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

68 and the Hon’ble Kolkata High Court in the case of CIT Vs. Southern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a view that the income arising on the surplus invested in short term deposits and securities cannot be attributed to the activities of the society and, therefore, not eligible for exemption u/s.80P(2

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

d) of the Act,\nthe Co-ordinate Bench of Pune Tribunal in the case of Shri Vivekvardhini\nNagari Sahakari patsanstha Ltd. Vs. ITO in ITA No. 888/PUN/2024, dated\n05.08.2024 has held as under :\n\"8. As regards, the issue as to the allowability of exemption under the\nprovisions of section 80P(2)(a)(i) in respect of interest income

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

68 and the Hon'ble Kolkata High Court in the case of CIT Vs.\nSouthern Eastern Employees Cooperative Credit Society Ltd. 390 ITR 524 took a\nview that the income arising on the surplus invested in short term deposits and\nsecurities cannot be attributed to the activities of the society and, therefore, not\neligible for exemption u/s.80P(2

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

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

INCOME TAX OFFICER , INCOME TAX OFFICE PANDHARPUR vs. DHANSHREE MAHILA GRAMIN BIGARSHETI SAHAKARI PAT SANSTHA LTD, MANGALWEDHA

Appeal is dismissed in above terms

Bench: Shri Satbeer Singh Godara & Shri Inturi Rama Rao

68) (ii) Karnataka High Court in Totgars Co-operative Sale Society (2017, 395 ITR 611) (iii) Gujarat High Court in State Bank of India (2016, 389 ITR 578) (iv) Punjab & Haryana High Court in Punjab State Co-op Development Bank (2016, 389 ITR 607) all of which have held that Interest income from Fixed Deposits was to be assessed

TALEGAON NAGARI SAHAKARI PATSANSTHA LIMITED,PUNE vs. INCOME TAX OFFICER WARD-9(3), PUNE, PUNE

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

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.743/Pun/2024 "नधा"रण वष" Assessment Year : 2020-21 Talegaon Nagari Sahakari Vs. Ito, Ward-9(3), Patsanstha Limited, Pune Bajar Peth, Talegaon Dabhade, Tal. Maval, Dist. Pune 410506 Maharashtra Pan : Aabat3160G Appellant Respondent

68,351/- earned on FDs with other co-operative banks holding that the said interest does not qualify for deduction. 3. Being aggrieved, an appeal was filed before the NFAC, who vide impugned order confirmed the action of the Assessing Officer placing reliance on the decision of the Hon’ble Karnataka High Court in the case of Totgars Co.op Sale

M/S DHULE NANDURBAR DISTRICT POLICE CO-OP CREDIT SOCIETY,DHULE vs. INCOME TAX OFFICER, WARD-1, DHULE, DHULE

Bench: Shri Satbeer Singh Godara

68,547/- and Rs.1,33,961/- made by Assessing Officer in the assessment order(s) dated 28.11.2019 and 24.03.2021, for 2 ITA.Nos.194 & 195/PUN./2024 assessment years 2017-2018 and 2018-2019, respectively, representing interest income from the investments made in co- operative/scheduled bank(s). The same is found to be no more res integra in light of this tribunal

M/S DHULE NANDURBAR DISTRICT POLICE CO-OP CREDIT SOCIETY,DHULE vs. INCOME TAX OFFICER, WARD-1, DHULE, DHULE

Bench: Shri Satbeer Singh Godara

68,547/- and Rs.1,33,961/- made by Assessing Officer in the assessment order(s) dated 28.11.2019 and 24.03.2021, for 2 ITA.Nos.194 & 195/PUN./2024 assessment years 2017-2018 and 2018-2019, respectively, representing interest income from the investments made in co- operative/scheduled bank(s). The same is found to be no more res integra in light of this tribunal

SHAHUPURI VYAPARI NAGARI SAHAKARI PAT SANSTHA LTD KOLHAPUR,KOLHAPUR vs. INCOME TAX OFFICER WARD 2(1), KOLHAPUR

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara

68,730/-; there is hardly any dispute that the same represents interest derived from various co-operative societies/banks. It is found that the instant issue is no more res 2 ITA.No.216/PUN./2024 integra in light of this tribunal’s recent coordinate bench’s order ITA.No.1249/PUN./2018 dated 07.01.2022 in The Rena Sahakari Sakhar Karkhana Ltd. vs. PCIT

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

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

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

d) 6 ITA No.281/PUN/2024, AY 2017-18 was not available to the interest from nationalised banks. Therefore, AO added Rs.1,54,21,304 to the total income. 6.2. The AO has invoked the decision of the Hon Supreme Court in Totgars CoOperative Sales Society Ltd vs CIT [2010] 322 ITR 283 (SC). The Hon. Supreme Court held that income from

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

d) of the Act. 5 ITA No.575/PUN/2024, AY 2017-18 4.2 However, the Ld. PCIT did not agree with the above submissions/ contentions of the assessee and by observing that the funds immediately not required for providing credit facilities are invested and the interest on surplus funds is to be treated as taxable under the head "Other Sources", he rejected

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

PUNE ZILHA MADHYAWARTI SAHAKARI BANK SEVAKANCHI SAHAKARI PATSANSTHA MARYADIT,PUNE vs. PR. CTI -3, PUNE

In the result, appeal of the assessee is allowed

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1086/Pun/2025 Assessment Year : 2021-22

68,150/- and concluded the assessment. 4. Subsequently, ld. PCIT examined the assessment record and under the provisions of section 263 of the Act issued a show cause notice to the assessee on 18.02.2025 and main issues raised therein is that (1) assessee is not entitled for deduction u/s.80P(2)(d) of the Act for the interest income from

JAKRAYA MULTI STATE CO-OPERATIVE CREDIT SOCEITY LIMITED,SOLAPUR vs. ASSESSING OFFICER, NATIONAL E-ASSESSMENT CENTRE

The appeal of the assessee stands ALLOWED

Bench: Hon’Ble Shri G. D. Padmahshali & Hon’Ble Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No. 1423/Pun/2024 निर्धारण वषा / Assessment Year : 2018-19

68,298/- u/s 80P(2)(d) of the Act, in result the disallowance stood restricted to ₹5,36,732/- representing the interest received from Dena Bank & IDBI bank. 4.3 Aggrieved assessee came in present belated appeal filed on 20/06/2024 challenging the balance disallowance of ₹5,36,732/- retained by the Ld. AO after giving effect to the direction

YESHWANTRAO CHAVAN GBS,PUNE vs. INCOME TAX OFFICER, WRD-10(5), PUNE, PUNE

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

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.698/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Yeshwantrao Chavan Gbs, Vs. Ito, Ward-10(5), Pune. Near Post Office Belhe, At & Post Belhe, Pune, Tal. Junnar- 412410. Pan : Aaaaa0697A Appellant Respondent Assessee By : Shri Pramod S. Shingte Revenue By : Shri Rajesh Gawali Date Of Hearing : 20.06.2023 Date Of Pronouncement : 10.07.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 01.03.2023 For The Assessment Year 2017-18. 2. Briefly, The Facts Of The Case Are That The Appellant Is A Cooperative Society Registered Under The Provisions Of Maharashtra Co-Operative Societies Act, 1960. It Is Engaged In The Business Of Accepting Deposits From Its Members & Providing Credit Facilities

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