ITAT Chennai Dismisses Appeal as Reassessment Made No Fresh Additions

Kumbakonam Central Cooperative Bank Vs DCIT (ITAT Chennai) The ITAT Chennai dismissed the assessee’s appeals for Assessment Years 2013-14 and 2020-21, upholding the orders of the Commissioner of Income Tax (Appeals). For AY 2013-14, the dispute arose from an addition of ₹9.66 crore on account of disallowance of bad debts made in the original assessment order passed under Section 143(3). The assessee did not challenge that order before any appellate authority. Subsequently, the Assessing Officer reopened the assessment under Section 147 to verify the claim for deduction under Section 36...