THE RATNAKAR BANK EMPLOYEES CO-OP CREDIT SOCIETY LTD,NEW SHAHUPURI, KOLHAPUR vs. INCOME TAX OFFICER, KOLHAPUR
आयकर अपीलीय अधिकरण ”बी” न्यायपीठ पुणेमें।
IN THE INCOME TAX APPELLATE TRIBUNAL
PUNE BENCHES “B” :: PUNE
DR.DIPAK P. RIPOTE, ACCOUNTANT MEMBER
AND SHRI VINAY BHAMORE, JUDICIAL MEMBER
आयकर अपऩल सं. / ITA No.1753/PUN/2025
निर्धारण वषा / Assessment Year: 2022-23
The Ratnakar Bank Employees
Coo Op Credit Society Limited,
C.S.No.332-C,
E-Ward,
Swanand Complex, 1st Floor, F-
6, New Shahupuri Kolhapur,
Kolhapur- 416001. V s
The Income Tax Officer,
Ward-2(1), Kolhapur.
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 :
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“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 :
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.
In the result, appeal of the assessee is allowed. Order pronounced in the open Court on 26 September, 2025. VINAY BHAMORE
Dr.DIPAK P. RIPOTE
JUDICIAL MEMBER
ACCOUNTANT MEMBER
पपणे / Pune; ददिधंक / Dated : 26 Sep, 2025/ SGR
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आदेशकीप्रनिनलनपअग्रेनषि / Copy of the Order forwarded to :
1. अपऩलधर्थी / The Appellant.
2. प्रत्यर्थी / The Respondent.
3. The CIT(A), concerned.
4. The Pr. CIT, concerned.
5. नवभधगऩयप्रनिनिनर्, आयकर अपऩलऩय अनर्करण, “बऩ” बेंच, पपणे / DR,
ITAT, “B” Bench, Pune.
गधर्ाफ़धइल / Guard File. आदेशधिपसधर / BY ORDER,
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Senior Private Secretary
आयकर अपऩलऩय अनर्करण, पपणे/ITAT, Pune.
ITA No.1753/PUN/2025 [A]
S.
No Details
Date
Initi als
Designati on 1
Draft dictated on 25.09.2025
Sr. PS/PS
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Final Draft placed before author
25.09.2025
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Draft proposed & placed before the Second Member
.09.2025
JM/AM
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Draft discussed/approved by Second Member
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Approved Draft comes to the Sr. PS/PS
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Kept for pronouncement on Sr. PS/PS
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Date of uploading of Order
Sr. PS/PS
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File sent to Bench Clerk
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Date on which the file goes to the Head Clerk
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Date on which file goes to the A.R.
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Date of Dispatch of order