IN THE INCOMETAX APPELLATE TRIBUNAL COCHIN BENCH BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI SONJOY SARMA, JUDICIAL MEMBER Assessment Year: 2017-18 Chandiroor Service Co-Operative Bank Ltd. …….….…..…..….……….Appellant Chandiroor 688537, Tal: Cherthala, Dist-Alappuzha, Kerala – 688537.

[PAN:AAAAC6215E]

vs.

ACIT, Circle, Alappuzha..……….....................………........……...…..…..Respondent Appearances by:

Shri C A Jono, Adv., appeared on behalf of the assessee.

Smt. Leena Lal, Snr AR, appeared on behalf of the Revenue.

Date of concluding the hearing: June 12, 2025 Date of pronouncing the order: August 12, 2025

ORDER

Per Sonjoy Sarma, Judicial Member:

This appeal by the assessee is directed against the order of the Commissioner of Income Tax (Appeals), dated 06.01.25, for the Assessment Year 2017–18, confirming the penalty of Rs. 88,750 levied by the Assessing Officer under Section 271B of the Income-tax Act, 1961.

2. Brief facts of the case are as under the assessee is a cooperative society, filed its return of income on 19.12.2017, declaring total income at ‘Nil’. The assessment under Section 143(3) was completed on 17.12.2019, disallowing deduction under Section 80P and determining