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TMI Blog2024 (12) TMI 123X X X X Extracts X X X X X X X X Extracts X X X X ..... dit facilities to their members. 3. The case of the petitioner is that the petitioner is entitled to the deduction under Section 80P(2)(d) of the Income Tax Act, 1961 (hereinafter called as 'Act'). The petitioner has made investment in the Co-operative Banks, from whom, he has received interest and therefore, the case of the petitioner is that the petitioner is entitled to the deduction under Section 80P(2)(d) of the Act, on the interest received from the Co-operative Banks. 4. The petitioner has blamed his Auditor for not filing the regular Returns under Section 139(4) of the Act. The petitioner was, therefore, issued with notice under Section 148A(d) of the Act, which was also not responded by the petitioner and ultimately, it was culmi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clause (xii) was received from the National Faceless Assessment Centre make a Draft Assessment Order to the best of its judgment, either accepting the income or was payable or was refundable to the assessee as per his Return or making such variation to the said income or same and send a copy of the said order to the National Faceless Assessment Centre. ..... 14. It is evident that under Sub clause (xvi) to Sub section (1) to Section 144B of the Income Tax Act, 1961, as it stood in case any variation prejudicial to the interest of the assessee, the National Faceless Assessment Centre is required to serve a notice calling upon the assessee to Show Cause as to why the proposed variation should not be made. 15. As impugned order has been p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng considered the submissions made by the learned counsel for the petitioner and the learned Standing Counsel for the respondent, the Court is of the view that the final issue relating to the availability of exemption under Section 80P(2)(d) of the Act, cannot be decided under Article 226 of the Constitution of India. 14. In this case, no doubt the petitioner has neglected. However, the petitioner does deserve one more opportunity to went out his grievances in the re-assessment proceedings. Therefore, the case is remitted back to the respondent to pass fresh orders on merits and in accordance with law from the stage of show cause notice after the issuance of Section 148 notices to the petitioner, since the petitioner has neglected by not f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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