THE NANIGIDASAN MILK PRODUCER COOPERATIVE SOCIETY LIMITED,BANASKANTHA vs. THE ITO, WARD-1, PALANPUR

That the Ld. CIT(A) erred in law and in the facts of the case in confirming the order of the AO in reopening assessment u/s.147 of the Act.

That the Ld. CIT(A) erred in law and in the facts of the case in confirming the order of the AO in making addition of Rs.88,42,640/- u/s.69A of the Act.

On going through the record, we find that notices under section 250 of the Act were issued on 01.06.2023, 07.06.2023, 15.06.2023, 05.07.2023, and 09.08.2023, requesting the assessee to furnish requisite details/clarifications/explanations regarding the source of cash deposits. In pursuance thereof, the assessee failed to submit any submissions/documents. Accordingly, the Ld. CIT(A) confirmed the action of the Assessing Officer, and the appeal of the assessee was dismissed. We also find that the assessee even failed to submit any details/supporting evidence to prove the source of the cash deposits before the Assessing Officer. The Ld. Counsel for the assessee prayed that, given an opportunity, all the details/clarifications/explanations would be furnished before the revenue authorities. Hence, in the interest of justice, the matter is remanded to the Assessing Officer for conducting the assessment de novo, and a cost of Rs. 5,000/- is imposed on the assessee. The said amount shall be deposited into the “Prime Minister’s Relief Fund,” and the receipt thereof shall be submitted before the JAO, who shall take it on record before passing the order giving effect to the order of the ITAT. The assessee is directed to submit all relevant bank statements/submissions/documents before the The Nanigidasan Milk Producer Co-operative Soc. Ltd. Vs. ITO Asst. Year : 2015-16 - 3– Assessing Officer and comply with the notices issued by the revenue authorities without seeking any unnecessary adjournments.

In the result, the appeal filed by the assessee is allowed for statistical purposes.