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Income Tax Officer, Pandharpur vs Dhanshri Multi State Co-Operative ... on 13 June, 2024 cites

Karmaveer Bhaurao Patil Nagari ... vs Income-Tax Officer, Ward - 2 (3),, ... on 7 October, 2019

In the absence of their being any change in the legal position prevailing on this issue after the passing of the order by the Pune Bench of the Tribunal in Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit (supra) and host of other orders reiterating the similar view, respectfully following the precedent, we uphold the impugned order in allowing deduction u/s.80P on the interest income"
Income Tax Appellate Tribunal - Pune Cites 27 - Cited by 34 - Full Document

Mantola Co-Operative Thrift And Credit ... vs Commissioner Of Income Tax 21 on 17 July, 2017

Further, section 80P(4) is to beread as a proviso, which proviso now specifically excludes co-operative banks which are co- operativesocieties engaged in banking business i.e. engaged in lending money to members of the public, which have a licence in this behalf from the RBI. Judged by this touchstone, it is clear that the impugned Full Bench judgment is wholly incorrect in its reading of Citizen Cooperative Society Ltd. (supra). Clearly, therefore, once section 80P(4) is out of harm's way, all the assessees in the present case are entitled to the benefit of the deduction contained in section 80P(2)(a)(i), notwithstanding that they may also be giving loans to their members which are not related to agriculture. Also, in case it is found that there are instances of loans being given to non-members, profits attributable to such loans obviously cannot be deducted."(emphasis supplied) Unquote.
Supreme Court - Daily Orders Cites 0 - Cited by 118 - S K Kaul - Full Document
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