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

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

disallowing the deduction referred to section 80P(4) of the Act. Section 80P(4) reads as under:- (4) The provisions

THE BANK OF RAJASTHAN EMPLOYEES CREDIT & THIRFT COOPERATIVE SOCIETY LIMITED,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR

In the results appeal of the assessee in ITA No

disallows claim of deduction by the cooperative societies on\ninterest earned from Nationalised bank as per the provisions of section 80P(2)(d)\nof the Act.\nThe provisions of Section 80P(2)(d) of the Act are reproduced as under.-\n\"80P (2)(d): Where, in the case of an assessee being a co-operative society, the gross\ntotal income

DCIT, CIRCLE-6, JAIPUR vs. M/S. JAIPUR ZILA DUGDH UTPADAK SAHAKARI SANGH LTD., JAIPUR

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

4) of the Act, the claim of the assessee under section 80(P)(2)(d) 18. Another issue that arise for consideration is whether deduction u/s 80P(2)(d) shall be allowed on the gross interest income on FDRs or it should be allowed on the net interest income calculated after deducting the interest expenditure allocable to funds placed

M/S. JAIPUR ZILA DUGDH UTPADAK SAHAKARI SANGH LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

4) of the Act, the claim of the assessee under section 80(P)(2)(d) 18. Another issue that arise for consideration is whether deduction u/s 80P(2)(d) shall be allowed on the gross interest income on FDRs or it should be allowed on the net interest income calculated after deducting the interest expenditure allocable to funds placed

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

4 Reserve Bank Coop. Society Ltd.v. ITO by holding that interest income of Rs. 5,17,43,725/- is neither eligible for deduction u / s 80P(2)(a)(i) nor u/s 80P(2)(d) The reasons given by the A.O. for disallowing claim of deduction u / s 80P(2)(a)(i) as well as under section

THE AJMER COOPERATIVE THRIFT AND SAVING SOCIETY LIMITED AJMER,AJMER vs. CIT(A), NFAC, AJMER

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

disallowed the claim of deduction under section 80P(2)(a)(i) by observing that it can be inferred that whatever activities carried out by the assessee society, the interest earned on Surplus funds invested in bank deposits, is to be treated as Income from Other Sources which is to be assessed under section 56 of the I.T. Act, 1961. Thus

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

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

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

disallow the same during the assessment proceedings which makes the assessment order erroneous in so far as it is prejudicial to the interest of the revenue. 2.1 During the year under consideration, you have received interest of Rs. 46,09,729/- from Co-operative Bank which is not allowable under section 80P(2)(d) r.w.s. 80P(4

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)

80P(2)(d) of the IT Act, 1961 and thereby allowing relief to the extent of Rs. 4,33,45,363/-. 4. Ground the appellant craves its rights to add, amend or alter any of the grounds on or before the hearing.” 4. The brief facts of the case are that the return in this case was filed

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)

80P(2)(d) of the IT Act, 1961 and thereby allowing relief to the extent of Rs. 4,33,45,363/-. 4. Ground the appellant craves its rights to add, amend or alter any of the grounds on or before the hearing.” 4. The brief facts of the case are that the return in this case was filed

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)

80P(2)(d) of the IT Act, 1961 and thereby allowing relief to the extent of Rs. 4,33,45,363/-. 4. Ground the appellant craves its rights to add, amend or alter any of the grounds on or before the hearing.” 4. The brief facts of the case are that the return in this case was filed

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)

disallowance of deduction claimed under any of the provisions of Chapter VI-A under the heading “C.— 14 Aravali Buildhome LLP Deductions in respect of certain incomes” (which includes deduction under section 80P of the Act), can be made if the return is furnished beyond the due date specified under sub-section (1) of section 139. This amendment has been

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

section 80P of the Act, on the facts and circumstances of the case. 3 That the Ld. CTT(A)- NFAC, has erred in facts and in law in confirming disallowance of deduction u/s. 80P (2)(a)(i) of Rs. 2,11,86,64,928/- 4

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)

disallowance of the assessee's claim for deduction under section 80P(2)(d) is vacated. Thus, this Ground of appeal is allowed in terms of the aforesaid observations. [Para 22] ii. Solitaire CHS Ltd. vs. Pr. CIT [IT Appeal No. 3155 (Mum.) of 2019, dated 29-11-2019]; (ITAT "G" Bench, Mumbai); iii. Kaliandas Udyog Bhavan Premises Co-Op. Society

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

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

disallowed the deduction\nclaimed by the appellant under section 80P of the Act because\nthe tax return was filed after the due date specified in section\n139(1) of the Act. According to Section 139(1) of the Act, the\ndue date for filing the return in the case of the appellant for the\n Assessment Year

JAIPUR VIDYUT VITRAN NIGAM LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed and that of the Revenue is dismissed

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

4) of Section 80P reads as under: 8 JAIPUR VIDYUT VITRAN NIGAM LTD. VS DCIT, CIRCLE-6, JAIPUR i)"co-operative bank" and "primary agricultural credit society" shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949); ii)"primary co-operative agricultural and rural development bank" means a society having