AMBALAPPUZHA SERVICE CO-OPERATIVE SOCIETY LTD,AMBALAPPUZHA vs. ITO, WARD -2, ALAPPUZHA
In the result, the appeal filed by the assessee stands partly allowed the and stay application stands dismissed
ITA 373/COCH/2025[2015-16]Status: DisposedITAT Cochin23 Jun 2025AY 2015-16
Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm & Sa No. 53/Coch/2025 Assessment Year: 2015-16 Ambalapuzha Service Co-Op. Bank Ltd. .......... Appellant Kakkazham, Vandanam, Alappuzha 688005 [Pan: Aacak0787F] Vs. The Income Tax Officer. Ward-2, Alappuzha .......... Respondent Appellant By: Shri Suresh Kumar Varma, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 30.05.2025 Date Of Pronouncement: 23.06.2025
For Appellant: Shri Suresh Kumar Varma, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 139(1)Section 147Section 148Section 41(1)Section 68Section 69ASection 80ASection 80A(5)Section 80P
section 139(1) of the Income Tax
Act, 1961 (the Act). The ITO, Ward-2, Alappuzha (hereinafter called "the AO"), based on the information that the appellant made cash deposit of Rs. 58,00,000/- formed an opinion that income escaped assessment to tax. Accordingly, notice u/s. 148 of the Act.
In response to the notice the appellant submitted
