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

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ITA 48/PUN/2024Status: DisposedITAT Pune28 February 2024AY 2014-15Bench: SHRI SATBEER SINGH GODARA (Judicial Member)3 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the lower authorities made the addition without properly considering the assessee's explanation and without complying with the requirements of Section 250(6). Therefore, the appeal was restored to the NFAC for fresh adjudication.

What were the facts?

The assessee's appeal for AY 2014-15 concerns an adhoc addition of Rs. 36,15,852/- made by disallowing 40% of expenses and denying deduction u/s. 80P. The assessee contended that the lower authorities did not properly appreciate their explanation.

What were the issues?

Whether the addition made by disallowing expenses and denying deduction u/s. 80P was justified without properly considering the assessee's explanation and whether the NFAC complied with procedural requirements.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 80P,Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE “SMC” BENCH : PUNE [VIRTUAL HEARING]

Before: SHRI SATBEER SINGH GODARA

Hearing: 28.02.2024Pronounced: 28.02.2024

BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.48/PUN./2024 Assessment Year 2014-2015 M/s. Shree Ashapuri Urban Credit Co-op. Society Ltd., The Income Tax Officer, At Post & Taluka Ward – 3, Income Tax Office, Sindkheda, Opp to Bus vs. Aaykar Bhavan, Sakri Road, Stand, Sindkheda, Vidhya Vihar Colony, Dhule. Dist. Dhule. Maharashtra. PIN – 424 001. PAN AAAJS2290Q Maharashtra. (Appellant) (Respondent) For Assessee : Shri Sanket Joshi For Revenue : Shri B.S. Rajpurohit Date of Hearing : 28.02.2024 Date of Pronouncement : 28.02.2024 ORDER PER SATBEER SINGH GODARA, J.M. : This assessee’s appeal for assessment year 2014-15, arises against the National Faceless Appeal Centre [in short the “NFAC”] Delhi’s Din and Order No. ITBA/NFAC/S/250/2023- 24/1057866308(1), dated 10.11.2023, involving proceedings u/s. 143(3) of the Income Tax Act, 1961 (in short “the Act”).

Heard both the parties at length. Case file perused.

2.

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.

3.

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.

4.

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

Order pronounced in the open Court on 28.02.2024.

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