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

disallowing this deduction in respect of the interest earned from bank deposits. While doing so, the AO relied upon the judgment of the Hon’ble Supreme Court in the case of Totgars Co- operative Sale Society Ltd. vs. ITO [2010] 188 taxman 282 . ITA Nos. 2036 & 4078/Del/2019 6 Mantola Cooperative Thrift & Credit Society Ltd. 8. The ld. CIT (A) confirmed

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

disallowing this deduction in respect of the interest earned from bank deposits. While doing so, the AO relied upon the judgment of the Hon’ble Supreme Court in the case of Totgars Co- operative Sale Society Ltd. vs. ITO [2010] 188 taxman 282 . ITA Nos. 2036 & 4078/Del/2019 6 Mantola Cooperative Thrift & Credit Society Ltd. 8. The ld. CIT (A) confirmed

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

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

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

c), which gives the right to the assessee for claiming the deductions bona fidely. So going through the above facts and case laws, it is humbly prayed that the appeal of the department may please be dismissed.” 5. The ld. Counsel of the assessee, precisely reiterating the above written submissions, submitted that the assessee company is claiming deduction u/s 80IA

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

c), which gives the right to the assessee for claiming the deductions bona fidely. So going through the above facts and case laws, it is humbly prayed that the appeal of the department may please be dismissed.” 5. The ld. Counsel of the assessee, precisely reiterating the above written submissions, submitted that the assessee company is claiming deduction u/s 80IA

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

c), which gives the right to the assessee for claiming the deductions bona fidely. So going through the above facts and case laws, it is humbly prayed that the appeal of the department may please be dismissed.” 5. The ld. Counsel of the assessee, precisely reiterating the above written submissions, submitted that the assessee company is claiming deduction u/s 80IA

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

c), which gives the right to the assessee for claiming the deductions bona fidely. So going through the above facts and case laws, it is humbly prayed that the appeal of the department may please be dismissed.” 5. The ld. Counsel of the assessee, precisely reiterating the above written submissions, submitted that the assessee company is claiming deduction u/s 80IA

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

c)(ii) in respect of interest income earned from other co-operative banks. 3. Briefly, the facts are, assessee is a Credit Co-operative Society and assessed in the status of Association of Persons (AOP). In the return of income filed for the assessment year under dispute, assessee had claimed deduction under Section 80P(2) in respect of interest income

SAINI CO-OPERATIVE THARIFT AND CREDIT SOCIETY LTD,DELHI vs. ITO WARD-48(1), DELHI

In the result, the appeal is allowed

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

c ie t y 25 /1 067 76 652 3 (1 ) Da te d: Lt d. 20. 08 .2 024 2. Heard both the parties at length. Case files perused. Saini Co-operative Thrift & Credit Society Ltd. 3. It emerges after a combined perusal of the assessee’s instant twin appeals for the very assessment year 2016-17 involving assessment

SAINI CO-OPERATIVE THARIFT AND CREDIT SOCIETY LTD,DELHI vs. ITO WARD-48(1), DELHI

In the result, the appeal is allowed

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman

c ie t y 25 /1 067 76 652 3 (1 ) Da te d: Lt d. 20. 08 .2 024 2. Heard both the parties at length. Case files perused. Saini Co-operative Thrift & Credit Society Ltd. 3. It emerges after a combined perusal of the assessee’s instant twin appeals for the very assessment year 2016-17 involving assessment

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)

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 of the Act. e. Disallowance made under Rule – 8D(2)(ii) is bad as the assessee had enough interest free funds available. Each of the aforesaid

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

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

SAHAKARI GANNA VIKAS SAMITI,UTTAR PRADESH vs. ITO-2(5) CHANDAUSI, UTTAR PRADESH

In the result, appeal of the assessee is allowed

Bench: Sh. Kul Bharat & Sh. Pradip Kumar Kediasahakari Ganna Vikas Vs. Ito-2(5), Samiti, Sikri Gate Chandausi Chandausi, Sambhal, Uttar Pradesh Uttar Pradesh-244 412 Pan No. Aaaaf 1459 L (Appellant) (Respondent) Assessee By Shri Fuzail Ahmad Ayyubi, Adv. Revenue By Shri Anuj Garg, Sr. D.R. Date Of Hearing: 19.07.2023 Date Of Pronouncement: 19.07.2023

2,22,704/- under section 80P of the Act. The issue for consideration before us is that whether once the return of income is filed beyond the prescribed date under section 139(1) of the Act, can the deduction under section 80P of the Act be denied to the assessee, by way of adjustment under section

CANADIAN SPECIALITY VINYLS,NEW DELHI vs. ITO WARD - 63(4), NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri Chandra Mohan Garg & M.Balaganeshassessment Year: 2015-16 M/S. Canadian Specialty Vinyls Ito Ward-63(4), Delhi 110055 49, Rani Janshi Road, Jhandewalan, New Delhi 110055 Vs. Pan Aagfc 0200 J

2,00,10,879/- on account of late filling of income tax return. He further submitted that the CIT (A) has also erred on facts and in law for not considering the timely filling of Audit Report us 80IC in form 10CCB under rule 18BBB and tax audit report in form 3CB/CD us 44AB of Income Tax Act, 1961 from