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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Satbeer Singh Godara & Shri Amarjit Singh
IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Satbeer Singh Godara, Judicial Member and Shri Amarjit Singh, Accountant Member
ITA No.710 & 866/Coch/2023 (Assessment Years : 2016-17 & 2012-13)
The Income Tax Officer - 2(1) Mundela Service Co-op. Bank Ltd. Aayakar Bhavan, Kowdiar Mundela P.O., Vellanadu vs. Thiruvananthapuram 695003 Thiruvananthapuram 695543 [PAN: AAAAM5586E] (Appellant) (Respondent)
Appellant by: Dr. S. Pandian, CIT-DR Respondent by: Shri K.P. Pradeep, Advocate
Date of Hearing: 22.08.2024 Date of Pronouncement: 23.10.2024
O R D E R Per Bench These Revenue’s twin appeals for A.Ys. 2016-17 and 2012-13, arise against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/NFAC/S/250/2023-24/1055074028(1) and 1056487281(1) dated 11.08.2023 and 25.09.2023, in proceedings u/s.143(3) and 147 r.w.s.144 of the Income Tax Act, 1961 (the Act); assessment year-wise; respectively.
Heard both the parties. Case files perused.
The Revenue’s sole substantive ground raised in “lead” appeal ITA.No.710/Coch./2023 seeking to reverse the CIT(A)-NFAC’s lower appellate findings reversing the Assessing Officer’s action making sec.68 unexplained cash credits addition of Rs.6,02,37,173/-, in the course of assessment dated 14.12.2018.
2 ITA No. 710/Coch/2023 Mundela Service Co-operative Bank Ltd. 3. Both the learned representatives next invited our attention to this tribunal’s coordinate bench’s common order dated 23.05.2019, for assessment years 2011-12, 2014-15 and 2015-16, restoring the very issue of assessee’s claim that the impugned identical cash credits had come from it’s members only, back to the Assessing Officer in paras 12 to 12.7, for his afresh verification of the depositor(s) concerned. 4. Faced with this situation, we adopt judicial consistency to accept the Revenue’s identical sole substantive grievance in very terms. Ordered accordingly. 5. Same order to follow in Revenue’s latter appeal ITA.No.866/Coch./2023 for the assessment year 2012-13 since raising identical sole substantive ground of sec.68 unexplained cash credit addition of Rs.4,18,34,059/- in very terms. Ordered accordingly. 6. These Revenue’s twin appeals ITA.Nos.710 & 866/Coch./2023 are allowed for statistical purposes in above terms. A copy of this common order be placed in the respective case files. Order pronounced in the open court on 23rd October, 2024 under Rule 34 of The Income Tax (Appellate Tribunal) Rules, 1963. Sd/- Sd/- (Amarjit Singh) (Satbeer Singh Godara) Accountant Member Judicial Member Cochin, Dated: 23rd October, 2024 n.p. Copy to: 1. The Appellant 2. The Respondent 3. The Pr. CIT concerned 4. The Sr. DR, ITAT, Cochin 5. Guard File Assistant Registrar ITAT, Cochin