2025 (7) TMI 235

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ety has not filed it's original return of income for the assessment year 2016-2017. The case of the assessee-society has been subsequently reopened u/sec.148 of the Act, for the reasons recorded as per which, an information available with the Department in RMS module of Insight portal under non-filer with potential tax liabilities and as per the said information, the assessee-society has made cash deposit of more than Rs. 10 lakhs in SB A/c and time deposit exceeding Rs. 2 lakh with a banking company. Accordingly, show cause notice u/sec.148A of the Income Tax Act, 1961 [in short "the Act"] has been issued on 20.01.2023 and served on the assessee-society. In response to the show cause notice, the assessee-society has not furnished any reply....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....so furnished relevant cash book extract of societies to prove source of cash deposit. The learned CIT(A) after considering the relevant submissions of the assessee-society and also taking note of various reasons given by the Assessing Officer, partly allowed the appeal of the assessee-society where the learned CIT(A) upheld the addition made towards cash deposit on the ground that the assessee-society could not explain source for cash deposit. However, deleted the addition made by the Assessing Officer towards time deposit on the ground that, on perusal of the bank statements it reveals that, the assessee-society claim is correct in respect of time deposit. The learned CIT(A) had also rejected the claim of deduction u/sec.80P of the Act. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ety has filed certain additional evidences before the Tribunal, the matter may be remitted back to the file of Assessing Officer to verify the case and decide the same as per law. 7. We have heard both the parties, perused the material on record and the orders of the authorities below. The assessee-society is registered under the Societies Registration Act and it works for the welfare of the backward community called "Gouda" in the State of Telangana and also down trodden community. The society has four Toddy shops and four Excise Department licenses in and around Hyderabad city. As a matter of regulatory policy in Toddy for running Toddy shops, it has four outlets. Further, it has four separate Cooperative Societies constituted by the p....