KODANCHERY PANCHAYATH VANITH CO-OPERATIVE SOCIETY LTD NO.D- 2853,KOZHIKODE vs. WARD 2(3) KOZHIKODE , KOZHIKODE

It emerges during the course of hearing at the outset that there is hardly any need for us to delve with the relevant factual matrix at length once it has come on record that both the learned lower authorities, more particularly, Assessing Officer [DCIT-CPC, Bangalore], have disallowed the assessee’s sec.80P deduction claim Kodanchery Panchayath Vanitha Co-op. Society Ltd. involving “processing” u/sec.143(1)(a)(v) of the Act. This is for the precise reason that the Finance Act, 2021 had in fact inserted the necessary amendment to this effect w.e.f. 01.04.2021 carrying prospective operation only whereas we are in assessment year 2018-2019.

This tribunal’s recent coordinate bench order in ITA.No.62/NAG/2022 ITO vs. Nagpur Zilla Parishad Primary Shikshah Sahakari Sanstha Maryadit, Nagpur has rejected the Revenue’s very contentions as under : “3. Learned CIT-DR vehemently reiterated the Revenue’s above extracted pleadings that the CIT(A) has erred in law and on facts in holding the assessee eligible for it’s sec.80P deduction despite the fact that it had not filed it’s return within the “due date” prescribed u/sec.139(1) of the Act. Mr. Kanojiya referred to sec.80AC (ii) that the same is in the nature of a mandatory provision which disentitles the assessee from claiming sec.80P deduction and therefore, the CPC’s processing dated 29.05.2020 herein had rightly rejected the assessee’s claim u/sec.143(1)(a)(v) of the Act.

This Revenue’s appeal is dismissed in above terms.”

We thus adopt judicial consistency to reverse the learned lower authorities action disallowing assessee’s impugned deduction claim(s) by way of sec.143(1)(a)(v) processing in very terms. The assessee succeeds in it’s instant first