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

section 80P(2)(d) of the Act and no amount was assessed in the hands of the assessee except the dividend received from UTI Mutual Funds and Sundaram Finance of Rs.87,087/- and Rs.88,519/-. The assessee has placed on record its balance sheet along with Profit & Loss account for the year under consideration at pages

AJINKYA MADHYAMIK SHIKSHAK SEVAK SAH. PATSANSTHA, MARYADIT,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA, SATARA

In the result, the appeal of the assessee is allowed

68 taxтапп.com 298 (Kerala),\nthe Kerala High Court held that a return filed by assessee\nbeyond period stipulated under section 139(1) or 139(4) or\nunder section 142(1) or section 148 can also be accepted and\nacted upon for entertaining claim raised under section 80P

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

section 80P(2)(a)(i) in respect of interest income earned by a cooperative society from the cooperative banks/commercial banks, there is a cleavage of judicial opinion among several High Courts on the issue of eligibility of this kind of income for exemption u/s. 80P(2)(a)(i) of the Act. The Hon’ble Punjab & Haryana High Court

HAVELI TALUKA VEEJ KAMGAR SAHAKARI PATHSANSTHA MARYADIT,PUNE vs. INCOME TAX OFFICER WARD 6 (1) PUNE, PMT BUILDING, SWARGATE

In the result, the appeal of the assessee is allowed

section 80P(2)(a)(i) in respect of interest income earned by a\ncooperative society from the cooperative banks/commercial banks, there is a\ncleavage of judicial opinion among several High Courts on the issue of\neligibility of this kind of income for exemption u/s.80P(2)(a)(i) of the Act. The\nHon'ble Punjab & Haryana High Court

SOLAPUR DIST M S K SAMITI H MASTER T AND N T PATH MYDT PANDHARPUR,PANDHARPUR vs. ITO, WARD 2, PANDHARPUR

In the result appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.804/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Solapur Dist M S K Samiti H The Income Tax Officer, Master T & N T Path V Ward-2, Pandharapur. Mydtpandharpur, S 3980, Station Road, Pandharpur. Maharashtra – 413304. Pan: Aanas9890E Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri Sourabh Nayak – Addl.Cit(Dr) Date Of Hearing 15/02/2024 Date Of Pronouncement 08/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal 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 Dated 11.05.2023 Emanating From Assessment Order Dated 30.07.2019Passed Under Section 144 R.W.S 144A Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Assessee Was In Presumption That Co Operative Societies Income Is Exempt Under 80P Generally Maximum Co Solapur Dist M S K Samiti H Master T & N T Path Mydt Pandharpur [A]

Section 80P for reason of it being allowed to Co-operative Societies. We also notice a Division Bench decision of this Court in Chirakkal Service Co-operative Bank Ltd. v. CIT [2016] 68

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

section 80P(2)(a)(i), other issues raised by the appellant have become redundant.” 6. Dissatisfied, the Revenue is in appeal before the Tribunal and all the grounds of appeal relate thereto. 7. The Ld. AR reiterated the same submissions made before the lower authorities in support of its claim of deduction of interest income u/s 80P

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

section 80P(2)(a)(i) in respect of interest income earned by a\ncooperative society from the cooperative banks/commercial banks, there is a\ncleavage of judicial opinion among several High Courts on the issue of eligibility\nof this kind of income for exemption u/s.80P(2)(a)(i) of the Act. The Hon'ble\nPunjab & Haryana High Court

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.

section 80P(2), which provides that: '(a) in the case of a cooperative society engaged in— (i) carrying on the business of banking or providing credit facilities to its members …., the whole of the amount of profits and gains of business attributable to any one or more of such activities' shall be allowed as deduction. The assessee is admittedly

SHREE SANT SAVTA GRAMIN BIGAR SETI SAHAKARI PATHSANSTA MARAYADIT,NASHIK vs. ASSESSMENT UNIT, INCOME TAX DEPARTMENT, DELHI

In the result, appeal of the Assessee is partly allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.1625/Pun/2025 निर्धारण वषा / Assessment Year: 2017-18 Shree Sant Savta Gramin Bigar V Assessment Unit, Seti Sahakari Pathsanstha S. Income Tax Department, Maryadit, Delhi. Pimpalgaon, Niphad, Nashik – 422209. Pan: Aacas4098M Appellant/ Assessee Respondent / Revenue Assessee By None Revenue By Shri Dayanand Jawalikar – Addl.Cit Date Of Hearing 14/10/2025 Date Of Pronouncement 31/10/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2017-18, Dated 27.11.2024 Emanating From Assessment Order U/S.143(3) Of The I.T.Act, Dated 15.12.2019. The Assessee Has Raised Following Grounds Of Appeal :

80P(2)(d) of the IT Act was not justified. 3. The Appellate craves the right to add, amend, modify, alter, revise, substitute, delete any or all grounds of the appeal, if deemed necessary at the time of hearing of the appeal.” Delay : 1.1 There is a delay of 157 days in filing appeal before this Tribunal. We have perused

SHREE SHIV SAHYADRI NAGARI SAHAKARI PATHSANSTHA MARYADIT,PUNE vs. INCOME TAX OFFICER WARD 7(3) PUNE, PUNE

In the result, appeal of the assessee is allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1788/Pun/2024 िनधा"रण वष" / Assessment Year: 2019-20 Shree Shiv Sahyadri Nagari V The Income Tax Officer, Sahakari Pathanstha S Ward-7(3), Pune. Maryadit, Sai Park Road, Dighi, Pune – 411015. Pan: Aaeas1417N Appellant/ Assessee Respondent / Revenue Assessee By Shri Deepak Sasar – Ar Revenue By Smt. Shabana Parveen – Addl.Cit(Dr) Date Of Hearing 06/11/2024 Date Of Pronouncement 07/11/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Under Section 250 Of The Income Tax Act, 1961 Dated 28.06.2024 For A.Y.2019-20. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Ld.Cit(A) Has Wrongly Confirmed The Disallowance Of Deduction Of Rs.15,60,115/- Claimed By The Appellant U/S.80P(2)(A)(I) Of The Income Tax Act, 1961. 2. Alternatively, The Interest Income Earned By The Appellant From The Investments In A Co-Operative Bank Is Also Eligible For Deduction Under Section 80P(2)(D) Of The Income Tax Act, 1961. 3. The Appellant Crave Leave To Add, Delete, Amend, Alter, Vary And/Or Withdraw All Or Any One Of The Above Grounds Of Appeal.”

68 taxmann.com 298 (Kerala), the Kerala High Court held that a return filed by assessee beyond period stipulated under section 139(1) or 139(4) or under section 142(1) or section 148 can also be accepted and acted upon for entertaining claim raised under section 80P

SHRI PARSHWANATH NAGARI SAHAKARI PATHSANSTH,SATARA vs. DCIT, CENTRAL CIRCLE 2(4), PUNE, PUNE

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

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

80P in respect of the amount of Rs. 7,20,24,836/- added u/s 68. Further, as these unexplained Fixed Deposits totalling to Rs. 7,20,24,836/- were treated as Unexplained Cash Credits u/s 68 of the IT Act, the same were charged to tax as per the provisions of section

SHIRALA TALUKA SAHAKARI DUDH UTPADAK & PURAVATHA SANSTHA LTD,,SANGLI vs. INCOME-TAX OFFICER, WARD - 2(1),, SANGLI

In the result, the appeal of the assessee is partly allowed

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

section.” 3. During the course of assessment proceedings, AO on perusing the details furnished by the assessee noticed that assessee had sold milk worth Rs.19,24,82,650/- which included sales of Rs.10,86,33,592/- made to persons other than Federal Society, the Government or local authority or a Government company as specified u/s 80P

KAI FAKIRA JAIRAM PATIL SAHAKARI PATSANSTHA MARYADIT SHAHADA,NANDURBAR vs. ITO, WARD-1, DHULE, DHULE

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

section 80P(2)(d) in respect of interest income earned by a cooperative society from the cooperative bank. There is a cleavage of judicial opinion among several High Courts on the issue of eligibility of this kind of income for exemption u/s. 80P(2)(a)(i) of the Act. The Hon’ble Punjab & Haryana High Court in the case

WILDERNEST BETTER LIVING & MAINTENANCE CO-OPERATIVE SOCIETY LIMITED,PUNE vs. INCOME TAX OFFICER, WARD 6(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.856/Pun/2025 िनधा"रण वष" / Assessment Year: 2020-21 Wildernest Better Living V The Income Tax Officer, Maintenance Co-Operative S Ward-6(1), Pune. Society Limited, Plot No.58, 59 & 60, Woldernest Society, Khadakwasla, Taluka Haveli, Pune – 411024. Maharashtra. Pan: Appellant/ Assessee Respondent / Revenue Assessee By Shri Arpit Dnyandeo Dambhare & Shri Deepak Sasar – Ca’S Revenue By Shri Madhan Thirmanpalli – Addl.Cit(Dr) Date Of Hearing 15/05/2025 Date Of Pronouncement 23/05/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Directed Against The Order Of Ld.Addl./Joint Commissioner Of Income Tax(Appeal), Panaji Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2021-22 Dated

68[or increase in income] indicated in the audit report but not taken into account in computing the total income in the return; (v) disallowance of deduction claimed under 69[section 10AA or under any of the provisions of Chapter VI-A under the heading "C.—Deductions in respect of certain incomes", if] the return is furnished beyond

S T CO-OPERATIVE CREDIT SOCIETY,PUNE vs. ITO, WARD 5(1), PUNE

In the result, appeal of the assessee is allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2136/Pun/2024 िनधा"रण वष" / Assessment Year: 2020-21 S T Co-Operative Credit V The Income Tax Officer, Society, S Ward-5(1), Pune. Swargate S T Depo, Veer Savarkar Nagar, Swargate Bus Stand, Pune – 411037. Pan: Aabas6856L Appellant/ Assessee Respondent / Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Prakash L Pathade – Dr Date Of Hearing 13/11/2024 Date Of Pronouncement 18/11/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Under Section 250 Of The Income Tax Act, 1961 Dated 09.08.2024 For A.Y.2020-21. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Cit(A) Erred In Dismissing The Appeal Of The Appellant By Refusing To Condone The Delay Of 108 Days In Filing The Appeal Without Appreciating That The Said Delay Was Due To Reasonable Cause As Explained In The Application For Condonation Of Delay Filed Before Cit(A) & Therefore, The Said Delay Ought To Have Been Condoned In The Interest Of Justice & The Appeal Should Have Been Adjudicated On Merits. 2. The Learned Cit(A) Ought To Have Appreciated That The Deduction U/S 80P Was Allowable In Respect Of Interest Earned From Deposits Made By Cooperative Banks As Consistently Held By Honorable

68,448/- from PDCC Bank and S.T.Co-operative Bank Limited. The Assessing Officer has held that after insertion of section 80P

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

section 80P(2)(a)(i), the Society is required to substantiate the principle of mutuality with respect to the loans taken from members to loan advanced/ investment made by it. To come to a conclusive discussion, the AO should have verified whether the loans/ deposit taken are given back to the members as loans/ advances or not. The assessment

VITHAL RAO SHINDE SSK LTD,SOLAPUR vs. ACIT, SOLAPUR

In the result, all the appeals of assessee and Revenue are allowed as indicated above

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

80P is misplaced. Such provision states that : ` The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank.’ As the assessee under consideration is not a Co-operative Bank, the mandate of subsection (4) does not extend

SHRI DUDHGANGA VEDGANGA SAH: SAKHAR KARKHANA LTD,KOLHAPUR vs. ACIT, KOLHAPUR

In the result, all the appeals of assessee and Revenue are allowed as indicated above

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

80P is misplaced. Such provision states that : ` The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank.’ As the assessee under consideration is not a Co-operative Bank, the mandate of subsection (4) does not extend