Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI
Before: SHRI MANOJ KUMAR AGGARWAL & SHRI MANOMOHAN DAS
O R D E R PER MANOMOHAN DAS, J.M: Aforesaid appeal by assessee for Assessment Year (AY) 2018- 19 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 14-11-2022 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 143(3) of the Act on 12-04-2021. The subject matter of the appeal is the denial of deduction u/s 80P of the :- 2 -: Act for late filing of return of income beyond due date u/s 139(1) invoking the provisions of Sec.80AC.
The Registry has noted delay of 87 days in the appeal. The assessee prayed for condonation of delay. An Affidavit for condonation of delay is filed by the assessee. Though Ld. Sr. DR opposed condonation of delay, the bench formed an opinion that the delay was to be condoned and accordingly, the appeal is admitted for adjudication on merits.
Heard the representatives of the both the parties and perused the materials available on record. The Ld. AR submitted that the audit report could not be filed by the assessee in time as the audit report from the auditor of the Co-operative Department received with a delay.
The Ld. AR submitted that the audit of the assessee cooperative society has been done by the auditor of the cooperative society as per the provision of the Tamilnadu Cooperative Society Act and due to administrative reasons, delay takes place in auditing the accounts of the assessee. There was no fault on the part of the assessee as the assessee cannot file the return of income without receiving the audit report. Hence, there was a delay in filing of the return of income due to late receiving of the audit report. The Ld. Sr. DR, on the other hand, submitted a copy of the CBDT Circular No. 13/2023 dated 26th July, :- 3 -: 2023 for our consideration on the issue and submitted that the assessee may approach appropriate authority to seek condonation of delay. The ld. DR also submitted that the assessee has to strictly comply the provisions of the IT Act as held by Hon’ble Supreme Court in the case of Commissioner of Customs (Import) v. M/s Dilip Kumar and Company (2018) 95 Taxmann.com 327 (SC) wherein it was held that tax exemption provision of an Act should be interpreted strictly.