EVEREST GRANDE COMMERCIAL PREMISES CO-OP. SOCIETY LTD,MUMBAI vs. ITO, 24 (1)(1), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhaileverest Grande Commercial Premises Co- Op. Society Ltd Cts 46/34, Plot 3A Everest Grande Society, Mahakali Caves Road, Andheri Kurla Road, ............... Appellant Andheri (East), Mumbai- 400093 Pan: Aaaae5455A

property and collecting charges from its members. Further, the assessee is not engaged in any lending activity, does not maintain any loan portfolio, and does not carry out banking functions such as accepting deposits from the public or issuing loans and advances. In the present case, the assessee received interest on fixed deposits and saving bank accounts from various

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

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

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.

c) of sub-section (2), shall be allowed with reference to the income, if any, as referred to in those clauses included in the gross total income as reduced by the deductions under section 80HH, section 80HHA, section 80HHB, section 80HHC, section 80HHD, section 80-I, section 80-IA, section 80J and section 80JJ. (4) The provisions of this section

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

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

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

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

C.) Refer Annexure 21 If a co-operative bank, carrying on business of banking, is statutorily required to place a part of its fund in approved securities income arising from such investment is deductible under section us 80P(2)(a)(0). The insertion of sec 80P (4) from AY 2007-08 would presently deny co- operative banks benefit of these

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

C.) Refer Annexure 21 If a co-operative bank, carrying on business of banking, is statutorily required to place a part of its fund in approved securities income arising from such investment is deductible under section us 80P(2)(a)(0). The insertion of sec 80P (4) from AY 2007-08 would presently deny co- operative banks benefit of these

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

HINDUSTAN CO-OPERATIVE CREDIT SOCIETY LTD.,MUMBAI vs. ITO, W-26(1)(5), MUMBAI, MUMBAI

In the result, these appeals of the assessee stands partly allowed for statistical purposes

properties, debtors and goods of the borrowers of the society. The insurance premium paid by the society is charged and recovered from the respective members and staff. These services are part and parcel of the business of the society For rendering the above services insurance companies pay the society insurance commission instead of paying to the agents of the insurance

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

Section 43B reads as "a deduction otherwise allowable", in this case since the assessee income from member's contribution is not taxable under the concept of mutuality, the assessee has not claimed the said expenses as deduction in its return. c) The appellant, therefore, prays that the disallowance made

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

Section 43B reads as "a deduction otherwise allowable", in this case since the assessee income from member's contribution is not taxable under the concept of mutuality, the assessee has not claimed the said expenses as deduction in its return. c) The appellant, therefore, prays that the disallowance made

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)

C‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SMT RENU JAUHRI, ACCOUNTANT MEMBER Income Tax Officer Vs. Larsen Toubro Kamgar Room No.614, Sahakari Patpedni Kautilya Bhawan Marydit BKC, Gate No.1, Larsen Maharashtra-400 051 Toubro Campus Saki Vihar Road Powai, Maharashtra-400 072 PAN/GIR No.AAABL0014H (Appellant) .. (Respondent) Assessee by Shri V.G. Ginde Revenue by Shri Lieder Panicker Date

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

In the result, appeal of the assessee is allowed

C‘ BENCH MUMBAI BEFORE: SHRI B R BASKARAN, ACCOUNTANT MEMBER & SHRI, AMIT SHUKLA, JUDICIAL MEMBER M/s. Premium Tower Co- Vs. The Commissioner operative Housing Society (Appeals) of Ltd. Office of the Society, Income Tax Ground Floor, Premium Mumbai Tower, CHSL, Lion Sole Marg, Oshiwara, Andheri (West) Mumbai – 400 053 PAN/GIR No.AABAP6171B (Appellant) .. (Respondent) Assessee by Shri Subrata Sen Revenue

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:

property and interest on fixed deposits with the Cooperative Banks. M/s The Ajanta Ideal co-operative Housing Society., Mumbai. The assesee has filed the return of income for the A.Y 2020-2021 on 08.01.2021 disclosing a total income of Rs.31,950/- after claiming deduction u/s 80P(2)(d) of the Act of Rs.4,74,119/-.Subsequently the return of income