeal For Assessment Year 2015-16, Arises Against The Order Of Cit(A), Muzaffarnagar Dated 16.01.2018 In Case No. 9258-7434-250-717, In Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short “The Act”).

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 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

MUFG BANK LTD,NEW DELHI vs. ACIT (INTERNATIONAL TAXATION) CIRCLE-2(2)(1), NEW DELHI

In the result appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Mufg Bank Ltd, Vs. Acit (International Taxation), 5Th Floor, Worldmark 2, Asset 8, Circle-2(2)(1), Aerocity, Nh-8, New Delhi New Delhi Pan: Aabct3880D (Appellant) (Respondent)

b. Rule – 8D(2)(ii) & (iii) does not apply to stock-in-trade therefore, disallowance made by the AO deserves to be set aside. c. Section 14A does not apply as provisions of the DTAA are more beneficial to the assessee. d. Section 14A does not apply as income earned from securitization trust is taxable under section 115TA

ITO, WARD-58(7), NEW DELHI vs. THE CO-OPERATIVE URBAN THRIFT & CREDIT SOCIETY LTD, DELHI

In the result, the appeal is partly allowed

Bench: Shri Saktijit Dey, Vice- & Dr. B.R.R. Kumarassessment Year: 2018-19 Ito, Ward-58(7), The Co-Operative Urban Thrift New Delhi & Credit Society Ltd., 31/64, Vs. Bhikam Singh Colony, (Pan:Aabat2253J) Vishwas Nagar, Shahdara Delhi-1100 32

Section 80P(2)(a) and (b). Therefore, we sustain disallowance of Rs.37,712. 9. In the result, the appeal is partly

COMMISSIONER OF INCOME TAX

80P(2)(d) of the Act and, therefore, has to be disallowed under Section 14A. 5. The assessee succeeded in the first appeal and before the tribunal. We may notice that in the first appeal, the assessee had raised several contentions on merits as to the quantum of disallowance of the expenditure under the head “interest” and had pointed

CIT vs. KRIBHCO

80P(2)(d) of the Act and, therefore, has to be disallowed under Section 14A. 5. The assessee succeeded in the first appeal and before the tribunal. We may notice that in the first appeal, the assessee had raised several contentions on merits as to the quantum of disallowance of the expenditure under the head “interest” and had pointed

NTT DATA GLOBAL DELIVERY SERVICES LTD.,BANGALORE vs. DCIT, NEW DELHI

The appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishintt Data Global Delivery Vs. Dcit, Services Ltd, Circle-13(1), No. 17, South End Road, New Delhi Bangalore Pan: Aabck7777J (Appellant) (Respondent)

disallowance of deduction under section 10 A, is required to be made on other income and miscellaneous income of the assessee. Accordingly, he held that INR 24 4340 5880/– is other income, though it can be assessed as the business income of the assessee. However same cannot be said to be the income derived from export-oriented undertaking. Therefore

DCIT, HISAR vs. M/S SYNERGY WASTE MANAGEMENT PVT. LTD.,, HISAR

In the result, all the five captioned appeals filed by the Revenue are dismissed

Bench: Shri C.M. Garg & Shri Pradip Kumar Kedia

b) would not be applicable where an assessee had restructured his business, and filed a revised return of income with prior approval and sanction of NCLT, without any objection from department - Further, NCLT had passed last orders granting approval and sanction of schemes only on 22-4-2018 and 1-5-2018, hence, it was an impossibility for assessee companies

DCIT, HISAR vs. M/S SYNERGY WASTE MANAGEMENT PVT. LTD.,, HISAR

In the result, all the five captioned appeals filed by the Revenue are dismissed

Bench: Shri C.M. Garg & Shri Pradip Kumar Kedia

b) would not be applicable where an assessee had restructured his business, and filed a revised return of income with prior approval and sanction of NCLT, without any objection from department - Further, NCLT had passed last orders granting approval and sanction of schemes only on 22-4-2018 and 1-5-2018, hence, it was an impossibility for assessee companies

DCIT, HISAR vs. M/S SYNERGY WASTE MANAGEMENT PVT. LTD.,, HISAR

In the result, all the five captioned appeals filed by the Revenue are dismissed

Bench: Shri C.M. Garg & Shri Pradip Kumar Kedia

b) would not be applicable where an assessee had restructured his business, and filed a revised return of income with prior approval and sanction of NCLT, without any objection from department - Further, NCLT had passed last orders granting approval and sanction of schemes only on 22-4-2018 and 1-5-2018, hence, it was an impossibility for assessee companies

DCIT, HISAR vs. M/S SYNERGY WASTE MANAGEMENT PVT. LTD.,, HISAR

In the result, all the five captioned appeals filed by the Revenue are dismissed

Bench: Shri C.M. Garg & Shri Pradip Kumar Kedia

b) would not be applicable where an assessee had restructured his business, and filed a revised return of income with prior approval and sanction of NCLT, without any objection from department - Further, NCLT had passed last orders granting approval and sanction of schemes only on 22-4-2018 and 1-5-2018, hence, it was an impossibility for assessee companies

M/S. RELIGARE SECURITIES LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee stands allowed in terms of our directions contained in the preceding

Bench: Shri N.K. Billaiya & Shri Sudhanshu Srivastavaasstt. Year: 2008-09

2)(iii) of I.T. Rules . 6. Thus, in light of above, Central Board of Direct Taxes, in exercise of its powers under section 119 of the Act hereby clarifies that Rule 8D read with section 14A of the Act provides 24 M/s. Religare Securities Ltd. vs ACIT for disallowance of the expenditure even where taxpayer in a particular year