JALMAYUR COOP HSG SOC LTD,LAXMI VILAS vs. CIT (APPEAL), PRIMAL CHEMBER

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J(SMC)”, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER ITA No.2677/Mum/2026 (Assessment year: 2022-23)

Jalmayur Coop HSG Soc. Ltd. vs CIT(A), Mumbai 87A Laxmi Vilas, Nepeansea Piramal Chambers, Mumbai- Road, Mumbai-400006 400012 PAN:AAAAJ3383N APPELLANT RESPONDENT Assessee by : None Revenue by : Dr. Sumit Jha (Sr.DR) Date of hearing : 24/06/2026 Date of pronouncement : 29/06/2026 O R D E R Per:Anikesh Banerjee (JM): The instant appeal of the assessee filed against the order of the Ld. Commissioner of Income Tax(Appeals)-ADDL/JCIT(A)-1,Visakhapatnam [for brevity the “Ld. CIT(A)”], order passed under section 250 of the Income Tax Act 1961 (for brevity ‘the Act’) for Assessment Year 2022-23, date of order 26.11.2025. The impugned order emanated from the order of the CPC Bengaluru (for brevity the ‘Ld. AO’) order passed under section 154 of the Act date of order 26.10.2023.

2 ITA No.2677/Mum/2026 Jalmayur Coop HSG Soc Ltd. 2. When the appeal was called for hearing, none appeared on behalf of the assessee. The Bench had earlier granted an opportunity and adjourned the matter to today in response to the request letter dated 04.05.2026 filed by Shri Pawan Kumar Chaudhary, Chartered Accountant, seeking time to prosecute the appeal before the Bench. However, despite the grant of such opportunity, neither did anyone appear on behalf of the assessee nor was any adjournment application filed. Accordingly, after considering the material available on record, we proceed to dispose of the appeal ex parte qua the assessee, after hearing the submissions of the Ld. DR. 3. The registry informed that the appeal filed by the assessee was delayed by 34 days. The assessee has filed a notarized affidavit in support of the condonation petition duly sworn on 28.04.2026 by Mr. Milan Chokshi, the Secretary of the assessee Society and explained the delay for filing appeal before the Bench. Upon consideration of submission made in the affidavit, we are satisfied that there existed sufficient cause preventing the assessee from filing the appeal within the prescribed period of limitation. Accordingly, the delay of 34 days is condoned and the Ld. DR had not made any strong objection related to the assessee’s submission for condonation of delay. Accordingly, the appeal is admitted for adjudication. 4. We heard the submission of the Ld. DR and perused the material available on record. The assessee filed the return u/sec. 139(1) by declaring the total income nil. The return was processed and demand was raised Rs.2,39,570/- as computed the total income Rs.9,21,670/-. The Ld. AO rejected the assessee’s claim u/sec. 80P(2)(d) related to the interest income from investment in

3 ITA No.2677/Mum/2026 Jalmayur Coop HSG Soc Ltd. Cooperative Banks/Societies. The assessee filed a rectification petition before the Ld. AO against the order u/sec. 143(1) of the Act. The assessee is a cooperative society and formed under the Maharashtra State Cooperative Act, 1960 and activities are adhered to the MSC Act. In rectification application, the Ld. AO rejected the assessee’s claim. Being aggrieved assessee filed an appeal before Ld. CIT(A) with delay of 634 days. The Ld. CIT(A) rejected the appeal of the assessee without considering the merit of the case on the ground of limine. Being aggrieved assessee filed an appeal before us. 5. During the first appellate proceeding the assessee had submitted the petition for condonation of delay related to filing appeal in delay for 634 days. Finally, the assessee submitted the notarized affidavit before the Bench and explained the delay. We find that the facts duly stated in the assessee’s “Facts of the case” which is related to claim of deduction u/sec. 80P(2)(d) of the Act for the interest earned from the investment from Cooperative Bank/Society. But the Ld. CIT(A) without allowing the reasonable opportunity rejected the appeal of the assessee without considering the merit of the case. We find that the reasonable opportunity of the assessee was denied. Considering the facts and circumstances of the case and in interest of substantial justice, we deem it appropriate to restore the matter to the file of Ld. CIT(A). The assessee is directed to file the affidavit along with an appropriate application seeking condonation of delay before the Ld. CIT(A). Accordingly, the Ld. CIT(A) is directed to consider the assessee’s application for condonation of delay in accordance with law in lenient approach and passed a reasoned and speaking order after affording a reasonable opportunity of being heard to the assessee. We make it clear that we have not expressed any opinion on merit of the additions involved in the case, and the Ld.

4 ITA No.2677/Mum/2026 Jalmayur Coop HSG Soc Ltd. CIT(A) shall adjudicate the matter independently and uninfluenced by any observations contained herein. Needless to state that the assessee shall be afforded a reasonable opportunity of hearing in the set aside appellate proceeding and shall be permitted to place all relevant documents and evidence on record. At the same time, the assessee is directed to remain diligent and full cooperative to ensure the expeditious dispense of appeal. Accordingly, the appeal is restored to the file of Ld. CIT(A) have fresh adjudication in accordance with law. 6. In the result, the appeal of the assessee bearing ITA No.2677/Mum/2026 is allowed for statistical purpose. Order pronounced in the open court on 29th day of June 2026. Sd/- Sd/- (OM PRAKASH KANT) (ANIKESH BANERJEE) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai,िदनांक/Dated: 29/06/2026 SAUMYASr.PS Copy of the Order forwarded to: 1. अपीलाथ�/The Appellant , 2. �ितवादी/ The Respondent. 3. आयकरआयु� CIT 4. िवभागीय�ितिनिध, आय.अपी.अिध., मुंबई/DR, ITAT, Mumbai 5. गाड�फाइल/Guard file. BY ORDER, //True Copy// (Asstt. Registrar), ITAT, MUMBAI