THE BANK OF TOKYO-MITSUBISHI LIMITED,KOLKATA vs. ADIT, INT. TAX., KOLKATA

ITA 2558/KOL/2002Status: DisposedITAT Kolkata19 March 2025AY 1999-2000Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)6 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the CIT(A) erred in concluding that the assessee failed to provide details, as evidence of e-filing a reply was presented. The matter was restored to the CIT(A) for fresh adjudication.

What were the facts?

The assessee, a primary agricultural credit society, claimed deductions under Section 80P. The Assessing Officer made additions for disallowable expenses and provisions already added by the assessee. The CIT(A) confirmed an addition of Rs. 49,23,000 under Section 69A for cash deposits during demonetization, despite the assessee providing details.

What were the issues?

Whether the CIT(A) correctly confirmed the addition under Section 69A without considering the assessee's submitted explanations and evidence regarding demonetization cash deposits.

Which sections of the Income-tax Act were involved?

Section 80P,Section 69A

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Income Tax Appellate Tribunal, “C” BENCH, KOLKATA

Before: SHRI GEORGE MATHAN & SHRI RAKESH MISHRA

Hearing: 19/05/2025Pronounced: 19/05/2025

Per Bench : This is an appeal filed by the assessee against the order dated 17.10.2024, passed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi in DIN & Order No.ITBA/NFAC/S/250/2024- 25/1069736644(1) for the assessment year 2017-2018. 2. Shri Shyamadas Bandyopadhyay, FCA appeared on behalf of the assessee. Shri Bonnie Debbarma, Sr. DR appeared on behalf of the revenue.

3.

At the time of hearing, ld. AR has filed his written submissions which are as under :- Your appellant is a Primary

The order continues below.

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