PAYYOLI SERVICE CO-OPERATIVE BANK LTD.,PAYYOLI, KOZHIKODE vs. ITO, WARD-2(2), KOZHIKODE

Brief facts of the case are that the assessee is a co-operative society registered under the Kerala State Co-operative Societies Act, 1969. It is classified as a primary agricultural credit co-operative society. It is engaged in the business of accepting deposits from members and providing credit facilities to members. The return of Payyoli Service Co-op. Bank Ltd. income for AY 2018-19 was filed on 29.10.2018 declaring total income of Rs. 76,180/-. Against the said return of income, the assessment was completed by the National Faceless Assessment Centre (hereinafter called "the AO") vide order dated 01.06.2021 passed u/s. 143(3) r.w.s. 144B of the Income Tax Act, 1961 (the Act) at total income of Rs. 8,25,31,608/-. While doing so, the AO disallowed the claim for deduction u/s. 80P of the Act.

Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order confirmed the action of the AO.

Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal.

At the outset we find that there is a delay of 676 days in filing the appeal. The appellant filed a petition seeking condonation of delay by stating that the delay had occurred, due to the outbreak of Covid 19 pandemic, which affected the Secretary of the Bank and many other officials. We have carefully gone through the averments made in the petition seeking condemnation of delay. From the averments made in the petition it is clear that the appellant had not shown any sufficient cause for the delay except the period covered by Covid-19. The appellant had not explained the reason for the delay for post Covid period. Thus, the averments made in the petition seeking condonation are not genuine and does not really explain the reasons for the delay with evidence. Therefore, we are of the considered opinion that it is not a fit case to condone the delay of 676 days. Keeping in view the decision of the Payyoli Service Co-op. Bank Ltd. Hon'ble Supreme Court in the case of Mrinmoy Maity v. Chhanda Koley [2024] SCC OnLine SC 551 wherein the Hon’ble Supreme Court observed that an litigant who approach the court belatedly or in other words sleeps over his rights for a considerable period of time, wakes up from his deep slumber ought not to be granted the extraordinary relief as delay is defined as guilty. The appeal stands dismissed on the ground of latches and delay