PRIMARY AGRICULTURAL CREDIT CO-OP SOCIETY LTD.,MADENUR, HASSAN TALUK AND DISTRICT vs ITO, WARD-1 & TPS, HASSAN

Income Tax Appellate Tribunal, ‘A’ BENCH : BANGALORE

Before: SHRI PRASHANT MAHARISHI, VICE – & SHRI SOUNDARARAJAN K.

For Appellant: Shri Mahesh R Uppin, Advocate

For Respondent: Shri Balusamy N, JCIT-DR

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.

PRIMARY AGRICULTURAL CREDIT CO-OP SOCIETY LTD.,MADENUR, HASSAN TALUK AND DISTRICT vs. ITO, WARD-1 & TPS, HASSAN