THE PENUGANCHIPROLU PRIMARY AGRI CO OP CREDIT SOCIETY LIMITED,KRISHNA DIST vs. INCOME TAX OFFICER, WARD-1(1), VIJAYAWADA

ITA 530/VIZ/2025Status: DisposedITAT Visakhapatnam19 August 2026AY 2017-1812 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the deduction under Section 80P should be allowed as the mandatory filing date requirement under Section 80AC was amended and not applicable for the assessment year in question. Regarding the cash deposits, the issue was remanded for verification of sources.

What were the facts?

The assessee, a cooperative society, failed to file its return of income by the due date. Subsequently, the Assessing Officer made additions for unexplained cash deposits and disallowed a deduction under Section 80P. The CIT(A) upheld these actions, leading to the present appeal.

What were the issues?

Whether the deduction under Section 80P is admissible when the return was not filed by the due date, and whether additions for unexplained cash deposits under Section 68 are justified without proper verification.

Which sections of the Income-tax Act were involved?

Section 80P,Section 139,Section 144,Section 148,Section 68,Section 115BBE,Section 143(2),Section 80A(5),Section 80AC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI VIJAY PAL RAO, HON’BLE & SHRI MANJUNATHA G, HON’BLE

For Respondent: Shri A.P.Babu, Sr AR

PER MANJUNATHA G, AM: This appeal is filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [hereinafter in short “Ld. CIT(A)”] vide DIN: ITBA/NFAC/S/250/2024- 25/1071738761(1) dated 31-Dec-2024 for the Assessment Year 2017-18. ITA 530/VIZ/2025 THE PENUGANCHIPROLU

The order continues below.

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