2024 (9) TMI 1268

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....R INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of Addl./JCIT(A)-1, Lucknow dated 19.03.2024 for the assessment year 2021-22. 2. Brief facts of the case are as under : The appellant is a Primary Credit Cooperative Society registered under the Maharashtra Cooperative Societies Act, 1960. It is engaged in the business of providing credit facilities ....

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....le Society Ltd. Vs. ITO (2010 322 ITR 283 (SC) and the judgment of Hon'ble Karnataka High Court in the case of PCIT & Ors Vs. Totagars Cooperative Sale Society confirmed the action of CPC denying the deduction u/s. 80P(2)(d) of the Act claimed at Rs. 5,57,630/-. 4. Being aggrieved, the appellant is in appeal before the Tribunal in the present appeal. 5. I heard the rival submissions and peru....

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.... is that interest income should have been derived from the investment made by the assessee cooperative society with any other cooperative society. This issue was considered by the Hon'ble Karnataka High Court in the case of CIT vs. Totagars Cooperative Sale Society, 392 ITR 74 (Karn) wherein the Hon'ble High Court after referring to the decision of the Hon'ble Supreme Court in the case of Totgar's....