M/S. NASHIK DISTRICT INDUSTRAIL & MERCANTILE CO-OP. BANK LTD.,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, appeal of assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1967/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 M/S. Nashik District Industrial & Mercantile Co-Op. Bank Ltd., 1, Shivkamal Appt., Canada Corner, अऩीऱाथी/Appellant Nashik – 422005 …. Pan: Aaaan1531A Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 1(2), Nashik

section 194A(3)(v) applicable for A.Y.2012 -13, co-operative banks were not liable to deduct TDS u/s 194A in respect of interest paid to its members and hence, there was no reason to make any disallowance

SAMARTH SAHAKARI BANK LTD,SOLAPUR vs. ASST . COMMISSIONER OF INCOME TAX , CIRCLE -2 , SOLAPUR, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

MANDHESHWARI URBAN DEVELOPMENT CO-OP BANK LTD,,SOLAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -1,, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

SOLAPUR JANATA SAHAKARI BANK LTD,,SOLAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

SOLAPUR JANATA SAHAKARI BANK LTD,PUNE vs. ACIT., CIR-2, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

VYAPARI SAHAKARI BANK MARYADIT,SOLAPUR vs. INCOME-TAX OFFICER, WARD 2(4), SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

SOLAPUR SIDDESHWAR SAHAKARI BANK LTD ,SOLAPUR vs. ASST . COMMISSIONER OF INCOME TAX , CIRCLE -1 , SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

SAMARTH SAHAKARI BANK LTD ,SOLAPUR vs. ASST . COMMISSIONER OF INCOME TAX , CIRCLE - 2 , SOLAPUR, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

VYAPARI SAHAKARI BANK MARYADIT,SOLAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -2, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

SOLAPUR SIDDESHWAR SAHAKARI BANK ,SOLAPUR vs. ASST . COMMISSIONER OF INCOME TAX , CIRCLE -2, SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

SOLAPUR JANATA SAHAKARI BANK LTD.,,PUNE vs. INCOME-TAX OFFICER WARD - 2(4), SOLAPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

disallowing the interest paid on deposits received from such non- 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A) who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the order of the ld. CIT(A), the appellant is in appeal before us in the present appeal

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 12 PUNE, PUNE vs. JANATA GRAHAK MADHYAWARTI SAHKARI SANGH MARYADIT, PUNE

In the result, the appeal of the Revenue in ITA No

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

disallowance of deduction claimed u/s 80P(2)(d) of the Act, to the total income of Rs.1,54,81,910/- returned by the assessee u/s 147 r.w.s. 144B of the Act vide his order dated 26.05.2023. 3. Aggrieved, the assessee filed appeal before the Ld. CIT(A). The Ld. CIT(A) in para 5.4 of his appellate order observed that

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-12 PUNE, PUNE vs. JANATA GRAHAK MADHYAWARTI SAHKARI SANGH MARYADIT, PUNE

In the result, the appeal of the Revenue in ITA No

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

disallowance of deduction claimed u/s 80P(2)(d) of the Act, to the total income of Rs.1,54,81,910/- returned by the assessee u/s 147 r.w.s. 144B of the Act vide his order dated 26.05.2023. 3. Aggrieved, the assessee filed appeal before the Ld. CIT(A). The Ld. CIT(A) in para 5.4 of his appellate order observed that

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-12 PUNE, PUNE vs. JANATA GRAHAK MADHYAWARTI SAHKARI SANGH MARYADIT, PUNE

In the result, the appeal of the Revenue in ITA No

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

disallowance of deduction claimed u/s 80P(2)(d) of the Act, to the total income of Rs.1,54,81,910/- returned by the assessee u/s 147 r.w.s. 144B of the Act vide his order dated 26.05.2023. 3. Aggrieved, the assessee filed appeal before the Ld. CIT(A). The Ld. CIT(A) in para 5.4 of his appellate order observed that

DEPUTY COMMISSIONER OF INCOME-TAX vs. BAJAJ FINANCE LTD., (FORMERLY: BAJAJ AUTO FINANCE LTD.,),, PUNE

In the result, appeal of Revenue and Cross Objections of assessee are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.356/Pun/2016 यििाारण वषा / Assessment Year : 2009-10

3 CO No.121/PUN/2017 1. PENALTY PROCEEDINGS UNDER SECTION 271C ARE INVALID AND BAD IN LAW 1.1 The learned Commissioner of Income Tax (Appeals) [„learned CIT(A)] has erred in upholding the validity of penalty proceedings initiated without completion of TDS proceedings under section 201 of the Act. 1.2 In doing so, the learned CIT(A) failed to appreciate that levy

NASHIK DISTRICT PRIMARY TEACHERS CO-OP CREDIT SOCIETY LTD,NASHIK vs. ITO WARD 1(1), NASHIK

In the result, the appeal of the assessee in ITA No

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

194A(3)(v) has been so amended, Section 8OP(2)(d) has not been amended to include co-operative banks explicitly viii) Provisions relating to exemption and deduction need to be strictly construed and no liberal interpretation on intendment can be inferred in such provisions. An interest income not allowed as deduction u/s 80P(2)(a) cannot be allowed

NASHIK DISTRICT PRIMARY TEACHERS CO-OP CREDIT SOCIETY LTD,NASHIK vs. ITO WARD 1(1), NASHIK

In the result, the appeal of the assessee in ITA No

194A(3)(v) has been so amended, Section 8OP(2)(d) has\nnot been amended to include co-operative banks explicitly\nviii) Provisions relating to exemption and deduction need to be strictly\nconstrued and no liberal interpretation on intendment can be inferred in\nsuch provisions. An interest income not allowed as deduction u/s 80P(2)(a)\ncannot be allowed

TOKAI SAHAKARI SAKHAR KARKHANA LTD,HINGOLI vs. INCOME TAX OFFICER, WARD-(1), JALNA, JALNA

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Shri G.D.Padmahshaliआयकर अपील सं. / Ita No.571/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Tokai Sahakari Sakhar Karkhana The Income Tax Officer, Ltd., Vs Ward-1, Jalna. Villag Kurunda, Taluka Basmath . District, Hingoli – 431512. Pan: Aaat6997Q Appellant / Assessee Respondent / Revenue Assessee By Shri Anand Partani – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 16/01/2024 Date Of Pronouncement 16/01/2024

section 194A(3)(V) relating payments to members made by a co-operative society; respectively. We accordingly reject the Revenue’s vehement contention in very terms. The assessee succeeds in its instant 3rd to 5th substantive grounds. 7. Lastly comes the assessee’s sixth substantive ground seeking to delete interest expenses disallowance

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

In the result, the appeal of the assessee is allowed

194A of the Act\nalso makes the legislative intent clear that the Co-operative Banks are not\nthat species of genus co-operative society, which would be entitled to\nexemption or deduction under the special provisions of Chapter VIA in the\nform of Section 80P of the Act.\n7.3 In the light of above legal position, it is amply clear