THE KOLLAM DISTRICT CO OPERATIVE BANK LTD,KOLLAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE KOLLAM
In the result, appeal filed by the assessee sands dismissed
ITA 660/COCH/2023[2017-18]Status: DisposedITAT Cochin14 May 2025AY 2017-18
Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm Assessment Year: 2017-18 Kollam District Co-Operative Bank Ltd. .......... Appellant Chinnakada, Kollam 691001 [Pan: Aaaat4088L] Vs. The Income Tax Officer, Circle Kollam .......... Respondent Appellant By: ------- None ------- Respondent By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 24.02.2025 Date Of Pronouncement: 14.05.2025 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)], Dated 19.05.2023 For Assessment Year (Ay) 2017-18. 2. Brief Facts Of The Case Are That The Appellant Is A District Co- Operative Bank Engaged In The Business Of Accepting Deposits From Members & Lending Money To Its Members. The Return Of Income For Ay 2017-18 Was Filed On 01.11.2017 Declaring Total Income At Rs. 16,14,89,500/-. Against The Said Return Of Income, The 2 Kollam District Co-Operative Bank Ltd. Assessment Was Completed By The Acit, Circle Kollam (Hereinafter Called "The Ao") Vide Order Dated 23.12.2019 Passed U/S. 143(3) Of The Act At A Total Income Of Rs. 26,20,34,663/-. While Doing So, The Ao Made The Following Disallowances/Additions: -
For Appellant: ------- None -------For Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(3)Section 36(1)(vii)Section 36(1)(viia)Section 40Section 48
36(1)(viia) of the Act. We have carefully perused the assessment order. The AO, after calling for information regarding rural branches, held that the branches mentioned in para 6 of the assessment order cannot be classified as rural branches as the population of such places exceed 10,000 as per the census of 2011. These factual findings
