UDAGUDI PRIMARY AGRI CO-OP BANK LTD. EE-423,TUTICORIN vs. ITO, WARD-2,, TUTICORIN

The only effective ground of appeal in this appeal of assessee is against the order of Ld. CIT(A) in confirming the disallowance of Rs. 42,64,325/- claimed u/s. 80P of the Act.

The assessee is a co-operative society and filed return of income on 30.03.2019 declaring total income at Nil. The assessee in the return of income has claimed deduction u/s. 80P of the Act of Rs.

42,64,325/-. The A.O in the assessment order passed u/s. 143(3) of the Act has disallowed the claim of deduction u/s. 80P of the Act as the assessee has not responded to the notices issued u/s. 142(1) of the Act requesting to file necessary details or evidence in support of its claim. On appeal, the Ld. CIT(A) has confirmed the disallowance. The Ld. CIT(A) has further noted that return was filed on 30.03.2019 as against due date on 30.09.2019 which means the return was filed belated and as per Section 80AC, the assessee is not eligible for the claim u/s. 80P of the Act.

The Ld. Authorized Representative (A.R) of the assessee has submitted that the assessee has filed a petition for condonation of delay in filing return of income u/s. 119(2)(b) of the Act, which is pending before CBDT. The Ld. AR has submitted that the Ld. CIT(A) has decided the appeal without considering the fact that the assessee’s petition for condonation of delay in filing return is pending before the Board. The Ld. AR therefore requested that the order of Ld. CIT(A) may be set aside and he may be directed to decide the appeal after decision of CBDT.