TaxTMI 
TaxTMI 
2026 (9) TMI 313
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....r.DR is represented on behalf of the revenue. 3. The ld. Authorised Representative submitted that the assessee is a cooperative society which has 293 members as on 31/03/2024 consisting of different primary agriculture cooperative societies, large area multipurpose societies and farmers' produce organization. It was the submission that the assessee is the apex commodity cooperative body in the State of Jharkhand specifically meant for promoting the interest of its members being the Scheduled Caste and Scheduled Tribe through the development of Lax industry established in the year 1963 by the then State Government of Bihar. 4. The ld. AR has filed a written submission which reads as follows: "1. That the Jharkhand State Co-Operative Lac Marketing and Procurement Federation Ltd. (JASCOLAMPF in short) is apex commodity co-operative body in state of Jharkhand specifically meant for promoting the interest of the its members being the Scheduled caste/Scheduled tribe through the development of Lac industry established in the year 1963 by the then state government i.e. Govt. of Bihar. The JASCOLAMPF is set up for the overall development of tribal population being SC/ST t....
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....le denying the exemption available u/s 10(27) of the I. T. Act. 1961, in Para 5.1.4 of the impugned appellate order has held that "The first condition u/s. 10(27) of the I.T.Act, is that the membership of a cooperative society should consist only of other cooperative societies for similar purpose and the second condition is the finances of the society should be provided by the government and such other societies. It has been further, interalia held by the Ld. CIT(A) that this can be proved by the appellant by bringing on record the list of its members which shall establish that they are schedule tribe or schedule caste or both". 6. That appellant Cooperative societies has 293 members as on 31.03.2024 consisting of different PACS (Primary Agricultural Co-operative societies), LAMPS (Large area multipurpose societies) and FPO (Farmers Producers Organization. The detail list of 293 different members is enclosed. Further the appellant is enclosing herewith on sample basis details of its members such as Malgo Primary Agriculture cooperative credit societies (In short Malgo PACS), Parhatoll PACS, Birsa Munda PACS etc., alongwith details list of members. The detail list will itse....
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....said system of "Provisions for uncollected Income" is being followed as per Cooperative Audit Manual which provides that "As per Departmental circular No. 11487 dated 28.11.1956 provisions has to be made against all income earned but not received till the date of the Balance sheet by debiting such amounts to the profit & Loss account and showing it on the liabilities side of the balance sheet as Provisions against uncollected Income." Xerox copies of the aforesaid Cooperative audit manual is enclosed herewith & marked as Annexure 8. 11. That due to aforesaid guideline as per cooperative Audit manual the appellant is showing the interest income accrued on fixed deposits in Bank on receipt basis and is accordingly surrendering the income in the next assessment year for taxation which is evident from the Profit & loss account, therefore there is no escarpment of income done by the appellant, simply the income is shown on the cash basis of accounting on the direction of Government as per aforesaid circular. 12. That appellant during the year has paid Gratuity and leave salary amounting to Rs. 40,096/- to Sri Sawna Lakra Successor of Hexsa Lakra by cheque No. ....
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....ident from the Profit & loss account, therefore there is no escarpment of income done by the appellant, simply the interest income is shown on the cash basis of accounting on the direction of Government as per aforesaid Cooperative Audit Manual. 19. That it is stated & submitted that the addition of Rs. 46,32,600/- as made by the learned Assessing Officer and confirmed by the Ld. CIT(A) is totally arbitrary, unjustified, void ab-initio bad in law. The addition as made is fit to be deleted. 20. That it is stated & submitted that in the facts and circumstances of the case, the learned Assessing Officer & CIT(A) are not justified in disallowing a sum of Rs. 40,096/- being the Gratuity and leave salary amount paid to Sri Sawna Lakra Successor of Hexsa Lakra by cheque No. 637377 dated 13.02.2013 drawn on Punjab National bank, Mahavir Chowk, Ranchi. 21. That it is stated & submitted that in the facts and circumstances of the case, the learned Assessing Officer is not justified in disallowing a sum of Rs. 4,151/- on account of auspicious day expenses being the nominal expenditure on the eve of Republic Day & Independence day celebration being the expediency of t....
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....r: The ld. AR was then asked as to how the purchases were from Scheduled Caste or Scheduled Tribe to which the ld. Authorised Representative drew our attention to the list of beneficiaries running into nearly 2044 numbers. For a sample, page 127 of the paper book containing list of 55 persons, which reads as follows: The ld. AR further drew our attention to the page No. 60 of the paper book to show that the list of caste under the category of Scheduled Castes and Scheduled Tribes which reads as follows: It was the submission that the assessee was functioning for promoting the interest of Scheduled Castes and Scheduled Tribes, the membership of the assessee society consisted only other cooperative societies which was formed for the similar purpose, the finance of the assessee society is provided by the government and from other similar cooperative societies. It was the submission that the assessee complied with all the conditions required under Section 10(27) of the Act. It was the submission that the Assessing Officer had denied the assessee the benefit on the ground that the assessee had other sources of finances and its income and finances not restricted to the governmen....
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....tribal to the non-tribal does not mean that the assessee is not functioning for promoting the interests of the members of the Scheduled Castes and Scheduled Tribes or both. Further a perusal of the financial statement of the assessee as has been extracted above also clearly shows that substantial amount in the form of paid up capital is from the State Government in respect of the statutory reserve is the government subsidy is from the government, borrowings are substantially from the government just because the assessee does derive certain incomes from other sources also will not deny the assessee the benefit of the deduction under Section 10(27) of the Act. A perusal of the proviso to Section 10(27) shows that the word used are "the finance of the society are provided by the government or such other societies", the primary finance being the share capital is from the other societies and substantially from the State Government. The borrowings are also substantially from the government and from the other cooperative societies, admittedly in Profit and Loss account, the assessee has received interest income, this does not make the stand that the assessee's finances are not provide....
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.... 768467.24 1000,COME . GOED MATMAL 1000.00 11459209.47 2. STATUTORY RESERVE 2. INVESTMENT 1276752.23 (A) RESERVE FUND 1277802.23 2500HILOUNTA, SHANE WITH ASCO PATNA 2500$0.00 1256728.64 18) SPECIAL RESERVE FUNO 1256725.64 125000 POMI GROPED NU A DELHI 125000,00 1019975.76 (C) FUNDS 1019975.76 100.000KČDE MANCHI 100.00 3903500.00 (0) SUBSIDY FROM GOVT. 3903500.00 25.00 (0)- RKOCS RANCHI 25.00 11050500.00 EIN COC SUBSIDY 11050500.00 18508606.63 5000.00 3. BORROWINGS 88508 41 INSECURITY WITH BSER 88508.80 500000 00;(A) GOVT LOAN 600000.00 10000,4KM/H) CON 10000.00 30784000.00 (8)NC DC LOAN 30784000.00 4975 00'S4 35N: 4975.00 483658.80 480141.61 IC) ADV AGAINST SALE. 480141 61 3. ADVANCES 49366614 93 (0) CC PNB M CHOWK 47275836 72 4410331 2 Y 31.0MAC 4380764.01 1124500 00 IE)IÇOF 1124500.00 HO264478.33 44436/ VAGY GENERAL 520367.751 99499.00 .C.P.F. AC. ISTAFFELABOURERS) 99499 00 128278 17 WHATN STEAM COAL 128278.32 6. OUTSTANDING LIABILITIES 5184.Dalen My SI COLAC 5189.15 2269.00 CA] BONUS PAYABLE 2769.00 4000( 09h) AOV TIAN' & MACHINARY 40000.00 10246 00 ||B) G PF PAYABLE 13246 00 308847.05 11 NOV TA STAFF 278842.08 155....
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....VI 716613687618 KUSUMI 50 15 RANCHI BIRSA MUNDA PLGCS MOHAN SANKAR BINJHIYA 535543098365 KUSUMI 50 16000 16 RANCHI BIRSA MUNDA PLGCS KALICHARAN AHIR 973801467817 KUSUMI 49.8 15936 17 RANCHI BIRSA MUNDA PLGCS KARMI DEVI 258051922496 KUSUMI 50 16000 18 RANCHI BIRSA MUNDA PLGCS UMESH AHIR 646895286472 KUSUMI 50 16000 19 RANCHI BIRSA MUNDA PLGCS MANJU DEVI 560399500763 KUSUMI 49.9 15968 20 RANCHI BIRSA MUNDA PLGCS BIRANG DEVI 477313277601 KUSUMI 49.9 15968 21 RANCHI BIRSA MUNDA PLGCS ETWA ORAON 375793456299 KUSUMI 50 16000 22 RANCHI BIRSA MUNDA PLGCS BATIYA DEVI 331841143479 KUSUMI 50 16000 23 RANCHI BIRSA MUNDA PLGCS SOBHA TOPPO 203433403200 KUSUMI 50 16000 24 RANCHI BIRSA MUNDA PLGCS LATMA MUNDA 368351407594 KUSUMI 50 16000 25 RANCHI BIRSA MUNDA PLGCS PARVATI DEVI 969365763036 KUSUMI 49.9 15968 26 RANCHI BIRSA MUNDA PLGCS BIRSA MUNDA 798798331791 KUSUMI 49.7 15904 27 RANCHI BIRSA MUNDA PLGCS BUDHUA ORAON 559703103118 KUSUMI 49.5 15840 28 RANCHI BIRSA MUNDA PLGCS KARANJUA MUNDA 284511945682 KUSUMI 50 16000 29 RANCHI BIRSA MUNDA PLGCS GHURAN MUNDA 399135953299 KUSUMI 50 16000 30 RANCHI BIRSA MUNDA PLGCS SOHRAI ORAON 731444828628 KUSUMI 50 16000 31 RANCHI BIRSA MUNDA PL....
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.... (NO 30 9 Chero THE BIHAR REORGANISATION ACT, 2000 (NO 30 10 Chik Baraik i. THE BIHAR REORGANISATION ACT, 2000 (NO 30 OF 2000) Il. THE BIHAR REORGANISATION (REMOVAL OF DIFFICULTIES) ORDER, 2003 11 Gond THE BIHAR REORGANISATION ACT, 2000 (NO 30 12 Gurait THE BIHAR REORGANISATION ACT, 2000 (NO 30 13 Ho THE BIHAR REORGANISATION ACT, 2000 (NO 30 14 Karmali THE BIHAR REORGANISATION ACT, 2000 (NO 30 15 Kharia, Dhelki Kharia, Dudh Kharia, Hill Kharia . THE BIHAR REORGANISATION ACT, 2000 (NO 30 OF 2000) ii. THE SCHEDLED CASTES AND SCHEDULED TRIBES ORDERS (AMENDMENT) ACT, 16 Kharwar THE BIHAR REORGANISATION ACT, 2000 (NO 30 17 Khond THE BIHAR REORGANISATION ACT, 2000 (NO 30 18 Kisan, Nagesia i. THE BIHAR REORGANISATION ACT, 2000 (NO 30 OF 2000) ii. THE SCHEDLED CASTES AND SCHEDULED TRIBES ORDERS (AMENDMENT) ACT, 19 Kora, Mudi-Kora i. THE BIHAR REORGANISATION ACT, 2000 (NO 30 OF 2000) Il. THE SCHEDLED CASTES AND SCHEDULED TRIBES ORDERS (AMENDMENT) ACT, 20 Korwa THE BIHAR REORGANISATION ACT, 2000 (NO 30 21 Lohra THE BIHAR REORGANISATION ACT, 2000 (NO 30 22 Mahli THE BIHAR REORGANISATION ACT, 2000 (NO 30 23 Mai Paharia, Kumarbhag Paharia i, THE BIHAR REORGANISATION ACT, 2000 (NO....