INCOME-TAX OFFICER - 2(2), BAREILLY, BAREILLY vs. SAHAKARI GANNA VIKAS SAMITI LIMTED FARIDPUR, FARIDPUR, BAREILLY

ITA 763/LKW/2024Status: DisposedITAT Lucknow25 May 20264 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the Revenue's appeal was not maintainable due to low tax effect, which was below the CBDT prescribed limit. Therefore, the appeal was dismissed on this technical ground.

What were the facts?

The Assessing Officer (AO) added back Rs. 65,82,762 to the assessee's income under Section 68 and disallowed deduction under Section 80P on interest income from nationalized banks. The CIT(A) allowed the assessee's appeal, relying on previous orders.

What were the issues?

Whether the Revenue's appeal is maintainable due to low tax effect. The merits of the addition under Section 68 and disallowance under Section 80P were not adjudicated.

Which sections of the Income-tax Act were involved?

Section 68,Section 80P,Section 115BBE

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW ‘A’ BENCH, LUCKNOW

Hearing: 17.03.2026Pronounced: 25.05.2026

PER NIKHIL CHOUDHARY, A.M.: This is an appeal filed by the Revenue against the order of the Addl JCIT(A)-4, Mumbai passed under section 250 of the Income Tax Act on 14.11.2024, wherein the ld. First Appellate Authority has allowed the appeals of the assessee against the assessment order passed under section143(3) of the Income Tax Act by the Assessment Unit of the Department. The grounds of appeal are as under: - “1. The Ld. Addi/JCIT(A) has erred in law and on facts of the case by deleting the addition of Rs. 6582762 u/s 68 of the Income tax 1 Act 1961 made by AO after conducting proper enquiry who has made the addition after recording detailed reasons for doing so in length in the order itself.

2.

The Ld. AddI/JCIT(A) has erred in law and on fact

The order continues below.

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