THE ORGAON URBAN CO-OPERATIVE CREDIT SOCIETY LIMITED,MARCELA vs. INCOME TAX OFFICER, WARD - 2(3), PANAJI
In the result, the appeal filed by the assessee stands allowed
ITA 242/PAN/2019[2015-16]Status: DisposedITAT Panaji30 Nov 2022AY 2015-16
Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.242/Pan/2019 िनधा"रण वष" / Assessment Year : 2015-16 The Orgaon Urban Co- Vs. Ito, Ward-2(3), Panaji, Operative Credit Society Goa. Limited, Deulwada, Marcela, Goa- 403107. Pan : Aaaat6227D Appellant Respondent Assessee By : Shri Madhu Gawde Revenue By : Shri N. Shrikanth Date Of Hearing : 16.11.2022 Date Of Pronouncement : 30.11.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Panaji [‘The Cit(A)’] Dated 29.05.2019 For The Assessment Year 2015-16. 2. The Appellant Raised The Following Grounds Of Appeal :- “1) The Learned Cit(A) Has Not Appreciated Appellants Submission That Though The Appellants Case Was Selected For Limited Scrutiny Under Cass Of Deduction Under Chapter Via & Low Income & High Loans / Advances / Investments The Learned Assessing Officer Erred In Examining Other Issues & Has Wrongly Travelled Beyond His Permitted Ambit In Making The Disallowances U/S. 40(A)(Ia) & Sec. 36(1)(V). 2) The Learned Cit(A) Ought To Have Considered That The Interest Earned On Statutory Investments Of Statutory Funds In The Apex Bank(Cooperative
For Appellant: Shri Madhu GawdeFor Respondent: Shri N. Shrikanth
Section 143(3)Section 194ASection 36