S109 POONIMANGADU PRIMARY AGRICULTURE COOPERATIVE CREDIT SOCIETY,TIRUVALLUR V. ITD, WARD 1, TIRUVALLUR, TIRUVALLUR

ITA 2437/CHNY/2024

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The case involves the Poonimangadu Primary Agriculture Cooperative Credit Society, which appealed against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi. The appeal was directed against an exparte order for the assessment year 2018-19, which challenged the disallowance of a deduction under Chapter VI-A, section 80P of the Income Tax Act, 1961. The Assessing Officer had initially disallowed the deduction due to the non-filing of a valid return of income within the prescribed due date. The Tribunal found that the assessee was not given sufficient opportunity to present its case and thus remanded the matter for fresh consideration.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 107558 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2024
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Next Hearing Date: 21-11-2024
• Assessment Year: misc
• Appeal Filed On: 18-09-2024
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: R.ANITA
• Assessee Lawyers: B.SURESH
• Section: 147; 148; 139(1); 80P

Judgement Text

"आयकर अपीलीय अिधकरण, ’सी’ Ɋायपीठ, चेɄई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI ŵी एस.एस. िवʷनेũ रिव, Ɋाियक सद˟ एवं ŵी अिमताभ शुƑा, लेखा सद˟ क े समƗ Before Shri S.S. Viswanethra Ravi, Judicial Member & Shri Amitabh Shukla, Accountant Member आयकर अपील सं./I.T.A. No.2437/Chny/2024 िनधाŊरण वषŊ/Assessment Year: 2018-19 S 109 Poonimangadu Primary Agriculture Cooperative Credit Society, Poonimangadu Village and Post, Tiruthani Taluk, Tiruvallur 631 212. [PAN: AAGAS9416B] Vs. The Income Tax Officer, Ward 1, Tiruvallur. (अपीलाथŎ/Appellant) (ŮȑथŎ/Respondent) अपीलाथŎ की ओर से / Appellant by : Shri B. Suresh, CA ŮȑथŎ की ओर से/Respondent by : Ms. R. Anita, Addl. CIT सुनवाई की तारीख/ Date of hearing : 21.11.2024 घोषणा की तारीख /Date of Pronouncement : 27.11.2024 आदेश /O R D E R PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order dated 09.08.2024 passed by the ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre [NFAC], Delhi for the assessment year 2018-19 challenging exparte order of the ld. CIT(A). 2. At the outset, we note that the Assessing Officer received information that the assessee had deposited cash of ₹.1,00,000/- and made cash withdrawal of ₹.1,64,08,000/- from its bank accounts and I.T.A. No.2437/Chny/24 2 the assessee has not filed return of income for the assessment year 2018-19. Accordingly, the Assessing Officer issued notice under section 148 of the Income Tax Act, 1961 [“Act” in short]. The assessee filed return of income on 12.04.2022 along with copy of bye-law, trading and P&L account, details of cash withdrawn from bank and copy of the return of income. Since the return of income filed by the assessee was pending for e-verification, the Assessing Officer held no valid return of income for AY 2018-19 filed in response to the notice under section 148 of the Act dated 31.03.2022 and disallowed the claim of deduction made under Chapter VI-A under section 80P of the Act vide order dated 26.03.2023 under section 147 r.w.s. 144 of the Act. The ld. CIT(A) confirmed the same. 3. The ld. AR Shri B. Suresh, CA drew our attention to para 5 of the impugned order and vehemently argued that the ld. CIT(A) issued notice on 09.07.2024 and reminder letter dated 22.07.2024 and also a show cause notice on 30.07.2024 without giving sufficient interval and prayed to afford an opportunity to the assessee 4. The ld. DR Ms. R. Anita, Addl. CIT relied on the order of the ld. CIT(A). I.T.A. No.2437/Chny/24 3 5. After hearing both the parties, we find the Assessing Officer made addition by disallowing the claim of deduction under section 80P of the Act for reason that no return of income was filed by the assessee within the due date as prescribed under section 139(1) of the Act. On perusal of the impugned order, we find that no opportunity for filing of submissions along with necessary documents in support of grounds raised by the assessee. Under the above facts and circumstances of the case, taking into consideration of the submissions of the ld. AR and the ld. DR and in the interest of justice, we deem it proper to remand the matter to the file of the ld. CIT(A) for fresh consideration. The assessee is at liberty to file written submissions along with evidences, if any, before the ld. CIT(A). Thus, grounds raised by the assessee are allowed for statistical purposes. 6. In the result, the appeal filed by the assessee is allowed for statistical purposes. Order pronounced on 27th November, 2024 at Chennai. Sd/- Sd/- (AMITABH SHUKLA) ACCOUNTANT MEMBER (S.S. VISWANETHRA RAVI) JUDICIAL MEMBER Chennai, Dated, 27.11.2024 I.T.A. No.2437/Chny/24 4 Vm/- आदेश की Ůितिलिप अŤेिषत/Copy to: 1. अपीलाथŎ/Appellant, 2.ŮȑथŎ/ Respondent, 3. आयकर आयुƅ/CIT, Chennai/Madurai/Coimbatore/Salem 4. िवभागीय Ůितिनिध/DR & 5. गाडŊ फाईल/GF. "