PERUCHETTIPALAYAM PACCS,COIMBATORE vs. ITO, NCW-4(1), COIMBATORE
आयकर अपीलीय अिधकरण, ‘बी’ यायपीठ, चे ई।
IN THE INCOME TAX APPELLATE TRIBUNAL
‘B’ BENCH: CHENNAI
ी एबी टी. वक
, ाियक सद एवं
एवं
एवं
एवं
ी जगदीश, लेखा सद के सम
BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER
आयकर अपील सं./ITA No.3256/Chny/2024
िनधारणवष/Assessment Year: 2018-19
Perurchettipalayam PACCS,
177, Arumugagoundanur Perur
Chettipalayam,
Coimbatore-641 010. v.
The ITO,
NCW-4(1),
Coimbatore.
[PAN: AABAP 3228 M]
(अपीलाथ/Appellant)
(यथ/Respondent)
अपीलाथ क ओर से/ Appellant by :
Ms.S. Mathangi, Advocate
(by virtual)
यथ क ओर से /Respondent by :
Ms.Gouthami Manivasagam,
JCIT
सुनवाईकतारीख/Date of Hearing
:
10.03.2025
घोषणाकतारीख /Date of Pronouncement
:
29.04.2025
आदेश / O R D E R
PER ABY T. VARKEY, JM:
This is an appeal preferred by the assessee against the order of the Learned Commissioner of Income Tax (Appeals)/NFAC, (hereinafter referred to as “the Ld.CIT(A)”), Delhi, dated 18.11.2024 for the Assessment Year (hereinafter referred to as "AY”) 2018-19 confirming the penalty levied by the AO u/s.271B of the Income Tax Act, 1961
(hereinafter referred to as "the Act”) by levying an amount of Rs.1.50
lakhs as penalty.
Perurchettipalayam PACCS
:: 2 ::
The brief facts are that the assessee is noted to be a Primary Agricultural Co-operative Credit Society, governed by the provisions of the Tamil Nadu Co-operative Societies Act, 1983; and objects of the Society is, inter-alia, noted to provide credit facility to the members of the society; and all the Co-operative Societies like assessee in the state of Tamil Nadu are subject to audit as provided under the Tamil Nadu Cooperative Societies Act, 1983; and the Auditors are appointed by the Director of Cooperative Audit/