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Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL,
Before: MANISH AGARWAL
IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE BEFORE SHRI GEORGE MATHAN, JUDICIAL JUDICIAL MEMBER AND MANISH AGARWAL MANISH AGARWAL, ACCOUNTANT MEMBER , ACCOUNTANT MEMBER ITA No.370/CTK/2023 Assessment Year : 2014-15
Bhawanipatna Bhawanipatna Central Co- Vs. DY. . Commissioner Commissioner of of operative operative Bank Bank Ltd., Ltd., Income Income Tax, Tax, Circle-2(1), Mahavirpada, Mahavirpada, Sambalpur Sambalpur Bhawanipatna, Bhawanipatna, Dist: Dist: Kalahandi PAN/GIR No PAN/GIR No.AAAAT 3481 F (Appellant (Appellant) .. ( Respondent Respondent) Assessee by : Shri Pradyumna Kumar Sahoo, Adv Pradyumna Kumar Sahoo, Adv Revenue by : Shri Charan Dass, ld Sr. : Shri Charan Dass, ld Sr. DR Date of Hearing : 11/0 06/2024 Date of Pronouncement : 11/0 /06/2024 O R D E R Per Bench
This is an appeal filed by the assessee against the order of the ld This is an appeal filed by the assessee against the order of the ld This is an appeal filed by the assessee against the order of the ld CIT(A), A), NFAC, NFAC, Delhi Delhi dated dated 4.7.2023 in in Appeal Appeal No. No.CIT(A), Sambalpur/10370/2016 Sambalpur/10370/2016-17 for the assessment year 2018 2018-19.
Shri Pradyumna Kumar Sahoo, Pradyumna Kumar Sahoo, ld AR appeared for d AR appeared for the assessee and filed an adjournment petition, stating that as the Chief Financial Officer, filed an adjournment petition, stating that as the Chief Financial Officer, filed an adjournment petition, stating that as the Chief Financial Officer, who looks after the taxation/case matter has retired in the recent past and who looks after the taxation/case matter has retired in the recent past and who looks after the taxation/case matter has retired in the recent past and
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new incumbent who joined recently is yet to equip with the subject matter and, therefore, requested for adjourning the case. A perusal of the impugned order, we observe that the ld CIT(A) has dismissed the appeal due to non compliance of notice issued to the assessee. Therefore, we reject the adjournment petition and dispose of the appeal. Shri Charan Dass, ld Sr. DR appeared for the revenue.
The appeal is time barred by 109 days. The assessee has filed condonation petition supported by affidavit, stating that the incumbent who looks after the taxation matter of the appellant bank including the CEO joined in the month of May, 2023 and June, 2023 and thereafter take initiative to file appeal before the Tribunal. There was no other intention not to file the appeal within the time. After considering the condonation petition, we find that the explanation given in the petition is a plausible one and, we condone the delay of 109 days in filing the appeal.
We have considered the submissions of ld Sr. D.R. A perusal of the order of the ld CIT(A) clearly shows that the ld CIT(A) has given several opportunities to the assessee but the assessee has not responded to the same. It was in this backdrop that the ld CIT(A) has dismissed the appeal for want of prosecution. In the grounds of appeal, it is stated by the assessee that after allowing the benefit provided to the Co-operative Societies under section 36(1)(viia) still a huge amount remains as closing balance which can be carried forward for adjustment against income for the P a g e 2 | 3
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subsequent year. It was the submission that the brought forward loss for an amount of Rs.5,77,56,027/- is allowable to the assessee. Moreover, the assessee has not responded to the notices issued by the ld CIT(A) to substantiate the above claim before him. In view of above, in the interest of justice, the issues are restored to the file of the ld CIT(A) to redecide the issue after allowing reasonable opportunity of being heard to the assessee.
In the result, appeal of the assessee stands partly allowed for statistical purposes.
Order dictated and pronounced in the open court on 11/06/2024.
Sd/- sd/- (Manish Agarwal) (George Mathan) ACCOUNTANT MEMBER JUDICIAL MEMBER Cuttack; Dated 11/06/2024 B.K.Parida, SPS (OS) Copy of the Order forwarded to : 1. The Appellant : Bhawanipatna Central Co- operative Bank Ltd., Mahavirpada, Bhawanipatna, Dist: Kalahandi 2. The Respondent: Asst. Commissioner of Income Tax, Range-1, Sambalpur 3. The CIT(A)- NFAC, Delhi 4. Pr.CIT, Sambalpur 5. DR, ITAT, 6. Guard file. //True Copy// By order
Sr.Pvt.secretary ITAT, Cuttack
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