M/S SHREE ASHAPURI URBAN CREDIT CO-OP. SOCIETY LTD.,DHULE vs. INCOME TAX OFFICER, WARD-3, DHULE, DHULE

Coming to the assessee’s sole substantive grievance raised in the instant appeal is that the both the learned lower authorities have erred in law in making adhoc addition of Rs.36,15,852/- by disallowing 40% of the expenses claimed in the P & L A/c and further denying deduction u/sec.80P on the said addition and made the impugned addition without properly appreciating the 2 ITA.No.48/PUN./2024 explanation of the assessee and the learned counsel representing the assessee submitted that one more opportunity be given to put- forth the grievance of the assessee in the interest of substantial justice. The Learned DR is equally fair enough in not opposing the request of the assessee.

I have considered the rival submissions and perused the material on record. The clinching fact is that both the learned lower authorities have made the impugned addition without properly considering the explanation of the assessee. Thereby, the NFAC not complying with the provisions of sec.250(6) of the Act requiring it to give points for determination followed by a detailed discussion thereof. Faced with the situation, I deem it appropriate in the larger interest of justice to restore the assessee’s instant appeal back to the NFAC for it’s afresh adjudication, preferably within three effective opportunities of hearing, subject to the rider that it shall be the taxpayer’s onus and responsibility only to file and prove all the relevant facts in consequential proceedings. Ordered accordingly.

These assessee’s appeal is allowed for statistical purposes in above terms.