KEEZHUPARAMBA SERVICE CO-OPERATIVE BANK LIMITED,MALAPPURAM vs. ITO WARD 2, TIRUR

ITA 567/COCH/2025Status: DisposedITAT Cochin22 September 2025AY 2020-21Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal noted that the CIT(A)'s finding of a lack of documents was contrary to the record, as documents were submitted to the Assessing Officer. The Tribunal found merit in the assessee's submission that the addition was made on incorrect facts by clubbing share capital and deposits. Due to conflicting submissions regarding document submission and the interest of justice, the issue was remanded to the Assessing Officer for a fresh adjudication.

What were the facts?

The assessee, a co-operative society, filed returns for Assessment Years 2020-2021 and 2022-2023, claiming deduction under Section 80P. The Assessing Officer selected the case for scrutiny due to a substantial increase in capital, which was treated as an unexplained cash credit. The CIT(A) dismissed the appeal, citing a lack of essential documents.

What were the issues?

Whether the addition on account of unexplained cash credit was justified, and whether the assessee is entitled to deduction under Section 80P.

Which sections of the Income-tax Act were involved?

Section 250,Section 143(3),Section 2,Section 80P,Section 144B,Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “DB” BENCH, COCHIN

[ Per Rahul Chaudhary, Judicial Member:

1.

These are to appeals preferred by the same Assessee pertaining to Assessment Years 2020-2021 and 2022-2023. Since the appeals involved identical issue, the same were heard together and are being disposed off by way of a common order

ITA No.568/COCH/2025 [AY:2022-2023]

2.

We would first take up appeal pertaining to the Assessment Year 2022-2023 preferred by the Assessee against the Order, dated 10/06/2025, passed by the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘the CIT(A)’] under Section 250 of ITA No.567 & 568/Coch/2025 Assessment Year 2020-2021 & 2022-23 the I

The order continues below.

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