BELVE VYAVASAYA SEVA SAHAKARI SANGHA LIMITED,UDUPI vs. INCOME TAX OFFICER, WARD-1, , UDUPI
Income Tax Appellate Tribunal, “C’’BENCH: BANGALORE
Before: SHRI WASEEM AHMED & SHRI KESHAV DUBEY
PER KESHAV DUBEY, JUDICIAL MEMBER:
These appeals at the instance of the assessee are directed against the orders of ld. CIT(A) / NFAC, both dated 30.05.2024
passed for the Assessment Year (in short “AY”) 2020-21 under section 250 of the Income Tax Act, 1961 (in short “The Act”). Since the outcome of the penalty appeal for the AY 2020-21 in ITA No.
1441/Bang/2024 depends upon the outcome of the quantum appeal for the AY 2020-21 filed by the assessee in ITA No.
1440/Bang/2024, they are clubbed together, heard together and disposed of by a consolidated order.
The assessee has raised the following grounds of appeal:
ITA No.1440 & 1441/Bang/2024
BelveVyavasaya Seva Sahakari Sangha Ltd Udupi
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There is a short delay of four days in filing both the appeals before this Tribunal. Before us, the ld. AR of the assessee submitted that since the date of service of the order was on 03.06.2024, the present appeal ought to have been filed on or before 02.08.2024. The 3rd and 4th of August being weekends therefore, the effective delay are only two days which is due to the fact of remote location of the assessee. Considering the fact that it is a case of short delay of just four days (with 2 days of weekends in between), we hereby condone the short delay and proceed to decide the matter in the interest of justice.
Brief facts of the case are that the Assessee is a Primary Agricultural Credit Society registered under the provisions of Karnataka Co-operative Societies Act, 1959 and is in the business of providing credit facilities to its members for their agriculture related activities, selling of fertilizers, manure and PDS distribution and other allied activities as permitted under its Bye-laws duly approved by the