CIT(A) Must Decide even Ex Parte Appeals on Merits: ITAT Cochin

SIB Staff Credit Society Ltd Vs ITO (ITAT Cochin) In the case of SIB Staff Credit Society Ltd vs. ITO (ITAT Cochin), the appellant, a cooperative society registered under the Kerala State Co-operative Societies Act, challenged the Income Tax Officer’s (ITO) decision denying its claim for a deduction under Section 80P of the Income Tax Act for the Assessment Year (AY) 2020-21. The appellant filed its return of income on December 9, 2020, declaring a nil income after claiming a deduction of ₹61,13,148 under Section 80P. However, the ITO completed the assessment under Section 143(3) and Secti...