RESERVE BANK COOPERATIVE SOCIETY LTD.,JAIPUR vs. ITO, WARD-6(2), JAIPUR, JAIPUR

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

Bench: Sh. Sandep Gosain & Dr. M. L. Meena

disallowing claim of deduction u / s 80P(2)(a)(i) as well as under section 80P(2)(d) have been discussed at Para 4 to 4.1 above. It is an undisputed fact that during the year under consideration, the appellant had earned interest income of Rs. from FDRs with the 5,17,43,725/- DEPARTMEN Rajasthan State Co-operative Bank

DCIT, JAIPUR vs. RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD, JAIPUR

In the result the appeal of the revenue in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

c) of Section 80P(2). Clause (d) deals with yet another type of income earned by the Co-operative Society which is deducted while computing the total income of the assessee. However, to merit acceptance of deduction under clause (d) of Section 80P(2) of the Act, the clause referring to interest or dividend derived from investments with any other

DCIT, JAIPUR vs. RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD, JAIPUR

In the result the appeal of the revenue in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

c) of Section 80P(2). Clause (d) deals with yet another type of income earned by the Co-operative Society which is deducted while computing the total income of the assessee. However, to merit acceptance of deduction under clause (d) of Section 80P(2) of the Act, the clause referring to interest or dividend derived from investments with any other

DCIT, JAIPUR vs. RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD, JAIPUR

In the result the appeal of the revenue in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

c) of Section 80P(2). Clause (d) deals with yet another type of income earned by the Co-operative Society which is deducted while computing the total income of the assessee. However, to merit acceptance of deduction under clause (d) of Section 80P(2) of the Act, the clause referring to interest or dividend derived from investments with any other

SHRI KESHORAIPATAN SAHKARI SUGAR MILLS LIMITED,KOTA vs. PCIT, UDAIPUR

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

c) (ii) of Rs.8922/- + deduction under section 80P(2)(d) at Rs.30209525/-] after that total income shown at Nil. Case of the assessee samiti was selected for scrutiny to examine the claim of deduction under chapter VI-A. The issue on which case was selected for scrutiny was examined. After considering the facts and submission of the assessee, return income

M/S. AJMER ZILA DUGDH UTPADAK SAHAKARI SANGH LTD.,AJMER vs. PR.CIT, AJMER

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

c)** ** ** (d) in respect of any income by way of interest or dividends derived by the co-operative society from its investments with any other co- operative society, the whole of such income;" 18 Ajmer Zila Dugdh Utpadak Sahkari Sangh Ltd, Ajmer Vs. Pr. CIT, Ajmer Thus, from a perusal of the aforesaid Sec. 80P(2)(d) it can safely

WEST CENTRAL RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD.,KOTA vs. ITO, WARD-2(1), KOTA, KOTA

In the results, the appeal of the assessee in ITA no

disallowing the deduction referred to section 80P(4) of the\nAct. Section 80P(4) reads as under:-\n(4) The provisions of this section shall not apply in relation to any co-operative\nbank other than a primary agricultural credit society or a primary co-operative\nagricultural and rural development bank.”\nAs per section 80P(4), a cooperative society engaged

WEST CENTRAL RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD.,KOTA vs. ITO, WARD-2(1), KOTA, KOTA

In the results, the appeal of the assessee in ITA no

disallowing the deduction referred to section 80P(4) of the\nAct. Section 80P(4) reads as under:-\n(4) The provisions of this section shall not apply in relation to any co-operative\nbank other than a primary agricultural credit society or a primary co-operative\nagricultural and rural development bank.”\nAs per section 80P(4), a cooperative society engaged

PALSANA GRAM SEWA SAHKARI SAMITI LTD.,PALSANA vs. PCIT-2, JAIPUR

In the result, all these three appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 35 To 37/Jp/2021 Assessment Years: 2010-11 To 2012-13 Palsana Gram Sewa Sahkari Samiti Cuke Pr.Cit-2, Vs. Limited, Jaipur. Village- Palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) Pan No.: Aabap 8390 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Shrawan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Pr.Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Assessee Against The Separate Order Of The Ld. Pr.Cit-2, Jaipur All Dated 31/03/2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2010-11 To 2012-13. 2. The Hearing Of The Appeal Was Concluded Through Video Conference In View Of The Prevailing Situation Of Covid-19 Pandemic.

disallowed the expenditure of Rs.2,86,918/- on account of provisions and audit fees and computed the income of the assessee at Rs.3,95,382/- as against Rs.1,08,464/- and after deduction u/s 80P(2)(a)(i) and 80P(2)(a)(iv) at nil and completed the assessment at Rs. Nil vide assessment order

PALSANA GRAM SEWA SAHKARI SAMITI LTD.,PALASANA vs. PCIT-2, JAIPUR

In the result, all these three appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 35 To 37/Jp/2021 Assessment Years: 2010-11 To 2012-13 Palsana Gram Sewa Sahkari Samiti Cuke Pr.Cit-2, Vs. Limited, Jaipur. Village- Palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) Pan No.: Aabap 8390 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Shrawan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Pr.Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Assessee Against The Separate Order Of The Ld. Pr.Cit-2, Jaipur All Dated 31/03/2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2010-11 To 2012-13. 2. The Hearing Of The Appeal Was Concluded Through Video Conference In View Of The Prevailing Situation Of Covid-19 Pandemic.

disallowed the expenditure of Rs.2,86,918/- on account of provisions and audit fees and computed the income of the assessee at Rs.3,95,382/- as against Rs.1,08,464/- and after deduction u/s 80P(2)(a)(i) and 80P(2)(a)(iv) at nil and completed the assessment at Rs. Nil vide assessment order

PALSANA GRAM SEWA SAHKARI SAMITI LTD.,JAIPUR vs. PCIT-2, JAIPUR

In the result, all these three appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 35 To 37/Jp/2021 Assessment Years: 2010-11 To 2012-13 Palsana Gram Sewa Sahkari Samiti Cuke Pr.Cit-2, Vs. Limited, Jaipur. Village- Palsana Main Market, Palsana, Dist.- Sikar- 332402 (Raj) Pan No.: Aabap 8390 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Shrawan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Pr.Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 04/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Assessee Against The Separate Order Of The Ld. Pr.Cit-2, Jaipur All Dated 31/03/2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2010-11 To 2012-13. 2. The Hearing Of The Appeal Was Concluded Through Video Conference In View Of The Prevailing Situation Of Covid-19 Pandemic.

disallowed the expenditure of Rs.2,86,918/- on account of provisions and audit fees and computed the income of the assessee at Rs.3,95,382/- as against Rs.1,08,464/- and after deduction u/s 80P(2)(a)(i) and 80P(2)(a)(iv) at nil and completed the assessment at Rs. Nil vide assessment order

M/S RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD.,JAIPUR vs. PCIT, JAIPUR-2, JAIPUR

In the result, the appeal of the assessee is allowed

c) & (d) of sub-section (2) of section 80P. It also provided break-up of deduction as per which interest on FDR with cooperative bank of Rs.3,69,19,911/- has been claimed as deduction u/s 80P(2)(d). The assessee further submitted that deduction u/s 80P has been allowed to assessee in past while completing assessment

KATRATHAL GRAM SEWA SAHKARI SAMITI LIMITED ,KATRATHAL vs. ITO WARD 1 SIKAR, SIKAR

disallowed the deduction claimed u/s 80P as per the provision\r\nof section 80AC of the Act.\r\n5. 1. Before moving further, let me first surface provision of section 80AC of the Act\r\nwhich comes into force from 01/04/2018. The provision of section 80AC is as under\r\n:-\r\n[Deduction not to be allowed unless return

BARODA RAJASTHAN KSHETRIYA GRAMIN BANK,AJMER vs. DY. CIT (ACIT) CIRCLE -2 AJMER , CR BUILDING,OPP. SESSION COURT,JAIPUR ROAD ,AJMER

In the result, the appeal of the assessee is dismissed

Bench: Shri Gagan Goyal & Shri Narinder Kumarbaroda Rajasthan Kshetriya Gramin Bank, 2343 Rajasthan Patrika Building, Vaishali Nagar, Ajmer – 305004 Pan No. Aaajb1164C ...... Appellant

disallowance of deduction u/s. 80P of the Act. The assessee being further aggrieved preferred the present appeal before us. 4. We have gone through the order of the AO, order of the Ld. CIT(A) and submissions of the assessee alongwith grounds taken before us. It is observed that the assessee is an artificial judicial person (AJP) as the same

THE JANGID BRAJMAN CO-OPERATIVE CREDIT AND SAVING SOCIETY LTD. ,AJMER vs. PR.CIT, AJMER

In the result, the appeal of the assessee is allowed

disallowance or any other adverse action. Hence, the order passed by AO can’t be branded as erroneous and prejudicial to the interest of revenue. 9. It was also submitted that as per clause (c) of Explanation 1 to Section 263(1) where any order referred in this sub-section and passed by the AO has been subject matter

THIKARIYA GRAM SEWA SAHKARI SAMITI LTD ,THIKARIYA vs. AO CPCITO WARD SIKAR, SIKAR

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

2,22,704/- under section 80P of the\nAct. The issue for consideration before us is that whether once the\nreturn of income is filed beyond the prescribed date under section\n139(1) of the Act, can the deduction under section 80P of the Act be\ndenied to the assessee, by way of adjustment under section 143(1) of\nthe

ARAVALI BUILDHOMES LLP,JAIPUR vs. AO CPC, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

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

SHRI MADHOPUR KRAYA VIKRAYA SAHKARI SAMITI LIMITED,SHRIMADHOPUR vs. INCOME TAX OFFICER, NEEM KA THANA, NEEM KA THANA

In the result, all the three appeals of the assessee in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

80P(2)(a)(iv) of the Act. The ld. AR for the assessee submitted that even ld. CIT(A) observed in its finding that it requires verification whether sales were made to non- members and if any sales have been made to non-members what is the proportionate profit on such sales may be disallowed from the deduction claimed. Therefore