MEHERINA CO-OPERATIVE HOUSING SOCIETY,MUMBAI vs. INCOME TAX OFFICER, PIRAMAL CHAMBER, MUMBAI
Income Tax Appellate Tribunal, MUMBAI “J(SMC
Before: SHRI VIKRAM SINGH YADAV & SHRI ANIKESH BANERJEEAssessment Year : 2021-22
PER VIKRAM SINGH YADAV, A.M :
This is an appeal filed by the assessee against the order of the Ld.
Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre
(NFAC), Delhi [„Ld.CIT(A)‟], dated 21-10-2024, pertaining to Assessment
Year (AY) 2021-22, wherein the assessee has taken the following grounds of appeal:
“GROUND NO. I: DENIAL OF DEDUCTION U/S. 80P OF THE ACT:
1.1 On the facts and in the circumstances of the case and in law, the ld.
CIT(A) erred in upholding the action of Id. AO in not granting deduction of Rs. 8,47,080/- u/s. 80P of the Act in respect of interest income derived from Cooperative banks.
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1.2 The Appellant prays that the deduction claimed u/s. 80P of the Act be allowed.
GROUND NO. II: LEVY OF INTEREST U/S. 234B & 234C OF THE ACT:
2.1 On the facts and in the circumstance of the case and in law, the Hon'ble CIT(A) erred in upholding the action of ld. AO in charging interest u/s. 234B and 234C of the Act.
2.2 The Appellant prays that the levy of interest u/s. 234B and 234C of the Act be deleted/appropriately reduced.”
At the outset, it is noted that there is a delay of 76 days in filing the appeal as pointed out by the Registry. After hearing both the parities and perusing the facts placed on record, we find that there is a reasonable cause for the delay in filing the present appeal and hence, the delay is hereby condoned and appeal is admitted for adjudication.
Briefly the facts of the case are that the assessee is a registered Co-operative Housing society registered with