THE VATTANATHRA SERVICE CO-OP SOCIETY LTD,THRISSUR vs. THE ITO WARD 2(1), THRISSUR

It emerges during the course of hearing in the assessee’s “lead” appeal ITA.No.539/Coch./2023 for assessment year 2010-2011 that both the learned lower authorities have quoted sec.80A(5) for rejecting assessee’s sec.80P deduction claim on the ground that it had filed its return claiming the same “belatedly”.

Learned DR strongly relies upon the CIT(A)’s lower appellate discussion seeking to distinguish the hon’ble jurisdictional high court decision in Chirakkal Service Co- operative Bank Ltd. v. CIT [(2016) 384 ITR 490 (Ker.)]. by way of some other judgments wherein 80A(5) was nowhere applicable.

Faced with this situation, we are of the considered view that even a belated return, prior to sec.80AC amendment w.e.f. 01.04.2018, is eligible for 80P deduction and therefore, there is no reason for us to uphold ld.CIT(A)’s findings herein. We thus deem it appropriate to restore the assessee’s instant appeal back to the CIT(A) for fresh decision on merits in above terms. Ordered accordingly.

The assessee’s latter appeal ITA.No.540/Coch./2023 also follows the suit since involving sec.154 consequential rectification. Ordered accordingly.

& 539 along with SA.Nos.114 & 113/Coch/2023. The Vattanathra SC.B Limited. 6. These assessee’s twin appeals ITA.Nos.539 & 540/Coch /2023 are allowed for statistical purposes and it’s stay applications SA.Nos.113 & 114/Coch/2023 are dismissed as rendered infructuous. A copy of this common order be placed in the respective case files.