Adat Farmers Service Co-op. Bank Ltd. vs. Income Tax Officer - 2(1)

Parties Involved

Facts Summary

These assessee’s twin appeals ITA Nos. 334 & 335/Coch/2023, for assessment years 2009-10 & 2012-13, arise against separate orders of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 15.02.2023 and 13.12.2023, in proceedings u/s. 144 r.w.s. 147 and s. 271B of the Income Tax Act, 1961 (hereinafter 'the Act'), respectively. The assessee claims to have filed its return (with deduction) on 06.12.2016 whereas the Assessing Officer had framed his assessment on 25.11.2016. The assessee had filed its audit report manually in August, 2019. It had all along claimed that the delay was on account of the fact that it was awaiting the corresponding audit report from the state government department, which has gone un-rebutted by the department.…

Legal Issues

• 1. Claim for s. 80P deduction
• 2. Penalty under s. 271B

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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