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

80P(2) of the Act. The total income of the assessee thus was determined by the AO at Rs. 49,85,106/- after allowing the deduction of Rs. 50,000/- in the assessment completed under section 143(3) vide an order dated 09.03.2015. 3 I.T.A. No. 2370/Kol/2016 M/s. Saktinagar Samabay Krishi Unnayan Samity Ltd. 3. Against the order passed

DEORAH NAHALA BAIKANTHAPUR SKUS LTD., ,HOWRAH vs. ITO, WARD - 46(3) , KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Sanjay Gargi.T.A. No.2484/Kol/2018 Assessment Year: 2015-16 Deorah Nahala Baikanthapur Skus Ltd.………………………….……Appellant Shyampur-Ii, Ps: Sasati, Village: Deorah, Howrah-711326. [Pan:Aaald0610P] Vs. Ito, Ward-46(3), Kolkata ………………………………...………..…..Respondent Appearances By: Shri P. Sarkar, Advocate, Appeared On Behalf Of The Appellant. Shri Jayanta Khanra, Jcit, Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : July 08, 2021 Date Of Pronouncing The Order : July 08, 2021 Order The Present Appeal Has Been Preferred By The Assessee For The Assessment Year 2015-16 Against The Order Dated 09.10.2018 Of The Commissioner Of Income Tax(Appeals)-14, Kolkata (Hereinafter Referred To As The ‘Cit(A)’).

section 80P(2), are exempt from taxation. Admittedly, as mentioned by the Assessing Officer in the assessment order itself, the assessee-society was carrying on business of banking and providing credit facilities to its members and also taking deposits from its farmer members. Therefore, accepting deposits on interest is one of the activities of the assessee-society. In the business

THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

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

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

TDS; (ii) disallowance of claim of deduction of Rs. 10,00,000/- u/s 80G of the Act towards donation, and (iii) disallowance of claim of deduction of Rs. 1,45,86,229/- u/s 80P(2)(d) of the Act in respect of interest income from investments made with Cooperative Banks. Thereafter, penalty proceedings u/s 270A of the Act for under

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

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

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

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

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

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

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

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

2) [Omitted by the Finance Act, 1992, w.e.f. 1-6-1992] (3) The provision of sub-section (1) shall not apply- " (i) 7 ITA Nos. 766-768/Kol/2023 Darjeeling District Central Coop. Bank Ltd. AYs: 2016-17 & 2017-18. (ii) .. (v) To such income credited or paid by a co-operative society to a member thereof or to such income

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

2) [Omitted by the Finance Act, 1992, w.e.f. 1-6-1992] (3) The provision of sub-section (1) shall not apply- " (i) 7 ITA Nos. 766-768/Kol/2023 Darjeeling District Central Coop. Bank Ltd. AYs: 2016-17 & 2017-18. (ii) .. (v) To such income credited or paid by a co-operative society to a member thereof or to such income

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

2) [Omitted by the Finance Act, 1992, w.e.f. 1-6-1992] (3) The provision of sub-section (1) shall not apply- " (i) 7 ITA Nos. 766-768/Kol/2023 Darjeeling District Central Coop. Bank Ltd. AYs: 2016-17 & 2017-18. (ii) .. (v) To such income credited or paid by a co-operative society to a member thereof or to such income

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

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

2)(d) of the Act. It is also directed that the disallowance u/s 36(1)(va) of the Act should be considered under the overall ambit of Section 80P of the Act, in case it is allowed and also the credit of TDS

GOGHAT THANA LARGE SIZED PRIMARY COOPERATIVE AGRICULTURAL MARKETING SOCIETY LTD.,HOOGHLY vs. ACIT, CIR-1, HOOGHLY, HOOGHLY

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 1872 /Kol/2017 Assessment Year : 2012-13 M/S Goghat Thana Large Sized Primary -Vs- Acit, Circle-1, Hooghly Cooperative Agricultural Marketing Society Ltd. [Pan: Aaalg 0062 E ] (Appellant) (Respondent)

TDS under law, such disallowance would ultimately increase assessee's profits from business of developing housing project. The ultimate profits of assessee after adjusting disallowance under section 40(a)(ia) of the Act would qualify for deduction under section 80-IB of the Act. This view was taken by the courts in the following cases: 4 5 M/s Goghat Thana

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. 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

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

METROPOLITAN ENGG. CO-OPT SOCIETY LTD.,NADIA vs. JCIT, RG.NADIA, NADIA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.405/Kol/2014 ("नधा"रण वष" /Assessment Year:2007-2008) M/S Metropolitan Engg. Co-Operative Vs. Jcit, Range-Nadia Society Limited, C/O. P.S.Gupta(Advocate) 100, Bank Lane, Hatar Para P.O. Krishnagar, Dist-Nadia, Pin-741101 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Aaefm 4520 H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri P.S.Gupta, Advocate Revenue By : Md. Ghyas Uddin, Jcit सुनवाई क" तार"ख / Date Of Hearing : 04/01/2017 घोषणा क" तार"ख/Date Of Pronouncement 13/01/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee, Pertaining To The Assessment Year 2007-08, Is Directed Against The Order Passed By The Ld. Commissioner Of Income Tax (Appeals)-Xxxvi, Kolkata, In Appeal No.995/Cit(A)-Xxxvi/Kol/Jcit, Range, Nadia/09-10, Dated 31.12.2013, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961, (In Short The ‘Act’), Dated, 18.12.2009. 2. Brief Facts Of The Case Qua The Assessee Are That Assessee Filed Its Return Of Income Declaring Total Income Of Rs.26,54,071/-. Assessee’S Case Was Selected For Scrutiny & The Ao Completed The Assessment U/S.143(3) By Making Various Additions. 3. Aggrieved From The Order Of The Ao, Assessee Filed An Appeal

TDS u/s. 194C of the IT Act. 7.2 Accordingly, a show cause notice was issued to the assessee as under: "You have incurred substantial expense under the head labour, repair of machine, dumper and machinery hire charges etc. 1) Please produce the evidence of tax deduction and deposit. Please also produce books of accounts, challans and vouchers relating