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Documents citing Income Tax Officer, Ward-1(2), ... vs M/S The Annigeri Agricultural Produce ... on 23 March, 2018

Income Tax Officer, Ward-1(7), ... vs The Dharwad Urban Credit Souharda ... on 18 June, 2024

In ground No. 7, 8 and 9 the Appellant has contested the action of the AO in not allowing deduction u/s.80P(2)(d) of the Act. It is observed that the AO disallowed the interest income of Rs.2,69,30,408/- earned from Co-operative banks as Co-operative Banks are not Co-operative societies for the purpose of 80P(2)(d). The Hon'ble Karnataka High Court in the case of PCIT, Hubli Vs. Totgens Co-operative Sale Society in 392 ITR 74 (Karnakata) has held that any interest earned by a Co- operative Society from a Co-operative Bank would necessarily be deductible u/s. 80P(2)(d) of the Act. In view of the above decision of the Jurisdictional High Court. the Appellant is eligible for deduction u/s. 80P(2)(d) and the AO is hereby directed to allow the deduction. These grounds are allowed.
Income Tax Appellate Tribunal - Bangalore Cites 12 - Cited by 0 - Full Document

The Karnataka State Regn And Stamps ... vs Acit, Circle-2(1)(1), Bengaluru on 29 December, 2025

21. We find that the issue before us the facts of the case are more nearer to the decision of the Hon'ble Karnataka High court in case of Tumkur Merchants [supra] and Decision of Principal Commissioner of Income- tax, Hubli vs. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169 (Karnataka)/[2017] 392 ITR 74 (Karnataka)[05- 01-2017] as those decision deals with deduction u/s 80 P (2) (a) (i) of the Act.
Income Tax Appellate Tribunal - Bangalore Cites 17 - Cited by 0 - Full Document

Sri Bhyraveshwara Credit Cooperative ... vs Income Tax Officer Ward 3(1)(1), ... on 9 February, 2026

In view of the above facts, respectfully following the decision of the honourable High Court in case of Principal Commissioner of Income- tax, Hubli vs. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169 (Karnataka)/[2017] 392 ITR 74 (Karnataka)[05- 01-2017] and Tumkur Merchants Souharda Credit Cooperative Ltd. vs. Income-tax officer Ward-V, Tumkur [2015] 55 taxmann.com 447 (Karnataka)/[2015] 230 Taxman 309 (Karnataka)[28-10-2014] ,I do not have any hesitation in holding that assessee is entitled to deduction on the sum of ₹ 3,558,633/- on the interest income ITA No. 2315/Bang/2025 Page 6 of 6 earned by the assessee on from Janta Seva Cooperative Bank of ₹ 1,995,662/- and apex bank of ₹ 1,562,971/- under section 80 P (2)
Income Tax Appellate Tribunal - Bangalore Cites 14 - Cited by 0 - Full Document

Shimoga Urban Development Authority ... vs Income Tax Officer, Ward-5, Shimoga on 5 December, 2025

6. The appellant relied on the decisions of the Hon'ble Karnataka High Court in the case of CIT, Hubli Vs Hubli Dharwad urban Development Authority (ITA Number 593 of 2015) and The Belgaum Urban Development Authority and CIT Belgaum (ITA 5020 of 2012) in support of its claim for exemption under section 11 of the Act. However, the assessees in those cases were granted registration under section 12AA of the Act and does not apply to appellant's case.
Income Tax Appellate Tribunal - Bangalore Cites 3 - Cited by 0 - Full Document

Shimoga Urban Development Authority ... vs Income Tax Officer, Ward-5, Shimoga on 5 December, 2025

6. The appellant relied on the decisions of the Hon'ble Karnataka High Court in the case of CIT, Hubli Vs Hubli Dharwad urban Development Authority (ITA Number 593 of 2015) and The Belgaum Urban Development Authority and CIT Belgaum (ITA 5020 of 2012) in support of its claim for exemption under section 11 of the Act. However, the assessees in those cases were granted registration under section 12AA of the Act and does not apply to appellant's case.
Income Tax Appellate Tribunal - Bangalore Cites 3 - Cited by 0 - Full Document

Shimoga Urban Development Authority ... vs Income Tax Officer, Ward-5, Shimoga on 5 December, 2025

6. The appellant relied on the decisions of the Hon'ble Karnataka High Court in the case of CIT, Hubli Vs Hubli Dharwad urban Development Authority (ITA Number 593 of 2015) and The Belgaum Urban Development Authority and CIT Belgaum (ITA 5020 of 2012) in support of its claim for exemption under section 11 of the Act. However, the assessees in those cases were granted registration under section 12AA of the Act and does not apply to appellant's case.
Income Tax Appellate Tribunal - Bangalore Cites 3 - Cited by 0 - Full Document

Basaveshwaranagar Credit ... vs Income Tax Officer, Ward-6(2)(1), ... on 24 March, 2026

10. Further honourable Karnataka High Court in Principal Commissioner of Income- tax, Hubli vs. Totagars Co-operative Sale Society [2017] 78 taxmann.com 169 (Karnataka)/[2017] 392 ITR 74 (Karnataka)[05-01-2017] is held that " the case of Totgars Co-operative Sale Society Ltd. v. ITO [2010] 322 ITR 283/188 Taxman 282 (SC). However, the said case dealt with the interpretation, and the deduction, which would be applicable under Section 80P(2)(a)(i) of the I.T. Act. For, in the present case the interpretation that is required is Section 80P(2)(d) of the I.T. Act and not Section 80P(2)(a)(i) of the I.T. Act. Therefore, the said judgment is inapplicable to the present case. Thus, neither of the two substantial questions of law canvassed by the learned counsel for the Revenue even arise in the present case."
Income Tax Appellate Tribunal - Bangalore Cites 8 - Cited by 0 - Full Document
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