MAKER TOWER F PREMISES CO-OP SOC. LTD.,MUMBAI vs. ASSISTANT DIRECTOR OF INCOME TAX - CPC, BENGALURU

In the result, the appeal by the assessee is allowed

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

b) ..... (c) ..... (d) in respect of any income by way of interest or dividends derived by the co- operative society from its investments with any other co-operative society, the whole of such income;” 8. Thus, for the purpose of provisions of section 80P(2)(d) of the Act, two conditions are required to be cumulatively satisfied- (i) income

PREMIUM TOWER CO OPERATIVE HOUSING SOCIETY,MUMBAI vs. ITO WARD 24(3)(1), MUMBAI

In the result, the appeal filed by the assessee stands partly allowed

Bench: Shri Sandeep Gosain

b) "primary co-operative agricultural and rural development bank" means a society having its area of operation confined to a taluk and the principal object of which is to provide for long-term credit for agricultural and rural development activities.] 7. Thus, assessee being a cooperative society cannot be reckoned as cooperative bank carrying out banking business

CITIZENCREDIT CO OPERATIVE BANK LIMITED (BYCULLA BRANCH),MUMBAI vs. ITO (TDS)-1(1)(4), MUMBAI

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

TDS.", "result": "Dismissed", "sections": [ "Section 194A(1)", "Section 194A(3)(i)(b)", "Section 194A(3)(v)", "Section 194A(3)(viia)(b)", "Section 201(1)", "Section 201(1A)", "Section 271C", "Section 80P(2

CITIZENCREDIT CO OPERATIVE BANK LIMITED (KULA BRANCH),MUMBAI vs. ITO (TDS) WARD 1(1)(4), MUMBAI

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

TDS.", "result": "Dismissed", "sections": [ "Section 194A", "Section 250", "Section 201(1)", "Section 201(1A)", "Section 194A(3)(v)", "Section 194A(3)(i)(b)", "Section 194A(3)(viia)(b)", "Section 80P(2

CITIZEN CREDIT CO-OPERATIVE BANK LTD (MULUND BRANCH),MUMBAI vs. ITO (TDS)-1(1)(4), MUMBAI

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

TDS on interest payments exceeding Rs. 10,000/-.", "result": "Dismissed", "sections": [ "Section 194A(1)", "Section 194A(3)(i)(b)", "Section 194A(3)(v)", "Section 194A(3)(viia)(b)", "Section 201(1)", "Section 201(1A)", "Section 271C", "Section 80P(2

SHREE MALGANGADEVI SAHAKARI PATPEDHI MARYADIT,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX 29, MUMBAI

Accordingly, the grounds raised by the assessee is allowed

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 1074/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2014-15)

b. The main activities of patpedhi is to accept deposits from members in the form of recurring, saving A/c and Term Deposits and after retaining 10 to 30% of such amount has been utilizes for providing credit facilities to members only. By way of term loan for vehicles, housing and business and personal purpose within the frame work

CITIZEN CREDIT CO-OPERATIVE BANK LTD,MUMBAI vs. ITO (TDS)-1(1)(4), MUMBAI

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

TDS on interest payments exceeding Rs. 10,000/-.", "result": "Dismissed", "sections": [ "Section 194A(1)", "Section 194A(3)(i)(b)", "Section 194A(3)(v)", "Section 194A(3)(viia)(b)", "Section 201(1)", "Section 201(1A)", "Section 80P(2

PALM COURT M PREMISES CO OPERATIVE SOCIETY LTD. ,MUMBAI vs. PR. CIT - 30, MUMBAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Amarjit Singh () & Smt. Kavitha Rajagopal ()

TDS payments and thereby to frame the assessment de novo in accordance with law. Aggrieved by this, the assessee is in appeal before us. 6. The Ld.AR for the assessee contended that the assessee’s case was selected for limited scrutiny for the purpose of verification of (1) Income from heads of income other than business / profession mismatching; (2) Deduction

CITIZENCREDIT CO OPERATIVE BANK LIMITED ,(CHEMBUR BRANCH),MUMBAI vs. ITO (TDS)1(1)(4), MUMBAI

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

b) dealing with cooperative societies engaged in banking business are applicable and override the general exemption provided under Section 194A(3)(v). Therefore, the assessee was obligated to deduct TDS on interest payments exceeding Rs.10,000/-.", "result": "Dismissed", "sections": ["Section 194A", "Section 201", "Section 250", "Section 80P(2

CITIZENCREDIT CO-OPERATIVE BANK LIMITED (HILL ROAD BRANCH),MUMBAI vs. ITO (TDS)-WARD 1(1)(4), MUMBAI

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

TDS on interest to other Co-op. societies. On the\nother hand, the provisions of section 194A(3)(i)(b) and 194A(3)(viia)(b) of the Act\nare specific provisions dealing with Co-op. society engaged in carrying on business\nof banking. Therefore, we agree with the contention of the Id. Sr. DR that the\nspecific provisions of section

CIDCO EMPLOYEES CO-OP. CREDIT SOCIETY LTD,NAVI MUMBAI vs. WARD 28(1)(3), NAVI MUMBAI

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

Bench: Shri Anikesh Banerjee & Shri Gagan Goyalcidco Employees Co-Op. Credit Society, Ground Floor, Cidco Bhavan, Cbd Belapur, Navi Mumbai – 400 614 Pan:Aaaac2203N ..... Appellant Vs. Ito Ward 28(1) (3)/ Nfac Delhi ..... Respondent

80P of the Act, and the reason assigned are wrong and contrary to the facts and circumstances of the case. 1(c). In the facts and circumstances of the case and in law, the learned CIT [A] NFAC erred in confirming all the additions and dismissed all the grounds of the appellant. 2. The Id. AO erred in charging interest

CITIZENCREDIT CO OPERATIVE BANK LIMITED (AMBOLI BRANCH),MUMBAI vs. ITO(TDS) 1(1)(4), MUMBAI

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

b), which deal with cooperative societies engaged in the business of banking, override the general exemption provided under Section 194A(3)(v). Therefore, the assessee was liable to deduct TDS.", "result": "Dismissed", "sections": ["Section 194A", "Section 201(1)", "Section 201(1A)", "Section 80P(2

CITIZENCREDIT CO-OPERATIVE BANK LIMITED (MAHIM BRANCH),MUMBAI vs. ITO (TDS) WARD 1(1)(4), MUMBAI

Appeal of the assessee is partly allowed for statistical purposes

TDS on interest payments exceeding Rs. 10,000/-.", "result": "Dismissed", "sections": ["194A(1)", "194A(3)(i)(b)", "194A(3)(v)", "194A(3)(viia)(b)", "201(1)", "201(1A)", "80P(2

CITIZEN CREDIT CO OPERATIVE BANK LIMITED ( MULUND BRANCH),MUMBAI vs. ITO (TDS)1(1)(4), MUMBAI

TDS on interest to other Co-op. societies. On the\nother hand, the provisions of section 194A(3)(i)(b) and 194A(3)(viia)(b) of the Act\nare specific provisions dealing with Co-op. society engaged in carrying on business\nof banking. Therefore, we agree with the contention of the Id. Sr. DR that the\nspecific provisions of section

CITIZEN CREDIT CO-OPERATIVE BANK LTD (KALINA BRANCH),MUMBAI vs. ITO (TDS)-1(1)(4), MUMBAI

b) of the Act, which deal with cooperative societies engaged in the business of banking, prevail over the general exemption provided under Section 194A(3)(v). Therefore, the assessee was liable to deduct TDS.", "result": "Dismissed", "sections": ["Section 250 of the Income-tax Act, 1961", "Section 194A of the Income-tax Act, 1961", "Section 201(1) of the Income

CITIZENCREDIT CO OPERATIVE BANK LIMITED ( BORIVILI BRANCH),MUMBAI vs. ITO (TDS)1(1)(4), MUMBAI

In the results, all the appeals of the assessee are dismissed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

80P of the Act and consequently, it cannot avail the benefits of section 194A(3)(i) and section 194A(3)(v) of the Act. It also does not get any exemption u/s 194A(3)(iii)(a) which provides for exemption only if the income is credited or paid to any banking company or any cooperative society carrying on the business

CITIZEN CREDIT CO-OPERATIVE BANK LTD (COLABA BRANCH),MUMBAI vs. ITO (TDS)-1(1)(4), MUMBAI

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

TDS on interest to other Co-op. societies. On the\nother hand, the provisions of section 194A(3)(i)(b) and 194A(3)(viia)(b) of the Act\nare specific provisions dealing with Co-op. society engaged in carrying on business\nof banking. Therefore, we agree with the contention of the Id. Sr. DR that the\nspecific provisions of section

CITIZEN CREDIT CO-OPERATIVE BANK LTD (VAKOLA BRANCH),MUMBAI vs. ITO (TDS)-1(1)(4), MUMBAI

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

TDS on interest to other Co-op. societies. On the\nother hand, the provisions of section 194A(3)(i)(b) and 194A(3)(viia)(b) of the Act\nare specific provisions dealing with Co-op. society engaged in carrying on business\nof banking. Therefore, we agree with the contention of the Id. Sr. DR that the\nspecific provisions of section