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1 - 10 of 14 (0.24 seconds)The Income Tax Act, 1961
State Bank Of India vs Assistant Commissioner Of Income Tax on 4 November, 2022
Thus, taking support from the aforesaid judicial pronouncement
of the Hon'ble High Court of jurisdiction, we respectfully follow the view taken
by the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of
Income Tax and Anr. v. Totagars Cooperative Sale Society [2017] 78
taxmann.com 169/392 ITR 74 (Karnataka) and Hon'ble High Court of Gujarat
in the case of State Bank Of India v. CIT [2016] 72 taxmann.com 64/290 CTR
129/389 ITR 578/241 Taxman 163 (Gujarat), wherein it was observed that
the interest income earned by a co-operative society on its investments held
with a cooperative bank would be eligible for claim of deduction under
Sec.80P(2)(d) of the Act."
Mig Co Operative Housing Society Group- ... vs Ito 19(3)(3), Mumbai on 17 February, 2017
(ii) C. Green Cooperative Housing and Society Ltd. v. ITO 21(3)(2),
Mumbai (ITA No. 1343/Mum/2017, dated 31.03.2017
The Maharashtra Co-Operative Societies Act, 1960
The Pr. Commissioner Of Income Tax, vs The Totagars Co-Operative Sale ... on 16 June, 2017
Thus, taking support from the aforesaid judicial pronouncement
of the Hon'ble High Court of jurisdiction, we respectfully follow the view taken
by the Hon'ble High Court of Karnataka in the case of Pr. Commissioner of
Income Tax and Anr. v. Totagars Cooperative Sale Society [2017] 78
taxmann.com 169/392 ITR 74 (Karnataka) and Hon'ble High Court of Gujarat
in the case of State Bank Of India v. CIT [2016] 72 taxmann.com 64/290 CTR
129/389 ITR 578/241 Taxman 163 (Gujarat), wherein it was observed that
the interest income earned by a co-operative society on its investments held
with a cooperative bank would be eligible for claim of deduction under
Sec.80P(2)(d) of the Act."
M/S The Totagars Co Operative Sale ... vs Pr. Commissioner Of Income Tax on 27 October, 2021
Hence the decision of Hon'ble Supreme Court in the case of The
Totagar Cooperative Sales Society Limited v. ITO has no application to
the facts of the present case.
K. Subramanian, Ito And Another vs Siemens India Ltd. And Another on 20 April, 1983
We however find that as held by the Hon'ble High Court of Bombay
in the case of K. Subramanian and Anr. v. Siemens India Ltd. and Anr [1983]
36 CTR 197/[1985] 156 ITR 11/[1983] 15 Taxman 594 (Bombay), where there
is a conflict between the decisions of non-jurisdictional High Court's, then a
view which is in favour of the assessee is to be preferred as against that taken
against him.
Gvk Inds. Ltd & Anr vs The Income Tax Officer & Anr on 1 March, 2011
deduction under section 80P
V) Supa (Kurel) Vibhag Interest income received by
Seva Sahakari Mandli assessee, co-operative society, from
Ltd. v. ITO FDRs in nationalized bank would
[2017] 87 taxmann.com qualify for exemption under section
355 (Ahmedabad - Trib.) 80P(2)(a)(i).