Natungram Samabay Krishi Unnayan Samity Limited Vs. ITO, Ward-42(1), Murshidabad
Case No: ITA No.: 905/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘C’ BENCH, KOLKATA
Date: 1/27/2026
Parties Involved
appellantNatungram Samabay Krishi Unnayan Samity Limited
respondentITO, Ward-42(1), Murshidabad
Facts Summary
The assessee, Natungram Samabay Krishi Unnayan Samity Limited, a Primary Agricultural Credit Society, filed a return of income showing ‘NIL’ income after claiming a deduction under section 80P of the Income Tax Act, 1961, amounting to ₹36,40,934/-. The case was selected for scrutiny under Computer Assisted Scrutiny Selection (CASS). During the assessment proceedings, the Assessing Officer issued a notice under section 142(1) of the Act, to which the assessee did not respond. Consequently, the as…
Decision in favour of
Revenue
Legal Issues
- 1. Whether the Commissioner of Income Tax (Appeals) erred in not appreciating the submissions of the assessee.
- 2. Whether the assessee is involved in the business of banking and hence not entitled to certain deductions.
3 more legal issues analysed in this judgement.
Precedents Relied Upon
2 precedents cited in this judgement.