JAUGRAM GOPALPUR SKUS LTD.,BARDHAMAN vs. I.T.O.,WARD-1(3), BURDWAN
Before: Shri Duvvuru RL Reddy, Vice-(KZ)
The present appeal is directed at the instance of assessee against the order of ld. Commissioner of Income Tax (Appeals),
National Faceless Appeal Centre (NFAC), Delhi dated 13th
September, 2024 passed for Assessment Year 2017-18. Jaugram Gopalpur Skus Limited
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Brief facts of the case are that the assessee is a Cooperative Society and filed its return of income for the assessment year 2017-18 declaring total income as ‘NIL’. The return was selected for scrutiny. During the scrutiny proceedings, ld. Assessing Officer denied the exemption claimed by the assessee under section 80P(2) of the Act. The ld. Assessing Officer also denied the claim of deduction of Rs.1,97,027/- under the head ‘provision for NPA’. The ld. Assessing Officer also made an addition of Rs.26,04,000/-, which was deposited in ICICI Bank during demonetization period by treating the said amount as unexplained money under section 69A of the Act.
On being aggrieved by the order of ld. Assessing Officer, the assessee preferred an appeal before the ld. CIT(Appeals).
After considering the written submission filed by the assessee, the ld. CIT(Appeals) dismissed the appeal of the assessee saying that “in absence of correct status of appellant and absence of audit by