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

disallowance of deduction under section 80P and dismissing the ground raised by the appellant, despite holding in para 6.1.8 that the interest received from deposits made with co- operative banks/societies is eligible for deduction under section 80P (sic section 80P(2)(d

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

disallowance of deduction under section 80P and dismissing the ground raised by the appellant, despite holding in para 6.1.8 that the interest received from deposits made with co- operative banks/societies is eligible for deduction under section 80P (sic section 80P(2)(d

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

d) of the I.T. Act. The issue is covered in favour of the assessee-society by the Judgment of the Hon’ble Karnataka High Court in the case of M/s. Totagars Cooperative Sale Society (supra) and other decisions of various 21 ITA.Nos.2787 & 2788/Del./2018 M/s. The Veer Cooperative Group Housing Society Limited, New Delhi. Benches of the Tribunal referred

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

d) of the I.T. Act. The issue is covered in favour of the assessee-society by the Judgment of the Hon’ble Karnataka High Court in the case of M/s. Totagars Cooperative Sale Society (supra) and other decisions of various 21 ITA.Nos.2787 & 2788/Del./2018 M/s. The Veer Cooperative Group Housing Society Limited, New Delhi. Benches of the Tribunal referred

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

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

disallowance of deduction under section 80P(2)(d) being interest on FDR amounting to Rs.1,34,65,081/- and S.B. interest

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

section 2(19) of the Act. 5. That, without prejudice to ground No. 1 to 3, on the facts and in the circumstances of the case the case the Ld. CIT(A), NFAC has grossly erred both on facts and in law in confirming the addition Rs.7,60,197/- by not allowing deduction u/s.80P(2)(d

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

section 2(19) of the Act. 5. That, without prejudice to ground No. 1 to 3, on the facts and in the circumstances of the case the case the Ld. CIT(A), NFAC has grossly erred both on facts and in law in confirming the addition Rs.7,60,197/- by not allowing deduction u/s.80P(2)(d

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”).

d) of NABARD Act, 1981 defines central co- operative bank while Section 2(u) defines a state co-operative bank to mean the principal co- operative society in a State, the primary object of which is financing of other co-operative societies in the State which means, it is in the nature of an apex co-operative bank having regard

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

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 and re-assessment proceedings; that the learned lower authorities hold it as not entitled

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

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 and re-assessment proceedings; that the learned lower authorities hold it as not entitled

GOHANA CO-OP MARKETING PROCESSING SOCIETY LTD,GOHANA vs. INCOME TAX OFFICER, SONIPAT

In the result, the appeal of the assessee is dismissed

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar[Assessment Year : 2018-19] Gohana Co-Op Marketing Vs Ito, Processing Society Ltd., Shop No.1, Sonipat. New Anaj Mandi, Gohana, Sonipat, Haryana-131301 Pan-Aaaag0108Q Appellant Respondent Appellant By None Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 24.04.2024 Date Of Pronouncement 30.04.2024 Order

section 80P(2)(a)(i) of the Income tax Act, 1961.”_ 3. At the time of hearing, no one attended the proceedings on behalf of the assessee. It is seen from the record that no one has been attending the proceedings on behalf of the assessee despite various opportunities were provided to the assessee. On the last date of hearing

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)

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 contention is explained in detail below. Section 14A is not applicable in case of bank when

COMMISSIONER OF INCOME TAX

Section 80P(2)(d) of the Act and, therefore, has to be disallowed under Section 14A. 5. The assessee succeeded

CIT vs. KRIBHCO

Section 80P(2)(d) of the Act and, therefore, has to be disallowed under Section 14A. 5. The assessee succeeded

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,MODI NAGAR vs. ITO,WARD-1(2), GHAZIABAD

disallowed by the lower authorities for income earned from interest on deposits and commission from M/s. Modi Industries. The assessment orders were dated 04.12.2017.", "held": "The Tribunal held that interest income earned by a cooperative society from investments in cooperative banks and nationalized banks is eligible for deduction under section 80P(2)(a)(i) and 80P(2)(d

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)(d) of the Act is available on interest income earned from other co-operative societies and not from banks. Accordingly, he disallowed

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,MODI NAGAR vs. ITO,WARD-1(2), GHAZIABAD

disallowed deductions on interest income from banks and commission income, treating them as income from other sources.", "held": "The Tribunal held that interest earned by a cooperative society from investments in banks qualifies for deduction under Section 80P(2)(a)(i) and 80P(2)(d

CO-OPERATIVE CANE DEVELOPMENT UNION LTD.,MODI NAGAR vs. ITO,WARD-1(2), GHAZIABAD

disallowed for section 80P deduction. The Assessing Officer and CIT(A) treated these incomes as 'income from other sources'. The appeals were filed against these orders.", "held": "The Tribunal held that interest income earned from investments of surplus funds with cooperative banks and nationalized banks is eligible for deduction under section 80P(2)(a)(i) and 80P(2)(d