ALFALAH EDUCATIONAL & WELFARE SOCIETY ,FAIZABAD vs. ASSESSMENT UNIT ITD, DELHI
In the result, the appeal is allowed for statistical purposes
ITA 144/ALLD/2024[2015-16]Status: DisposedITAT Allahabad27 Dec 2024AY 2015-16
Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2015-16 Alfalah Educational & Welfare Vs. Assessment Unit, Income Tax Society Qusba Bhadarsa Department Bharatkund, Faizabad, U.P. Pan:Aadfi7669A (Appellant) (Respondent) Assessee By: Sh. Praveen Godbole, C.A. Revenue By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 22.10.2024 Date Of Pronouncement: 27.12.2024 O R D E R Per Nikhil Choudhary, A.M.: This Appeal Has Been Filed Against The Order Of The Ld. Cit(A), Nfac, Passed Under Section 250 Of The Income Tax Act, 1961 Dated 13.09.2014. The Grounds Of Appeal Preferred By The Assessee Are As Under:- “1. The 1. That In Any View Of The Matter Assessment Made On Income Of Rs.2,45,71,147/- U/S 147 R.W.S. 144 Of The Act Vide Order Dated 02.03.2023 Is Bad Both On The Facts & In Law. 2. That In Any View Of The Matter Appeal Decided Ex-Parte By Cit Appeal Nfac By Order Dated 13.09.2024 Without Providing Reasonable Opportunity To The Assessee Is Highly Unjustified. 3. That In Any View Of The Matter Proceedings As Initiated U/S 147 Of The Act Is An Illegal Proceedings & There Is No Concealment Of Income & Moreover There Was No Proper Satisfaction Was Recorded By The Department For Initiation Of Proceedings Hence Entire Proceedings Liable To Be Annulled.
For Appellant: Sh. Praveen Godbole, C.AFor Respondent: Sh. A.K. Singh, Sr. DR
Section 144Section 147Section 250Section 271(1)(c)Section 69
u/s 69 of the Act is incorrect as no investment was made by the assessee society in time deposit in Punjab National Bank as alleged and the chart as reproduced in the assessment order at Para 3.3 Pg. 4-8 by alleging investment made in time deposit is nothing but amount transferred to autosweep account out of reversal credited from
