The District Cooperative Central Bank Limited, Mahbubnagar v. Director of Income Tax (Intelligence & Criminal Investigation ), Hyderabad

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES : BENCH B HYDERABAD (THROUGH VIDEO CONFERENCE ) BEFORE SHRI S.S. GODARA JUDICIAL MEMBER AND SHRI L.P. SAHU ACCOUNTANT MEMBER I.T.A. NO S . 1778 TO 1782 /HYD./201 8 A .YS : 20 08 - 09 2011 - 12 2012 - 13 2014 - 15 & 2015 - 16 THE DISTRICT COOPERATIVE CENTRAL BANK LIMITED VS. ACIT MAHABOOBNAGAR CIRCLE 5(1) HYDERABAD [PAN: AAAAT4794K ] (APPELLANT) (RESPONDENT) FOR ASSESSEE: SHRI S RAMA RAO AR FOR REVENUE: SHRI NARAYANA MURTHY NAIK D.R. DATE OF HEARING : 1 1 / 05 / 2021 DATE OF PRONOUNCEMENT : 28 /05/2021 O R D E R PER S.S. GODARA J.M. TH ESE ASSESSEES FIVE APPEALS A RISE AGAINST THE CIT(A) - 4 HYDERABADS ORDER S DATED 19.04 .2018 PASSED IN CASE NO. 0213 /201 8 - 19 FOR A.Y. 2008 - 09 FOLLOWED BY HIS COMMON ORDER DATED 18.6.2018 IN APPEAL NOS.0077 0078 0079 0075/2018 - 19 FOR A.YS 2011 - 12 TO 2012 - 13 AND 2014 - 15 TO 2015 - 16 INVOLVING PROCEEDINGS U/S 143(3) R.WS. 147 IN THE FIRST AND U/S 271 FA OF THE INCOME TAX ACT 1961 ; FOR SHORT THE ACT ; IN THE LA TTER FOUR INSTANCES; RESPECTIVELY. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. WE NOTICE AT THE OUTSET THAT THE CIT(A)S LOWER APPELLATE ORDER S UNDER CHALLENGE IN ALL THESE FIVE CASES INTER - ALIA AFFIRMING THE ASSESSING OFFICERS ITA NOS. 1778 TO 1782/HYD/2018 THE DISTRICT CO - OPERATIVE CENTRAL BANK LIMITED MAHABOOBNAGAR 2 ACTION TAKING RECOURSE TO SEC147/148 PROCEEDINGS FOLLOWED BY ADDITION OF RS. 6 92 75 784/ - REPRESENTING THE PROVISION MADE AS PER NABARD GUIDELINES IN FIRST AND IMPOSI NG SEC.271FA PENALTIES ON ACCOUNT OF FAILURE IN REPORTING SPECIFIED TRANSACTIONS; RESPECTIVELY HA VE BEEN PASSED EX PARTE. 3. MR. NAIK VEHEMENTLY ARGUED THAT THE CIT(A)S BOTH ORDERS UNDER CHALLENGE HAVE MADE IT CLEAR THAT HE HAD AFFORDED ADEQUATE OPPO RTUNITIES TO THE ASSESSEE WHICH THE LATTER FAILED TO AVAIL. HE IS UNABLE TO REBUT THE BASIC FACT THAT NEITHER OF THE CIT(A)S ORDER S HAS DEALT WITH MERITS OF THE CORRESPONDING ISSUES IN ALL THESE FIVE ASSESSMENT YEARS. 4. FACED WITH THIS SITUATION WE DEEM IT APPROPRIATE THAT LARGER INTEREST OF JUSTICE WOULD BE MET IN CASE THE LEARNED CIT(A) EXAMINE S ALL THE ISSUES RAISED HEREIN AFRESH IN LIGHT OF SEC.250 (6) OF THE ACT AFTER FRAMING POINTS OF DETERMINATION FOLLOWED BY DETAILED ADJUDICATION ; WITHIN THREE EFFECTIVE OPPORTUNITIES OF HEARING. WE ORDER ACCORDINGLY. TH ESE ASSESSEES FIVE APPEALS ARE ALLOWED FOR STATISTICAL PURPOSES IN FOREGOING TERMS. A COPY OF THIS COMMON ORDER BE PLACED IN THE RESPECTIVE CASE FILES. PRONOUNCE D IN OPEN COURT ON 28 TH MAY 2021. SD/ - SD/ - (L.P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: THE 28 TH MAY 2021. * GMV ITA NOS. 1778 TO 1782/HYD/2018 THE DISTRICT CO - OPERATIVE CENTRAL BANK LIMITED MAHABOOBNAGAR 3 COPY OF THE ORDER FORWARDED TO: 1. THE DISTRICT CO - OPERATIVE CENTRAL BA N K LIMITED D.NO. 1 - 6 - 144/5A P . B.NO.14 OPP. DISTRICT COURT MAHABOOBNAGAR 509 001 2. ACIT CIRCLE 5(1) HYDERABAD 3. ACIT RANGE 5 HYDERABAD. 4. CIT(A) - 4 HYDERABAD 5. PR . CIT - 4 HYDERABAD 6. DR ITAT HYDERABAD. 7. GUARD FILE.