CHERUVARAKONAM SERVICE CO-OPERATIVE BANK LTD,THIRUVANANTHAPURAM vs. I.T.O, WARD-2(1), TRIVANDRUM

It emerges at the outset with the able assistance coming from both the parties that the CIT(A)/NFAC has passed it’s exparte lower appellate order confirming the Assessing Officer’s action making section(s) 80P deduction disallowance followed by section(s) 68 & 69C addition(s) thereby involving varying sum(s), without dealing & SA No. 78/Coch/2024 Cheruvarakonam Service Co-op. Bank Ltd. with the relevant factual matrix as contemplated u/s. 250(6) of the Act requiring him to frame points of determination followed by a detailed discussion thereupon. We further note that the Assessing Officer had also framed his assessment ex-parte only. Faced with this situation, we deem it appropriate to restore all the issues back to the Assessing Officer for his afresh appropriate adjudication with a rider that it shall be the assessee’s risk and responsibility only to plead and prove all the relevant facts within three effective opportunities of hearing in consequential proceedings. Ordered accordingly.

Delay of 90 days in filing the appeal stands condoned considering the reasons given in the condonation application.

This assessee’s appeal ITA.No.579/Coch./2024 is allowed for statistical purposes and it’s stay application SA.No.78/Coch./2024 is dismissed as rendered infructuous. A copy of this common order be placed in the respective case files.