THE ANDHRA PRADESH MERCANTILE MUTUALLY AIDED CO- OPERATIVE THRIFT&CREDIT SOCIETY LTD,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-1(1), VIJAYAWADA

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ITA 104/VIZ/2023Status: DisposedITAT Visakhapatnam26 March 2024AY 2017-18Bench: SHRI DUVVURU RL REDDY, HON’BLE (Judicial Member), SHRI S BALAKRISHNAN, HON’BLE (Accountant Member)7 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the CIT(A) erred in dismissing the appeal in limine due to delay without considering the merits. The case was remitted back to the AO for fresh consideration, allowing the assessee an opportunity to present its case.

What were the facts?

The assessee, a cooperative credit society, filed a NIL income return. During demonetization, it deposited a large sum of cash, which the AO treated as unexplained income under Section 69A. The assessee failed to provide details and respond to notices.

What were the issues?

Whether the CIT(A) was justified in dismissing the appeal solely on the ground of delay without considering the merits, and whether the assessee should be given an opportunity to present its case before the AO.

Which sections of the Income-tax Act were involved?

Section 69A,Section 115BBE,Section 143(3),Section 143(2),Section 142(1),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI DUVVURU RL REDDY, HON’BLE & SHRI S BALAKRISHNAN, HON’BLE

Hearing: 21/03/2024

आदेशकीप्रतिलिपिअग्रेपिि/Copy of the order forwarded to:- निर्धाररती/ The Assessee–The Andhra Pradesh Mercantile Mutually 1. Aided Cooperative Thrift & Credit Society Limited, C/o. CA MV Prasad, Chartered Accountant, D.No. 60-7-13, Ground Floor, Siddhartha Nagar, 4th Lane, Vijayawada, Andhra Pradesh – 520010.

7 रधजस्व/The Revenue –The Income Tax Officer, Ward-1(1), O/o. ITO, 2. MG Road, Vijayawada, Andhra Pradesh – 520010. 3. The Principal Commissioner of Income Tax, आयकरआयुक्त (अपील)/ The Commissioner of Income Tax 4. ववभधगीयप्रनतनिधर्, आयकरअपीलीयअधर्करण, ववशधखधपटणम/ DR,ITAT, 5. Visakhapatnam गधर्ाफ़धईल / Guard file 6. आदेशधिुसधर / BY ORDER

Sr. Private Secretary ITAT, Visakhapatnam

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