K864 MURALI CHENNAMPATTI PRIMARY AGRICULTURE CO-OP CREDIT SOCIETY,ERODE vs. INCOME TAX OFFICER, WARD 2(1), ERODE, ERODE

ITA 681/CHNY/2025Status: DisposedITAT Chennai03 June 2025AY 2012-13Bench: SHRI GEORGE GEORGE K, VICE PRESIDENTAND SHRI S.R. RAGHUNATHA (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that 'associate/nominal members' are considered 'members' under the Tamil Nadu Co-operative Societies Act, thus not violating the principle of mutuality. It also held that a claim for deduction under Section 80P made in a belatedly filed return is valid.

What were the facts?

The assessee, a primary agricultural co-operative credit society, did not file a return of income for AY 2012-13. A return was filed belatedly after a notice under Section 148, claiming deduction under Section 80P. The AO disallowed the deduction, and the CIT(A) dismissed the appeal, enhancing the assessed income.

What were the issues?

Whether the society is eligible for deduction under Section 80P when dealing with nominal members, and whether a deduction claim made in a belatedly filed return is valid.

Which sections of the Income-tax Act were involved?

Section 80P,Section 80A(5),Section 148,Section 143(3),Section 147

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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI

Before: SHRI GEORGE GEORGE KAND SHRI S.R. RAGHUNATHA

Hearing: 03.06.2025Pronounced: 03.06.2025

PER GEORGE GEORGE K, VICE PRESIDENT:

This appeal at the instance of the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 15.01.2025, passed under section 250 of the Income Tax Act, 1961 (hereinafter called ‘the Act’). The relevant Assessment Year is 2012-13. 2. The grounds raised by the assessee read as follows:-

The order continues below.

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