Angamaly Service Co-operative Bank Ltd. v. ITO (2025) 212 ITD 288 (Cochin) (Trib.)

S. 80P : Co-operative societies-Return was not filed within due date-PCIT condoned the delay-issue was to be remitted to Assessing Officer.[S.80AC, 119, 139(1)]

Assessee, co-operative society, could not file return within due date-Assessing Officer issued reopening notice. the Assessing Officer disallowed the  deduction on ground that assessee did not file return within due date specified in section 139(1).CIT(A) has up held the order of the Assessing Officer. On appeal the  Tribunal held that  the   assessee had filed a condonation petition before Principal Commissioner who condoned delay in filing return for assessment year 2019-20 beyond due date specified under section 139(1).  Accordingly the  issue was to be remitted to Assessing Officer with a direction to give effect of order of Principal Commissioner and pass necessary order after due verification allowing deduction as claimed by assessee under section 80P. (AY. 2009-10)

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