SATE BANK OF INDIA OFFICERS MULTI PURPOSE CO-OPERATIVE SOCIETY ORISSA LIMITED,CUTTACK V. INCOME TAX OFFICER, WARD-1(1), CUTTACK

ITA 18/CTK/2026

AI Insights

The case involves the State Bank of India Officers Multipurpose Co-operative Society Orissa Ltd, which appealed against the penalty imposed by the Income Tax Officer, Ward 1(1), Cuttack, following the order of the CIT(A), NFAC, Delhi. The penalty was initially based on the quantum addition for the Assessment Year 2019-20, which had been set aside by the Tribunal in a previous order, restoring it to the Assessing Officer for re-adjudication. The Tribunal found that since the quantum assessment was set aside, the basis for the penalty under Section 270A of the Income Tax Act no longer existed, leading to the deletion of the penalty.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 841349 (ITAT-CUTTACK)
• Duration Of Justice: 1 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-02-2026
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Assessment Year: 2019-2020
• Appeal Filed On: 07-01-2026
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Condonation of delay; Set aside

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER ITA No. 18/CTK/2026 (Assessment Year: 2019-20) State Bank of India Officers Multipurpose Co-operative Society Orissa Ltd, At SBI Cuttack Branch Building, Collectorate campus, Chandinichowk, Cutack-753002 (Odisha) PAN No. AAMAS 7099 E Vs. I.T.O., Ward 1(1), Cuttack. Appellant/ Assessee Respondent/ Revenue Assessee represented by Shri K.K. Bal, A.R. Department represented by Shri Sanjib Banerjee, Sr.DR Date of hearing 23/02/2026 Date of pronouncement 23/02/2026 O R D E R PER: BENCH 1. This is an appeal filed by the assessee against the order of the ld. CIT(A), NFAC, Delhi in Appeal No. NFAC/2018-19/10457128 dated 06/11/2025 for the A.Y. 2019-20. 2. Shri K.K. Bal, ld. A.R. appeared on behalf of the assessee and Shri Sanjib Banerjee, Sr.DR represented on behalf of the revenue. 3. The appeal of the assessee is delayed by 02 days. In this regard, the assessee has filed an application for condonation of delay stating therein sufficient reasons for delay in filing the appeal before the Tribunal, which are not found to be false. Ld. Sr. DR did not object to condone the delay. Accordingly, we condone the delay of 02 days in Printed from counselvise.com ITA No. 18/Ctk/2026 SBI Officers Multipurpose Co-op Society Vs ITO 2 filing the appeal before the Tribunal and appeal of the assessee is admitted for hearing. 4. It was submitted by the ld. AR that the quantum addition for the A.Y. 2019- 20 in ITA No. 543/Ctk/2025 by an order dated 04/12/2025 has been restored by the Tribunal to the file of the Assessing Officer for readjudication afresh. It was the submission that consequently, the very legs on which this penalty has been levied, no more survives. 5. In reply, the ld. Sr.DR submitted that the liberty should be granted to the Assessing Officer to initiate penalty proceedings if so required in the set aside proceedings. 6. We have considered the rival submissions. As it is noticed that the quantum assessment order has been set aside, the foundation for the levy of penalty under Section 270A of the Income Tax Act, 1961 (in short, the Act) no more survives. Consequently, the penalty as levied under Section 270A of the Act by the Assessing Officer and as confirmed by the ld. CIT(A) stands deleted. However, liberty is granted to the Assessing Officer to initiate fresh penalty proceedings in the set aside of the quantum matter if so required. 7. In the result, appeal of the assessee is partly allowed. Order dictated and pronounced in the open court on 23/02/2026. Sd/- Sd/- (MADHUSUDAN SAWDIA) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER Ranchi, Dated: 23/02/2026 *Ranjan Copy to: 1. Assessee 2. Revenue Printed from counselvise.com ITA No. 18/Ctk/2026 SBI Officers Multipurpose Co-op Society Vs ITO 3 3. CIT(A) 4. CIT 5. DR 6. Guard File By Order Assistant Registrar, ITAT, Cuttack Printed from counselvise.com "