KOONAMMOOCHI PEOPLES SERVICE CO-OP BANK LTD,THRISSUR vs. THE ITO WARD 2(1), THRISSUR

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ITA 541/COCH/2023Status: DisposedITAT Cochin23 October 2024AY 2020-21Bench: Shri Satbeer Singh Godara (Judicial Member), Shri Amarjit Singh (Accountant Member)2 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The assessee's counsel requested to withdraw the appeal with liberty to file a rectification application. The Revenue did not object to this request.

What were the facts?

The assessee, a Co-operative Bank, appealed against an order related to its Section 80P deduction claim for AY 2020-21. The assessee also filed a stay petition.

What were the issues?

The primary issue was the assessee's claim for Section 80P deduction. The appeal was withdrawn before the tribunal could adjudicate on the merits.

Which sections of the Income-tax Act were involved?

Section 80P,Section 154,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri Ramdas, CA
For Respondent: Smt. V. Swarnalatha, Sr. D.R
Hearing: 23.08.2024Pronounced: 23.10.2024

Heard together (2 matters)

ITA No. 541/Coch/2023
SA No. 115/Coch/2023

Read from the judgment's own cause title. This page is filed under one of them.

O R D E R Per Bench This assessee’s appeal for A.Y. 2020-21 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/NFAC/S/250/2023- 24/1052896710(1) dated 17.05.2023 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act). The assessee has also filed a stay petition SA No. 115/Coch/2023 qua the appeal.

Heard both the parties. Cases file perused

2.

After vehemently arguing for some time in support of the assessee’s section 80P deduction claim amounting to Rs.14,23,608/-, learned counsel seeks to withdraw SA 115/C/2023 Koonammoochi Peoples Service Co-op. Bank Ltd. the instant appeal with liberty to file section 154 rectification application before the appropriate authority(ies).

3.

The Revenue does not raise any objection to the assessee’s foregoing request.

4.

This assessee’s appeal ITA.No.541/Coch./2023 is dismissed as withdrawn in above terms subject to all just exceptions and it’s stay application SA.No.115/Coch./ 2023 is dismissed as rendered infructuous. A copy of this common order be placed in the respective case files.

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