PUNNAYURKULAM SERVICE CO OPERATIVE BANK LTD NO P 417,PUNNAYURKULAM vs. INCOME TAX OFFICER, GURUVAYUR
Facts
The assessee, a co-operative society, filed its return for AY 2023-24 claiming deduction under Section 80P(2)(a)(i) after the due date prescribed u/s 139(1). The CPC disallowed the Section 80P deduction u/s 143(1) read with Section 80AC due to late filing. The CIT(A) confirmed the disallowance.
Held
The Tribunal ruled it has no power to condone the delay in filing the return of income. It upheld the CPC's disallowance of the Section 80P deduction, as the return was not filed within the statutory due date as required by Section 80AC.
Key Issues
Can the ITAT condone a delay in filing an income tax return for claiming Section 80P deduction? Is a Section 80P deduction allowable if the return is filed after the due date, as per Section 80AC?
Sections Cited
80P(2)(a)(i), 143(1), 139(1), 80AC
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI INTURI RAMA RAO, AM & SHRI PRAKASH CHAND YADAV, JM
IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH BEFORE SHRI INTURI RAMA RAO, AM AND SHRI PRAKASH CHAND YADAV, JM ITA No. 1053/Coch/2024 Assessment Year: 2023-24 Punnayurkulam Service Co-op. Bank Ltd. .......... Appellant Punnayurkulam, Thrissur 679561 [PAN: AACAP6129J] vs. The Income Tax Officer, Ward -1 & TPS .......... Respondent Guruvayur Appellant by: Shri Ramdas M., CA Respondent by: Smt. Leena Lal, Sr. D.R. Date of Hearing: 21.05.2025 Date of Pronouncement: 27.06.2025
O R D E R Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-4, Chennai [CIT(A)] dated 23.10.2024 for Assessment Year (AY) 2023-24.
Brief facts of the case are that the appellant is a co-operative society registered under the Kerala State Co-operative Societies Act, 1969. It is classified as the primary agricultural credit co-operative
2 ITA No. 1053/Coch/2024 Punnayurkulam Service Co-op. Bank Ltd. society. The return of income for AY 2023-24 was filed on 13.12.2023 disclosing Nil income after claiming deduction u/s. 80P(2)(a)(i) of the Income Tax Act, 1961 (the Act). Against the said return of income, the assessment was completed by the CPC u/s. 143(1) vide intimation dated 24.04.2024 by making adjustment of disallowance claimed for deduction u/s. 80P of the Act for the reason that the return was not filed within the due date prescribed u/s. 139(1) of the Act placing reliance on the provisions of section 80AC 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 time of hearing of the appeal, the learned counsel for the assessee submitted that the appellant had filed a petition seeking condonation of delay before the Pr. Commissioner of Income Tax, which is pending disposal. We are of the considered opinion that the Tribunal has no power to condone the delay in filing return of income and the CPC had rightly made adjustment by disallowing the deduction u/s. 80P of the Act as the return of income was not filed within the due date.
3 ITA No. 1053/Coch/2024 Punnayurkulam Service Co-op. Bank Ltd. 6. In the result, the appeal filed by the assessee stands dismissed.
Order pronounced in the open court on 27th June, 2025.
Sd/- Sd/- (PRAKASH CHAND YADAV) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER Cochin, Dated: 27th June, 2025 n.p. Copy to: 1. The Appellant 2. The Respondent 3. The Pr. CIT concerned 4. The Sr. DR, ITAT, Cochin 5. Guard File Assistant Registrar ITAT, Cochin
