OMASSERY MERCANTIL CO-OPERATIVE SOCITY LTD.,KOZHIKODE vs. THE INCOME TAX OFFICER, WARD2(3), KOZHIKODE

It appears at the outset that there is hardly had any need for us to give detailed consideration to the assessee’s sole substantive grievance seeking to reverse both the learned lower authorities action disallowing its section 80P deduction claimed by way of section 143(1)(a)(v) “processing” . Omassery Mercantile Co-op Society Ltd. dated 16.04.2020 as upheld in the lower appellate ex-parte discussion. This is for the precise reason that the legislature has amended section 143(1)(a)(v) enabling provision to this effect by way of amendment in the Finance Act, 2021 w.e.f. 01.04.2021 whereas the impugned assessment order is AY 2019-20. Meaning thereby that both the learned lower authorities could not have invoked s.143(1)(a)(v) “processing” retrospectively for disallowing assessee’s impugned section 80P deduction. We accept the assessee’s instant sole substantive ground in very terms. Ordered accordingly. Accordingly, assessee’s appeal is allowed.