DISTRICT CO OPERATIVE BANK LIMITED,KANPUR NAGAR vs. CIT(A) NFAC, INCOME TAX DEPARTMENT, NFAC, DELHI

PER ANADEE NATH MISSHRA, A.M.

(A)
This appeal vide I.T.A. No.466/Lkw/2024 has been filed by the assessee for assessment year 2014-15 against impugned appellate order dated
14/05/2024
(DIN
&
Order
No.ITBA/NFAC/S/250/2024-
25/1064856514(1) of Commissioner of Income Tax (Appeals) [“CIT(A)” for short].

(B)
The facts of the case, in brief, are that the assessee filed its return of income on 30/09/2014 declaring total income at Rs.nil. The Assessing
Officer completed the assessment and passed assessment order under section 143(3) of the I.T. Act on 27/12/2016 and determined the total income of the assessee at Rs.1,45,88,299/- (rounded off to Rs.1,45,88,300) and made addition of Rs.1,69,422/- on account of disallowance of Appellant by Written submissions filed by Shri Sudhir
Tiwari, Advocate
Respondent by Shri S. H. Usmani, CIT (D.R.)

I.T.A. No.466/Lkw/2024
Assessment Year:2014-15
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depreciation and further addition of Rs.90,36,234/- on account of unexplained credit entries. Being aggrieved, the assessee carried the matter in appeal before the learned CIT(A). Vide impugned appellate order dated 14/05/2024. Now the assessee is in appeal before the Income Tax
Appellate Tribunal.

(C)
During the course of hearing none was present on behalf of assessee.
However, written submissions were filed from the assessee’s side. In absence of any representation from assessee’s side, learned Departmental
Representative was heard and written submissions of the assessee and other materials available on record were perused. The assessee has stated that the assessee did not get reasonable opportunity during assessment proceedings before the Assessing Officer and during appellate proceedings before the learned CIT(A). It has been requested that the disputed additions be restored back to the file of the Assessing Officer for passing fresh order. Learned Departmental Representative did not express any objection to this and left the matter to the discretion of the Bench. In view of the foregoing, the issue in disputes are remitted back to the file of the Assessing Officer with the direction to pass fresh assessment order in accordance with law after providing reasonable opportunity to the assessee.

(D)
In the result, the appeal of the assessee stands allowed for statistical purposes.

(Order pronounced in the open court on 04/12/2025) . .
(SUBHASH MALGURIA) (ANADEE NATH MISSHRA)
Judicial Member Accountant Member

Dated:04/12/2025
*Singh

I.T.A. No.466/Lkw/2024
Assessment Year:2014-15
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Copy of the order forwarded to :
1. The Appellant
2. The Respondent.
3. Concerned CIT
4. D.R., I.T.A.T., Lucknow