NEPTUNE CO OP HOUSING SOCIETY LIMITED,MUMBAI vs. ITO WARD 41(4)(3), MUMBAI

PER VIKRAM SINGH YADAV, A.M :

This is an appeal filed by the assessee against the order of the Ld.
Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre
(NFAC), Delhi [„Ld.CIT(A)‟], dated 31-12-2024, pertaining to Assessment
Year (AY) 2020-21, wherein the assessee has taken the following grounds of appeal:
“1. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in dismissing the appeal filed by the Appellant

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before the learned CIT(A) against the order dated 31.12.2024 under section 154 of the Act passed by the learned Assistant Director of Income- tax, CPC Bengaluru (hereinafter referred to as "learned AO")
2. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in appreciating that the adjustment made in the intimation dated 23.12.2021 issued by the learned AO under section 143(1) of the Act is beyond the scope contemplated by the said section 143(1) of the Act and contrary to the provisions of the Act.
3. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in holding that the Appellant is not entitled to deduction of interest to the tune of Rs 574,743 being deduction claimed under section 80P of the Act by the Appellant in the return of income filed for previous year relevant to Assessment Year 2020-21, in respect of interest income on deposits made with co-operative banks.”