Shyamnagar Anchal SKUS Ltd. Vs. ITO, Ward-3(1), Bankura
Case No: I.T.A. No.: 711/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘D’ BENCH, KOLKATA
Date: 10/29/2025
Parties Involved
appellantShyamnagar Anchal SKUS Ltd.
respondentITO, Ward-3(1), Bankura
Facts Summary
The assessee, Shyamnagar Anchal SKUS Ltd., a Primary Agricultural Credit Society (PACS), did not file its return of income for the relevant assessment year. The Assessing Officer (AO) had information about huge transactions aggregating to ₹ 1,27,63,200/- during the relevant financial year. In response to the notice issued u/s 148 of the Act, the assessee filed the return of income as a Cooperative Society showing NIL income. The AO added an amount of ₹1,27,63,200/- u/s 69A of the Act as unexplai…
Decision in favour of
Assessee
Legal Issues
- 1. Erroneous disallowance of claim of Rs. 20,10,454.00 under section 80P of the Income Tax Act, 1961
- 2. Erroneous addition of Rs.1,27,63,200.00 by invoking Section 69A of the I. T. Act, 1961
1 more legal issue analysed in this judgement.
Precedents Relied Upon
1 precedent cited in this judgement.