DURGAPUR RAYATWARI COLLIERY KAMGAR SAHAKARI PAT SANSTHA,CHANDRAPUR vs. ITO WARD-2, CHANDRAPUR

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

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

5. The assessee–society revised its claim of deduction under section 80P, during scrutiny proceeding, in following manner:– Sr. Deduction claimed u/s Amount no. i) Under section 80P(2)(a)(i) ` 34,14,217 ii) Under section 80P(2)(c)(i) NIL iii) Under section 80P(2)(d) ` 91,47,236 6. The Assessing Officer, on a perusal

DURGAPUR RAYATWARI COLLIERY KAMGAR SAHAKARI PAT SANSTHA,CHANDRAPUR vs. ITO WARD 2, CHANDRAPUR

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

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

5. The assessee–society revised its claim of deduction under section 80P, during scrutiny proceeding, in following manner:– Sr. Deduction claimed u/s Amount no. i) Under section 80P(2)(a)(i) ` 34,14,217 ii) Under section 80P(2)(c)(i) NIL iii) Under section 80P(2)(d) ` 91,47,236 6. The Assessing Officer, on a perusal

TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal is allowed for statistical purposes

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

b)Appeal Fees of Rs.10,000/- was also paid by Assessee on 10/04/2023 which is before 60 days from the due date of filing Appeal which was 16/04/2023. c)But due to some technical reason the Appeal submitted online is not reflecting on the e-filing portal of Income Tax Appellate Tribunal. As during April 2023 period e-filing Portal

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal for the A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

b) Any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of the employees. Therefore, combine reading of section 36(1)(va) and 43B culls out that no disallowance should be made if appellant has contributed to fund before filing

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

B (10) of the Act would be hit by Sub Section (5) of Section 80A of the act. …………….. …………….. What Sub Section (5) of Section 80A of the Act mandates is that, if the assessee fails to make a claim in his retum of income for any deduction under the provisions specified therein, the same would not be granted

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

B (10) of the Act would be hit by Sub Section (5) of Section 80A of the act. …………….. …………….. What Sub Section (5) of Section 80A of the Act mandates is that, if the assessee fails to make a claim in his retum of income for any deduction under the provisions specified therein, the same would not be granted

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

B (10) of the Act would be hit by Sub Section (5) of Section 80A of the act. …………….. …………….. What Sub Section (5) of Section 80A of the Act mandates is that, if the assessee fails to make a claim in his retum of income for any deduction under the provisions specified therein, the same would not be granted

SHRI SAIBABA BAHUUDDESHIYA NAGRIK CREDIT CO-OPERATIVE SOCIETY,NAGPUR vs. ITO WARD (3)(4), NAGPUR

The appeal of the Assessee is allowed in the aforesaid\ndirections

disallowance u/s 80P(2)(a)(i) of the Act,\nthis Court observe that the co-ordinate Bench of this Tribunal in\nthe cases titled as The Green City Nagri Sahakari Pat Vs ITO Ward\n2(2), Nagpur {ITA no.124/Nag./2024 decided on 22 October, 2024}\nhas also dealt with identical issue u/s 80P(2

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

b. A sub-section 80P(4) was introduced by Finance Act, 2006 w.e.f. 1-4- 2007 withdrawing deduction u/s 80P in relation to any cooperative bank. The explanatory note to Finance Act with regard to this section is noted below:- "Withdrawl of tax benefits available to certain cooperative banks:- Section 80P, inter alia, provides for a deduction from the total

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

b. A sub-section 80P(4) was introduced by Finance Act, 2006 w.e.f. 1-4- 2007 withdrawing deduction u/s 80P in relation to any cooperative bank. The explanatory note to Finance Act with regard to this section is noted below:- "Withdrawl of tax benefits available to certain cooperative banks:- Section 80P, inter alia, provides for a deduction from the total

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

5,700.41 lakh during the period from 27/10/2009 to 21/03/2013, in the various assets for setting up the manufacturing unit and production of the various products in which the assessee was engaged. The said unit was set up by the assessee in the backward area as notified under the Scheme i.e., at Village Sawanga, Post Shiva, Taluka Nagpur (Brahmin), District

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

5,700.41 lakh during the period from 27/10/2009 to 21/03/2013, in the various assets for setting up the manufacturing unit and production of the various products in which the assessee was engaged. The said unit was set up by the assessee in the backward area as notified under the Scheme i.e., at Village Sawanga, Post Shiva, Taluka Nagpur (Brahmin), District

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

b) of the Income\nTax Act, 1961 was provided to the assessee with prior approval from\ncompetent authority vide dated 23/03/2022 wherein the assessee was given a\nshow cause as to why following income/receipts shall not be treated as income\nchargeable to tax which has escaped the assessment within the meaning of\nprovision of section

ITO WARD-1(1) NAGPUR, NAGPUR vs. ASHWAMI SALES AND MARKETING PVT.LTD, NAGPUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

B and such tax has not been deducted or, after deduction, has not been paid on or before the due date specified in sub- section(i) of Section 139". Section 194C/3): No deduction shall be made under sub-section (1) or sub- section(2) from – (i) the amount of any sum credited or paid or likely to be credited

THE GREEN CITY NAGRI SAHAKARI PAT SANSTHA MARYADIT,NAGPUR vs. ITO WARD 2(2), NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

section 8OP(2)(d) and taxed in the hands of the assessee society instead of income declared under the head of business income originally in the return of income during the regular course of business activity of providing banking or credit facilities to its member as co-operative society and claimed the deduction 80P(2)(a)(i) of the Income

DCIT AKOLA CIRCLE, AKOLA, AKOLA vs. THE AKOLA JANATA COMMERCIAL CO-OPERATIVE BANK LTD., AKOLA

In the result, Revenue’s appeal is dismissed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

5(l)(b) of the Banking Companies Act, 1949. Hence, it is apparent from the above that the appellant being a Co-operative society could not be said to be a cooperative bank so as to deny it the benefit of provision of sections 80P as provided in sections 80P(4), where as a cooperative Bank is to be treated

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

disallowance of exemption should have been made in light of provisions of section 13(1)(c)(ii) read with section 13(3) of the Act. The relevant provisions of section 13 of the Act are reproduced below. Section 13 (1) Nothing contained in section 11 shall operate so as to exclude from the total income of the previous year

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

disallowance of exemption should have been made in light of provisions of section 13(1)(c)(ii) read with section 13(3) of the Act. The relevant provisions of section 13 of the Act are reproduced below. Section 13 (1) Nothing contained in section 11 shall operate so as to exclude from the total income of the previous year

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2 (1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

disallowance of exemption should have been made in light of provisions of section 13(1)(c)(ii) read with section 13(3) of the Act. The relevant provisions of section 13 of the Act are reproduced below. Section 13 (1) Nothing contained in section 11 shall operate so as to exclude from the total income of the previous year