2025 (2) TMI 1870

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....y Y. Marathe, Sr. DR ORDER PER V. DURGA RAO, J.M. : This appeal has been filed by the assessee against the order dated 18.12.2023, of the learned CIT(A)-National Faceless Appeal Centre, Delhi, relating to assessment year 2017-2018. 2. Briefly stated facts of the case are that the assessee is a co-op society engaged in the business of banking and providing credit facilities to it's memb....

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....the Act and e-served and also physical form by post on 10.05.2019. In response to the said notices, the assessee-society furnished copy of balance sheet, P & L A/c, daily collection list of members, registration certificate of society, list of members, bye laws, deposit slip and bank statement etc., However, since the assessee failed to furnish source of cash deposits, the Assessing Officer treate....

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....in it's bank, in absence of return of income, addition made on account of Sec.80P deduction and expenses claimed. 4. Aggrieved by the order of the Learned CIT(A), the assessee carried the matter in appeal before the Tribunal contending, inter alia, that the additions made by the Assessing Officer and sustained by the Learned CIT(A) are not in accordance with law and the authorities are not prop....

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....missed. 6. I have heard the rival submissions of both the parties, perused the orders of the authorities below and material on record. I find force in the arguments of the Learned DR. I note that the assessee is a society and as such, the assessee has to file return of income for the impugned assessment year 2017-2018. Despite issuance of statutory notices u/sec.142(1) and show cause notice u/s....