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

68,38,319 54,12,931 80P(2)(a)(i) Tax demand if deduction u/s 80P(2)(a)(i) is restricted to income earned from 80,77,256 76,45,770 84,00,520 members only Alternate claim of deduction considering deduction under section

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

68,38,319 54,12,931 80P(2)(a)(i) Tax demand if deduction u/s 80P(2)(a)(i) is restricted to income earned from 80,77,256 76,45,770 84,00,520 members only Alternate claim of deduction considering deduction under section

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

68 taxmann.com 298 (Kerala), the Kerala High Court held that a return filed by assessee beyond period stipulated under section 139(1) or 139(4) or under section 142(1) or section 148 can also be accepted and acted upon for entertaining claim raised under section 80P

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

section 80P(2)(a)(i) deduction of Rs.1,03,68,974/-; representing it’s interest received from fixed deposit

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

section 80P(2)(a)(i) deduction of Rs.1,03,68,974/-; representing it’s interest received from fixed deposit

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

section 80P deduction going by Totgars Co-operative Sale Society Ltd. Vs. ITO, Karnataka [2010] 188 Taxman 282 (SC). 5. Learned departmental representative accordingly reiterates before us that all these three heads of the assessee’s receipts could be held to have been derived from the eligible undertaking and business activities; as the case may be, which has been

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

68,580/- on 24.11.2009. 03. While passing assessment order AO initiated penalty proceedings u/s 271(1) (c) of the act. In response to the penalty notice assessee submitted before AO that :- a. The Deduction was available to the assessee up to A Y 2006-07 and therefore this year assessee was under impression about the availability of this deduction

CA COOPERATIVE THRIFT & CREDIT SOCIETY LTD,DELHI vs. PCIT, DELHI

In the result the appeal of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

68 of the Act. 5. Assuming jurisdiction conferred upon him by provisions of section 263 of the Act, the PCIT issued a show cause notice holding that the assessment order dated 24.12.2019 is not only erroneous but also prejudicial to the interest of the revenue. 6. The PCIT was of the opinion that only income derived from interest/dividend

CA COOPERATIVE THRIFT & CREDIT SOCIETY LIMITED ,DELHI vs. PCIT, DELHI-20, DELHI

In the result the appeal of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

68 of the Act. 5. Assuming jurisdiction conferred upon him by provisions of section 263 of the Act, the PCIT issued a show cause notice holding that the assessment order dated 24.12.2019 is not only erroneous but also prejudicial to the interest of the revenue. 6. The PCIT was of the opinion that only income derived from interest/dividend

DCIT, NEW DELHI vs. M/S. THE VAISH CO-OPERATIVE ADARSH BANK LTD., NEW DELHI

In the result, the appeal of the Revenue being devoid of merits is

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

80P is to be amended to give effect to the above proposal. It is also proposed to amend section 8 The Satara District Central Co. Op. Bank Ltd. 2(24) to provide that profits and gains of business of banking (Including providing credit facilities) carried on by a co- operative society with its members shall be included

DIVYA CREATION,NOIDA vs. PR.CIT, NOIDA

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2013-14 M/S. Divya Creation, Vs. Pr. Cit, Plot No. 97, Nsez, Noida Aayakar Bhawan, A2 D- Block, Sector 24, Noida Pan :Aadfd4879K (Appellant) (Respondent)

68,296/- earned on various FDR’s is concerned, the Ld. DR submitted that the Ld. CIT pointed out to the assessee that interest income earned on surplus fund parked or interest income earned on FDRs for availing credit cannot be said to be derived from business of export in view of the decision in the case of CIT versus

SAHKARI GANNA VIKAS SAMITI LIMITED,BADAYUN vs. ACIT - 2, MORADABAD

Appeal is partly allowed

Bench: Shri Satbeer Singh Godaraassessment Year: 2017-18 Sahkari Ganna Vikas Samiti Vs. Acit-2, Limited, Moradabad C/O-Ayyubi Chamber, Raniganj, Lakhimpur Kheri, Badaun, Uttar Pradesh Pan :Aazfs2514E (Appellant) (Respondent) Assessee By None Department By Sh. Sanjay Kumar, Sr. Dr

section 80P so as to include income from sources other than the actual conduct of the Business of the Society and thus Interest Income on FDR's & S. B. A/c is attributable to the business of providing credit facilities and providing assistance to cane growers for better development cane crops. (6) That the Authorities below erred on facts

COOPERATIVE CANE DEVELOPMENT SOCIETY LTD MORNA,MORNA MUZAFFARNAGAR vs. AO NFAC DELHI, NFAC DELHI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2020-21 Cooperative Cane Vs. Assessing Officer, Development Society Ltd., Nfac, Delhi Morna, District Muzaffarnagar, Uttar Pradesh Pan: Aaefc0580D (Appellant) (Respondent)

section 80P deduction claim representing interest income from savings account maintained with nationalized/cooperative banks (supra), as the case may be. We are of the considered view that the Revenue’s instant first and foremost substantive argument hardly deserves to be accepted in light of ITO Vs. Shri Bhairavnath Multistate Cooperative Credit Society Ltd. (2024) 164 taxmann.com 382 (Pune Trib

CO-OPERATIVE CANE DEVELOPMENT UNION PVT. LTD, MODI NAGAR,MODI NAGAR,UTTAR PRADESH vs. INCOME TAX OFFICER, WARD 2 1 (2), GHAZIABAD

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2017-18 Vs. Income Tax Officer, M/S. Co-Operative Cane Development Union Pvt. Ltd., Ward-2(1)(2), Modi Nagar, Ghaziabad Uttar Pradesh Pan: Aaajc0168M (Appellant) (Respondent) Assessee By Sh. Ibad Mushtaq, Adv. Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr

section 80P disallowance/addition. The Revenue quotes case law Totgars Co-operative Sale Society Ltd. Vs. ITO, Karnataka [2010] 188 Taxman 282 (SC) that such interest incomes could not be held to have been derived from the regular business activity carried out by the assessee-society, and, therefore, the impugned disallowance deserves to be upheld. 4. The assessee

MAWANA SUGARS LTD.,,NEW DELHI vs. DCIT (LTU), NEW DELHI

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2017-18 Vs. Income Tax Officer, M/S. Co-Operative Cane Development Union Pvt. Ltd., Ward-2(1)(2), Modi Nagar, Ghaziabad Uttar Pradesh Pan: Aaajc0168M (Appellant) (Respondent) Assessee By Sh. Ibad Mushtaq, Adv. Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr

section 80P disallowance/addition. The Revenue quotes case law Totgars Co-operative Sale Society Ltd. Vs. ITO, Karnataka [2010] 188 Taxman 282 (SC) that such interest incomes could not be held to have been derived from the regular business activity carried out by the assessee-society, and, therefore, the impugned disallowance deserves to be upheld. 4. The assessee

M/S. CO-OPERATIVE CANE DEVELOPMENT UNION LTD. ROHANA KALAN,MUZAFFARNAGAR vs. DCIT, MUZAFFARNAGAR

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Co-Operative Cane Vs. Dcit, Development Union Ltd. Circle-1, Rohana Kalan, Muzaffarnagar C/O- Mashkoor Ahmad, Adv., 10-Dr. Suresh Market, Bhagat Singh Road, Muzaffarnagar Pan: Aaajc0343A (Appellant) (Respondent) Assessee By None Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr

section 80P disallowance/addition. The Revenue quotes case law Totgars Co-operative Sale Society Ltd. Vs. ITO, Karnataka [2010] 188 Taxman 282 (SC) that such an interest income could not be held to have been derived from the regular business activity carried out by the assessee-society; and, therefore, the impugned disallowance deserves to be upheld. 4. The assessee

SAINI CO OPERATIVE THARIFT AND CREDIT SOCIETY LTD,DELHI vs. CIT(A)-NFAC, DELHI

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahmanita No. 834/Del/2024 : Asstt. Year : 2011-12 Ita No. 836/Del/2024 : Asstt. Year : 2015-16 Saini Co-Operative Thrift & Credit Vs Cit(A)-16, Society Ltd., 2420-2421, Bazar New Delhi-110002 Kamra Bangash, A. G. C. R. Central Delhi, New Delhi-110002 (Appellant) (Respondent) Pan No. Aabas8396K Assessee By : Sh. K. Sampath, Adv. & Sh. V. Rajkumar, Adv. Revenue By : Sh. Sahil Kumar Bansal, Sr. Dr Date Of Hearing: 12.12.2024 Date Of Pronouncement: 20.12.2024 Order Per Satbeer Singh Godara: These Assessee’S Twin Appeal In Ita No. 834/Del/2024 For Assessment Years 2011-12, Arise Against The Cit(A)-16, New Delhi’S Order Dated 06.08.2019 Passed In Case No. 10333/2018-19 In Proceedings U/S 143(3) R.W.S. 147 & It’S Latter Appeal Ita No. 836/Del/2024 For A.Y. 2015-16, Is Directed Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2023-24/1059607361(1) Dated 11.01.2024, In Proceedings U/S 271B Of The Income Tax Act, 1961 (In Short “The Act”), Respectively.

section 80P(2)(a)(i) deduction of Rs.1,03,68,974/-; representing it’s interest received from fixed deposit

SAINI CO OPERATIVE THARIFT AND CREDIT SOCIETY LTD,DELHI vs. CIT(A)-16, DELHI

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahmanita No. 834/Del/2024 : Asstt. Year : 2011-12 Ita No. 836/Del/2024 : Asstt. Year : 2015-16 Saini Co-Operative Thrift & Credit Vs Cit(A)-16, Society Ltd., 2420-2421, Bazar New Delhi-110002 Kamra Bangash, A. G. C. R. Central Delhi, New Delhi-110002 (Appellant) (Respondent) Pan No. Aabas8396K Assessee By : Sh. K. Sampath, Adv. & Sh. V. Rajkumar, Adv. Revenue By : Sh. Sahil Kumar Bansal, Sr. Dr Date Of Hearing: 12.12.2024 Date Of Pronouncement: 20.12.2024 Order Per Satbeer Singh Godara: These Assessee’S Twin Appeal In Ita No. 834/Del/2024 For Assessment Years 2011-12, Arise Against The Cit(A)-16, New Delhi’S Order Dated 06.08.2019 Passed In Case No. 10333/2018-19 In Proceedings U/S 143(3) R.W.S. 147 & It’S Latter Appeal Ita No. 836/Del/2024 For A.Y. 2015-16, Is Directed Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2023-24/1059607361(1) Dated 11.01.2024, In Proceedings U/S 271B Of The Income Tax Act, 1961 (In Short “The Act”), Respectively.

section 80P(2)(a)(i) deduction of Rs.1,03,68,974/-; representing it’s interest received from fixed deposit

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.

68,269/- for the AY 2011-12 made by the A.O. u/s 14A. The Ld. Counsel for the Assessee submitted that ‘the disallowance u/s14A read with Rule 8D has been computed and added to the income of the assessee. The various case laws have also been referred to by the A.O. to justify the disallowance pertinently the decision