INCOME TAX OFFICER, INCOME TAX DEPARTMENT vs. REGULATED MARKET COMMITTEE, ATTABIRA, ATTABIRA

आयकर अऩीऱीय अधधकरण, कटक न्यायऩीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK (THROUGH VIRTUAL HEARING) BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER आयकर अऩीऱ सं/ITA No.285/CTK/2023 (ननधाारण वषा / Assessment Year : 2018-2019) ITO, Bargarh Vs Regulated Market Committee, Attabira, Attabira, Bargarh-768027 PAN No. :AACAR 4813 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : Shri Sudam Panigrahi, Accountant of assessee-committee राजस्व की ओर से /Revenue by : Shri Abani Kanta Nayak, CIT-DR सुनवाई की तारीख / Date of Hearing : 28/11/2023 घोषणा की तारीख/Date of Pronouncement : 28/11/2023 आदेश / O R D E R Per Bench : This is an appeal filed by the revenue against the order of the ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, dated 28.07.2023, passed in ITBA/NFAC/S/250/2022-23/1054708362(1) for the assessment year 2018-2019. 2. At the time of hearing, Shri Sudam Panigrahi, Accountant of the assessee-committee submitted an adjournment application, which was taken back by him. Subsequently, an adjournment application from the Secretary of the assessee through post addressing to the Members, ITAT Cuttack, was received after the order was pronounced in the open court and, thus, the same is not taken into consideration. 3. It was the submission that the ld. CIT-DR that the assessment in the case of the assessee came to be completed u/s.147 r.w.s144

2 ITA No.285/CTK/2023 r.w.s144B of the Act on 01.03.2023, wherein the AO had made addition representing the fresh time deposit as unexplained investment. Further the interest received on the said fresh time deposit was also treated as unexplained money. It was submitted that addition has been made as the assessee has not responded to the notice issued by the AO. It was the submission that on appeal, the ld. CIT(A) had deleted the additions by holding that the income of the assessee was exempt u/s.10(26AAB) of the Act as the assessee is an agricultural produce market committee constituted under Orissa Agricultural Produce Market Act, 1956 for the purpose of regulating the marketing of agricultural produce. It was the submission that the order of the ld. CIT(A) is liable to be reversed and that of the AO be restored. 4. In reply, Shri Sudam Panigrahi, the accountant of the assessee committee vehemently supported the order of the ld. CIT(A). 5. We have considered the rival submissions. A perusal of the order of the ld. CIT(A) clearly shows that the ld. CIT(A) has considered the facts that the assessee is an agricultural produce market committee constituted under Orissa Agricultural Produce Market Act, 1956 for the purpose of regulating the marketing of agricultural produce and in view of the same, the income of the assessee is eligible for exemption u/s.10(26AAB) of the Act. This finding of the ld. CIT(A) has not been dislodged by the revenue. Further, admittedly, the ld. CIT(A) has taken into consideration the fact that the assessee was facing technical glitches in responding to the notices issued by the AO along with supporting documents to the

3 ITA No.285/CTK/2023 Jurisdictional AO on 24.11.2023 and this has been recognized in para 14 of the order of the ld. CIT(A). This finding also has not been dislodged by the revenue. As it is noticed that the ld. CIT(A) has considered all the facts and the said facts as such having been found by the ld. CIT(A), which have not been controverted by the revenue, we, therefore, do not find any interference in the said findings recorded by the ld. CIT(A). Accordingly, we uphold the same. 6. In the result, appeal of the revenue is dismissed. Order dictated and pronounced in the open court on 28/11/2023. Sd/- Sd/- (GIRISH AGRAWAL) (GEORGE MATHAN) ऱेखा सदस्य/ ACCOUNTANT MEMBER न्यानयक सदस्य / JUDICIAL MEMBER कटक Cuttack; ददनाांक Dated 28/11/2023 Prakash Kumar Mishra, Sr.P.S. आदेश की प्रनतलऱपऩ अग्रेपषत/Copy of the Order forwarded to : अऩीऱाथी / The Appellant- 1. ITO, Bargarh प्रत्यथी / The Respondent- 2. Regulated Market Committee, Attabira, Attabira, Bargarh-768027 आयकर आयुक्त(अऩीऱ) / The CIT(A), 3. आयकर आयुक्त / CIT 4. ववभागीय प्रतततनधध, आयकर अऩीऱीय अधधकरण, कटक / DR, 5. ITAT, Cuttack गार्ड पाईऱ / Guard file. 6. आदेशानुसार/ BY ORDER, सत्यावऩत प्रतत //True Copy//

(Assistant Registrar) आयकर अऩीऱीय अधधकरण, कटक/ITAT, Cuttack