ACIT, CENTRAL CIRCLE-1, JODHPUR vs. M/S. ADARSH CO-OPERATIVE BANK LTD. , SIROHI.
In the result, the appeal of the Revenue is allowed for statistical purposes, as indicated above
ITA 212/JODH/2018[2014-15]Status: DisposedITAT Jodhpur30 Oct 2025AY 2014-15
Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)
For Appellant: Shri Prakul Khurana, Advocate and Shri Mukesh Soni, CAFor Respondent: Smt. Runi Pal, CIT-DR
Section 143(3)Section 33Section 35Section 40Section 56Section 5ASection 67(1)Section 73
ready reference, we extract/summarise the salient portions of the AO’s findings (head-notes supplied):
A. Alleged violations of the MSCS Act
(i) Section 67(1) (10× cap) read with proviso: deposits/loans vis-à-vis subscribed capital & reserves;
(ii) Section 33 (20% shareholding cap): more than 20% held by Adarsh
