MADHUSUDANKATI SAMABAY KRISHI UNNAYAN SAMITY LTD.,KOLKATA vs. ITO, WD-49(1), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 420/Kol/2014 Assessment Year : 2010-11 Madhusudankati Samabay Vs. I.T.O.Ward 49(1), Kolkata Krishi Unnayan Samity’ Ltd. Pan : Aaaam 7591 F] (Respondent) (Appellant) For The Appellant : Kakoli Das, Ito For The Respondent : Arvind Agarwal, Advocate Date Of Hearing : 23.06.2017. Date Of Pronouncement : 14.07.2017

TDS, it cannot be said that the assessee was eligible for deduction u/s 80P in respect of the surplus of other trading incomes. Any benefit in relation to “Trade Cost” of Rs. 7,13,572/- is also not available to the assessee as it is only a recovery of expenses with no proven profit embedded therein. In view

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

TDS was availed and based upon the confirmation from the bank, which was pending at the time of assessment and which must have been received by now, and after granting an opportunity of being heard to the assessee and after considering its submission, re-adjudicate this issue on the basis of facts and as per law. The assessee claims that

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

80P(2)(a)(i) but would also be applicable to\nall banks/commercial_banks, to which Banking Regulation Act, 1949\napplies.[Para 37]\n■ From this, Punjab and Haryana High Court pointed out that this circular\ncarves out a distinction between 'stock-in-trade' and 'investment' and\nprovides that if the motive behind purchase and sale of shares is to earn\nprofit

DARJEELING DISTRICT CENTRAL CO.OP. BANK LTD. ,DARJEELING vs. ACIT(OSD)(TDS)WD-5(3), DARJEELING, , DARJEELING.

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

b) of section 44AB during the financial year immediately preceding the financial year in which such interest credited or paid, shall be liable to deduct income tax under this section. Explanation- For the purpose of this section, where any income by way of interest as aforesaid is credited to any account, whether called interest payable account or "Suspense Account

DARJEELING DISTRICT CENTRAL CO-OPERATIVE BANK LTD. ,DARJEELING vs. ACIT(OSD)(TDS),WD-5(3),DARJEELING, DARJEELING.

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

b) of section 44AB during the financial year immediately preceding the financial year in which such interest credited or paid, shall be liable to deduct income tax under this section. Explanation- For the purpose of this section, where any income by way of interest as aforesaid is credited to any account, whether called interest payable account or "Suspense Account

DARJEELING DISTRICT CENTRAL CO-OP. BANK LTD. ,DARJEELING vs. ACIT, CIR-3(1),SILIGURI. , SILIGURI

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

b) of section 44AB during the financial year immediately preceding the financial year in which such interest credited or paid, shall be liable to deduct income tax under this section. Explanation- For the purpose of this section, where any income by way of interest as aforesaid is credited to any account, whether called interest payable account or "Suspense Account

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

In the result, the appeals filed by the assessee in ITA Nos

TDS was availed and based\nupon the confirmation from the bank, which was pending at the time of\nassessment and which must have been received by now, and after\ngranting an opportunity of being heard to the assessee and after\nconsidering its submission, re-adjudicate this issue on the basis of facts\nand as per law. The assessee claims that

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

TDS was availed and based\nupon the confirmation from the bank, which was pending at the time of\nassessment and which must have been received by now, and after\ngranting an opportunity of being heard to the assessee and after\nconsidering its submission, re-adjudicate this issue on the basis of facts\nand as per law. The assessee claims that

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

TDS was availed and based\nupon the confirmation from the bank, which was pending at the time of\nassessment and which must have been received by now, and after\ngranting an opportunity of being heard to the assessee and after\nconsidering its submission, re-adjudicate this issue on the basis of facts\nand as per law. The assessee claims that

ACIT, CIRCLE-41, NADIA, NADIA vs. M/S SAKTINAGAR SAMABAY KRISHI UNNYAN SAMITY LTD., NADIA

In the result, the appeal of the revenue is dismissed

B) of Sub-section (3) of Section 194A which provided that TDS need not be deducted if payment by a co-operative society is made to a resident and the amount of interest so paid does not exceed Rs. 10,000/-. The learned DR has not disputed the applicability of the said clause in principle. He however has contended that

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

TDS was availed and based\nupon the confirmation from the bank, which was pending at the time of\nassessment and which must have been received by now, and after\ngranting an opportunity of being heard to the assessee and after\nconsidering its submission, re-adjudicate this issue on the basis of facts\nand as per law. The assessee claims that

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

TDS was availed and based\nupon the confirmation from the bank, which was pending at the time of\nassessment and which must have been received by now, and after\ngranting an opportunity of being heard to the assessee and after\nconsidering its submission, re-adjudicate this issue on the basis of facts\nand as per law. The assessee claims that

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,UTTAR DINAJPUR vs. D.C.I.T., CIRCLE - 2(1), JALPAIGURI

In the result, the appeal for A

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

80P of the Act and also the decision of the Hon'ble Supreme Court in the case of Shree Choudhary Transport Co. vs Income Tax Officer in Civil Appeal No. 7865 of 2009 and has very cryptically mentioned that “In view of the above, it is mandatory for the appellant to pay dividend Distribution Tax as per provisions of section

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,UTTAR DINAJPUR vs. A.C.I.T., CIRCLE - 2(2), JALPAIGURI

In the result, the appeal for A

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

80P of the Act and also the decision of the Hon'ble Supreme Court in the case of Shree Choudhary Transport Co. vs Income Tax Officer in Civil Appeal No. 7865 of 2009 and has very cryptically mentioned that “In view of the above, it is mandatory for the appellant to pay dividend Distribution Tax as per provisions of section

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,UTTAR DINAJPUR vs. D.C.I.T., CIRCLE - 2(2), JALPAIGURI

In the result, the appeal for A

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

80P of the Act and also the decision of the Hon'ble Supreme Court in the case of Shree Choudhary Transport Co. vs Income Tax Officer in Civil Appeal No. 7865 of 2009 and has very cryptically mentioned that “In view of the above, it is mandatory for the appellant to pay dividend Distribution Tax as per provisions of section

THE ELECTRO URBAN URBAY CO-OPERATIVE CREDIT SOCIETY LTD. ,KOLKATA vs. DCIT, CPC, BANGLURU

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

B’ BENCH, KOLKATA श्री संजय गगग, न्याधयक सदस्य एवं श्री संजय अवस्थी, लेखा सदस्य के समक्ष Before SRI SANJAY GARG, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No.: 701/KOL/2024 Assessment Year: 2021-22 The Electro Urban Urbay Co-operative Credit Society Ltd………Appellant [PAN: AADAT 5699 Q] Vs. DCIT, CPC, Bangluru.............................................................Respondent Appearances: Assessee represented by: S. Bhattacharya