AHMEDNAGAR ZILLA GRAMSEVAKANCHI SAHAKAR PATSANSTHA MARYADIT,AHILYANAGAR vs. PCIT, PUNE-1, PUNE

In the result, the appeal of the assessee is allowed

gains attributable to such activities as does not exceed,\n(i) ......\n(ii) in any other case, fifty thousand rupees\nshall be deducted, while computing the total income of the assessee.\nAs per above section, the asessee is eligible for Deduction of Rs 50,000/- from gross total Income,\nsimilarly claimed as deduction U/S 80P(2)(c) from the total

INCOME-TAX OFFICER vs. KESHAVSMURTI NAGARI SAHAKARI PATPEDHI LTD.,, RAIGAD

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.936/Pun/2015 यििाारण वषा / Assessment Year : 2010-11 The Income Tax Officer, अऩीऱाथी/Appellant Ward 5, Panvel …. Vs. Keshavsmurti Nagari Sahakari Patpedhi Ltd., Shop No.1G/F, Anpurna Niwas, Shivaji Road, Tal – Panvel, …. प्रत्यथी / Respondent Dist – Raigad – 410206 Pan: Aaaak7390L प्रत्याक्षेप सं./Co No.30/Pun/2017 यििाारण वषा / Assessment Year : 2010-11 (Out Of Ita No.936/Pun/2015) Keshavsmurti Nagari Sahakari Patpedhi Ltd., Shop No.1G/F, Anpurna Niwas, Shivaji Road, Tal – Panvel, … प्रत्याक्षेऩक/ Cross Objector Dist – Raigad – 410206 Pan: Aaaak7390L Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 5, Panvel

gains which was not immediately required by the assessee for lending money to the members as there were no takers and hence, was deposited in the banks so as to earn interest, such interest income earned by the assessee was held to be attributable to carrying on the business and therefore, same was liable to be deducted in terms

MAHATMA GANDHI NAGRI SAHAKARI PAT SANSTHA MYDT UDGIR,LATUR vs. INCOME TAX OFFICER- WARD 1 -LATUR, LATUR

In the result, the appeal of the assessee is allowed

gains of business attributable to any one or more of such\nactivities; (b) ..\n(c) .....\n(d) in respect of any income by way of interest or dividends derived by\nthe cooperative society from its investments with any other co-\noperative society, the whole of such incoте;\n(viii) At this juncture, attention is again invited to the relevant parts

INCOME TAX OFFICER, WARD-1(1), NASHIK, NASHIK vs. MICO EMPLOYEES CREDIT COOP SOCIETY LTD., NASHIK

In the result, the appeal of the Revenue is dismissed

Bench: Shri R.K. Panda & Ms. Astha Chandra

gains of business attributable to the activity of carrying on the business of banking or providing credit facilities to its members by a cooperative society and is liable to be deducted from the gross total income under Section 80P of the Act. 4. Sec. 80P of the Act grants deduction in respect of various categories of income of a cooperative

THE SANGLI SALARY EARNERS CO OP SOCIETY LTD,SANGLI vs. INCOME TAX OFFICER WARD 3 SANGLI, SANGLI

In the result, appeal of the assessee is allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.2254/Pun/2025 निर्धारण वषा / Assessment Year: 2020-21 The Sangli Salary Earners Co V The Income Tax Officer, Op Society Ltd., S. Ward-3, Sangli. 1104 B, Harbhat Road, Main City, Sangli – 416416 Pan: Aaaat0980D Appellant/ Assessee Respondent / Revenue Assessee By Shri Amit Sudhir Shintre(Virtual) Revenue By Smt. Saumya Pandey Jain-Addl.Cit Date Of Hearing 17/11/2025 Date Of Pronouncement 17/11/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Is Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2020-21, Dated 27.08.2025 Emanating From Assessment Order U/S.143(3) Read With Section 143(3) R.W.S 144B Of The Income Tax Act, 1961 Dated 26.09.2022. The Assessee Has Raised Following Grounds Of Appeal : “1. Deduction U/S 80P(2)(A)(I) Relying On The Decision Of Totgars Co-

gains of business" attributable to the activity of banking/credit facilities and deductible u/s 80P(2)(a)(i). Considering the same entire addition of Interest income of Rs.3,71,88,591/- should be allowed as a deduction under section 80P(2)(a)(i) of the Act 2. Deduction u/s 80P(2)(d) and Inapplicability of Section 80P(4) Without prejudice

INCOME-TAX OFFICER, WARD – 3, SATARA vs. M/S. SHRI BHAIRAVNATH MULTISTATE COOPERATIVE CREDIT SOCIETY LIMITED, SATARA

In the result, the appeal of the Revenue stands dismissed

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

section 80P (2) (d).The observation of the Tribunal is reproduced as under- “We have heard the rival submissions and perused the records. The scope of s. 8oP(2)(d) of the Act is to allow a deduction in the computation of total income of a Co-operative Society in respect of incomes earned by the society as enumerated

INCOME-TAX OFFICER, WARD - 6(3),, PUNE vs. MAHARASHTRA BANK EMPLOYEES CO-OP CREDIT SOCIETY LTD,, PUNE

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

gains which was not immediately required by the assessee for lending money to the members as there were no takers and hence, was deposited in the banks so as to earn interest, such interest income earned by the assessee was held to be attributable to carrying on the business and therefore, same was liable to be deducted in terms

VAIBHAV NAGARI SAHAKARI PAT SANSTHA MARYADIT, NEAR SAWANT NIWAS, OPP. PANCHVATI THEATER,ICHALKARANJI,ICHALKARANJI vs. ASSESSING OFFICER, WARD NO. 1, VRINDAVAN COLONY, ASARA NAGAR, SANGLI ROAD, ICHALKARANJI, ICHALKARANJI

In the result, appeal of the assessee is allowed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.1210/Pun/2025 िनधा"रण वष" / Assessment Year: 2020-21 Vaibhav Nagari Sah Pat V The Assessing Officer, Sanstha Maryadit, S Ward No.1, Ichalkaranji. 10/1280, Sawant Niwas, Opp.Panchvati Theter, Sangli Road, Ichalkaranji – 416115. Maharashtra. Pan: Aaaav0226E Appellant/ Assessee Respondent / Revenue Assessee By None Revenue By Shri Dayanand Jawalikar – Jcit(Dr) Date Of Hearing 12/06/2025 Date Of Pronouncement 18/06/2025

capital and operational funds in the normal course of business as a measure of commercial prudence, and the interest income thereon is directly attributable to the business activity of providing credit facilities to members. The lower authorities also ignored the principle of mutuality, which governs cooperative societies, and incorrectly assessed the income under the head "Income from Other Sources" instead

SHREE TULJABHAVANI NAGARI SAHAKARI PAT SANSTHA MARYADIT,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX -5 , PUNE, PUNE

In the result, appeal of the Assessee is allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.254/Pun/2020 िनधा"रणवष" /Assessment Year: 2014-15 Shree Tuljabhavani Nagari The Principal Commissioner Sahakari Pat Sanstha Maryadit, Vs Of Income Tax - 5, Pune. 17/04, 103, Shri Tuljibhavani Plaza Mangalnagar, Wakad Road, Thergaon, Pune. Pan: Aadas 9902 P Appellant/ Assessee Respondent/ Revenue Assessee By None. Revenue By Shri Arvind Desai – Dr Date Of Hearing 16/06/2022 Date Of Pronouncement 28/07/2022 आदेश/ Order Per Dr.Dipak P.Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Pr.Commissioner Of Income-Tax-5, Pune’S, Order Dated 08.01.2019For The Assessment Year 2014-15, Involving Proceedings Under Section 263(1) Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal: “1. Pr.Commissioner Of Income Tax Has Erred In Passing The Order Which Is Without Jurisdiction & Bad In Law. Same May Please Be Cancelled. 2. Pr.Cit Has Erred In Alleging That Order U/S 143(3) Passed By Assessing Officer Is Erroneous In So Far As It Is Prejudicial To The Interest Of Revenue. Appellant Prays To Cancel The Same.

capital gains of Respondent but the fact is AO had raised queries and Respondent has given detailed reply means the AO has passed this order after making necessary inquiries. We agree with the view of the ITAT that the order of the AO cannot be branded as erroneous merely because the order does not contain the details which Principal Commissioner

YASHWANT NAGARI SAHAKARI PATSANSTHA MARYADIT,PUNE vs. ITO WARD 10(1) PUNE, PUNE

In the result, appeal of the assessee is allowed

Bench: AND SHRI VINAY BHAMORE (Judicial Member)

Capital and Reserve of the assessee and based on the activities of the Assessee. No where neither the AO nor the CIT(A) has stated that the Assessee has received Banking License from RBI under the Banking Regulation Act. 5.3 The Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank

MAHATMA GANDHI NAGRI SAHAKARI PAT SANSTHA MYDT UDGIR,LATUR vs. INCOME TAX OFFICER- WARD 1 -LATUR, LATUR

Bench: Shri R.K. Panda & Ms. Astha Chandra

gains of business attributable to any one or more of such activities; (b) ……. (c) . …. AYs 2018-19 & 2020-21 (d) in respect of any income by way of interest or dividends derived by the cooperative society from its investments with any other co- operative society, the whole of such income; (viii) At this juncture, attention is again invited

VITA URBAN CREDIT CO-OP. SOCIETY LTD.,,SANGLI vs. INCOME-TAX OFFICER,,

In the result, appeal of assessee is allowed

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita No.2390/Pun/2016 यििाारण वषा / Assessment Year : 2012-13

section 80P(2)(a)(i) of the Act on account of bank interest earned by the assessee. The said issue is not disputed before the Tribunal. The second issue which was adjudicated by the Assessing Officer was regarding taxation of income earned under the head ‘capital gains

SHRI SHARAD GRAMIN BIGAR SHETI SAHAKARI PATASANSTHA LTD.,,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME-TAX -4,, PUNE

Appeal is allowed in above terms

Bench: Shri S.S. Godara & Shri G.D. Padmahshaliनिर्धारण वषा / Assessment Year : 2017-18 Shri Sharad Gramin Bigar Sheti Vs. Pr.Cit-4, Pune Sahakari Pathasanstha Ltd., Sharad Sankul, Malegaon (Bk), Tal. Baramati, Dist. Pune – 413102 Pan : Aabas6680G Appellant Respondent

capital & reserve fund Loans/Advances given to members by the 51,27,45,240 society Excess of Loans/Advances/Deposits from 11,76,15,494 It implies that the deposits accepted from the members were not used by the society in its business of providing credit facilities to its members. Instead they are put in to deposits to earn interest. Investments made

DR JAGADALE MAMA HOSPITAL EMPLOYEES CO-OP CREDIT SOCIETY LTD.,,SOLAPUR vs. PRINCIPAL COMMISSIONER OF INCOME-TAX - 4, PUNE

Appeal is allowed in above terms

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2017-18 Dr Jagadale Mama Hospital Vs. Pr.Cit-4, Pune Employees Coop Credit Society Ltd., Dhanaji Arjun Pawar Dr Jagadale Mama Hospital Employees Society, Shivaji Nagar Barshi Taluka Barshi, Solapur - 413401 Pan : Aaaad3228Q Appellant Respondent

capital from members, reserve fund & interest payable Loans/Advances given to members by the 1.94 Cr society Excess of Loan/Advances/Deposits from 1.54 Cr members available with the society It implies that the deposits accepted from the members were not used by the society in its business of providing credit facilities to its members. Instead they are put in to deposits

UMASA CHAVAN NAGARI SAHAKARI PATSANSTHA,SOLAPUR vs. PRINCIPAL COMMISSIONER OF INCOME-TAX: 4, PUNE

Appeal is allowed in above terms

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2017-18 Umasa Chavan Nagari Sahakari Vs. Pr.Cit-4, Pune Patsanstha 267 46 Raviwar Peth, Solapur – 413005 Pan : Aaabu0049D Appellant Respondent

capital from members, reserve fund & interest payable Loans/Advances given to members by the 77.76 Cr society Excess of Loan/Advances/Deposits from 38.76 Copyright members available with the society It implies that the deposits accepted from the members were not used by the society in its business of providing credit facilities to its members. Instead they are put in to deposits

SHARADCHANDRA NAGARI SAHAKARI PATSANSTHA MARYADIT,PUNE vs. ITO WARD 10(1), PUNE

In the result, appeal of the assessee is allowed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.1068/Pun/2025 िनधा"रण वष" / Assessment Year: 2011-12 Sharadchandra Nagari Sahakari V The Income Tax Officer, Patsanstha Maryadit, S Ward-10(1), Pune. At Post–Rajuri, Taluka–Junnar, Dist. Pune – 412411. Maharashtra. Pan: Aaabs1016L Appellant/ Assessee Respondent / Revenue Assessee By Shri Abhay Avachat – Ar Revenue By Shri Dayanand Jawalikar – Jcit(Dr) Date Of Hearing 12/06/2025 Date Of Pronouncement 18/06/2025

capital and reserve of the Assessee are not less than One Lakh Rupees. According to Assessing Officer, Assessee’s primary object was profiteering. 3.2 However, the Hon’ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd., vs. CIT 431 ITR 1 (SC) has observed that the entity which has got banking license issued by Reserve Bank

INCOME TAX OFFICER WARD 2(1) KOLHAPUR, KOLHAPUR vs. KOLHAPUR ZILHA MADHYAMIK SHIKSHAN SEVKANCHI SAHAKARI PAT SANSTHA , KOLHAPUR

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

section 80P(2)(a)(i). Reliance is placed on the decision of the Hon. Karnataka High Court in Tumkur Merchants Souharda Credit Co Operative Ltd vs ITO [2015] 55 taxmann.com 447 (Karnataka). The observations of the Hon Court are reproduced below : “A co-operative society which is carrying on the business of providing credit facilities to its members, earns profits

INCOME TAX OFFICER WARD 2(1), KOLHAPUR, KOLHAPUR vs. KOLHAPUR ZILHA MADHYAMIK SHIKSHAN SEVKANCHI SAHAKARI PAT SANSTHA, KOLHAPUR

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

section 80P(2)(a)(i). Reliance is placed on the decision of the Hon. Karnataka High Court in Tumkur Merchants Souharda Credit Co Operative Ltd vs ITO [2015] 55 taxmann.com 447 (Karnataka). The observations of the Hon Court are reproduced below : “A co-operative society which is carrying on the business of providing credit facilities to its members, earns profits

DHANASHREE MULTISTATE CREDIT CO-OPERATIVE SOCIETY LTD,,SOLAPUR vs. INCOME-TAX OFFICER, WARD - 1,, PNADHARPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

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