TMI Blog2017 (8) TMI 283X X X X Extracts X X X X X X X X Extracts X X X X ..... count in detail. Therefore, in the facts and circumstances of the case in hand, it would be appropriate to remand the matter back to the Assessing Officer to decide it afresh after affording an opportunity to produce the books of account who shall thereupon after examining them record his findings afresh thereon. - ITA No. 212 of 2015 (O&M) - - - Dated:- 10-5-2017 - MR. AJAY KUMAR MITTAL AND MR. HARINDER SINGH SIDHU, JJ. For The Appellant-Revenue : Mr. Tejinder K. Joshi, Senior Standing counsel For The Respondent : Mr. Aman Bansal, Advocate ORDER Ajay Kumar Mittal,J. 1. The delay in refiling the appeal is condoned. 2. The appellant-revenue has filed the instant appeal under Section 260A of the Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... During the course of assessment proceedings, the assessee neither attended the proceedings nor furnished any information with regard to its business activities conducted. It did not furnish its memorandum of association and copy of aims and objects. The Assessing Officer observed that in the return, it had not been mentioned that the assessee society was being run on the concept of mutuality. It was further observed that in case of a mutual society or concern, there must be complete identity between the class of contributors and class of participants and thus the arrangement and relationship between the society and its members should be of non trading character. The Assessing Officer relied upon the decision of the Apex Court in CIT Vs. B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest received from Corporation bank and ₹ 23,506/- as interest from OBC. The other additions made by the Assessing Officer were deleted by the CIT(A) with the observation that the Assessing Officer denied the benefit of concept of mutuality to the assessee on the ground that the claim of application of this concept had nowhere been mentioned in the return of income though the auditors had advised the assessee that the principle of mutuality applied to it. Not satisfied with the order passed by the CIT(A), the assessee filed an appeal before the Tribunal. The Tribunal following the view taken by the CIT(A) with regard to mutuality of the concern observed that the assessee was a cooperative society with a common purpose and for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st the order passed by the Tribunal. The appeal filed by the assessee was allowed whereas the appeal filed by the revenue was partly allowed. 6. In the present case, the assessee could not appear before the Assessing Officer and furnish details of the books of account. The assessee had furnished plausible explanation for its non-appearance before the Assessing Officer as is discernible from the perusal of para 3 of the order of CIT(A). Further, on the issues raised by the assessee before the CIT(A) and the Tribunal, the findings are required to be recorded by examining the books of account in detail. Therefore, in the facts and circumstances of the case in hand, it would be appropriate to remand the matter back to the Assessing Officer t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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