SAHARA MINORITIES CREDIT CO OPERATIVE SOCIETY LTD,HUVINAHADAGALI V. INCOME TAX OFFICER, WARD-1 & TPS, HOSPET

ITA 1766/BANG/2024

AI Insights

The case involves Sahara Minorities Credit Co-operative Society Ltd., the appellant, contesting an order from the CIT(Appeals), National Faceless Appeal Centre, Delhi, for the assessment year 2018-19. The primary contention was that the CIT(Appeals) dismissed the appeal on procedural grounds without addressing the substantive issues raised by the assessee. The assessee, a credit cooperative society, argued that it was eligible for deductions under section 80P of the Income Tax Act, which was not considered by the CIT(Appeals). The tribunal found merit in the assessee's argument and remitted the case back for a fresh evaluation.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 24921 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-11-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 13-11-2024
• Assessment Year: 2018-2019
• Appeal Filed On: 15-09-2024
• Laws Referred To: Karnataka Cooperative Societies Act, 1959, Section 80P
• Result in Favour of: Matter Remanded
• Court: TRIBUNAL
• Assessee Lawyers: SUNAINA BHATIA
• Keywords: Opportunity of being heard

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI PRAKASH CHAND YADAV, JUDICIAL MEMBER ITA No.1766/Bang/2024 Assessment year : 2018-19 Sahara Minorities Credit Co-operative Society Ltd., 394/A, Building Construction Labour Sangha Complex, Huvina Hadagali – 583 219. Vijayanagara District. PAN : AAQAS 6253A Vs. The Income Tax Officer, Ward 1 & TPS, Hospet – 583 219. APPELLANT RESPONDENT Appellant by : Smt. Sunaina Bhatia, CA Respondent by : Ms. Neha Sahay, Jt.CIT(DR)(ITAT), Bengaluru. Date of hearing : 13.11.2024 Date of Pronouncement : 20.11.2024 O R D E R Per Laxmi Prasad Sahu, Accountant Member This appeal is filed by the assessee against the order dated 16.7.2024 of the CIT(Appeals), National Faceless Appeal Centre, Delhi [NFAC], for the AY 2018-19. 2. The sole ground raised by the assessee is that the ld. CIT(Appeals) has decided the appeal only on the premise that ground ITA No.1766/Bang/2024 Page 2 of 4 of appeal has not been filed by the assessee after reminding through notices and dismissed the appeal of the assessee. 3. The ld. Counsel submitted that while filing Form 35 at sl.no. 13, it was stated that grounds of Appeal is attached separately. However, the ld. CIT(A) has not decided on the issue raised by the assessee. The ld. Counsel further submitted that on 27.06.2024, it was again submitted before the CIT(A) that the facts and grounds of appeal which were submitted earlier, but the ld. CIT(A) did not consider. She submitted that as per paperbook page 8, the assessee forgot for writing Grounds of Appeal. It is mentioned as Description of the Issues which are as under:- 4. She requested that the matter may be sent back to ld. CIT(A) for fresh adjudication and the assessee has a good case and the assessee is a credit cooperative society registered under the Karnataka Cooperative Societies Act, 1959. Assessee is carrying on business of ITA No.1766/Bang/2024 Page 3 of 4 banking services to its members like accepting various types of deposits viz., Savings Accounts, Current Accounts, term/fixed deposits, recurring deposits and pigmy deposits and also providing credit facility or financial assistance to its members like long term loans, short term loans, loan against deposit, pigmy loan, building loan, mortgage loan, over drafts, vehicle loan and loan to employees and assessee is eligible for claim of deduction u/s. 80P. 5. The ld. DR relied on the order of lower authorities. 6. Considering the rival submissions, we note that the CIT(Appeals) has not decided the issue raised by the assessee as there was no attachment of separate grounds of appeal, instead it is mentioned as description of issues and it was again filed on 27.06.2024. Considering the facts of the case, we are remitting back to the file of ld. CIT(Appeals) for fresh consideration on the basis of description of issues as noted above. Needless to say that reasonable opportunity of being heard be given to the assessee. 7. In the result, the appeal is allowed for statistical purposes. Pronounced in the open court on this 20th day of November, 2024. Sd/- Sd/- ( PRAKASH CHAND YADAV ) ( LAXMI PRASAD SAHU ) JUDICIAL MEMBER ACCOUNTANT MEMBER Bangalore, Dated, the 20th November, 2024. /Desai S Murthy / ITA No.1766/Bang/2024 Page 4 of 4 Copy to: 1. Appellant 2. Respondent 3. Pr.CIT 4. CIT(A) 5. DR, ITAT, Bangalore. By order Assistant Registrar ITAT, Bangalore. "