ITAT Cochin Restores Case to CIT(A) for failure to Rule on Merits in Penalty Dispute

Cardamon Planters Marketing Co-op Society Ltd. Vs DCIT (ITAT Cochin) The Cardamon Planters Marketing Co-op Society Ltd. faced a penalty levied under Section 270A of the Income Tax Act, 1961, due to a discrepancy in the deduction claimed under Section 80P and the deduction allowed by the Assessing Officer (AO). The AO had initiated penalty proceedings following an assessment that increased the society’s total income. The core issue revolved around the society’s application for immunity from this penalty, which was denied because they failed to file Form 28, the prescribed applicatio...