Section 68 Addition Deleted as Cooperative Society Accepted Deposits from Its Own Members

Sree Narayana Guru Cooperative And Credit Society Limited Vs ITO (ITAT Delhi) The appeals were filed by the assessee against the order dated 30.06.2025 passed by the Commissioner of Income-tax (Appeals)/National Faceless Appeal Centre for Assessment Year 2012-13. As the issues were common, they were heard together. The case was reopened under Section 147 on the basis of AIR information indicating cash deposits of Rs. 1,51,25,143 in a bank account. The assessee had not initially filed a return for the relevant year. In response to notice under Section 148, the assessee filed a return declaring ...