SHRI GADAIDEVI GRAMIN SAHKARI PATSANSTHA MARAYDIT KOLOLI,KOLHAPUR vs. INCOME TAX OFFICER, KOLHAPUR

1 ITA No. 2980/PUN/2025 A.Y. 2015-16 Shri Gadaidevi Gramin Sahkari Patsanstha Maraydit

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “B” BENCH PUNE BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER I T A. No.2980/PUN/2025 (A.Y. 2015-16) Shri Gadaidevi Gramin Income Tax Office, Sahkari Patsanstha Maraydit Ward 2(1), Kololi, Vs. Aaykar Bhavan, A P Kotoli Tal, Panhala, Kolhapur-416003, Kolhapur-416230, Maharashtra. Maharashtra. PAN .No. AALAS3025R (अपीलार्/Appellant) (प् र्/Respondent)

Assessee by Shri.Pramod S Shingte. AR Revenue by Shri.VindoPawar.Addl.CIT(Virtual)DR सुनवाईकीतारीख/Date of Hearing 27.04.2026 घोषणाकीतारीख/Date of Pronouncement 28.04.2026 ORDER PER PAVAN KUMAR GADALE, JM: The appeal is filed by the assessee against the order of CIT(A)/ NFAC passed u/sec 147 r.w.s. 144B and u/sec250 of the Income Tax Act. The assessee has raised the grounds of appeal challenging the order of the CIT (A) sustaining the addition u/sec 69A and u/sec 69 of the Act made by the Assessing Officer.

2 ITA No. 2980/PUN/2025 A.Y. 2015-16 Shri Gadaidevi Gramin Sahkari Patsanstha Maraydit 2. The brief facts of the case are that, the assessee is a primary co-operative credit society registered under Maharashtra State Co-operative Societies Act and is engaged in providing credit facilities to its members. The Assessing Officer (AO) based on the information from ITBA data found that the assessee has made cash deposits in various bank accounts maintained and also time deposits with the banks in the F.Y. 2014-15 and the assessee has not filed return of income. The AO has reason to believe that the income has escaped assessment and has issued notice u/sec 148 of the Act. In compliance, the assessee has filed the return of income on 17.03.2023 disclosing total income of Rs. Nil after claiming deduction u/sec 80P of the Act. Further notice u/sec 143(2) and u/sec142(1) of the Act are issued and there was partial compliance.The AO observed that the assessee has made cash deposits aggregating to Rs. 65,61,000/- in bank accounts and similarly made time deposits in three Cooperative Banks aggregating to Rs. 53,97,0752/- in the FY 2014-15 and the explanations were called for to substantiate the sources of cash/time deposits. The Assessee has filed the submissions on 18.01.2023 explaining that the said amounts were collected from the members who have obtained the credit facilities and financial transactions. Whereas the AO considering the facts and details of the banks statements and information filed by the assessee was not satisfied with the explanations and has dealt on the provisions and observed that the assessee has not filed any documentary evidence to substantiate the sources of cash deposits and time deposits and made addition of unexplained

3 ITA No. 2980/PUN/2025 A.Y. 2015-16 Shri Gadaidevi Gramin Sahkari Patsanstha Maraydit cash deposits u/sec69A of the Act of Rs. 2,03,15,061/- and similarly unexplained cash time deposits u/sec69 of the Act of Rs.53,97,072/- and assessed the total income of Rs. 2,57,12,133/- and passed the order u/sec 147 r.w.s. 144B of the Act dated 24.03.2023. 3. Aggrieved by the order, the assessee has filed the appeal with the CIT(A). Whereas the CIT(A) has considered grounds of appeal, statements of facts and findings of the AO and has issued notices of hearing and the assessee has made partial compliance to the notices. The CIT(A) has dealt on the submissions and observed that assessee has failed to substantiate with the documentary evidences in respect of sources of cash deposits and has confirmed the action of the AO and dismissed the assessee appeal. Aggrieved by the order of the CIT(A), the assessee has filed the appeal before the Hon’ble Tribunal. 4. At the time of hearing, the Ld. AR submitted that CIT(A) has erred in confirming the action of the AO overlooking the facts and submissions filed in the proceedings. Further the assessee has good case on merits and substantiated with material evidence before the lower authorities and supported the submissions with factual paper book. Per contra, the Ld. AR supported the order of the CIT(A). 5. We heard the rival submissions and perused the material available on record. Prima facie, the CIT(A) has passed the order considering the facts that there is no proper compliance in spite

4 ITA No. 2980/PUN/2025 A.Y. 2015-16 Shri Gadaidevi Gramin Sahkari Patsanstha Maraydit of providing adequate opportunity of hearing and assessee has not discharged the burden of proof of the cash deposits in the bank accounts and also the time deposits made in the Co- operative Banks. The Ld. AR submitted that assessee has filed written submissions, bank statements, cashbook and details of cash deposits in the re-assessment proceeding u/sec 147 through the ITBA proceedings and the AO has overlooked the material evidences and made addition of cash deposits and time deposits and the Ld.AR relied on material information filed in the paper book. Hence, we considering the facts, circumstances, submissions and principles of natural justice, shall provide with one more opportunity of hearing to the assessee to substantiate the case with evidences and information. Accordingly, we set aside the order of the CIT(A) and remit the disputed issue for limited purpose to the file of the Assessing Officer to examine the evidences and adjudicate afresh on merits and the assesse should be provided adequate opportunity of hearing and shall cooperate in submitting the information . And, we allow the grounds of appeal of the assesse for statistical purpose. 6. In the result, the appeal filed by the assessee is allowed for statistical purpose. Order pronounced in the open court on. 28.04.2026. Sd/- Sd/- MANISH BORAD PAVAN KUMAR GADALE (ACCOUNTANT MEMBER) (JUDICIAL MEMBER)

5 ITA No. 2980/PUN/2025 A.Y. 2015-16 Shri Gadaidevi Gramin Sahkari Patsanstha Maraydit Pune, Dated: 28/04/2026 Abhishek

Copy of the Order forwarded to: 1. The Appellant, 2. The Respondent 3. The CIT(A) 4. DR, ITAT, “B” Bench, Pune. 5. Guard file. //True Copy// BY ORDER, (Asstt. Registrar)ITAT, Pune