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Ito 17(2)(1), Mumbai vs Jansasgar Kamgar Sahakari Patpedhi ... on 11 April, 2017 cites

Se, Sec & E Railways Eccs Ltd.(Formerly ... vs Acit, Circle-28, Kolkata, Kolkata on 14 December, 2016

6. We have heard the rival submissions and perused the relevant material on record. We find that a similar issue arose before the Hon'ble Bombay High Court in the case of Quepem Urban Co-operative Credit Society (supra). In the above case, the assessee was a Co- operative Society registered under the Goa Co-operative Societies Act and it was engaged in providing credit facilities to its members. The income so earned from the said activity, was claimed as deduction u/s 80P(2)(a)(i) of the Act. The AO disallowed the assessee's claim on the ground that the assessee was a primary Co-operative Bank and, therefore, hit by the provisions of section 80P(4) which excluded the benefit of section 80P. However, the Commissioner (Appeals) allowed the assessee's claim holding that it was not a Cooperative Bank but a Cooperative Credit Society. The Tribunal restored the AO's order. On appeal, the Hon'ble Bombay High Court held that on facts, the assessee was not a Cooperative Bank rather it was a Cooperative Society and, therefore, its claim for deduction was to be allowed. However, the Hon'ble High Court held further :
Income Tax Appellate Tribunal - Kolkata Cites 14 - Cited by 38 - Full Document

Commissioner Of Income Tax, Belgaum vs Biluru Gurubasawa Pattina Sahakari ... on 6 July, 2015

4. Aggrieved by the order of the AO, the assessee's society filed an appeal before the learned CIT(A). We find that the learned CIT(A) relying on the decision in the case of (i) Quepem Urban Co-operative Credit Society Ltd. vs. ACIT (2015) 58 taxman.com 133 (Bom), (ii) CIT vs. Sri Biluru Gurubasave Pattini Sahakari Sangha Niyamitha Bagalkot (2015) taxmann.com 280 (Kar), (iii) CIT vs. Jafari Momin Vikssa Co- operative Credit Society Ltd. (2014) 49 taxmann.com 571 (Guj), (iv) Tashomandir Sahakari Patpedi Ltd. vs. ITO (ITA No. 3477/Mum/2014) held the assessee Co-operative Society as not a Co- operative Bank and thus eligible for deduction u/s 80P(2)(a)(i). The learned CIT(A) further held the dividend income of Rs. 1,38,720/- received by the assessee Co-operative Society from its shareholdings in other Co-operative Societies as eligible for deduction u/s 80P(2)(d). In view of the above, the learned CIT(A) allowed the appeal filed by the assessee.
Supreme Court - Daily Orders Cites 0 - Cited by 74 - Full Document
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