2024 (4) TMI 1251

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....ORDER  This assessee's appeal for assessment year 2014-15, arises against the National Faceless Appeal Centre [in short the "NFAC"] Delhi's Din and Order No. ITBA/NFAC/S/250/2021- 22/1042287596(1), dated 31.03.2022, involving proceedings u/s. 143(3) of the Income Tax Act, 1961 (in short "the Act"). Heard both the parties. Case file perused. 2. The assessee pleads the following substantive....

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....iating the fact that the cooperative societies engaged in business in banking are statutorily required to invest its funds in nationalized banks. 4. The appellant craves leave to add, amend, alter, modify, delete any of the grounds." 3. The sole issue herein which arises for the tribunal's apt adjudication herein is that of correctness of both the learned lower authorities action disallowing ....