IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH BEFORE SHRI INTURI RAMA RAO, AM AND SHRI PRAKASH CHAND YADAV, JM ITA Nos. 371 & 372/Coch/2025 & SA Nos. 51 & 52/Coch/2024 Assessment Years: 2017-18 & 2021-22 The Aroor Central Service Co-op. Bank Ltd. .......... Appellant Aroor, Cherthala, Alappuzha 688534 [PAN: AADAT1753B]

vs.

The Income Tax Officer, Ward-5, Alappuzha .......... Respondent Appellant by: Shri Suresh Kumar Varma, CA Respondent by: Smt. Leena Lal, Sr. D.R. Date of Hearing: 30.05.2025 Date of Pronouncement: 23.06.2025

O R D E R

Per: Inturi Rama Rao, AM These appeals filed by the assessee are directed against different orders of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 20.03.2024 & 22.03.2024 for Assessment Years (AY) 2017-18 and 2021-22, respectively. The appellant had also filed Stay Petitions in SA Nos. 51 & 52/Coch/2024 for stay of collection of outstanding demands.

2. Since identical issues and facts are involved in these appeals, they are heard together and disposed of by this common order.

3. For the sake of convenience and clarity the facts relevant to the appeal bearing ITA No. 271/Coch/2025 for AY 2017-18 are stated herein.

4. Brief facts of the case are that the appellant is a co-operative society registered under the Kerala State Co-operative Societies Act, 1969. It is classified as primary agricultural credit co-operative society. The appellant is engaged in the business of providing credit to its members. No regular return of income under the provisions of section 139(1) of the Income Tax Act, 1961 (the Act) was filed by the appellant. The ITO, Ward-5, Alappuzha (hereinafter called "the AO"), based on the information that the appellant made substantial cash deposits in the bank account during demonetisation period, formed an opinion that income escaped assessment to tax. Accordingly, notice u/s. 143(1) of the Act was issued calling upon the appellant to file return of income. The appellant had not complied with the notice u/s. 142(1) of the Act. In the circumstances, the AO proceeded to hold that the appellant is not entitled for deduction u/s. 80P as there was no claim was made in the return of income in terms of provisions of section 80AC of the Act. Accordingly, disallowed the claim for deduction u/s. 80P after making several disallowances. The AO assessed income of Rs.

94,66,941/- under the head ‘business’.

5. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order dismissed the appeal placing reliance on the decision of the Hon'ble Jurisdictional High Court in the case of Nileshwar Range Kallu Chethu Vyavasaya Thozihilali Sahararana Sangham [2023] 459 ITR 730 (Ker).

6. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal.

7. At the outset we find that there is delay in filing this appeal before the Tribunal of 361 days. The appellant filed a petition along with affidavit seeking condonation of delay, which reads as under: -

“1, Meera U Pillai, Principal Officer, The Aroor Central Service Co-operative Bank, Aroor, Cherthala, Alappuzha

688534, do hereby solemnly affirm and state as follows:-

1. I am the appellant in the accompanying appeal and petitioner in the above petition for stay. I am well acquainted with the facts of the case and am competent to swear to this affidavit.

2. The above appeal is filed against the order of the CIT(A), NFAC, Delhi u/s 250 dated 20.03.2024vide DIN ITBA/NFAC/S/250/2023-24/1063017274(1)) since the first appeal was dismissed.

3. The petitioner is a Primary Agricultural Credit Society (PACS) and filed Return of Income belatedly dated 29-10- 2019 by claiming deduction u/s 80P of the Income tax act, 1961 of Rs. NIL for the A.Y.2017-18. The assessment completed u/s 143(3) dt.16-12-2019 by disallowing the deduction u/s 80P of the act and the assessed total income amounting to Rs.94,99,444 /- by adjustments to Provisions and Reserves to Net Profit as per Audited Accounts and disregarding the total income arri