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

Disallowance of deduction claimed u/s 80P(2)(d) of the Act 6.1 During the course of appeal proceedings, the appellant furnished copy of the order of the earlier CIT(A) on identical issue, dated 05.06.2023 for the AY 2017-18 in appellant's own case, allowing the claim made u/s 80P(2)(d) of the IT Act by holding that

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

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

ACIT, CIRCLE-4, NAGPUR, NAGPUR vs. THE VIDARBHA CO OPERATIVE MARKETING FEDERATION LTD , NAGPUR

In the result, appeal of the Revenue stands dismissed

Bench: Shri Narender Kumar Choudhry& Shri K.M. Roy

disallowance of deduction under section 80P(2)(d) of the Act in respect of interest income received from the Co-operative Banks. The assessee is a registered Co-operative Housing Society and during the assessment year 2018-19 earned interest income of Rs. 50,39,861 from the investments made in various Co-operative Banks. 9. Before proceeding further

JAI KONDESHWAR NAGARI SAHAKARI BADNERAPAT SANSTHA MARYADIT ,AMRAVATI vs. INCOME TAX OFFICER, WARD 3, AMRAVATI, AMRAVATI

In the result, appeal of the Assessee is allowed in the aforesaid terms

Bench: Shri Narender Kumar Choudhry

disallowance of deduction under section 80P(2)(d) of the Act in respect of interest income received from the Co-operative Banks. The assessee is a registered Co-operative Housing Society and during the assessment year 2018-19 earned interest income of Rs. 50,39,861 from the investments made in various Co-operative Banks. 9. Before proceeding further

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

BHATADI OPENCAST KARMACHARI SAHAKARI PATSANSTHA MARYADIT ,BHATADI,CHANDRAPUR vs. ITO WARD-1, CHANDRAPUR

In the result, appeal of the assessee is allowed

Bench: Shri Narender Kumar Choudhry

disallowance of deduction under section 80P(2)(d) of the Act in respect of interest income received from the Co-operative Banks. The assessee is a 3 ITA.No. 89/NAG/2025 registered Co-operative Housing Society and during the assessment year 2018-19 earned interest income of Rs. 50,39,861 from the investments made in various Co-operative Banks. 9. Before

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

In the result, appeal filed by the Revenue for the assessment year

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

80P(2)(a)(i) of the Act. 9. The AO in his assessment order further contended that although the main business of the appellant is to provide credit facilities to its members, the appellant had diverted the funds of the society and accordingly the income may have been earned is also diverted from the main activity of credit facility

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

b) Whether provisions of section 80P(2)(a)(i) are not applicable to the co- operative society providing banking or credit facilities to its member and accordingly deduction U/s 80P is not allowable deduction under the Act? 6. The CIT(A) (NFAC) erred in law for disallowing

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

In the result, appeal by the assessee for A

2) was issued vide notice dated 31-01-2023. On\nverification of information filed by the assessee, it is noticed that a claim for\ndeduction u/s 80P was made by the assessee of Rs. 53,72,108/- in the return.\na) The claim made by the assessee is not allowable u/s 80AC. Section 80 AC\n(ii) specifies that \"Deduction

LATE INDIRA GANDHI NAGRI SAHAKARI PAT PURWATHA SANSTHA MARYADIT,AKOLA vs. ITO, WARD-2, AKOLA

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

disallowing the deduction of 4452374/- claimed u/s. 80P(2)(a)(i) and also u/s 80(2)(d) of the Act under the facts and in the circumstances of the appellant's case. The appellant request you to allow the deduction of Rs. 4452374/- claimed u/s 80P(2)(a)(i). 6. Without prejudice to the above, the authorities below have also

M/S VINAYAK NAGARI SAHAKARI PAT. SANSTHA,BHANDARA vs. INCOME TAX OFFICER WARD-2, BHANDRA

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

b) Whether provisions of section 80P(2)(a)(i) are not applicable to the co- operative society providing banking or credit facilities to its member and accordingly deduction U/s 80P is not allowable deduction under the Act? 8. The learned Commissioner of Income Tax (Appeals) (NFAC) erred in law for not justified in proceedings for disallowance

BHARTI MAIND NAGRI SAHAKARI PAT SANSTHA,YAVATMAL vs. INCOME TAX OFFICE , NATIONAL E ASSESSMENT, NEW DELHI

In the result, appeal filed by the assessee for the assessment year

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

disallowances is eligible for deduction u/s 80P(2)(a)(i) of the Income Tax act'1961. 5) Interest u/s 234A, 234 B and 234 C of the Income Tax act '1961 being consequential in nature needs to be deleted. 6) Assessee craves leave to add, alter or amend any of the grounds of appeal.” 3. Facts in Brief:– The assessee

BHARTI MAIND NAGRI SAHAKARI PAT SANSTHA,YAVATMAL vs. INCOME TAX OFFICER, NATIONAL E ASSESSMENT , YAVATMAL

In the result, appeal filed by the assessee for the assessment year

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

disallowances is eligible for deduction u/s 80P(2)(a)(i) of the Income Tax act'1961. 5) Interest u/s 234A, 234 B and 234 C of the Income Tax act '1961 being consequential in nature needs to be deleted. 6) Assessee craves leave to add, alter or amend any of the grounds of appeal.” 3. Facts in Brief:– The assessee

AMRAVATI JILHA VIMA KARMACHARI SAHAKARI PATSANSTHA MARYADIT,AMRAVATI vs. INCOME TAX OFFICER WARD-3, AMRAVATI

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

disallowed and accordingly, the interest income of ` 12,25,500, earned by the assessee-society from co-operative bank and other banks was proposed to be assessed as "income from other sources" under section 56 of the Act. The assessee being not satisfied with the order passed by the Assessing Officer, filed appeal before the first appellate authority