THE SATARA ZILLA KRISHI BANK KARMACHARI SAHAKARI PATSANSTHA LTD,SATARA V. ACIT, SATARA, CIR-SATARA, SATARA

ITA 2154/PUN/2025

AI Insights

The case involves The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd., a cooperative society, appealing against a penalty imposed under section 270A of the Income Tax Act, 1961, by the Income Tax Officer, Ward-2, Satara. The penalty was based on a quantum addition made during the assessment for the Assessment Year 2018-19, which was later contested. The Tribunal had previously deleted this quantum addition, leading to the current appeal to remove the penalty, which was successfully argued by the assessee's counsel.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 828600 (ITAT-PUNE)
• Duration Of Justice: 3 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Pune
• Assessment Year: misc
• Appeal Filed On: 17-09-2025
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AVIYOGI AMBADKAR
• Assessee Lawyers: RENUKA ARUNRAO GHATGE
• Keywords: Set aside
• Section: 143(3)

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “B” BENCH : PUNE BEFORE DR. MANISH BORAD, ACCOUNTANT MEMBER & MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.No.2154/PUN/2025 (Assessment Year 2018-2019) The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd., Ajinkya Complex, 512, Ch. Shivaji Road, Camp, Sadar Bazar, Satara, Maharashtra PAN : AAAAT 1502 B vs. ITO, Ward-2, Satara. (Appellant) (Respondent) For Assessee : Ms. Renuka Arunrao Ghatge, CA For Revenue : Shri Aviyogi Ambadkar, Addl.CIT Date of Hearing : 12.01.2026 Date of Pronouncement : 13.01.2026 ORDER PER : MANISH BORAD, AM This appeal at the instance of the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi [“CIT(A)”] dated 15.07.2025 passed under section 250 of the Income Tax Act, 1961 (“Act”) which is arising out of order passed u/s. 270A of the Act, dated 24.01.2022 for the Assessment Year (AY) 2018-19. Printed from counselvise.com 2 ITA.No.2154/PUN/2025 (The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd.) 2. At the outset, learned counsel for the assessee submitted the impugned penalty u/s. 270A of the Act deserves to be deleted, as the quantum addition has been deleted by this Hon'ble Tribunal vide ITA No.2153/PUN/2025, dated 13.11.2025 for A.Y. 2018-19. 3. On the other hand, Ld. Departmental Representative (DR) failed to controvert the contentions made by the learned counsel for the assessee. 4. We have heard rival contentions and perused the records placed before us. We note that the assessee is a cooperative society and assessment u/s. 143(3) of the Act was concluded for A.Y. 2018-19 for assessing income at ₹36,04,316/- as against the returned income of ₹1,72,050/-. Against the addition of ₹36,32,266/-, Ld.AO initiated penalty proceedings u/s. 270A of the Act which was finally concluded on 24.01.2022 levying penalty of ₹ 5,30,287/-. We observe that levy of penalty is dependent on the quantum addition. We note that the addition of ₹ 36,32,266/- made by the Ld.AO has finally been deleted by this Tribunal vide order dated 13.11.2025 in ITA No. 2153/PUN/2025 and the assessee’s claim of deduction u/s. 80P(2)(d) has been allowed. Since the very basis of levy of penalty that the addition itself stands deleted by this Tribunal, there remains no legs to stand for the impugned penalty. We therefore set aside the impugned order Printed from counselvise.com 3 ITA.No.2154/PUN/2025 (The Satara Zilla Krishi Bank Karmachari Sahakari Patsanstha Ltd.) and delete the alleged penalty levied u/s. 270A of the Act and allow the grounds of appeal raised by the assessee. 5. In the result, appeal of the Assessee is allowed. Order pronounced in the open Court on 13.01.2026 Sd/- Sd/- [ASTHA CHANDRA] [MANISH BORAD] JUDICIAL MEMBER ACCOUNTANT MEMBER Pune, Dated 13th January, 2026 vr/- Copy to 1. The appellant 2. The respondent 3. The Ld. PCIT concerned. 4. D.R. ITAT, “B” Bench, Pune. 5. Guard File. By Order //True Copy // Assistant Registrar, ITAT, Pune. Printed from counselvise.com "