NCDC COOPERATIVE CREDIT SOCIETY,KOLKATA vs. ITO, WARD-35(2), KOLKATA

The appeal is barred by limitation period of 33 days in whereas in 12 days. The assessee has filed separate applications for condonation delay. Considering the submissions made in the applications as well as the shortness of the delay, the delay in ITA No.594-596/Kol/2020 A.Ys.16-17 &17-18 NCDC Staff Co-Op. Credit Society Vs. ITO Wd-35(2), Kol. Page 2 filing these appeals is hereby condoned. Cases are now taken up for adjudication on merits.

On merits, the Ld. counsel for the assessee has submitted that the sole issue raised by the assessee in both the appeals is as to whether the deduction out of salary of the employees is to be treated as income of the assessee or not. However, the Ld. DR has brought my attention to the assessment order to submit that no such plea was raised by the assessee before the Assessing Officer. That before the Assessing Officer it was submitted that the amount in question was out of miscellaneous receipts earned from the non-members by the assessee-society. The Ld. counsel for the assessee at this stage has submitted that certain inadvertent mistake has happened while making the submissions before the Assessing Officer. However, the factual position was narrated before the Ld. CIT(A), but, the Ld. CIT(A) has failed to consider the submissions of the assessee. The Ld. counsel for the assessee has submitted that the matter be remitted to the Assessing Officer for verification of the accounts to get the true and correct factual position in this respect. The Ld. DR has not objected to the same. Accordingly, matter in both the appeals is restored to the file of the Assessing Officer. The assessee will demonstrate before the Assessing Officer the nature of the receipts in question and the Assessing Officer after determining the nature of receipts will decide the issue in accordance with law. Needless to say that the Assessing Officer will give adequate opportunity of hearing to the assessee.