What did the Tribunal hold?

The Tribunal has not yet decided the issue as the provided excerpt is incomplete. The judgment is ongoing, and the findings, reasoning, and operative directions are not available. Therefore, no principle can be extracted, and no issue has been expressly left undecided as the decision is pending.

The assessee, The Tiruchengode Co-operative Primary Agriculture and Rural Development Bank Limited, has filed an appeal against the order of the Assessing Officer (AO) for the assessment year 2016-17. The AO had made an addition to the assessee's income. The specific nature of the addition and the amount in dispute are not detailed in the provided excerpt. The appeal is before the Income Tax Appellate Tribunal (ITAT), Chennai Bench.

What were the issues?

1. Whether the addition made by the Assessing Officer to the income of the assessee is justified. The assessee's contention is not recorded in the provided excerpt. The revenue's contention is not recorded in the provided excerpt.

Ttcopagrd Bank Ltd., Tiruchengode vs ACIT | ITAT Chennai 2025

(िनधा(रण वष( / Assessment Year: 2016-17) The Tiruchengode Co-operative ACIT Primary Agriculture and Rural Circle-1 बनाम/ Development Bank Limited Namakkal. Street No.9, Door No.2, Vs. C H B Colony, Velur Road, Tiruchengodu-637 211. �थायीलेखासं./जीआइआरसं./PAN/TAN No. AAAAT-7969-G (अपीलाथ�/Appellant) : (��थ� / Respondent) अपीलाथ�कीओरसे/ Appellant by : S/Shri P.M. Kathir & G. Akash (Advocates) – Ld. ARs ��थ�कीओरसे/Respondent by : Ms. Anitha (Addl.CIT) -Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 02-01-2025 घोषणाकीतारीख /Date of Pronouncement : 02-01-2025 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2016-17 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 23-08-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) of the Act on 27-12-2018. Upon perusal of assessment order, it could be seen that the assessee failed to furnish the requisite replies to various queries as raised by Ld. AO on the issue of deduction u/s 80P. Accordingly, the deduction was denied and the expenditure was disallowed. The Ld. CIT(A) also confirmed the same for want of replies from the assesseee. Aggrieved, the assessee is in further appeal before us. The Ld.AR has pleaded for another opportunity of hearing before lower authorities which has been opposed by revenue.

Keeping in mind the principles of natural justice, we accept the prayer of Ld. AR. Accordingly, the assessment stand restored back to the file of Ld. AO with a direction to the assessee to substantiate its case. The Ld. AO shall frame assessment de novo.

The appeal stand allowed for statistical purposes.

Order pronounced in open court on 02nd January, 2025.

TTCOPAGRD BANK LTD.,TIRUCHENGODE vs. ACIT, CIRCLE-1,, NAMAKKAL

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