BLUE ROSE INDUSTRIAL PREMISES CO-OP SOCIETY LTD ,MUMBAI vs. INCOME TAX OFFICER, WARD - 42(1)(1),, MUMBAI

In the result, the assessee’s appeal ITA NO

Bench: SHRI PRASHANT MAHARISHI (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

property of the society and to raise funds for the management, maintenance and administration of activities from the members of the society. The appellant society filed its return of income for A.Y. 2018- 19 on 30.10.2018 declaring income of Rs. 2,43,620/- after claiming a deduction of Rs. 37,45,701/- u/s. 80P of the Act. Subsequently, the assessee

BLUE ROSE INDUSTRIAL PREMISES CO-OP SOCIETY LTD ,MUMBAI vs. INCOME TAX OFFICER, WARD - 42(1)(1), MUMBAI, MUMBAI

In the result, the assessee’s appeal ITA NO

Bench: SHRI PRASHANT MAHARISHI (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

property of the society and to raise funds for the management, maintenance and administration of activities from the members of the society. The appellant society filed its return of income for A.Y. 2018- 19 on 30.10.2018 declaring income of Rs. 2,43,620/- after claiming a deduction of Rs. 37,45,701/- u/s. 80P of the Act. Subsequently, the assessee

GALAXY COOP HSG SOC LTD,NAVI MUMBAI vs. ITO WARD(1)(1), THANE, THANE, MAHARAHSTRA

Section 80P(2)(d) and income from house property under Section 80P(2)(c). The CPC disallowed the claim. The Assessee

LAXMI CO-OPERATIVE HOUSING SOCIETY LTD ,MUMBAI vs. INCOME TAX OFFICER- 22(2)(3), MUMBAI

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

Bench: Shri Amit Shukla & Shri Gagan Goyal & Laxmi Co-Operative Housing Society Ltd. Laxmi Nagar, Khar(W), Mumbai-400 052 Pan: Aaaal1009P ...... Appellant Vs.

80P. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub- section (2), in computing the total income of the assessee. (2) The sums

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

In the result, the assessee‟s appeal ITA NO

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

80P. Deduction in respect of income of co-operative societies. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

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

In the result, the assessee‟s appeal ITA NO

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

80P. Deduction in respect of income of co-operative societies. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

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

In the result, the assessee‟s appeal ITA NO

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

80P. Deduction in respect of income of co-operative societies. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing

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

House Building Societies Ltd Vs. ITO, [1982] 2 ITD 617 (Chd.), after considering the meaning of the word “investment” held that the section 80P(2)(d) of the Act also covers interest income from saving accounts. The relevant findings of the Co-ordinate Bench, in the aforesaid decision, are reproduced as follows: - “4. We have heard the parties

SAGAR PREMISES CO-OPERATIVE SOCITEY LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CPC BENGALURU INCOME TAX OFFICER -17(3)(1), MUMBAI

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

Bench: Shir Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blesagar Premises Co-Operative Society Ltd., V. Income Tax Officer – 17(3)(1) 327, Sagar Premises, Narshi Natha Street Kautilya Bhavan Kharek Bazar, Masjid (W), Mumbai - 400009 Bandra Kurla Complex Bandra(E), Mumbai - 400051 Pan: Aamas0482M (Appellant) (Respondent)

80P. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub- section (2), in computing the total income of the assessee. (2) The sums

VAIBHAV CO-OPERATIVE CREDIT SOCIETY ,MUMBAI vs. PRINCIPLE CIT-27 , MUMBAI

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

Bench: Shri Amit Shukla & Shri Gagan Goyalvaibhav Co-Operative Credit Society At Post, Ghansoli Thane-Belapur Road Thane- 400 701 Pan:Aaaav3417F ...... Appellant Vs.

80P. (1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred to in sub-section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub-section (2), in computing the total income of the assessee. (2) The sums

MUMBAI POSTAL EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LTD ,MUMBAI vs. INCOME TAX OFFICER, WARD 17(2)(1), MUMBAI

In the result, both the appeal of the assessee are allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-Operative Credit Ward 17(2)(1) Society Limited, Gpo Room No. 115, 1 St Floor, Building, Fort, Kautilya Bhavan, C-41 To Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaajm0032G Appellant .. Respondent

property of the members whose money was withheld and invested and therefore was a liability of the said society. Totgars Co-operative Sales Society accounted this as its income and claimed deduction u/s 80P of the Act. In case of the Assessee, the amount invested in deposits with MDCC Bank was its own money and therefore the interest earned

MUMBAI POSTAL EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LTD,MUMBAI vs. INCOME TAX OFFICER, WARD 17(2)(1), MUMBAI

In the result, both the appeal of the assessee are allowed

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-Operative Credit Ward 17(2)(1) Society Limited, Gpo Room No. 115, 1 St Floor, Building, Fort, Kautilya Bhavan, C-41 To Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaajm0032G Appellant .. Respondent

property of the members whose money was withheld and invested and therefore was a liability of the said society. Totgars Co-operative Sales Society accounted this as its income and claimed deduction u/s 80P of the Act. In case of the Assessee, the amount invested in deposits with MDCC Bank was its own money and therefore the interest earned

INCOME TAX OFFICER, MUMBAI vs. LARSEN TOUBRO KAMGAR SAHAKARI PATPEDNI MARYDIT, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Housing Society Ltd, Tribunal has analysed the judgments of the Hon’ble Karnataka High Court as cited by the department in the grounds of appeal after observing and holding as under:- “4. After hearing both the parties and on perusal of the impugned order, we find that the only issue is with respect of allowability of deduction of Rs.13

PREMIUM TOWER COOPERATIVE HOUSING SOCIETY LTD,MUMBAI vs. THE COMMISSIONER (APPEALS)OF INCOME TAX, MUMBAI

In the result, appeal of the assessee is allowed

property taxes, water charges and other revenue expenses such as electricity, water, security etc. to maintain society situated at Oshiwara, Andheri (W), Mumbai. It has made fixed deposit with various co-operative banks and has earned interest income on fixed deposits and recurring deposits held with many cooperative banks which was claimed as deduction u/s. 80P (2

PREMIUM TOWER COOP HOUSING SOCIETY LTD,MUMBAI vs. ITO, WARD 24(3(3), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), MS. PADMAVATHY S (Accountant Member)

2)(d). The ld. AO had disallowed the claim after referring to the provision of Section 80P(4). The ld. CIT(A) too has confirmed the said disallowance. 4. We find that this issue has been discussed in detailed by the Tribunal in A.Y.2015-16 wherein all the contentions raised by the ld. CIT(A) has been dealt in detail including

D.S.K. MADHUBAN (WING A&B) CO-OP HOUSING SOCIETY LID,MUMBAI vs. ITO 41(1)(1), MUMBAI

In the result the appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Hon’Ble Shri Sandeep Gosain

property tax debited to profit and loss account, but not paid till the due date of filing of return. It was further contended that since the assessee is a cooperative society and neither has any business nor has any business income. Therefore, all the income and expenses are DSK Madhuban (Wing A&B) Co-Op Housing Society, Mumbai solely

D.S.K. MADHUBAN (WING A&B ) CO -OP HOUSING SOCIETY LTD,MUMBAI vs. ITO 41(1)(1) , MUMBAI

In the result the appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Hon’Ble Shri Sandeep Gosain

property tax debited to profit and loss account, but not paid till the due date of filing of return. It was further contended that since the assessee is a cooperative society and neither has any business nor has any business income. Therefore, all the income and expenses are DSK Madhuban (Wing A&B) Co-Op Housing Society, Mumbai solely

M/S. THE AJANTA IDEAL CO-OPERATIVE HOUSING SOCIETY LIMITED,MUMBAI vs. ASST. DIRECTOR OF INCOMETAX, CPC , BENGALURU

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

Bench: Shir Pavan Kumar Gadalethe Ajanta Ideal Co- Vs. Adit,Cpc Operative Housing 1Stfloor,Prestigealpha, Society Ltd, 7/1+2, Hosour Road, Ajanta Apartments, Bengaluru-560100. Near Bus Station, 75, Colaba Road, Mumbai-400005 Pan/Gir No. : Aaaat7871M Appellant .. Respondent Appellant By : None Respondent By : Ms. Jayashree Thakur.Dr Date Of Hearing 27.04.2023 Date Of Pronouncement 28.04.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Appeal Is Filed By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi/Cit(A) Passed U/Sec 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

80P (2)(d) of the Act made by the CPC under section 143(1) of the Act, without appreciating that the disallowance is a debatable issue and hence the adjustment is bad in laws 2. The brief facts of the case are that the assessee is a Cooperative Housing Society registered under Maharashtra Co-operative Societies Act 1960. The assessee