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

ADDL. CIT, BULANDSHAHR vs. M/S. ZILA SAHKARI BANK LTD, BULANDSHAHR

In the result appeal of the revenue is allowed for statistical purposes accordingly

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiaddl. Cit, Vs. Zila Sahkari Bank Ltd, Bulandshahr Motibagh, Bulandshahr Pan:Aaaaz0005B (Appellant) (Respondent)

E R PER PRASHANT MAHARISHI, A. M. 1. This is an appeal filed by the revenue against the order of the ld CIT(A), Meerut dated 20.09.2013 for the Assessment Year 2007-08. 2. The Revenue has raised the following grounds of appeal:- “1. That the ld CIT(A) has failed to notice that section 80P

GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(3), GURGAON, GURGAON

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Chandra Mohan Garg[Assessment Year : 2014-15] Galleria Condominium Vs Ito, Association, Galleria Building, Ward-1(3), Dlf Phase Iv, Dlf City, Gurgaon. Gurgaon, Haryana-122002. Pan-Aaaag3018P Appellant Respondent Appellant By Shri Rishabh Aggarwal, Ca & Ms. Jaishree, Ca Respondent By Shri Mithalesh Kumar Pandey, Sr. Dr Date Of Hearing 13.09.2022 Date Of Pronouncement 19.09.2022

section 80P(2)(d) of the Income Tax Act, 1961. As interest income is disbursed to members who had contributed to it. 4. Further as per verdict of Bangalore Club v/s Commissioner of Income Tax, Interest income is not taxable as concept of mutuality has been extended to define groups of people who contribute to a common fund, controlled

GREAT EASTERN EXPORTS vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

E deals with computation of capital gains and Part F deals with the income from other sources. Remaining Part A and Part C dealing with income from salaries and from house property respectively. Part B of Chapter IV which dealt with the income from interest on securities has since been deleted. Part

GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(3), GURGAON, GURGAON

In the result, all the appeals filed by the assessee are remanded back to the file of the Assessing Officer for fresh assessment

Bench: Shri Amit Shuklaas S.M.C. (Through Video Conferencing)

E R PER AMIT SHUKLA, J. M. : The aforesaid appeals have been filed by the assessee against the impugned order dated 18.10.2017, passed by the ld. Commissioner of Income Tax (Appeals)–2, Gurgaon [hereinafter referred to as CIT (Appeals)] for the quantum of assessment passed under Section 147/143(3) of the Income Tax Act, 1961 (the Act) pertaining

GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(3), GURGAON, GURGAON

In the result, all the appeals filed by the assessee are remanded back to the file of the Assessing Officer for fresh assessment

Bench: Shri Amit Shuklaas S.M.C. (Through Video Conferencing)

E R PER AMIT SHUKLA, J. M. : The aforesaid appeals have been filed by the assessee against the impugned order dated 18.10.2017, passed by the ld. Commissioner of Income Tax (Appeals)–2, Gurgaon [hereinafter referred to as CIT (Appeals)] for the quantum of assessment passed under Section 147/143(3) of the Income Tax Act, 1961 (the Act) pertaining

GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(5), GURGAON, GURUGRAM

In the result, all the appeals filed by the assessee are remanded back to the file of the Assessing Officer for fresh assessment

Bench: Shri Amit Shuklaas S.M.C. (Through Video Conferencing)

E R PER AMIT SHUKLA, J. M. : The aforesaid appeals have been filed by the assessee against the impugned order dated 18.10.2017, passed by the ld. Commissioner of Income Tax (Appeals)–2, Gurgaon [hereinafter referred to as CIT (Appeals)] for the quantum of assessment passed under Section 147/143(3) of the Income Tax Act, 1961 (the Act) pertaining

ACIT, BULANDSHAHR vs. M/S ZILA SAHKARI BANK LTD.,, BULANDSHAHR

In the result, the appeal of the Revenue is dismissed

Bench: Shri R. K. Panda & Ms Suchitra Kambleacit Vs Zila Sahkari Bank Ltd. Circle, Income Tax Office, Opp. Moti Bagh Teacher’S Colony Bulandshahar Bulandshahar Aaaaz0005B (Appellant) (Respondent)

section 80P was no more available to any Regional Rural Bank (RRB) from A.Y. 2007-08. 2. Ld. CIT (A) has erred in law as well as on facts in deleting the addition of 2 Rs. 1.82.02.860/- in view of the OM dated 25.08.2006 addressed to RBI clarifying that Regional Rural Banks would not be eligible for deduction u/s 80P

PR.COMMISSIONER OF INCOME TAX-6 vs. NATIONAL HOUSING BANK

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

80P; (e) "housing finance company" means a public company formed or registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes; (f) "public company" shall have the meaning assigned to it in section 3 of the Companies

PR.COMMISSIONER OF INCOME TAX -6 vs. NATIONAL HOUSING BANK

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

80P; (e) "housing finance company" means a public company formed or registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes; (f) "public company" shall have the meaning assigned to it in section 3 of the Companies

PR. COMMISSIONER OF INCOME TAX-6 vs. NATIONAL HOUSING BANK

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

80P; (e) "housing finance company" means a public company formed or registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes; (f) "public company" shall have the meaning assigned to it in section 3 of the Companies

PR.COMMISSIONER OF INCOME TAX-6 vs. NATIONAL HOUSING BANK

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

80P; (e) "housing finance company" means a public company formed or registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes; (f) "public company" shall have the meaning assigned to it in section 3 of the Companies

PR. COMMISSIONER OF INCOME TAX -6 vs. NATIONAL HOUSING BANK

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

80P; (e) "housing finance company" means a public company formed or registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes; (f) "public company" shall have the meaning assigned to it in section 3 of the Companies

M/S THE ORIENTAL INSSURANCE CO.LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

e) Guest House Expenses - Rs. 47,43,236/- (f) Provision for Standard Assets - Rs. 2,94,82,474/- 3. The Id. Assessing Officer has made an addition of a sum of Rs. 10,27,94,88,259/- on account of gains from transfer of long term capital asset being equity shares on which STT has been levied which was claimed

ZILA SAHKARI BANK LTD.,BULANDSHAHR vs. DCIT, CIRCLE- 3(1), BULANDSHAHR

In the result, the appeal of the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri M. Balaganeshassessment Year: 2015-16 Zila Sahkari Bank Ltd., Bulandshahr Vs Dcit, C/O Kashyap & Co., Circle-3(1), 114, Citi Centre, Bulandshahr. Bb Road, Meerut, Uttar Pradesh – 250001. Pan: Aaaaz0005B (Appellant) (Respondent) Assessee By : Shri P.S. Kashyap, Ca Revenue By : Shri Bhupendra Anant, Sr. Dr Date Of Hearing : 08.05.2023 Date Of Pronouncement : 22.05.2023 Order Per M. Balaganesh, Am: This Appeal In Ita No.914/Del/2021 For Ay 2015-16 Arises Out Of The Order Of The Commissioner Of Income Tax (Appeals), Ghaziabad [Hereinafter Referred To As ‘Ld. Cit(A)’, In Short] In Appeal No.358717431080118 Dated 31.07.2019 Against The Order Of Assessment Passed U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Dated 22.12.2017 By The Ld. Assessing Officer, Circle-3(1), Bulandshahr (Hereinafter Referred To As ‘Ld. Ao’).

house property. Return declaring income of Rs. 3,50,53,910/- was E-filed on 27.09.2012. During the course of assessment proceedings, it was observed by the Assessing Officer that the assessee had credited the amount of Rs. 1,82,02,860/- on account of dividend under the head gross receipts which had been claimed exempt in the computation

ACIT CIRCLE-54(1), NEW DELHI vs. NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA, NEW DELHI

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

House, Siddhartha Ld. Departmental Representative. Enclave, Ashram Chowk, New SPM Civic Centre, Delhi New Delhi PAN No. AAAAN4629F ( APPELLANT ) ( RESPONDENT ) Assessee by : Sh. Herin Mehta, CA, Sh. Nirbhey Metha, Adv Department by: Ms. Sarita Kumari, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 09 .08.2023 ORDER PER YOGESH KUMAR U.S., JM These four appeals are filed by the revenue

NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA,NEW DELHI vs. ACIT CIRCLE-32(1), NEW DELHI

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

House, Siddhartha Ld. Departmental Representative. Enclave, Ashram Chowk, New SPM Civic Centre, Delhi New Delhi PAN No. AAAAN4629F ( APPELLANT ) ( RESPONDENT ) Assessee by : Sh. Herin Mehta, CA, Sh. Nirbhey Metha, Adv Department by: Ms. Sarita Kumari, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 09 .08.2023 ORDER PER YOGESH KUMAR U.S., JM These four appeals are filed by the revenue

ACIT CIRCLE-54(1), NEW DELHI vs. NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA, NEW DELHI

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

House, Siddhartha Ld. Departmental Representative. Enclave, Ashram Chowk, New SPM Civic Centre, Delhi New Delhi PAN No. AAAAN4629F ( APPELLANT ) ( RESPONDENT ) Assessee by : Sh. Herin Mehta, CA, Sh. Nirbhey Metha, Adv Department by: Ms. Sarita Kumari, CIT DR Date of Hearing 07.06.2023 Date of Pronouncement 09 .08.2023 ORDER PER YOGESH KUMAR U.S., JM These four appeals are filed by the revenue