TaxTMI 
TaxTMI 
2025 (9) TMI 238
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....2. Findings & Analysis : We have heard Ld.DR and perused the records. In this case, no one appeared on behalf of the assessee. This is the appeal filed by the Revenue against the Order of the Commissioner of income Tax (Appeal) (NFAC) dated 17/12/2024 for AY 2018-19. Assessee is a cooperative credit society registered under Maharashtra Cooperative Societies Act. It is in the business of providing credit facility to its members. In this case, the ITO received information from the INSIGHT portal of the Income Tax Department that Assessee has deposited Rs. 1,00,43,800/- in cash in current account and has done cash withdrawal of Rs. 6,05,000/-. The Assessing Officer also received information that Assessee has not filed return of Income. Base....
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....evidence filed by the Assessee and recorded his satisfaction. The Commissioner of Income Tax (appeal) then as per Rule 46A of the Income Tax Rules forwarded the evidence filed by the Assessee to the Assessing Officer for his report on 24/06/2024. Then Commissioner of Income Tax (appeal) issued Reminders to the Assessing Officer on 2/08/2024, 20/08/2024, 5/09/2024 asking the Assessing Officer to file Report on the submission of the Assessee. Commissioner of Income Tax (appeal) also send a letter to the concern Additional Commissioner Income Tax requesting him to ask the AO to send the report. On 25/09/2024 the AO filed a letter requesting one month's time. Accordingly, time was granted to the AO. Since the AO did not submit the report under ....
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.... To examine the evidence or document or to cross-examine the witness produced by the appellant, or (b) To produce any evidence or document or any witness in rebuttal of the additional evidence produced by the appellant....... 6. As per Rule 46A of the Income Tax Rules, the Commissioner of Income Tax (appeal) admitted the Additional Evidence filed by the Assessee and forwarded it to the Assessing Officer for his verification and report. Therefore, there is no question of delay by the Assessee. As per Rule 46A, the AO was suppose to verify the evidence forwarded by the CIT(A) and submit his report to the CIT(A). The Commissioner of Income Tax (appeal) gave more than sufficient time to the AO to verify the evidence filed by the ass....
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.... Tax (appeal) has discussed in the order that the cash deposits were out of the daily cash deposited by various members in their respective accounts maintained with Assessee Cooperative society. The Assessee had filed copies of cash book, bank books, ledgers etc. The AO or Pr.Commissoner Income Tax -3 Pune (who has authorised this appeal) has not contravened the findings of the Commissioner of Income Tax (appeal). It is clear that the AO or Pr.Commissioner Income Tax -3 Pune has not bothered to verify the documents filed by the assessee, they have not brought on record any defect in the documents. It is an admitted fact that the Assessee is a cooperative credit society duly registered under Maharashtra Co-Operative Societies Act. The Assess....