Denial of Immunity from Penalty u/s 270A to Co-operative Bank: ITAT Remands Matter to AO [Read Order]
It was observed that both the AO and CIT(A) failed to examine the immunity request, prompting the tribunal to remand the case to the AO for reconsideration while keeping all contentions open
The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Assessing Officer (AO) after noting that the denial of immunity from penalty under Section 270A of Income Tax Act,1961 to Co-operative Bank was not properly considered. Malanadu Co-op. Agriculture and Rural Development Bank Ltd,appellant-assessee,a co-operative society registered under the…
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