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

section 80P(2)(a) and 80P(2)(b) of Income Tax Act 1961. Your appellant society filed income tax return for the Assessment year 2017-18 on20/10/2017 showing total income Nil. 3. The Computation of Total Income as per income tax return submitted are as follows : 3.1. Computation of Income from Business or Profession are as follows : Particulars Details

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)

section 80P(2)(a) and 80P(2)(b) of Income Tax Act 1961. Your appellant society filed income tax return for the Assessment year 2017-18 on20/10/2017 showing total income Nil. 3. The Computation of Total Income as per income tax return submitted are as follows : 3.1. Computation of Income from Business or Profession are as follows : Particulars Details

RAJYADHARPARA CHANDPUR SAMABAY KRISHI UNNAYAN SAMITY LIMITED,PURBA BARDHAMAN vs. ITO, WARD - 2(4), BURDWAN

In the result, appeal of the assessee is allowed

Bench: SHRI GEORGE MATHAN (Judicial Member)

section 80P of Rs. 21,46,280/-, 6. In course of its business of banking/providing credit facilities to its members your appellant has obtained interest from Burdwan central cooperative bank, on Term deposit maintained with them and the savings account thereon, besides your appellant has also received interest of Rs. 39,690/- from the savings account maintained with Axis Bank

PANDAVESWAR COLLIERY EMPLOYEES COOPERATIVE CREDIT SOCIETY LIMITED,PANDAVESWAR vs. ITO, WARD 2(4), , DURGAPUR

In the result, the appeal of the assessee is dismissed as\nwithdrawn

depreciation at Rs.44,78,248/- and out of the\nnet profit of Rs.44,78,248/-, the assessee claimed deduction u/s\n80P(2)(a)(i) of the Act at Rs.11,58,311/- and deduction u/s 80P(2)(d)\nbeing interest/dividend from investment in other cooperative society at\nRs.33,19,937/-. As the assessee failed to filed return of income

UNITED BANK OF INDIA EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LIMITED,KOLKATA vs. I.T.O., WARD - 36(4), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.546 To 548/Kol/2022 Assessment Years: 2015-16 To 2017-18 United Bank Of India Employees Co-Operative Credit Society Ltd……Appellant 14/4, Sovaram Bysak Street, Kolkata-700007 [Pan:Aaaau1388A] Vs. Ito, Ward-36(4), Kolkata….…….....................……........……...…..…..Respondent Appearances By: Shri G. Banerjee, Ar, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2023 Date Of Pronouncing The Order : June 27, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders All Dated 28.07.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, The Facts & Issues Involved In All The Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.546/Kol/2022 For Assessment Year 2015-16 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita 546/Kol/2022 – The Assessee Has Taken The Following Grounds Of Appeal:

section 81 & 82 of the West Bengal Co-operative Societies Act, 2006 and to allow benefit u/s 80P on that interest income and (b) to ascertain the interest paid to the members for the purpose of earning the interest on the funds deposited in the commercial bank and to allow deduction of such interest from the interest income earned

UNITED BANK OF INDIA EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LIMITED,KOLKATA vs. I.T.O., WARD-36(4), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.546 To 548/Kol/2022 Assessment Years: 2015-16 To 2017-18 United Bank Of India Employees Co-Operative Credit Society Ltd……Appellant 14/4, Sovaram Bysak Street, Kolkata-700007 [Pan:Aaaau1388A] Vs. Ito, Ward-36(4), Kolkata….…….....................……........……...…..…..Respondent Appearances By: Shri G. Banerjee, Ar, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2023 Date Of Pronouncing The Order : June 27, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders All Dated 28.07.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, The Facts & Issues Involved In All The Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.546/Kol/2022 For Assessment Year 2015-16 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita 546/Kol/2022 – The Assessee Has Taken The Following Grounds Of Appeal:

section 81 & 82 of the West Bengal Co-operative Societies Act, 2006 and to allow benefit u/s 80P on that interest income and (b) to ascertain the interest paid to the members for the purpose of earning the interest on the funds deposited in the commercial bank and to allow deduction of such interest from the interest income earned

UNITED BANK OF INDIA EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LIMITED,KOLKATA vs. I.T.O., WARD-36(4), KOLKATA, KOLKATA

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

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.546 To 548/Kol/2022 Assessment Years: 2015-16 To 2017-18 United Bank Of India Employees Co-Operative Credit Society Ltd……Appellant 14/4, Sovaram Bysak Street, Kolkata-700007 [Pan:Aaaau1388A] Vs. Ito, Ward-36(4), Kolkata….…….....................……........……...…..…..Respondent Appearances By: Shri G. Banerjee, Ar, Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2023 Date Of Pronouncing The Order : June 27, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders All Dated 28.07.2022 Of The National Faceless Appeal Centre (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). Since, The Facts & Issues Involved In All The Appeals Are Identical, Hence These Have Been Heard Together & Are Being Disposed Of By This Common Order. The Appeal In Ita No.546/Kol/2022 For Assessment Year 2015-16 Is Taken As Lead Case For The Purpose Of Narration Of Facts. 2. Ita 546/Kol/2022 – The Assessee Has Taken The Following Grounds Of Appeal:

section 81 & 82 of the West Bengal Co-operative Societies Act, 2006 and to allow benefit u/s 80P on that interest income and (b) to ascertain the interest paid to the members for the purpose of earning the interest on the funds deposited in the commercial bank and to allow deduction of such interest from the interest income earned

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

depreciation and other capital expenditure mentioned is varied when such liability crystalises in the year of payment. Hence, the mark-to-market loss being only a notional loss for the purpose of the books of account of the assessee and no crystallization of such loss having been occurred during the year, such loss has rightly been disallowed

PUNCHA SAMABAY KRISHI UNNAYAN SAMITY LIMITED,BANKURA vs. ACIT, WARD 3(1), , BANKURA

In the result, the appeal of the assessee is allowed for statistical\npurposes

2,49,683/- under section 80P, for non-\nverification of expenses and disallowance of depreciation on account of\naddition to fixed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

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

depreciation and\nother capital expenditure mentioned is varied when such liability\ncrystalises in the year of payment. Hence, the mark-to-market loss\nbeing only a notional loss for the purpose of the books of account of the\nassessee and no crystallization of such loss having been occurred\nduring the year, such loss has rightly been disallowed

THE ELECTRO URBAN CO-OPERATIVE CREDIT SOCIETY LTD.,KOLKATA vs. PR.CIT-12, , KOLKATA

In the result, this assessee's appeal is allowed

Bench: Sh. P.M. Jagtap & Sh. S.S.Godara[Assessment Year: 2014-15] The Electro Urban Co- Principal Commissioner Operative Credit Society Ltd., Of Income Tax, Cesc House, Annex Kolkata-12, Building, 1St Floor, Kolkata. Vs Chowringhee Square, Kolkata-700 001. Pan- Aadat 5699 Q (Appellant) (Respondent) Appellant By Sh. Sanjay Bhattacharya, Fca. Respondent By Sh. Radhey Shyam, Cit. Date Of Hearing 10.02.2020 Date Of Pronouncement 10.07.2020 Order Per Sh. S.S. Godara: This Assessee’S Appeal For Ay 2014-15 Arises Against The Order Dated 20.03.2019 Passed By The Pr. Commissioner Of Income Tax, Kolkata-12, Kolkata In M. No. Pcit-12/Kol/263/2018-19/ In Proceedings U/S 263 Of The Income Tax Act, 1961 (In Short The “Act”).

2. We advert to the relevant facts in the instant case. This assessee is a cooperative credit society. Apart from carrying out co-operative credit activity, it owns four holiday homes on its own and also maintains/runs similar other holiday homes which are provided to its members in lieu of charging concessional maintenance charges. The assessee had filed is return

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]

depreciation of Rs. 2,54,175/- was also disallowed. The AO further noticed that Rs. 9,00,000/- was given as a grant to Cyber Research & Training Institute and the same was not related to the business activity of the assessee. Accordingly, the same was also disallowed and added back to the income of the assessee. 3. Aggrieved

ACIT, CIRCLE - 1(2), JALPAIGURI, JALPAIGURI vs. THE JALPAIGURI CENTRAL CO-OPERATIVE BANK LTD., JALPAIGURI

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

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Depreciation disallowed Rs. 5,24,657/- vi. Law charges disallowed Rs. 2,03,520/- Total assessed income at Rs. (-) 16,24,31,590/-” 3. Aggrieved by the above order, assessee went in appeal before the CIT(A) where the claim of the assessee was partly allowed by ld. CIT(A) observing as follows: “5.8 In respect of the disallowance

D.C.I.T.CIR - VIII,KOL, KOLKATA vs. SHRI RAM CHANDRA AGARWAL, KOLKATA

In the result, the appeal of the revenue is dismissed as stated above

Bench: : Shri M. Balaganesh

80P of the Act will also apply to wrong claim under the head of depreciation. Making of wrong claim is not at par with concealment or giving of inaccurate information, which may call for levy of penalty under section 271( 1) ( c) of the Act.” 5.1.2. Hon’ble High Court of Punjab and Haryana in the case