JANTA CO OPERATIVE CREDIT LIMITED,CHAPORA vs. INCOME TAX OFFICER, BURHANPUR

Per Dr. Manish Borad, AM: This appeal by the assesse is directed against the order dated 29.06.2024 of the Commissioner of Income Tax (Appeals), New Delhi for A.Y.2017-18 which is arising from the assessment order u/s 143(3) of the Act dated 26.09.2019 framed by Income Tax Officer, Burhanpur. 2. Assessee has raised following grounds of appeal: Janta Co Operative Credit Limited 2 “1. The learned CIT (A) failed to understand the facts and 1 circumstances of the case and erred in confirming the unlawful assessment order passed by the assessing officer. 2. The learned CIT (A) failed to understand that the assessing officer initiated the reassessment proceedings u/s 147/148 of the Act, during the pendency of ongoing regular assessment proceedings, which is void and bad in law. 3. The learned CIT (A) failed to understand that the assessment order passed by the learned AO was void and bad in law as the same was claimed to have been passed in continuation of the original proceedings initiated vide notice dated 14.03.2018 u/s 142(1) of the Act, but such proceedings are still alive on the ITBA portal and the order is showing to be passed in continuation of proceedings initiated u/s 148 of the Act, which is bed in law and on facts. 4. The learned AO has failed to conclude the proceedings-initiated u/s 148 of the Act and to communicate such fact to the appellant before passing alleged order in 4 continuation of the assessment proceedings initiated vide notice dated 14.03.2018 u/s 142(1) of the Act and therefore the assessment order passed by the learned AO is void and bad in law. 5. The learned CIT (A) failed to provide reasonable opportunity of being heard and present his case to the appellant. 6. The learned CIT (A) has failed to appreciate that the cash deposited in the bank account of the appellant is fully explained and erred in confirming the genuine transactions of the appellant as undisclosed cash credits u/s 68 of the Act and further erred in confirming the application of provisions of section 115BBE of the Act, which is bad in in law and on facts. 7. The learned CIT (A) failed to understand that the appellant society is maintain regular books of accounts, erred in 7 confirming the unlawful and illogical rejection of books of account w/s 145(3) of the Act by the assessing officer, which in bad in law and on facts. 8. The Learned AO has failed to understand that the appellant society is being run for the benefits of poor villagers and is being administered by the governing body, most of which 8 are not well educated and do not understand the complexed provisions of Income tax law, erred in not appreciating the genuine transactions of the society and treating the same as unlawful, which is bad in law. Janta Co Operative Credit Limited 3 9. The Learned AO has failed to understand the facts of the case and erred in confirming the baseless and unlawful disallowance of interest expenses of the appellant, which is quite unjust”. 3. Registry has informed that there is delay of 183 days in filing the appeal before this Tribunal. Ld. Counsel for the assessee referring to the affidavit stated that the tenure of the elected board of director of the society expired on 26.03.2023 and the Dy.