Hex Blox Co Operative Hsg. Soc. Ltd. Vs DCIT (ITAT Pune)
The Pune ITAT dismissed the appeal filed by Hex Blox Co Operative Hsg. Soc. Ltd. against the order of the CIT(A), NFAC, Delhi, for AY 2016-17. The appeal arose from an assessment order under Section 143(3) dated 10.12.2018 and the CIT(A)’s order under Section 250 dated 25.11.2024. The assessee had filed its return on 10.03.2017 declaring total income of ₹49,010 after claiming a deduction of ₹93,77,779 under Section 80P of the Income-tax Act, 1961. During scrutiny, the Assessing Officer issued notices under Sections 143(2) and 142(1). According to the assessee, the assessment was effectively completed ex parte because there was no response to the notices.
The Assessing Officer issued a notice under Section 133(6) to PMC Bank and obtained an interest certificate showing interest of ₹50,92,635 credited to the assessee’s account. The Assessing Officer allowed deduction under Section 80P to that extent but disallowed the balance ₹42,85,144 for want of documentary evidence. Before the CIT(A), the assessee contended that the Assessing Officer should also have obtained details from Saraswat Bank and that the assessment lacked adequate verification. The CIT(A), however, sustained the ₹42,85,144 disallowance, noting that the assessee had failed to furnish the required supporting documents. The assessee subsequently appealed to the Tribunal.
