THE MAMURPUR CO-OPERATIVE THRIFT AND CREDIT SOCIETY LTD.,NEW DELHI vs. ADDL. CIT, RANGE- 38, NEW DELHI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri H.S. Sidhu & Shri O.P. Kant

80P of the Act. The return of income filed by the assessee was selected for scrutiny assessment. The scrutiny assessment under section 143(3) of the Act was completed on 26/12/2016 at total income of ₹ 1,03,830/-in the status of Association of persons (AOP). Thereafter, learned Additional Commissioner of Income Tax levied penalty of ₹ 36,45,841/- vide

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

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

2)(d) and sub-section (4) thereof, the entire deduction was not inadmissible and consequently the amount of penalty imposed was also incorrect.” 4 ITA Nos.2830 to 2834/Del./2015 3. Briefly stated the facts necessary for adjudication of the controversy at hand are : The assessee is a cooperative thrift and credit society providing credit facility to its members

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

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

2)(d) and sub-section (4) thereof, the entire deduction was not inadmissible and consequently the amount of penalty imposed was also incorrect.” 4 ITA Nos.2830 to 2834/Del./2015 3. Briefly stated the facts necessary for adjudication of the controversy at hand are : The assessee is a cooperative thrift and credit society providing credit facility to its members

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

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

2)(d) and sub-section (4) thereof, the entire deduction was not inadmissible and consequently the amount of penalty imposed was also incorrect.” 4 ITA Nos.2830 to 2834/Del./2015 3. Briefly stated the facts necessary for adjudication of the controversy at hand are : The assessee is a cooperative thrift and credit society providing credit facility to its members

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

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

2)(d) and sub-section (4) thereof, the entire deduction was not inadmissible and consequently the amount of penalty imposed was also incorrect.” 4 ITA Nos.2830 to 2834/Del./2015 3. Briefly stated the facts necessary for adjudication of the controversy at hand are : The assessee is a cooperative thrift and credit society providing credit facility to its members

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

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

2)(d) and sub-section (4) thereof, the entire deduction was not inadmissible and consequently the amount of penalty imposed was also incorrect.” 4 ITA Nos.2830 to 2834/Del./2015 3. Briefly stated the facts necessary for adjudication of the controversy at hand are : The assessee is a cooperative thrift and credit society providing credit facility to its members

CAIRN UK HOLDING LTD.,AHMEDABAD vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result ground No. 5 of the appeal of the assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

2)/2Q13-14/453 dated ' 25.02.2014" (Emphasis added) 6.8 Further, in the said reasons, at various places reference was given of the February 2014. This goes to prove that the survey report was received by the AO in the month of February 2014 only. 6.9 In view of the above, the Appellant submits that since the survey report had been received

DCIT, REWARI vs. M/S THE REWARI DISTRICT PRIMARY CO-OPERATIVE AGRICULTURE & RURAL DEVELOPMENT BANK LTD.,, REWARI

Appeal of the Revenue is dismissed

D with effect from 01.04.2000 and the assessee being co-operative bank is not covered by the provisions applicable to the schedule banks. 4. The assessee’s contention that interest due was not debited in the account of respective borrowers on treating the accounts as per NPA after identifying the advances of bank as NPA as per RBI guidelines

THE JEEVAN SANCHAY COOPERATIVE URBAN THRIFT AND CREDIT SOCIETY LTD,NEW DELHI vs. ITO, WARD-53(1), NEW DELHI

In the result, the appeal filed by the assessee stands allowed

Bench: Shri H. S. Sidhui.T.A. No. 8070/Del/2018 Assessment Year: 2015-16 The Jeevan Sanchay Cooperative Vs. Income Tax Officer, Urban Thrift & Credit Society Ltd., Ward-53(1), New Delhi B-66, Bk Dutt Colony, New Delhi (Pan:Aadat6757F) (Assessee) (Respondent)

80P (2) (d) in the Income tax Return duly filed. 5. That on the facts and the circumstances of the case the Learned Assessing officer has erred in initiating penalty proceedings u/s 271 (1) (c) read with section

MUZAFFARNAGAR DISTT. COOPERATIVE DEVELOPMENT FEDERATION LTD.,MUZAFFARNAGAR vs. ACIT, MUZAFFARNAGAR

Bench: Shri R.S. Syal & Smt Suchitra Kamble

d) of the Act. The other income is also exempt as the assessee was engaged in activity of purchase of agricultural equipments etc. The Ld. AR submitted that the discrepancy pointed out by the Assessing Officer was already before the Assessing Officer as the entries made in the stock register was not at all disputed by the Assessing Officer

M/S MUZAFFARNAGAR DISTT. CO-OPERATIVE DEVELOPMENT FEDERATION LTD.,UTTAR PRADESH vs. ADDL. CIT, MUZAFFARNAGAR

Bench: Shri R.S. Syal & Smt Suchitra Kamble

d) of the Act. The other income is also exempt as the assessee was engaged in activity of purchase of agricultural equipments etc. The Ld. AR submitted that the discrepancy pointed out by the Assessing Officer was already before the Assessing Officer as the entries made in the stock register was not at all disputed by the Assessing Officer

M/S. M.NAGAR DISTT. CO-OP DEVELOPMENT FED. LTD.,MUZAFFARNAGAR vs. JCIT, MUZAFFARNAGAR

Bench: Shri R.S. Syal & Smt Suchitra Kamble

d) of the Act. The other income is also exempt as the assessee was engaged in activity of purchase of agricultural equipments etc. The Ld. AR submitted that the discrepancy pointed out by the Assessing Officer was already before the Assessing Officer as the entries made in the stock register was not at all disputed by the Assessing Officer

M/S MUZAFFARNAGAR DISTT. CO-OPERATIVE DEVELOPMENT FEDERATION LTD.,UTTAR PRADESH vs. ADDL. CIT, MUZAFFARNAGAR

Bench: Shri R.S. Syal & Smt Suchitra Kamble

d) of the Act. The other income is also exempt as the assessee was engaged in activity of purchase of agricultural equipments etc. The Ld. AR submitted that the discrepancy pointed out by the Assessing Officer was already before the Assessing Officer as the entries made in the stock register was not at all disputed by the Assessing Officer

DISTRICT CO- OPERATIVE BANK LTD.,DEHRADUN vs. DCIT, DEHRADUN

In the result appeal of the assessee is allowed

Bench: Sh. A.T.Varkey, Jm & Sh. Prashant Maharishi, Am Ita No. 3533/Del/2012 : Asstt. Year : 2007-08

d) of the Act. However, with the Page 5 of 8 amendment in Section 80P and insertion of Sub-section (4) from 01.04.2007, assessee was, admittedly, not entitled to such deductions. The assessee, a banking institution and a registered co- operative society, of course, ought to have been remained vigilant while filing its return or revised return but, it remains

DELHI STATE TAXI OPERATORS CO-OPERATIVE THRIFT CREDIT & SERVICES SOCIETY LTD,NEW DELHI vs. JCIT RANGE - 60, NEW DELHI

Bench: Shri Shamim Yahya & Ms. Astha Chandra

D E R PER ASTHA CHANDRA, JM The two appeals filed by the assessee are directed against two separate orders both dated 28.03.2019 of the Ld. Commissioner of Income Tax (Appeals)–19, New Delhi (“CIT(A)”) whereby he upheld the penalty of Rs. 16,71,24,134/- and Rs. 2,01,58,524/- levied by the Ld. JCIT Range

DELHI STATE TAXI OPERATORS CO-OPERATIVE THRIFT CREDIT & SERVICES SOCIETY LTD,NEW DELHI vs. JCIT RANGE - 60, NEW DELHI

Bench: Shri Shamim Yahya & Ms. Astha Chandra

D E R PER ASTHA CHANDRA, JM The two appeals filed by the assessee are directed against two separate orders both dated 28.03.2019 of the Ld. Commissioner of Income Tax (Appeals)–19, New Delhi (“CIT(A)”) whereby he upheld the penalty of Rs. 16,71,24,134/- and Rs. 2,01,58,524/- levied by the Ld. JCIT Range

ALLIED FINANCE P. LTD.,NEW DELHI vs. ACIT, DELHI

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2015-16 Co-Operative Cane Vs. Income Tax Officer, Development Union Ltd., Ward-1(2), Cane Union, Hapur, Ghaziabad Uttar Pradesh Pan: Aaajc0224M (Appellant) (Respondent) With Assessment Year: 2010-11 With Assessment Year: 2010-11 With Assessment Year: 2011-12 With Assessment Year: 2011-12 With Assessment Year: 2012-13 With Assessment Year: 2012-13

u/s. 80P(2)(a)(i) of the Act. The Hon'ble Punjab & Haryana High Court in the case of CIT vs. Punjab State Cooperative Federation of Housing Building Societies Ltd. 11 taxmann.com 448, the Hon'ble Gujarat High Court in the case of State Bank of India Vs. CIT 389 ITR 578 (Guj.), the Hon'ble Delhi High Court

ACIT SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM & TRANSPORTATION DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

d) a port, airport, inland waterway, inland port or navigational channel in the sea. ……………….. ………………. (7) The deduction under sub-section (1) from profits and gains derived from an undertaking shall not be admissible unless the accounts of the undertaking for the previous year relevant to the assessment year for which the deduction is claimed have been audited by an accountant

ADDI. CIT SPL. RANGE-3, NEW DELHI vs. DELHI TOURISM & TRANSPORTATION DEVELOPMENT CORPORATION LTD. , NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

d) a port, airport, inland waterway, inland port or navigational channel in the sea. ……………….. ………………. (7) The deduction under sub-section (1) from profits and gains derived from an undertaking shall not be admissible unless the accounts of the undertaking for the previous year relevant to the assessment year for which the deduction is claimed have been audited by an accountant