PUNJAILAKALAMANGALAM PRIMARY AGRICULTURAL COOP CREDIT SOCIETY LTD K 484,ERODE vs. ITO, WARD 2(1), ERODE

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ITA 2370/CHNY/2026Status: DisposedITAT Chennai17 June 2026AY 2023-244 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the condonation petition has a direct bearing on the claim of deduction under Section 80P. Therefore, the case was restored to the AO to await the decision on the condonation application.

What were the facts?

The assessee, a co-operative society, filed its return of income belatedly. The deduction claimed under Section 80P was disallowed by the CPC and confirmed by the FAA on the grounds of delayed filing. The assessee has filed a condonation petition under Section 119(2)(b) before the CCIT.

What were the issues?

Whether the deduction under Section 80P is allowable when the return of income is filed belatedly, and if a pending condonation petition under Section 119(2)(b) warrants restoration of the case.

Which sections of the Income-tax Act were involved?

Section 80P,Section 139,Section 143(1),Section 250,Section 119(2)(b)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH, CHENNAI

Before: SHRI GEORGE GEORGE K & SHRI S.R. RAGHUNATHA

Hearing: 17.06.2026Pronounced: 17.06.2026

आदेश/ O R D E R PER GEORGE GEORGE K, VICE PRESIDENT: This appeal filed by the assessee is directed against the Addl/JCIT(A), Agra order dated 27.02.2026 passed under section 250 of the Income Tax Act, 1961 (hereinafter called ‘the Act’). The relevant Assessment Year is 2023-24.

ITA No.2370/CHNY/2026 - 2 - Punjaikalamangalam Primary Agrl. Co Op Credit Society 2. Brief facts of the case are as follows: The assessee is a Co- operative society registered under The Tamilnadu Cooperative Societies Act, 1983. For the relevant assessment year 2023-24, the assessee society has filed its return of income belatedly on 28.09.2024. The return was processed by the CPC, which issued an intimation under section 143(1) of the Act dated 15.12.2025, wherein the deduction claimed under section 80P of the Act was disallowed on the ground that the return of income was not filed within the time prescribed u/s. 139 of the Act.

3.

Aggrieved by the intimation issued u/s.143(1) of the Act, the assessee filed appeal before the First Appellate Authority (‘FAA’). After considering the submissions of the assessee, the FAA confirmed the order of the AO.

4.

Aggrieved by the order of the FAA, the assessee has filed the present appeal before the Tribunal. The Ld.AR submitted that the assessee has filed a condonation petition dated 07.01.2026 before the CCIT, Coimbatore u/s.119(2)(b) of the Act praying for condonation of delay in filing return of income u/s.139(1) of the Act, which is presently pending for consideration. It was further submitted that since the condonation petition u/s. 119(2)(b) of the

ITA No.2370/CHNY/2026 - 3 - Punjaikalamangalam Primary Agrl. Co Op Credit Society Act before the competent authority has a direct bearing, the matter may be restored to the files of the AO to await the decision of the Competent Authority on the condonation application filed in terms of section 119(2)(b) of the Act.

5.

The Ld.DR supported the order of the FAA.

6.

We have heard rival submissions and perused the material on record. The assessee had approached the Competent Authority u/s.119(2)(b) of the Act for condonation of delay in filing return of income u/s.139(1) of the Act. The assessee’s application for condonation of delay u/s.119(2)(b) of the Act has a direct bearing as regards the claim of deduction u/s.80P of the Act. In event the competent authority condones the delay in filing the return of income filed by the assessee necessarily the claim of deduction u/s.80P of the Act has to be considered on merits by the concerned AO. Since the assessee’s application of condonation of delay in filing the return of income is pending consideration before the Competent Authority, we deem it appropriate to restore the case to the files of the AO. The AO is directed to pass afresh order after the Competent Authority has passed the order regarding the assessee’s

ITA No.2370/CHNY/2026 - 4 - Punjaikalamangalam Primary Agrl. Co Op Credit Society petition for condonation of delay in filing the return of income. It is ordered accordingly.

7.

In the result, the appeal filed by the assessee is allowed for statistical purposes.

Order pronounced in the open court on 17th June,2026 at Chennai.

Sd/- Sd/- (एस.आर. रघुनाथा) (जॉज� जॉज� के) (GEORGE GEORGE K) (S.R. RAGHUNATHA) उपा�य� /VICE PRESIDENT लेखा सद�य/ACCOUNTANT MEMBER चे�नई/Chennai, �दनांक/Dated, the 17th June, 2026 RSR, Sr.PS आदेश क� ��त�ल�प अ�े�षत/Copy to: 1. अपीलाथ�/Appellant 2. ��यथ�/Respondent 3. आयकर आयु�त /CIT, Coimbatore 4. �वभागीय ��त�न�ध/DR 5. गाड� फाईल/GF. By Order

Digitally signed by REKHA REKHA SENTHIL RAJ SENTHIL RAJ Date: 2026.06.22 12:25:42 +05'30'

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