KAKDWEEP UNION COOP LARGESIZED PRIMARY AGRICULTURAL CREDIT SOCIETY LIMITED.,SOUTH 24 PGS. V. I.T.O., WARD - 26(4), KOLKATA

ITA 1854/KOL/2024

AI Insights

The case involves the Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited, which appealed against the order of the CIT(Appeals) for the Assessment Year 2017-18. The society had deposited significant amounts of cash during the demonetization period, which led to scrutiny under the Income Tax Act. Initially, the Assessing Officer completed the assessment under section 144 due to non-compliance by the assessee in filing the required returns. The CIT(Appeals) also faced non-cooperation from the assessee, leading to the dismissal of the appeal. The ITAT, after considering the circumstances and the non-cooperation of the assessee, decided to remit the case back to the CIT(Appeals) to ensure a fair hearing, highlighting the importance of natural justice in the proceedings.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 473206 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2017-2018
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Set aside
• Section: 144; 142(1)

Judgement Text

" ITA No. 1854/KOL/2024 (A.Y. 2017-2018) Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited 1 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC’ BENCH, KOLKATA Before Shri Duvvuru RL Reddy, Vice-President (KZ) I.T.A. No. 1854/KOL/2024 Assessment Year: 2017-2018 Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited,………Appellant Kakdwip, Nayapar, Kakdwip, South 24-Parganas-743347, W.B. [PAN:AACAK6283C] -Vs.- Income Tax Officer,……………………………...Respondent Ward-26(4), Kolkata, Aayakar Bhawan, Dhakuria, Kolkata-700031, West Bengal Appearances by: N o n e, appeared on behalf of the assessee Shri Dheeraj, Sr. D.R., appeared on behalf of the Revenue Date of concluding the hearing: March 17, 2025 Date of pronouncing the order: March 20, 2025 O R D E R The present appeal is directed at the instance of assessee against the order of ld. Addl./JCIT(Appeals), Thiruvanantpuram dated 10th July, 2024 passed for Assessment Year 2017-18. ITA No. 1854/KOL/2024 (A.Y. 2017-2018) Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited 2 2. None appeared on behalf of the assessee at the time of hearing. Therefore, I have decided to dispose of the appeal after hearing the ld. Departmental Representative and the material available on record. 3. Brief facts of the case are that the assessee, a Cooperative Society, deposited cash of Rs.47,33,000/- in Account No. 129345187346 and cash of Rs.1,69,500/- in account No. 101003402633 for assessment year 2017-18 during the period of demonetization in West Bengal State Cooperative Bank Limited, Kakdwip Branch, South 24-Parganas. Accordingly notice under section 142(1) of the Income Tax Act was issued on 25.11.2017. The assessee was asked to submit the true and correct return of income before 31.03.2018, but assesaese did not file the return of income. Again, the assessee-Society received a notice under section 142(1)(ii) of the Income Tax Act for A.Y. 2017-18 on 31.05.2019. Getting no response from the side of assessee, the ld. Assessing Officer completed the assessment under section 144 of the Act assessing the total income at Rs.16,13,120/-. On being aggrieved, the assessee preferred an appeal before the ld. CIT(Appeals). 4. The ld. Addl./JCIT(Appeals) has given several opportunities to the assesese to substantiate its claim, but the appellant did not file the written submissions and did not represent the case before the ld. Addl./JCIT(Appeals). Thereafter the ld. Addl./JCIT(Appeals) dismissed the appeal on 10th July, 2024. ITA No. 1854/KOL/2024 (A.Y. 2017-2018) Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited 3 5. On being aggrieved, the assessee preferred an appeal before the ITAT. 6. At the outset, ld. D.R. brought to my notice that the assessee did not produce the relevant documents as asked by the ld. Assessing Officer during the assessment proceedings. Therefore, the ld. Assessing Officer passed the assessment order assessing the taxable income at Rs.16,13,120/-. Thereafter the assessee preferred an appeal before the ld. CIT(Appeals). The ld. CIT(Appeals) has given many opportunities to the assessee and the assessee neither filed written submission nor any evidence before the ld. CIT(Appeals). He further submitted that before the ITAT, the assessee did not substantiate its claim. Therefore, he pleaded to uphold the orders passed by the revenue authorities. 7. I have heard the ld. Departmental Representative and perused the material available on record. Considering the facts and circumstances of the case, I am inclined to set aside the order passed by the ld. CIT(Appeals) in order to meet the principle of natural justice, and remit the matter back to the file of ld. CIT(Appeals) with a direction to provide one more opportunity of being heard to the assessee. At the same breath, I also hereby caution the assessee to promptly co-operate with the proceedings before the Ld. CIT(Appeals) failing which the Ld. CIT(Appeals) shall be at liberty to pass appropriate order in accordance with law and merits based on the materials available on the record. Thus, the grounds raised by the assessee are allowed for statistical purposes. ITA No. 1854/KOL/2024 (A.Y. 2017-2018) Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited 4 8. In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open Court on 20/03/2025. Sd/- (Duvvuru RL Reddy) Vice-President (KZ) Kolkata, the 20th day of March, 2025 Copies to :(1) Kakdweep Union Coop Largesized Primary Agricultural Credit Society Limited, Kakdwip, Nayapar, Kakdwip, South 24-Parganas-743347, W.B. (2) Income Tax Officer, Ward-26(4), Kolkata, Aayakar Bhawan, Dhakuria, Kolkata-700031, West Bengal (3) Addl./JCIT(Appeals), Thiruvanantpuram; (4) CIT - ; (5) The Departmental Representative; (6) Guard File TRUE COPY By order Assistant Registrar, Income Tax Appellate Tribunal, Kolkata Benches, Kolkata Laha/Sr. P.S. "