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

GALAXY CO OP HSG SOCIETY LTD,NAVI MUMBAI vs. ITO WARD(1)(1), THANE, THANE, MAHARAHSTRA

house property income.", "result": "Allowed", "sections": [ "80P(2)(c)", "80P(2)(d)", "250", "143(1)", "80P(4)", "2(19)" ], "issues

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

d) was denied. 5. Aggrieved by the said additions, assessee preferred appeal, but the same was dismissed by Ld.CIT(A). 6. Aggrieved by the order of Ld. CIT(A) assessee has preferred the present appeal before me on the grounds mentioned hereinabove. DSK Madhuban (Wing A&B) Co-Op Housing Society, Mumbai a) On the facts and circumstances

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

d) was denied. 5. Aggrieved by the said additions, assessee preferred appeal, but the same was dismissed by Ld.CIT(A). 6. Aggrieved by the order of Ld. CIT(A) assessee has preferred the present appeal before me on the grounds mentioned hereinabove. DSK Madhuban (Wing A&B) Co-Op Housing Society, Mumbai a) On the facts and circumstances

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

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

USHA JANAKALYAN NAGAR CHS LTD ,MUMBAI vs. THE INCOME TAX OFFICER-30(1)(1), MUMBAI

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

Bench: Shir Pavan Kumar Gadale & Shri Girish Agrawalusha Janakalyan Nagar Vs. Ito-30(1)(1), Chs Ltd, Kautilya Bhavan, 211, Bkc, Bandra (E), Kharodi,Marveroad, Mumbai-400051. Malad (W), Mumbai-400095. Pan/Gir No. : Aaaau1039J Appellant .. Respondent Appellant By : Shri. Kunal Lunawat.Ar Respondent By : Ms. Rajeswari Menon, Sr.Dr Date Of Hearing 15.05.2024 Date Of Pronouncement 16.05.2024 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 154 & U/Sec 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

house property maintenance and income from other sources .The assessee has filed the return of income for the A.Y 2014-15 on 11-09-2014 disclosing a total income of Rs.Nil after claiming deduction u/s 80(P)(2)(d) of the act of Rs.4,63,609/- subsequently the return of income was processed u/s 143(1) of the Act. Whereas

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

THE NAVYUG CO-OPERATIVE HOUSING SOCIETY LTD.,MUMBAI vs. DCIT 32(1), MUMBAI

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

Bench: Shir Pavan Kumar Gadale & Ms Padmavathy Sthe Navyug Co-Operative Vs. Dcit-32(1), Housing Society Ltd., Room.No.702, 7Th Flr, Jaihind Club Bldg, Jvpd Kautilya Bhavan, Scheme, 2Nd Floor, Bandra Kurla N.S. Road,Vile Parle (W), Complex, Mumbai-400049. Bandra(E), Mumbai-400051. Pan/Gir No. : Aaaat0325L Appellant .. Respondent Appellant By : Shri Shalin.S. Divatia.Ar Respondent By : Shri Laxmi Kant.Sr. Dr Date Of Hearing 09.05.2024 Date Of Pronouncement 10.05.2024 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 154 & U/Sec 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal: The Navyug Co-Op Housing Society Ltd., Mumbai. 1. The Learned Commissioner Of Income Tax (Appeals) Erred In Confirming The Order Of The Assessing Officer Rejecting The Application Of The Assessee U/S 154 Seeking Rectification Of The Disallowance The Deduction U/S 80P(2) & 80P(2)(D) Of The Act Of Rs.60,93,180/- U/S 143 (1) Of The Act.

property maintenance and income from other sources.The assessee has filed the return of income for the A.Y 2015-16 on 21-09-2015 disclosing a total income of The Navyug Co-op Housing Society Ltd., Mumbai. Rs.Nil after claiming deduction u/s 80(P)(2)(d) of the act of Rs.60,59,259/- subsequently the return of income was processed

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

BHOOMI CLASSIC CO-OP HSG.SOC.LTD.,,MUMBAI vs. ITO WARD-30(1)(2), MUMBAI

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

Bench: Shri Pavan Kumar Gadalebhoomi Classic Co-Op Ito, Ward 30(1)(2) Hsg. Soc. Ltd., Room No. 436, 4Th बनाम/ Cts No. 1406, Link Floor, Kautilya Vs. Road, Opp Sabkuch Bhavan, C-41 To C- Market, Malad (West) 43, G Block, Bkc, Mumbai- 400064. Bandra (E) Mumbai – 400051. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaab4452G (""थ" / Respondent) (अपीलाथ" /Appellant)

house property of Rs.13,86,000/- and the society also has received the interest on deposits from various cooperative banks aggregating to Rs.13,63,498/- and claimed deduction u/s 80P(2)(d) of the Act. Whereas the AO has called for the various details and dealt on the facts with respect to the fixed deposits with the banks at Para

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

BELIRAM INDUSTRIAL ESTATE PREMISES CO-OP SOCIETY LTD,MUMBAI vs. ASST. DIRECTOR OF INCOME TAX, CPC , BANGALURU

In the result the appeal filed by the appeal is allowed

Bench: Shir Pavan Kumar Gadalebeliram Industrialestate Vs. Adit,Cpc, Premises Co- Soc Ltd., Bengaluru-560500 Sv Road, Dahisar, Mumbai-400068. Pan/Gir No. : Aaaab6799E Appellant .. Respondent Appellant By : Mr.Prakash Shah.Ar 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:

section 80P(2)(d) of the Act by the Appellant in the return of income filed for previous year relevant to Assessment Year 2020-21, in respect of interest income on deposits made with co-operative banks 2. The brief facts of the case are that the assessee is a Cooperative Society registered under Maharashtra Co-operative Societies

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

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)(d

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