PRIMARY AGRICULTURAL CREDIT CO-OP SOCIETY LTD.,MADENUR, HASSAN TALUK AND DISTRICT vs. ITO, WARD-1 & TPS, HASSAN
What did the Tribunal hold?
The assessee withdrew the appeal, citing that they have challenged the impugned orders before the Hon'ble Karnataka High Court. The Ld. DR had no objection to the withdrawal.
What were the facts?
The assessee filed an appeal with a delay of over a year against an order of the NFAC. The assessment was reopened as per Section 147, and the AO treated deposits as unexplained money under Section 69A, not allowing deduction under Section 80P.
What were the issues?
Whether the appeal should be dismissed as withdrawn by the assessee.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, ‘A’ BENCH : BANGALORE
Before: SHRI PRASHANT MAHARISHI, VICE – & SHRI SOUNDARARAJAN K.
ORDER PER SOUNDARARAJAN K., JUDICIAL MEMBER
This is an appeal filed by the assessee challenging the order of the NFAC, Delhi dated 08/12/2024 in respect of the A.Y. 2018-19.
The present appeal has been filed by the assessee with a delay of 1 year and 12 days and also enclosed an application to condone the said delay.
The brief facts of the case are that the assessee had not filed its return of income even though their books of accounts were audited by the Audit
Page 2 of Wing of the Registrar of Co-operative Societies. Based on the deposits, the assessment was reopened u/s. 147 of the Act and the assessment was made. The AO had treated the deposits as unexplained money u/s. 69A of the Act. The AO not accepted that the assessee is a co-operative society eligible for deduction u/s. 80P of the Act. Against the said order, the assessee filed an appeal before this Tribunal with the above said delay of 1 year and 12 days.
At the time of hearing, the assessee filed a letter for withdrawing the appeal filed by them which is dated 06/03/2026. In the said memo, the assessee had submitted that they have challenged the impugned orders before the Hon’ble Karnataka High Court, Bangalore in W.P. No. 7492/2026(T-IT) as the reason for withdrawing the present appeal.
The Ld.DR has no objection for withdrawing the said appeal.
Recording the said letter dated 06/03/2026 and the submission made by the Ld.AR, we are dismissing the appeal as withdrawn.
In the result, the appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court on 09th March, 2026.
More judgments on Section 147
- ACIT Central Bilaspur, Bilaspur vs Arun Kumar Agrawal, SaktiITSSA 26/RPR/2025[2018-19]Status: Disposed21 Oct 2026AY 2018-19
- Vinod Agrawal, Kawardha vs Assisstant Commissioner of Income Tax…ITA 666/RPR/2026[2019-20]Status: Heard21 Oct 2026AY 2019-20
- Sar Business Tradelink Private Limited… vs Income Tax Officer, Ward - 1(2), RaipurITA 599/RPR/2026[2014-15]Status: Heard21 Oct 2026AY 2014-15
- Tarunaben Maganlal Bhut, Navagam vs ITO Ward 2(2)(1), RajkotITA 673/RJT/2026[2024-25]Status: Disposed21 Oct 2026AY 2024-25
- Neo Incorporation, Rajkot vs DCIT Circle- 1(2), RajkotITA 471/RJT/2026[2012-2013]Status: Disposed21 Oct 2026AY 2012-2013
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