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The Income Tax Officer, Ward-1, ... vs Akshaya Co-Op. Credit Society Ltd., ... on 21 November, 2016
cites
Cambay Electric Supply Industrial Co. ... vs The Commissioner Of Income Tax, ... on 11 April, 1978
7. The word 'attributable' used in the said section is of great
importance. The Apex Court had an occasion to consider the
meaning of the word 'attributable' as supposed to derive from its
use in various other provisions of the statute in the case of
CAMBAY ELECTRIC SUPPLY INDUSTRIAL CO. LTD. v.
COMMISSIONER OF INCOME TAX , GUJARAT -II reported in ITR
VOL 113 (1978) PAGE 842 at page 93 as under:
Section 80J in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
M/S Tumkur Merchants Souharda Credit ... vs Assessee on 19 February, 2014
(supra) and the decision of Hon'ble Karnataka High Court in the case of
Tumkur Merchants Souharda Credit Cooperative Society Ltd (Supra), we
do not find any good and justifiable reason to interfere with the order of
the Ld. CIT(A) which is hereby confirmed and the appeal of the Revenue
is dismissed. We order accordingly.
Section 56 in The Income Tax Act, 1961 [Entire Act]
The Co-Operative Societies Act, 1912
Shree Siddeshwar Souhardha Sahakari ... vs Department Of Income Tax on 24 July, 2015
(c) Shree Siddeshwar Souhardhana Sahakari Niyamit v. ITO,
Ward 1, Bagalkot (KAR).
Performing Right Society Ltd. & Anr vs Commissioner Of Income-Tax & Others on 10 August, 1976
operative Society Ltd v. Income Tax officer, Ward 2(2), Mysore
(2015) 60 Taxmann 215 (KAR), the Hon'ble High Court held as
under:
M/S The Totgars Co-Operative Sale ... vs The Income Tax Officer on 30 September, 2008
He distinguished the judgment of the Hon'ble Supreme
Court in the case of M/s Totgars Cooperative Sale Society Limited (supra),
on which reliance is placed by the Revenue to contend that in the case
of the Totgars Cooperative Sale Society (Supra) the said tax payer apart
from providing credit facilitates to its members was also in the business
of marketing of agricultural produce grown by its members while in the
case of the assessee, the assessee is only providing credit facilities to its
member. The Ld. counsel for the assessee relied upon the decision of the
Coordinate Bench of this tribunal in the case of ITO v. M/s. Vyavasaya
Seva Sahakari Bank Ltd. In ITA No.124/PAN/2016 decided on
21/09/2016 wherein the Tribunal has allowed the claim of the assessee
by observing as under:-