IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER&

SHRI ARUN KHODPIA, ACCOUNTANT MEMBER ITA No. 2811/MUM/2025 (AY: 2004-05)

(Physical hearing)

The Navyug Co-operative Housing DCIT, Circle – 19(3), Mumbai, Society Ltd. Vs Kautilya Bhavan, Bandra Kurla Jai Hind Club Building JVPD Scheme, Complex, Bandra (East), 2^nd Floor, N.S. Road No. 11, Juhu, Mumbai – 400051.

Mumbai – 400049.

[PAN : AAAAT0325L]

Appellant / Assessee Respondent / Revenue Assessee by Mrs. Arati Vissanji, Advocate &

Mr. Shalin S. Divatia, CA Revenue by Shri Leyaqat Ali Aafaqui, Sr. DR Date of Institution 24.04.2025 Date of hearing 05.01.2026 Date of pronouncement 23.03.2026 Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER;

1. This appeal by assessee is directed against the order of ld. CIT(A)/NFAC dated 18.07.2024 for Assessment Year (AY) 2004-05.

2. Brief facts of the case are that assessee is a co-operative society. The assessing officer initiated the assessment proceeding pursuant to order of ld. PCIT dated 19.03.2014 passed under section 263. The assessing officer during assessment recorded that assessee along with 13 other co- operative societies o