SEWA SAHAKARI SAMITI MARYADIT JAMNER,GUNA vs. ITO, GUNA

This assessee’s appeal for Assessment Year 2018-19, arises against the CIT(A)/NFAC, Delhi’s DIN & order No. ITBA/NFAC/S/250/2022-23/1049285838(1) dated 31.03.2023, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”).

Heard both the parties at length. Case file perused.

It emerges during the course of hearing with the able assistance coming from the assessee and the Revenue side that both the learned lower authorities have disallowed the assessee’s section 80P deduction claim amounting to

We have given our thoughtful consideration to the assessee’s and the Revenue’s respective stands. We find no reason to sustain the impugned disallowance. This is for the precise reason that section 80AC has undergone the statutory amendment to this effect that the concerned assessee to file the return on or before the due date prescribed u/s 139(1) vide the Finance Act, 2018 w.e.f. 01.04.2018 whereas we are in assessment year 2018-19. There is no indication coming from the Revenue side that the above aforesaid amendment carries any retrospective effect. That being the case, we accordingly hold that both the learned lower authorities have erred in law and on facts in declining the assessee’s section 80P deduction for the foregoing sole reason. Ordered accordingly.