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12 results for “condonation of delay”+ Section 10(38)clear

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Key Topics

Section 80P(4)29Section 80P28Section 80P(2)(d)15Disallowance12Exemption10Deduction10Section 250(6)9Condonation of Delay9Section 143(3)

DAMODAR MANGALJI & COMPANY LIMITED,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), PANAJI

Appeals stands DISMISSED

ITA 35/PAN/2025[2014-15]Status: DisposedITAT Panaji18 Dec 2025AY 2014-15

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 034 & 035/Pan/2025 Assessment Year : 2011-12 & 2014-15 Damodar Mangalji & Company Ltd. Damodar Niwas, 1St Floor, Mc Road, Panaji, Goa-403001. Pan : Aaacd6880G . . . . . . . Appellant V/S Jt./Asstt. Commissioner Of Income Tax, Range-1/Circle-1(1), Goa. . . . . . . . Respondent Appearances Assessee By : Adv Rahul Sarda [‘Ld. Ar’] Revenue By : Mr M Satish [‘Ld. Dr’] Date Of Conclusive Hearing : 20/11/2025 Date Of Pronouncement : 18/12/2025 Order Per G. D. Padmahshali; The Captioned Twin Appeals Of Assessee Instituted U/S 253(1) Of The Income-Tax Act, 1961 [‘The Act’] Are Directed Against Separate Din & Order 1070138041(1) Dt. 08/11/2024 & 1070321994(1) Dt. 13/11/2024 Passed U/S 250 Of The Act By National Faceless Appeal Centre, Delhi [‘Ld. Nfac/Cit(A)’] Which Sprang From Assessment Orders Passed U/S 143(3) Of The Act Anent To Assessment Years 2011-12 & 2014-15 [‘Ay’].

For Appellant: Adv Rahul Sarda [‘Ld. AR’]For Respondent: Mr M Satish [‘Ld. DR’]
Section 143(1)Section 143(3)Section 14ASection 250Section 253(1)
7
Section 14A4
Section 253(1)2
Section 2502
Section 253(3)
Section 37(1)
Section 40(1)(i)

38,465/- and (4) addition of ₹36,73,895/- being difference in closing inventory due to incorrect valuation which remain unexplained satisfactorily to the Ld. AO. ITA No 035/PAN/2025, AY : 2014-15; 5. Similarly for AY 2014-15 the assessee filed its return of income online on 29/11/2014 declaring ITAT-Panaji Page 3 of 32 Damodar Mangalji & Company

DAMODAR MANGALJI & COMPANY LIMITED,PANAJI vs. THE JOINT COMMISSIONER OF INCOME TAX, RANGE - 1, PANAJI

Appeals stands DISMISSED

ITA 34/PAN/2025[2011-12]Status: DisposedITAT Panaji18 Dec 2025AY 2011-12

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 034 & 035/Pan/2025 Assessment Year : 2011-12 & 2014-15 Damodar Mangalji & Company Ltd. Damodar Niwas, 1St Floor, Mc Road, Panaji, Goa-403001. Pan : Aaacd6880G . . . . . . . Appellant V/S Jt./Asstt. Commissioner Of Income Tax, Range-1/Circle-1(1), Goa. . . . . . . . Respondent Appearances Assessee By : Adv Rahul Sarda [‘Ld. Ar’] Revenue By : Mr M Satish [‘Ld. Dr’] Date Of Conclusive Hearing : 20/11/2025 Date Of Pronouncement : 18/12/2025 Order Per G. D. Padmahshali; The Captioned Twin Appeals Of Assessee Instituted U/S 253(1) Of The Income-Tax Act, 1961 [‘The Act’] Are Directed Against Separate Din & Order 1070138041(1) Dt. 08/11/2024 & 1070321994(1) Dt. 13/11/2024 Passed U/S 250 Of The Act By National Faceless Appeal Centre, Delhi [‘Ld. Nfac/Cit(A)’] Which Sprang From Assessment Orders Passed U/S 143(3) Of The Act Anent To Assessment Years 2011-12 & 2014-15 [‘Ay’].

For Appellant: Adv Rahul Sarda [‘Ld. AR’]For Respondent: Mr M Satish [‘Ld. DR’]
Section 143(1)Section 143(3)Section 14ASection 250Section 253(1)Section 253(3)Section 37(1)Section 40(1)(i)

38,465/- and (4) addition of ₹36,73,895/- being difference in closing inventory due to incorrect valuation which remain unexplained satisfactorily to the Ld. AO. ITA No 035/PAN/2025, AY : 2014-15; 5. Similarly for AY 2014-15 the assessee filed its return of income online on 29/11/2014 declaring ITAT-Panaji Page 3 of 32 Damodar Mangalji & Company

THE YAMAKANMARDI LAXMI URBEN CREDIT SOUHARDA SAHAKARI NIYAMIT .,BELGAUM vs. INCOME TAX OFFICER (WARD) 1(1), BELGAVI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 222/PAN/2018[2012-13]Status: DisposedITAT Panaji07 Apr 2022AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

SHRI SHIVAYOGI URBAN CO-OPERATIVE CREDIT SOCIETY LIMITED,BELGAVI vs. INCOME TAX OFFICER, WARD - 1(3), BELGAVI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 244/PAN/2018[2012-13]Status: DisposedITAT Panaji07 Apr 2022AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

SHRI. GOMATESH CO-OPP. CREDIT SOC. LTD.,BELGAUM vs. INCOME TAX OFFICER, WARD- 1, NIPANI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 248/PAN/2018[2012-13]Status: DisposedITAT Panaji07 Apr 2022AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

SHRI. GOMATESH CO-OPP. CREDIT SOC. LTD.,BELGAUM vs. INCOME TAX OFFICER, WARD- 1, NIPANI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 249/PAN/2018[2013-14]Status: DisposedITAT Panaji07 Apr 2022AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

PRATHAMIK KRISHI PATTIN SAHAKARI BANK,BELGAVI vs. INCOME TAX OFFICER, WARD 1(4), BELGAVI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 443/PAN/2018[2013-14]Status: DisposedITAT Panaji07 Apr 2022AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

M/S VEERASHAIVA CREDIT SOUHARD SAHAKARI LIMITED,ATHANI vs. INCOME TAX OFFICER, WARD -2(2), BELGAVI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 445/PAN/2018[2015-16]Status: DisposedITAT Panaji07 Apr 2022AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

M/S NERALI URBAN CO-OPRATIVE CREDIT SOCIETY LIMITED,NERALI vs. INCOME TAX OFFICER, WARD - 2(2), BELAGAVI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 446/PAN/2018[2015-16]Status: DisposedITAT Panaji07 Apr 2022AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

THE BELGAUM MANUFACTURERS CO-OPERATIVE INDUSTRIAL ESTATE LTD,BELGAVI vs. INCOME TAX OFFICER, WARD - 1(1), BELGAVI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 431/PAN/2018[2015-16 ]Status: DisposedITAT Panaji07 Apr 2022

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

HEGDEKATTA GROUP GRAMAGALA SEVA SAHAKARI SANGHA LTD.,SIRSI vs. THE INCOME TAX OFFICER, WARD - 1,, SIRSI

In the result, all the grounds of appeal of the assessee related ITA No

ITA 210/PAN/2018[2012-13]Status: DisposedITAT Panaji07 Apr 2022AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: NoneFor Respondent: Smt. Rijula Uniyal, Sr. DR
Section 250(6)Section 80PSection 80P(2)(d)Section 80P(4)

38 days. The assessees prayed for condonation of delay. In all the three appeals delay are condoned and accepting the appeal for hearing. 3. Brief fact is that all the cooperative societies invested their surplus funds in Cooperative Bank and accordingly the interest was earned. The assessee claimed the interest as deduction u/s 80P but the Ld. AO disallowed

THE SESA GOA EMPLOYEES CO-OP. CREDIT SOCIETY LTD.,SANKHLIM GOA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), PANAJI., PANAJI

Appeal is allowed in above terms

ITA 45/PAN/2019[2015/16]Status: DisposedITAT Panaji23 Dec 2022

Bench: Shri Satbeer Singh Godara

For Appellant: Shri R L BhobeFor Respondent: Shri N. Shrikanth
Section 143(3)Section 80PSection 80P(2)Section 80P(2)(d)Section 80P(4)

38,534/-, against which it had claimed deduction under Sec.80P(2)(d) of the Act. It was observed by the Pr.CIT, that the A. O while framing the assessment had allowed the aforesaid claim of deduction raised by the assessee. Observing, that as co-operative banks were commercial banks and not a co-operative society, therefore, the Pr.CIT