THE W.B STATE CO-OP AGRI AND RURAL DEVELOPMENT BANK LIMITED. ,KOLKATA vs. DCIT, CIR-54,KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

4. The assessee filed its return of income for the assessment year 2013-14 on 31.10.2013, declaring the total income of Rs. 10,49,660/-. The return was selected for scrutiny and the Assessing Officer passed the impugned assessment order dated 30th March, 2016 under section 143(3) of the said Act, making addition in respect of Overdue Interest amounting

TALUK GOPALPUR SAMABAY KRISHI UNNAYAN SAMITY LIMITED. ,MEDINIPUR vs. ITO, WARD NO-27(3), HALDIA, HALDIA

In the result, the appellant fails with respect to ground no

Bench: Pradip Kumar Choubey & Sri Sanjay Awasthi

4. Mr. Majumder, learned senior advocate, Additional Advocate-General appears on behalf of assessee-respondent. He submits, his client is an existing cooperative society, on whom deeming provision in section 6 of West Bengal Co-operative Societies Act, 2006 operates. He relies on sections 79 and 82 therein for provisions relating to firstly, investment of funds by his client

JALUIDANGA PASCHIM NASARATPUR SAMABY KRISHI UNNAYAN SAMITY LIMITED,BARDHAMAN, WEST BENGAL vs. INCOME TAX OPPFICER, WARD-1(3), BURDWAN

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

capital gains NIL Income from other sources NIL Less: Deduction under Section 80P of the 29,58,419.00 Income Tax Act, 1961 Total income NIL 4

THE BANK OF TOKYO-MITSUBISHI LIMITED,KOLKATA vs. ADIT, INT. TAX., KOLKATA

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

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

capital gains NIL Income from other sources NIL Less: Deduction under Section 80P of the 29,58,419.00 Income Tax Act, 1961 Total income NIL 4

AIHO SAMABAY KRISHI UNNAYAN SAMITY LTD.,MALDA vs. ITO, WARD-3(1), MALDA

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.129/Kol/2024 Assessment Year: 2017-18 Aiho Samabay Krishi Unnayan Samity Ltd..……………....………....Appellant Jadab Nagar, Aiho Maldah – 732121. [Pan: Aabaa0284A] Vs. Ito, Ward-3(1), Malda….….................................................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 28, 2024 Date Of Pronouncing The Order : July 30 , 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee-Society Against The Order Dated 29.11.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee-Society In This Appeal Has Taken The Following Grounds Of Appeal: “1. For That The Ld. Cit(A) Was Not Justified In Confirming The Action Of The A.O (Cpc) In Not Granting The Benefit Of Deduction U/S 80(P) To The Tune Of Rs.35,83,555/- In Respect Of Income Earned From Deposits With Bank From Non-Agricultural Purposes. 2. For That The Ld. Cit(A) Was Not Justified In Confirming The Action Of The A.O (Cpc) To Disallowance Of The Cash Deposit During The Demonetization Period Amounting To Rs.1,86,30,500/- & Wrongly Added Total Rs.2,22,14,055 As Taxable Income.

capital and reserve of which are not less than one lakh of rupees; and 3) the bye-law of which do not permit admission of any other co-operative society as a member. If a co-operative society fulfils all the above three conditions, it is to be treated as co-operative bank for the purpose of section 80P(4

ACIT, CIR.-29,, KOLKATA vs. M/S STEEL AUTHORITY OF INDIA EMPLOYEES CO-OP. CR. SOCIETY LTD., KOLKATA

In the result, the appeal of the revenue is hereby dismissed

Bench: Dr. Manish Borad & Shri Sonjoy Sarma] I.T.A. No. 268/Kol/2023 Assessment Year : 2018-19 Acit, Circle-29, Kolkata Vs. M/S. Steel Authority Of India Employees Co-Operative Credit Society Limited Pan: Aadas 9699 B Appellant Respondent Date Of Hearing 15.05.2023 Date Of Pronouncement 09.08.2023 For The Assessee Shri S.K. Tulsiyan, Advocate & Mrs. Puja Somani, Ca For The Revenue Smt. Ranu Biswas, Addl. Cit, Dr Order Per Sonjoy Sarma, Jm: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 20.12.2022 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Revenue Has Raised The Following Grounds Of Appeal:

gains of the business of providing credit facilities to its members. In the respective assessment order (For AY 2008-09, 2012-13, 2013-14 & 2014-15) the AO has calculated the deduction u/s 80P in respect of net income in the area of providing credit facilities to the members by applying his own formula. Attention, at the juncture is invited

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

gains of business and profession'. The Board also went to the extent of\nsaying that this would not be limited only to co-operative societies/Banks\nclaiming deduction under section 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

DHATRIGRAM NIRALGACHI SAMABAY KRISHI UNNAYAN SAMITY LIMITED,WEST BENGAL, PURBA BARDHAMAN vs. INCOME TAX OFFICER, WARD-1(3), BURDWAN

Appeal of the assessee is allowed

Bench: SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

capital, if not immediately required to be lent to the members, the society cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains of the business of providing credit facilities to its members only. The society is not carrying

BARDHAMAN DISHARI SHRAMIK O JANAALYAN SAMABAY SAMITY LIMITED,BURDWAN vs. A.C.I.T., CIRCLE - 1, BURDWAN, BURDWAN

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

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 80P of the Act due to the wrong status code of Trust in the PAN of the assessee. There were technical defects is the return for filing up the column “K” in schedule- VIA in the return as a result of which the Column-10 in the part B-TI 4 I.T.A. No. 1722/Kol/2024 Assessment Year: 2008-09 Bardhaman

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

4 being general in nature does not need any separate\nadjudication.\n6.4 In the result, the assessee's appeal in ITA No. 466/KOL/2018 is\npartly allowed for statistical purposes.\nA.2 Now we shall take up the Revenue's appeal in ITA No.\n622/KOL/2018 for adjudication.\n7.\nGround No. 1 relates to the deletion of disallowance of ₹ 31.58\ncrores

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

4 being general in nature does not need any separate adjudication. 6.4 In the result, the assessee's appeal in ITA No. 466/KOL/2018 is partly allowed for statistical purposes. A.2 Now we shall take up the Revenue's appeal in ITA No. 622/KOL/2018 for adjudication. 7. Ground No. 1 relates to the deletion of disallowance of ₹ 31.58 crores

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

4 being general in nature does not need any separate\nadjudication.\n6.4 In the result, the assessee's appeal in ITA No. 466/KOL/2018 is\npartly allowed for statistical purposes.\nA.2 Now we shall take up the Revenue's appeal in ITA No.\n622/KOL/2018 for adjudication.\n7.\nGround No. 1 relates to the deletion of disallowance of ₹ 31.58\ncrores

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

4 being general in nature does not need any separate\nadjudication.\n6.4 In the result, the assessee's appeal in ITA No. 466/KOL/2018 is\npartly allowed for statistical purposes.\nA.2 Now we shall take up the Revenue's appeal in ITA No.\n622/KOL/2018 for adjudication.\n7.\nGround No. 1 relates to the deletion of disallowance of ₹ 31.58\ncrores

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

4 being general in nature does not need any separate\nadjudication.\n6.4 In the result, the assessee's appeal in ITA No. 466/KOL/2018 is\npartly allowed for statistical purposes.\nA.2 Now we shall take up the Revenue's appeal in ITA No.\n622/KOL/2018 for adjudication.\n7.\nGround No. 1 relates to the deletion of disallowance of ₹ 31.58\ncrores

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

4 being general in nature does not need any separate\nadjudication.\n6.4 In the result, the assessee's appeal in ITA No. 466/KOL/2018 is\npartly allowed for statistical purposes.\nA.2 Now we shall take up the Revenue's appeal in ITA No.\n622/KOL/2018 for adjudication.\n7.\nGround No. 1 relates to the deletion of disallowance of ₹ 31.58\ncrores