THE RATNAKAR BANK EMPLOYEES CO-OP CREDIT SOCIETY LTD,NEW SHAHUPURI, KOLHAPUR vs. INCOME TAX OFFICER, KOLHAPUR

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ITA 1753/PUN/2025Status: DisposedITAT Pune26 September 2025AY 2022-23Bench: or at the time of hearing.” Findings & Analysis : 2. We have heard both the parties and perused the records. For this penalty appeal, the ITAT Pune Bench has already decided the quantum appeal i.e.ITA No.1725/PUN/2025 vide order dated 19.09.2025 in favour of Assessee, therefore, the penalty is not maintainable. Accordingly, grounds of appeal raised by the assessee are allowed. 3. In the result, appeal of the assessee is allowed. Order pronounced in the open Court on 26 September, 2025. VINA1 pages

AI SummaryAllowed

Facts

The assessee filed an appeal against the order of the CIT(A) NFAC, which confirmed the AO's action of levying penalty under section 270A for A.Y. 2022-23. This penalty was imposed due to the denial of deduction under section 80P on interest earned by the appellant society.

Held

The Tribunal noted that the quantum appeal concerning the same issue (ITA No.1725/PUN/2025) had already been decided in favour of the assessee. Therefore, the penalty levied is not maintainable.

Key Issues

Whether penalty under section 270A is maintainable when the quantum appeal on the same addition has been decided in favour of the assessee.

Sections Cited

250, 270A, 80P

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCHES “B” :: PUNE

For Appellant: Shri Pramod S Shingte – AR

For Respondent: Shri Aviyogi Ambadkar – Addl.CIT(DR)

Hearing: 09/09/2025Pronounced: 26/09/2025

Assessment Year: 2022-23 The Ratnakar Bank Employees V The Income Tax Officer, Coo Op Credit Society Limited, s Ward-2(1), Kolhapur. C.S.No.332-C, E-Ward, Swanand Complex, 1st Floor, F- 6, New Shahupuri Kolhapur, Kolhapur- 416001. PAN: AABTT1418L Appellant/ Assessee Respondent / Revenue Assessee by Shri Pramod S Shingte – AR Revenue by Shri Aviyogi Ambadkar – Addl.CIT(DR) Date of hearing 09/09/2025 Date of pronouncement 26/09/2025 आदेश/ ORDER

PER DR. DIPAK P. RIPOTE, AM:

This appeal filed by the assessee against the order of ld.Commissioner of Income Tax Appeal(NFAC) passed under section 250 of the Income Tax Act, 1961 for A.Y.2022-23 dated 07.07.2025 emanating from the Penalty Order under section 270A of the Income Tax Act, 1961, dated 20.08.2024. The Grounds of appeal raised by the Assessee are as under :

[A] “1. On the facts and circumstances of the case and in law the CIT(A), NFAC erred in confirming the action of the AO of levying penalty on the addition to income on account of denial of deduction u/s 80P in respect interest earned by the appellant society on deposits with other co-operative banks, not accepting the submission of the appellant in this respect.

The appellant prays that the AO be directed to delete the penalty.

The appellant craves leave to add, amend, alter, modify, delete or add a new ground of appeal before or at the time of hearing.”

Findings & Analysis : 2. We have heard both the parties and perused the records. For this penalty appeal, the ITAT Pune Bench has already decided the quantum appeal i.e.ITA No.1725/PUN/2025 vide order dated 19.09.2025 in favour of Assessee, therefore, the penalty is not maintainable. Accordingly, grounds of appeal raised by the assessee are allowed.