THE THOOTHUKUDI DISTRICT CENTRAL CO-OP BANK LTD.,TUTICORIN V. ITO, TDS WARD, TIRUNELVELI

ITA 1337/CHNY/2025

AI Insights

The case involves The Thoothukudi District \\u2013 Central Co-op. Bank Ltd., which appealed against the order of the Learned Commissioner of Income Tax (Appeal), Kochi, for the Assessment Year 2020-21. The appeal was related to a tax liability and interest charge determined by the Assessing Officer following a survey under section 133A(2A) of the Income Tax Act, 1961. The survey revealed cash payments exceeding Rs. 1 crore, prompting scrutiny under Section 194N of the Act. The CIT(A) had dismissed the initial appeal due to the absence of a response from the assessee, leading to this appeal before the Income Tax Appellate Tribunal.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 711421 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-07-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Assessment Year: 2020-2021
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: GAUTHAMI MANIVASAGAM
• Assessee Lawyers: S. GIRISH KUMAR
• Keywords: Set aside; Corroborative evidences; TDS

Judgement Text

"आयकर अपीलीय अिधकरण, ‘बी’ ᭠यायपीठ, चे᳖ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI ŵी मनु क ुमार िगįर, Ɋाियक सद˟ एवं ŵी जगदीश, लेखा सद˟ क े समƗ BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1337/Chny/2025 िनधाᭅरण वषᭅ/Assessment Year: 2020-21 The Thoothukudi District – Central Co-op. Bank Ltd., 109/5, Ettayapuram Road, Polpettai, Tuticorin Central Bus Stand S.O., Indra Nagar, Tuticorin-628 002. v. The ITO, TDS Ward, Tirunelveli. [PAN: AAATT 3499 A] (अपीलाथᱮ/Appellant) (ᮧ᭜यथᱮ/Respondent) अपीलाथᱮ कᳱ ओर से/ Appellant by : Mr.S. Girish Kumar, Advocate ᮧ᭜यथᱮ कᳱ ओर से /Respondent by : Mr. Gauthami Manivasagam, JCIT सुनवाईकᳱतारीख/Date of Hearing : 15.07.2025 घोषणाकᳱतारीख /Date of Pronouncement : 21.07.2025 आदेश / O R D E R PER MANU KUMAR GIRI, JM: This is an appeal preferred by the assessee against the order of the Learned Commissioner of Income Tax (Appeal)/Addl./JCIT (A), (hereinafter in short ‘the Ld.CIT(A)’), Kochi, dated 21.03.2025 for the Assessment Year (hereinafter in short ‘AY’) 2020-21. 2. The brief facts of the case are that the assessee is a district level Co-operative engaged in business of banking. A Survey u/s.133A (2A) of Printed from counselvise.com ITA No.1337/Chny/2025 (AY 2020-21) The Thoothukudi District Central Co-op. Bank Ltd. :: 2 :: Income tax Act, 1961 (hereinafter referred to as ‘the Act‘) was conducted at the business premises on 28.2.2020. During the course of survey, details of payments made by the assessee in cash in aggregate of such sum in excess of Rs.1 crore during the previous year 2019-20 was called for to ascertain whether the assessee has complied with the provisions of Section 194N of the Act. A show cause notice was issued. The AO has not considered the facts detailed in the reply of show cause notice and determined the Tax liability of Rs.1,33,37,687/- and had also charged interest u/s.201(1a) of Rs.6,00,196/-. However, the Ld. CIT(A) dismissed the appeal of the assessee as there was no response from the assessee. 3. Aggrieved, assessee is in appeal before us. 4. Before us also, the Ld. Counsel submitted that while adjudicating the matter the Ld. CIT(A) has not properly served. He further pleaded that for one more opportunity to file the evidence before the CIT(A). The Ld. Addl. CIT-DR pleaded for dismissal of the appeal on the ground that the assessee has not filed supporting evidences with regard to the addition before the Ld. CIT(A). 5. We have gone through the orders of lower authorities and submission addressed by the Ld.DR. We are of the considered view that in the interest of justice assessee should be given one more opportunity before Ld.CIT(A) to file all relevant evidences/documents to prosecute his Printed from counselvise.com ITA No.1337/Chny/2025 (AY 2020-21) The Thoothukudi District Central Co-op. Bank Ltd. :: 3 :: case. Therefore, in the light of aforesaid factual position we deem it fit to set aside this appeal to the file of Ld.CIT(A) for de novo adjudication of appeal. The Ld.CIT(A) who shall proceed for de novo adjudication of appeal after providing proper opportunity of hearing to the assessee. The assessee is directed to substantiate its case forthwith without fail, failing which, the Ld.CIT(A) shall be at liberty to proceed with the appellate proceedings as per law. 6. In the result, appeal filed by the assessee is allowed for statistical purpose. Order pronounced on the 21st day of July, 2025, in Chennai. Sd/- (जगदीश) (JAGADISH) लेखा सद᭭य/ACCOUNTANT MEMBER Sd/- (मनु क ुमार िगįर) (MANU KUMAR GIRI) ᭠याियक सद᭭य/JUDICIAL MEMBER चे᳖ई/Chennai, ᳰदनांक/Dated: 21st July, 2025. TLN, Sr.PS 1. अपीलाथŎ/Appellant 2. ŮȑथŎ/Respondent 3. आयकरआयुƅ/CIT, Chennai / Madurai / Salem / Coimbatore. 4. िवभागीयŮितिनिध/DR 5. गाडŊफाईल/GF Printed from counselvise.com "