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TMI Blog2025 (4) TMI 1440X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Act (hereinafter referred to as the 'Act') for the assessment years 2020-21, 2018-19, 2017-18, 2014-15 & 2013-14 respectively. Since, the issues involved in all the appeals are common and relate to the same assessee, therefore, these appeals have been heard together and are being disposed of by this consolidated order. We take up ITA No.2053/Kol/2024 as lead case for narration of facts and adjudication for the sake of convenience. for assessment year 2020-21. 2. ITA No.2053/Kol/2024 - The assessee has taken the following grounds of appeal: "1. The CIT(Appeals), NFAC erred in confirming the addition as made by AO on account of addition of interest received by the assessee from fixed deposits in the year under consideration, which are e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed various details, information, documents etc. as required. From the perusal of the financials of the assessee for the relevant assessment year, the Assessing Officer noticed that the assessee earned interest income of Rs. 1,24,19,908/- from the fixed deposits, interest earned on loans and advances to members amounting to Rs. 20,73,274/-, gross profit of Rs. 66,02,989/-, dividend on other investments of Rs. 2,96,845/-, interest on deposits with banks/institutions of Rs. 1,24,19,908/-, miscellaneous income of Rs. 2,48,383/-, rental income of Rs. 750/-; totalling to Rs. 2,17,42,150/-. The assessee has claimed various expenses and after that it calculated total income of Rs. 57,03,533/- and claimed deduction of Rs. 57,03,533/- u/s 80P(2)( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Samabay Krishi Unnayan Samity Ltd. reported in [2023] 147 taxmann.com 518 (Cal), wherein, it was held that interest earned by the cooperative society on surplus funds invested in deposits with bank and Govt. securities is qualified for deduction u/s 80P(2)(a)(i) of the Act. The ld. AR also relied on the decision of Coordinate Kolkata Bench of the Tribunal in the case of Haldia Port Employees Cooperative Credit Society Ltd. in ITA No.624 & 625/Kol/2024, on similar issue, the Tribunal allowed the appeal of the assessee. 6. On the other hand, the ld. DR objected to the claim of the assessee and supported the findings of the Assessing Officer and views taken by the ld. CIT(A) stating that the orders of the lower authorities were passed corre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erest provisions was never raised for an issue in scrutiny and the Assessing Officer without converting limited scrutiny to complete scrutiny cannot go beyond the scope of limited scrutiny. Therefore, the addition made by the Assessing Officer on this issue was bad in law. The provision for overdue interest was made after applying various provisions as the amount in question had not been recovered for a continuous period of six years. Therefore, the assessee debited the amount in its profit & loss account. The ld. AR prayed that the alleged addition made by the Assessing Officer was not correct and the view taken by the ld. CIT(A) on this issue was also not correct. 10. We, after considering the rival submissions and perusing the material ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on an issue which is not raised in the original assessment order without giving the assessee an opportunity to respond. In the present issue, without giving notice to the assessee, the alleged addition was made by the ld. CIT(A) suo moto which is not in accordance with law. Consequently, the additions of Rs. 2,49,133/- on miscellaneous income and rental income of Rs. 750/- are hereby deleted. 14. In terms of the above, ITA No.2053/Kol/2024 of the assessee is allowed. 15. Since the facts and issues involved in all the captioned appeals are identical, therefore, our findings/directions given above in ITA No.2053/Kol/2024 will mutatis mutandis apply to the other appeals also i.e. I.T.A. Nos.1635, 1634, 1633 &1632/Kol/2024. Hence, I.T.A. Nos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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