IN THE HIGH COURT OF DELHI AT NEW DELHI 
 . 
   ITA 569/2013  
 . 
 MANTOLA CO-OPERATIVE THRIFT and CREDIT SOCIETY  LTD. 
 . 
 ..... Appellant 
 . 
 Through Mr. Ajay Vohra and Ms. Kavita Jha, 
 Advocates. 
 . 
 . 
 . 
 versus 
 . 
 . 
 . 
 COMMISSIONER OF INCOME TAX 
 . 
 ..... Respondent 
 . 
 Through Mr. Judy James, Advocate. 
 . 
 . 
 . 
 CORAM: 
 . 
 HON'BLE MR. JUSTICE SANJIV KHANNA 
 . 
 HON'BLE MR. JUSTICE SANJEEV SACHDEVA 
 . 
 . 
 . 
 O R D E R 
 . 
    16.12.2013 
 . 
 . 
 . 
 Issue notice. 
 . 
 Mr. Judy James, Advocate accepts notice on behalf of the Revenue. 
 . 
 Learned counsel for the appellant submits that in the present case 
 the assessee was only providing credit to the members as a thrift and 
 credit society.  Surplus/unutilised amount was deposited in bank to earn 
 interest and interest earned is, therefore, income from business.  He 
 submits that the case is not covered by the decision of the Supreme Court 
 in Totgars Co-operative Sale Society Limited versus Income Tax Officer, 
 (2010) 322 ITR 283 (SC) as in the said case in paragraph 10 the Supreme 
 Court has recorded a finding that the assessee therein was marketing 
 produce of the members whose sale proceeds at times were retained by them 
 and they were concerned with tax treatment of such amount. 
 . 
 List on 12th March, 2013. 
 . 
 . 
 . 
 SANJIV KHANNA, J. 
 . 
 . 
 . 
 . 
 . 
 . 
 . 
 SANJEEV SACHDEVA, J. 
 . 
 DECEMBER 16, 2013 
 . 
 VKR 
 . 
 $ 19and20. 
 .