M/S ADITI SCANS PVT. LTD,BIJAPUR vs. ACIT, CIRCLE - 1, BIJAPUR

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Laliet Kumar, Jm & Dr. Mitha Lal Meena, Am M/S Aditi Scans Pvt. Ltd. Vs Acit, Circle-1, Bijapur Shiva Kunja Chalukya Nagar (East) Solapur Road, Vijaypur, Vijaypur Pan No.Aagca 7255 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधााररती की ओर से /Assessee By : Shri Prasanth G.S., Ca राजस्व की ओर से /Revenue By : Shri Prabhat Jha, Citdr सुनवाई की तारीख / Date Of Hearing : 07/10/2021 घोषणा की तारीख/Date Of Pronouncement : 07/10/2021 आदेश / O R D E R Per Bench : This An Appeal Filed By The Revenue Against The Order Passed By The Cit(A), Gulbarga, Dated 29.11.2017 For The Assessment Year 2009- 2010, On The Following Grounds :- The Order Of The Learned Cit(A) In So Far As It Is Against The 1. Appellant, Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S Case. The Appellant Denies Itself Liable To Be Assessed On A Total Loss 2. Of Rs. 15,76,829/- As Against The Lossof Rs.75,46,930/- Under The Facts & Circumstances Of The Case. The Authorities Below Erred In Treating The Share Capital Of Rs. 3. 13,75,000/- As Unexplained Money Under Section 68 Of The Act Under The Facts & Circumstances Of The Case. The Order Of The Authorities Below Is Bad In Law As The Amount 4. Of Rs. 13,75,000/- Cannot Be Brought To Tax In The Hands Of The Appellant As The Mandatory Conditions To Invoke Section 68 Of The Act Have Not Been Satisfied Under The Facts & Circumstances Of The Case.

13,75,000/- cannot be brought to tax in the hands of the appellant as the mandatory conditions to invoke section 68 of the Act have not been satisfied under the facts and circumstances of the case. 2 a) The authorities beloware not justified in treating the 5. unsecured loans of Rs.45,95,101/-as unexplainedon the facts

NAVANIRMAN MULTIPURPOSE CO-OPERATIVE CREDIT SOCIETY LTD,BELAGAVI vs. INCOME TAX OFFICER, WARD - 2, BELAGAVI

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 116/Pan/2025 Assessment Year : 2016-17 Navanirman Multipurpose Co-Op. Credit Society Ltd., Laxmi Nagar, Hindalaga, Dist. Belagavi.-591108 Pan : Aacan0420G . . . . . . . Appellant V/S The Income Tax Officer, Ward-2, Belagavi. . . . . . . . Respondent Appearances Assessee By : Mr Pramod Vaidya [‘Ld. Ar’] Revenue By : Ms Rijjula Uniyal [‘Ld. Dr’] Date Of Conclusive Hearing : 07/08/2025 Date Of Pronouncement : 18/08/2025 Order Per G. D. Padmahshali; By Captioned Appeal The Assessee Impugns Din & Order 1074658686(1) Dt. 18/03/2025 Passed By National Faceless Appeal Centre, Delhi [‘Ld. Nfac/Cit(A)’ Hereinafter] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] Which In Turn Arisen Out Of Order Of Assessment Dt. 15/02/2024 Passed U/S 147 R.W.S. 144 Of The Act By National Faceless E- Asstt Centre, Delhi [‘Ld. Ao’ Hereinafter] Anent To Assessment Year 2016-17 [‘Ay’ Hereinafter].

68 taxmann.com 298 (Ker)]. 5. Per contra, the Ld. DR Uniyal sought our attention to para 5 of the Ld. Co-ordinate bench’s decision and pressing into service subsequent decision of Hon’ble Kerala High ITAT-Panaji Page 3 of 10 Navanirman Multipurpose Co-op. Credit Society Ltd. Vs ITO ITA Nos.116/PAN/2025 AY: 2016-17 Court in ‘Nileshwar Rangekallu

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI, AYAKAR BHAWAN vs. VPK URBAN COOPERATIVE CREDIT SOCIETY , VPK BHAWAN

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

HAVYAKA CREDIT SOUHARDA SAHAKARI NIYAMITA,KUMTA vs. INCOME TAX OFFICER WARD-2 KARWAR, KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

KAIGA PROJECT EMPLOYEES THRIFT AND CREDIT SOCIETY,KARWAR vs. INCOME TAX OFFICER, WARD - 2, KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

AKSHAYA CO-OPERATIVE CREDIT SOCIETY LIMITED,KARWAR vs. INCOME TAX OFFICER, WARD - 1(1), KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

AKSHAYA CO-OPERATIVE CREDIT SOCIETY LIMITED,KARWAR vs. INCOME TAX OFFICER, WARD 1(1), KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

AKSHAYA CO-OPERATIVE CREDIT SOCIETY LIMITED,KARWAR vs. INCOME TAX OFFICER, WARD - 1(1), KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

SHREE MAHILA CREDIT SOUHARD SAHAKARI SANGH NIYAMIT,BELAGAVI vs. ITO WARD 1 BELAGAVI, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

SHIVAGIRI CO-OP CREDIT SOCIETY LTD,BELAGAVI vs. INCOME TAX OFFICER, WARD - 1(3), BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

THE ADARSH MULTIPURPOSE CO-OPERATIVE SOCIETY,BELAGAVI vs. INCOME TAX OFFICER WARD 1-(2) , BELAGAVI, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

SAMARTH URBAN CO-OPERATIVE CREDIT SOCIETY LTD,BELGAUM vs. PR. COMMISSIONER OF INCOME TAX , BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

KUMTA ADIKE MARATA SOPUHARDA SAHAKARI SANGH NIYAMIT,KUMTA vs. INCOME TAX OFFICER, WARD - 2, KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

SHRI BASAVESHWAR URBAN CO OPERATIVE CREDIT SOCIETY LIMITED,BELAGAVI vs. INCOME TAX OFFICER NATIONAL E ASSESSMENT CENTRE, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

SHRI BASAVESHWAR URBAN CO OPERATIVE CREDIT SOCIETY LTD,BELAGAVI vs. INCOME TAX OFFICER NATIONAL E ASSESSMENT, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

BASAV SOUHARDA CREDIT SAHAKARI NIYAMIT BAILHONGAL,BAILHONGALA vs. INCOME TAX OFFICER NATIONAL E ASSESSMENT CENTER, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

VPK URBAN CO-OPERATIVE CREDIT SOCIETY,MARDOL, PONDA vs. INCOME TAX OFFICER, PANAJI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies

PRATHAMIK KRISHI PATTIN SAHAKARI SANGH NIYAMIT LTD BHOJ,BHOJ vs. INCOME TAX OFFICER, WARD-1, NIPANI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

13 of 36 Akshaya Co-Op credit society Limited & others. parked as investments/deposits with cooperative banks, other than a Primary Agricultural Credit Society or a Primary Co- operative Agricultural and Rural Development Bank. Observing, that the co- operative banks from where the assessee was in receipt of interest income were not co-operative societies