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 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

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

capital gain on mutual funds etc. While doing so, he held that the decision in the case of Totagar's Cooperative Sale Society Ltd. (Supra) is not applicable to the facts of the present case since in that case the amount invested in short term deposits and securities was not out of interest bearing deposits collected from members

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

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

2)(d). Hence, allowing of the deduction by the Assessing Officer under section 80P for the above amount is not as per the provisions of the Income Tax Act, 1961. In Para 10 of the Hon’ble Karnataka High Court decision in the case of Tumkur Merchants Souharda Credit Co-op Society

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

2)(d). Hence, allowing of the deduction by the Assessing Officer under section 80P for the above amount is not as per the provisions of the Income Tax Act, 1961. In Para 10 of the Hon’ble Karnataka High Court decision in the case of Tumkur Merchants Souharda Credit Co-op Society

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

2)(d). Hence, allowing of the deduction by the Assessing Officer under section 80P for the above amount is not as per the provisions of the Income Tax Act, 1961. In Para 10 of the Hon'ble Karnataka High Court decision in the case of Tumkur Merchants Souharda Credit Co-op Society

SWAMI VIVEKANAND STATE CO.OPERATIVE 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 Swami Vivekanand Multi State Vs. Pr.Cit-4, Pune Co-Operative Credit Society Ltd. 658/659, Near Janta Bank, Main Road, Akkalkot, Dist. Solapur - 413216 Pan : Aaias3245A Appellant Respondent

2)(d). The Assessing Officer has not caused any verification of this issue. 8. The submissions made by the assessee Society are examined in detail. a. The Assessment record has been verified in detail and the submissions stated to have seen made regarding the Deposits made with different banks are seen to have been given without details as to when

LEKHAKOSH KARMACHARI SAHAKARI PATPEDHI SANSTHA MARYADIT,PUNE vs. PR. CIT, PUNE-4, PUNE

In the result, the appeal of the assessee is allowed

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

2)(d). Hence, allowing of the deduction by the Assessing Officer under section 80P for the above amount is not as per the provisions of the Income Tax Act, 1961. In Para 10 of the Hon'ble Karnataka High Court decision in the case of Tumkur Merchants Souharda Credit Co-op Society

DIVYADATTA DIGAMBER NAGARI SAHAKARI PATSANSTHA LIMITED SATARA,KOREGAON vs. INCOME TAX OFFICER, SATARA

The appeal of the assessee is ALLOWED in above terms

Bench: Hon’Ble Shri G. D. Padmahshali & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No. 651/Pun/2024 निर्धारण वषा / Assessment Year : 2013-14 Divyadatta Digamber Nagari Sahakari Patsanstha Moti Heights, Azaad Chowk, New St-Stand, Koregaon, Satara-415501 Pan: Aaeas1871L . . . . . . . अपीलार्थी / Appellant

C-Deduction in respect of certain income’ u/c VI-A of the Act to the present assessee is that claim to be made/raised in return of income and not otherwise but such return may it be original, or belated or revised return. 7.2 In the instant case, we observed from the records that, while computing the taxable income the appellant

SUGAR CANE PRODUCERS VIVIDH KARYAKARI SAH. SOCIETY LTD,,SOLAPUR vs. INCOME-TAX OFFICER, WARD - 1(4),, PANDHARPUR

In the result, the appeal of the revenue stands dismissed

Bench: Shri Anil Chaturvedi, Am

capital gain on mutual funds etc. While doing so, he held that the decision in the case of Totagar’s Cooperative Sale Society Ltd. (Supra) is not applicable to the facts of the present case since in that case the amount invested in short term deposits and securities was not out of interest bearing deposits collected from members

SUGAR CANE PRODUCERS VIVIDH KARYAKARI SAH. SOCIETY LTD,,SOLAPUR vs. INCOME-TAX OFFICER, WARD - 1(4),, PANDHARPUR

In the result, the appeal of the revenue stands dismissed

Bench: Shri Anil Chaturvedi, Am

capital gain on mutual funds etc. While doing so, he held that the decision in the case of Totagar’s Cooperative Sale Society Ltd. (Supra) is not applicable to the facts of the present case since in that case the amount invested in short term deposits and securities was not out of interest bearing deposits collected from members

CHANDRAPRABHU GRAMIN BIGAR SHETI SAHAKARI PAT SANSTHA MARYADIT,,SOLAPUR vs. INCOME-TAX OFFICER, WARD - 1(4),, PANDHARPUR

In the result, the appeal of the revenue stands dismissed

Bench: Shri Anil Chaturvedi, Am

capital gain on mutual funds etc. While doing so, he held that the decision in the case of Totagar’s Cooperative Sale Society Ltd. (Supra) is not applicable to the facts of the present case since in that case the amount invested in short term deposits and securities was not out of interest bearing deposits collected from members

CHANDRAPRABHU GRAMIN BIGAR SHETI SAHAKARI PAT SANTHA MARYADIT,,SOLAPUR vs. INCOME-TAX OFFICER, WARD - 1(4),, PANDHARPUR

In the result, the appeal of the revenue stands dismissed

Bench: Shri Anil Chaturvedi, Am

capital gain on mutual funds etc. While doing so, he held that the decision in the case of Totagar’s Cooperative Sale Society Ltd. (Supra) is not applicable to the facts of the present case since in that case the amount invested in short term deposits and securities was not out of interest bearing deposits collected from members

INCOME-TAX OFFICER, WARD - 5(1),, PUNE vs. MAHARASHTRA STATE CO-OPERATIVE CREDIT SOCIETIES DEPOSIT GURANTEE CORP. LTD,, PUNE

In the result, quantum assessment appeals for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपीऱ सं. / Ita No.709/Pun/2017 निर्धारण वषा / Assessment Year : 2008-09 Ito, Ward 5(1), Vs. Maharashtra State Co-Operative Pune Credit Societies Deposit Guarantee Corp. Ltd., Suraksha Bhawan, Plot No.9, Gultekdi, Pune – 411037 Pan: Aabtm4090M Appellant Respondent आयकर अपीऱ सं. / Ita Nos.1492 & 1493/Pun/2018 निर्धारण वषा / Assessment Years : 2007-08 & 2008-09 Ito, Ward 5(1), Vs. Maharashtra State Co-Operative Pune Credit Societies Deposit Guarantee Corp. Ltd., Suraksha Bhawan, Plot No.9, Gultekdi, Pune – 411037 Pan: Aabtm4090M Corrigendum Per R.S.Syal, Vp : This Corrigendum Is Being Issued To Correct The Typographical Mistake In The Date Of Pronouncement Mentioned In First Page Of Order. The Same May Be Read As “13.08.2021” Instead Of “13.05.2021”. (S.S. Viswanethra Ravi) (R.S.Syal)पुणे Pune; दििधंक Dated : 18Th August, 2021 Gcvsr

2)(a)(i). 6 Corrigendum in ITA No.709/PUN/2017 ITA Nos.1492 & 1493/PUN/2018 He held the gain on sale of mutual funds, etc. as falling under the head „Capital gains‟ as against the AO's determination of the same as „Business income‟. Thereafter, he directed the AO to allow set off in terms of section 74. The third direction

INCOME-TAX OFFICER, WARD - 5(1),, PUNE vs. MAHARASHTRA STATE CO-OPERATIVE CREDIT SOCIETIES DEPOSIT GURANTEE CORP. LTD,, PUNE

In the result, quantum assessment appeals for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपीऱ सं. / Ita No.709/Pun/2017 निर्धारण वषा / Assessment Year : 2008-09 Ito, Ward 5(1), Vs. Maharashtra State Co-Operative Pune Credit Societies Deposit Guarantee Corp. Ltd., Suraksha Bhawan, Plot No.9, Gultekdi, Pune – 411037 Pan: Aabtm4090M Appellant Respondent आयकर अपीऱ सं. / Ita Nos.1492 & 1493/Pun/2018 निर्धारण वषा / Assessment Years : 2007-08 & 2008-09 Ito, Ward 5(1), Vs. Maharashtra State Co-Operative Pune Credit Societies Deposit Guarantee Corp. Ltd., Suraksha Bhawan, Plot No.9, Gultekdi, Pune – 411037 Pan: Aabtm4090M Corrigendum Per R.S.Syal, Vp : This Corrigendum Is Being Issued To Correct The Typographical Mistake In The Date Of Pronouncement Mentioned In First Page Of Order. The Same May Be Read As “13.08.2021” Instead Of “13.05.2021”. (S.S. Viswanethra Ravi) (R.S.Syal)पुणे Pune; दििधंक Dated : 18Th August, 2021 Gcvsr

2)(a)(i). 6 Corrigendum in ITA No.709/PUN/2017 ITA Nos.1492 & 1493/PUN/2018 He held the gain on sale of mutual funds, etc. as falling under the head „Capital gains‟ as against the AO's determination of the same as „Business income‟. Thereafter, he directed the AO to allow set off in terms of section 74. The third direction

INCOME TAX OFFICER,, PUNE vs. MAHARASHTRA STATE CO-OPERATIVE CREDIT SOCIETIES DEPOSITE GURANTEE CORP.LTD,, PUNE

In the result, quantum assessment appeals for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपीऱ सं. / Ita No.709/Pun/2017 निर्धारण वषा / Assessment Year : 2008-09 Ito, Ward 5(1), Vs. Maharashtra State Co-Operative Pune Credit Societies Deposit Guarantee Corp. Ltd., Suraksha Bhawan, Plot No.9, Gultekdi, Pune – 411037 Pan: Aabtm4090M Appellant Respondent आयकर अपीऱ सं. / Ita Nos.1492 & 1493/Pun/2018 निर्धारण वषा / Assessment Years : 2007-08 & 2008-09 Ito, Ward 5(1), Vs. Maharashtra State Co-Operative Pune Credit Societies Deposit Guarantee Corp. Ltd., Suraksha Bhawan, Plot No.9, Gultekdi, Pune – 411037 Pan: Aabtm4090M Corrigendum Per R.S.Syal, Vp : This Corrigendum Is Being Issued To Correct The Typographical Mistake In The Date Of Pronouncement Mentioned In First Page Of Order. The Same May Be Read As “13.08.2021” Instead Of “13.05.2021”. (S.S. Viswanethra Ravi) (R.S.Syal)पुणे Pune; दििधंक Dated : 18Th August, 2021 Gcvsr

2)(a)(i). 6 Corrigendum in ITA No.709/PUN/2017 ITA Nos.1492 & 1493/PUN/2018 He held the gain on sale of mutual funds, etc. as falling under the head „Capital gains‟ as against the AO's determination of the same as „Business income‟. Thereafter, he directed the AO to allow set off in terms of section 74. The third direction