AA511 KANDAPPA GOUNDEN VALASU PRIMARY AGRICULTURAL CO-OPERATIVE CREDIT SOCIETY,ERODE vs. ITO, WARD-2(1), ERODE, ERODE

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ITA 1109/CHNY/2023Status: DisposedITAT Chennai20 December 2023AY 2018-182 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the assessee's condonation petition under Section 119(2)(b) was allowed by the appropriate authority. Consequently, the Tribunal directed the CIT(A) to pass a fresh order considering this development.

What were the facts?

The assessee's claim for deduction under Section 80P was denied by the Assessing Officer due to a belated filing of the income tax return. The CIT(A) confirmed this assessment.

What were the issues?

Whether the belated filing of the return of income should disentitle the assessee from claiming deduction under Section 80P, especially when condonation has been granted.

Which sections of the Income-tax Act were involved?

Section 80P,Section 119(2)(b),Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI

Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI MANOMOHAN DAS

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.

The sole grievance of the assessee, in the captioned appeal, is denial of deduction u/s 80P by learned Assessing Officer while framing an assessment u/s 143(3) on 05.01.2021. This was due to the fact that the return of income was filed belatedly with a delay of approx. 5 months.

The Ld. CIT(A), vide impugned order dated 21.08.2023, confirmed the assessment against which the assessee is in further appeal before us. 2. The Ld. AR placed on record order dated 19.12.2023, passed in assessee’s condonation petition filed u/s 119(2)(b). The petition of the assessee has been allowed by appropriate authority vide para-6 of the order. Considering the same, we direct Ld. CIT(A) to pass fresh order in the light of this order. 3. The appeal stand allowed for statistical purposes.

Order pronounced in open court on 20th December, 2023.

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