JAGDAMBA GRAMIN BIGARSHETI SAHAKARI PATSANSTHA MARYADIT,AHMEDNAGAR V. ITO WARD-2, AHMEDNAGAR

ITA 1686/PUN/2024

AI Insights

The case involves Jagdamba Gramin Bigarsheti Sahakari Patsanstha Maryadit, a cooperative society, appealing against an order from the National Faceless Appeal Centre (NFAC), which was based on an ex-parte best judgment assessment under section 144 of the Income-tax Act, 1961. The society was assessed for unexplained cash deposits amounting to Rs. 85,72,800 in the assessment year 2016-17, leading to an addition of Rs. 1,24,97,234. The society failed to respond to earlier notices and hearings, prompting the tribunal to provide another opportunity for the society to present its case and substantiate the source of the deposits.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 708418 (ITAT-PUNE)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-07-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Assessment Year: 2016-2017
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAMNATH P MURKUNDE
• Assessee Lawyers: PRASAD R KULKARNI
• Keywords: Set aside; Reasonable cause
• Section: 148; 144

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “A”, PUNE BEFORE DR.MANISH BORAD, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं./ITA No.1686/PUN/2024 Assessment Year : 2016-17 Jagdamba Gramin Bigarsheti Sahakari Patsanstha Maryadit A/P- Devibhoyre, Tal- Parner, Dist- Ahmednagar-414302, Maharashtra PAN: AABTJ0944P Vs. Income Tax Officer, Ward-2, Ahmednagar Appellant Respondent आदेश / ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : The captioned appeal at the instance of assessee pertaining to A.Y. 2016-17 is directed against the order dated 11.06.2024 of National Faceless Appeal Centre(NFAC), Delhi passed u/s.250 of the Income-tax Act, 1961 (hereinafter also called ‘the Act’) arising out of Assessment Order dated 14.02.2024 passed u/s.147 r.w.s 144 r.w.s 144B of the Act. 2. At the outset, ld. Counsel for the assessee submitted that assessee failed to avail the opportunities granted by the Assessing Officer as well as CIT(A) resulting into ex-parte best judgment assessment u/s.144 of the Act. He further submitted that ld. CIT(A) has not dealt the issues on merits of the case and thus prayed that the matter may please be restored to the file of ld. Jurisdictional Officer so that all necessary details can be filed to Appellant by : Shri Prasad R Kulkarni Respondent by : Shri Ramnath P Murkunde Date of hearing : 25.06.2025 Date of pronouncement : 14.07.2025 ITA No.1686/PUN/2024 Jagdamba Gramin Bigarsheti Sahakari Patsanstha Maryadit 2 explain the source of alleged cash deposits. Ld. Departmental Representative did not oppose the request. 3. We have heard the rival contentions and perused the record placed before us. We find that the assessee is a Cooperative Society and for A.Y 2016-17 cash of Rs.85,72,800/- was found to be deposited in the bank account of the assessee. Assessee did not file the return of income even after issuance of notices u/s. 148 of the Act. Ld. Assessing Officer based on the information available on record completed the assessment making addition of Rs.1,24,97,234/-. Aggrieved assessee preferred appeal before CIT(A) but again failed to respond to the notices of hearing and furnish the requisite details in respect of its grounds of appeal. Before us, Ld. Counsel for the assessee has furnished paper book running into 192 pages which includes copy of Registration of Society, Audit Report for the Financial Year 2015-16 along with Members list and Income-tax returns filed from A.Y 2018-19 onwards. From going through all these details and the contention of ld. Counsel for the assessee and in the larger interest of justice being fair to both the parties, we deem it proper to provide one more opportunity to the assessee to substantiate its case. We therefore restore all the issues raised before us to the file of ld. Jurisdictional Assessing Officer before assessee shall file all the details. After carefully examining the details, ld. JAO shall frame denovo assessment in accordance with law after affording reasonable opportunity of hearing to the assessee. Assessee is directed to provide updated email id and contact detail to the department for receiving the notices from ITBA portal. Assessee is also directed to remain vigilant and not to take adjournment unless otherwise required for reasonable cause. ITA No.1686/PUN/2024 Jagdamba Gramin Bigarsheti Sahakari Patsanstha Maryadit 3 Impugned order is set aside. The effective grounds raised by the assessee are allowed for statistical purposes. 4. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced on this 14th day of July, 2025. Sd/- Sd/- (VINAY BHAMORE) (MANISH BORAD) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; \u0001दनांक / Dated : 14th July, 2025. Satish आदेश क\u0002 \u0003ितिलिप अ ेिषत / Copy of the Order forwarded to : 1. अपीलाथ / The Appellant. 2. \u000eयथ / The Respondent. 3. The Pr. CIT concerned. 4. िवभागीय ितिनिध, आयकर अपीलीय अिधकरण, “A” ब\u0014च, पुणे / DR, ITAT, “A” Bench, Pune. 5. गाड\u0004 फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune. "