S 6955 BALAJANMANAHALLI PRIMARY AGRI CO-OP. CREDIT SOCIETY LTD.,DHARMAPURI V. DCIT, CIRCLE-1, SALEM

ITA 2076/CHNY/2024

AI Insights

The case involves the Balajangamanahalli Primary Agri Co-Op Credit Society Ltd, which appealed against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi. The appeal arose from the assessment year 2020-2021, where the assessee, a Primary Agri Co-Op Credit Society, filed a return showing a loss from business and profession but income from other sources, resulting in a declared nil income after claiming deductions under Chapter VIA. The Assessing Officer, due to non-response from the assessee, assessed the income significantly higher. The CIT(A) dismissed the appeal on merits as the assessee failed to appear despite multiple notices. The Income Tax Appellate Tribunal in Chennai, after reviewing the submissions and the circumstances, decided to set aside the case to the Assessing Officer for a fresh assessment, emphasizing the need for a fair opportunity for the assessee to present its case.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 29254 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-10-2024
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 21-10-2024
• Assessment Year: 2020-2021
• Appeal Filed On: 05-08-2024
• Laws Referred To: Income Tax Act
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: ASHWIN D. GOWDA; IRS
• Keywords: Set aside

Judgement Text

" आयकर अपीलीय अिधकरण ‘ए’’ Ɋायपीठ चेɄई मŐ। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI माननीय ŵी मनोज क ुमार अŤवाल ,लेखा सद˟ एवं माननीय ŵी मनु क ुमार िगįर, Ɋाियक सद˟ क े समƗ। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER AND HON’BLE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER आयकरअपील सं./ ITA No.2076/Chny/2024 (िनधाŊरणवषŊ / Assessment Year: 2020-2021) S 6955 Balajangamanahalli Primary Agri Co-Op Credit Society Ltd 6/86, Balajanmanahalli Post, Nallampalli Taluk, Dharmapuri Dist. 636 807 [PAN: ABLAS 9441A] Vs. The Deputy Commissioner of Income Tax, Circle 1, Salem. (अपीलाथȸ/Appellant) (Ĥ×यथȸ/Respondent) अपीलाथȸ कȧ ओर से/ Appellant by : None Ĥ×यथȸ कȧ ओर से /Respondent by : Shri Ashwin D. Gowda, IRS, Addl. CIT. सुनवाई कȧ तारȣख/Date of Hearing : 21.10.2024 घोषणा कȧ तारȣख /Date of Pronouncement : 23.10.2024 आदेश / O R D E R PER MANU KUMAR GIRI (Judicial Member) This appeal by the assessee is arising out of the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi in order No.ITBA/NFAC/S/250/2024-25/1065404351(1) dated 05.06.2024 for assessment year 2020-2021. 2. Brief facts of the case are that assessee is a Primary Agri Co-Op Credit Society Ltd. The case of the assessee was taken up for Limited Scrutiny. This is 2 ITA No. 2076 /Chny/2024 the first year, the assessee society has filed return of income and no audit report has been filed by the assessee. From the perusal of Return of Income for the year under consideration, it was seen that the assessee has shown Income from Business & Profession at loss (-) Rs. 90,81,896/- and Income from Other Sources at Rs. 1,23,69,622/-. After setting of the loss against the Income from Other Sources, the assessee has shown Income at Rs. 32,87,726/-, against which deduction under Chapter VIA u/s.80P(2)(a) (i) of the Act as per Schedule Chapter VIA has been claimed by the assessee at Rs.32,87,726/- and thus the return has been filed at Nil Income. Ld. Assessing Officer has issued several notices, however there was no response from assessee. Hence, ld. Assessing Officer assessed the income of the assessee at Rs.1,23,69,620/-. 3. Aggrieved assessee preferred an appeal before the ld.CIT(A), who dismissed the appeal of assessee on merits, although assessee failed to appear before the ld.CIT(A) despite five notices. Assessee is in further appeal before us. 4. Before us also, none appeared on behalf of the assessee. The Ld. Addl. CIT- DR pleaded for dismissal of the appeal on the ground that the assessee failed to appear before the Assessing Officer as well as before the ld. first appellate authority. 5. We have gone through the orders of lower authorities and submissions addressed by the ld. DR before us. We are of the considered view that in the 3 ITA No. 2076 /Chny/2024 interest of justice assessee should be given one more opportunity before the Assessing Officer to prosecute his case. Therefore, in the light of aforesaid factual position we deem it fit to set aside this appeal to the file of Assessing Officer for denovo adjudication of appeal. The Assessing Officer who shall proceed for denovo adjudication of appeal after providing proper opportunity of hearing to the assessee. The assessee is directed to substantiate its case forthwith without any fail, failing which Assessing Officer shall be at liberty to proceed with the assessment as per law. 6. In the result, appeal filed by the assessee is allowed for statistical purpose. Order pronounced in the open court on 23rd day of October, 2024 at Chennai. Sd/- Sd/- (मनोज क ुमार अŤवाल) (मनु क ुमार िगįर) (MANOJ KUMAR AGGARWAL) लेखा सद˟ / ACCOUNTANT MEMBER (MANU KUMAR GIRI) Ɋाियक सद˟ / JUDICIAL MEMBER चेɄई Chennai: िदनांक Dated : 23-10-2024 KV आदेश कȧ ĤǓतͧलͪप अĒेͪषत /Copy to : 1. अपीलाथŎ/Appellant 2. ŮȑथŎ/Respondent 3. आयकरआयुƅ/CIT, Chennai/Coimbatore/Madurai/Salem. 4. िवभागीयŮितिनिध/DR 5. गाडŊफाईल/GF "