PERINGOTTUKURUSSI SERVICE CO-OPERATIVE BANK LTD,PALAKKAD vs. THE ITO WARD-5, PALAKKAD

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ITA 362/COCH/2023Status: DisposedITAT Cochin12 September 2024AY 2011-12Bench: Shri Satbeer Singh Godara (Judicial Member), Shri Amarjit Singh (Accountant Member)2 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that Section 80A(5) is attracted when a deduction is claimed in a return filed after the assessment order has been framed. The assessee's claim for deduction was therefore invalid.

What were the facts?

The assessee claimed a deduction under Section 80P on 21.07.2018, but the assessment order was framed on 19.12.2016. The assessee's appeal pertains to the disallowance of this deduction.

What were the issues?

Whether the assessee is eligible for Section 80P deduction when the claim is made after the assessment order is framed, and if Section 80A(5) bars such a claim.

Which sections of the Income-tax Act were involved?

Section 80P,Section 80A(5),Section 144,Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: Smt. Swarnalatha, Sr. D.R
Hearing: 12.08.2024Pronounced: 12.09.2024

O R D E R Per Bench This assessee’s appeal for A.Y. 2011-12 arises against the order of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 28.04.2023, in proceedings u/s. 144 R.W.S. 147 of the Income Tax Act, 1961 (hereinafter "the Act").

Heard both parties. Case file perused.

2.

Coming to the assessee’s sole substantive grievance seeking to delete the s. 80P deduction/disallowance of Rs. 21,99,430/-, it emerges at the outset that the assessee had filed its return claiming the deduction on 21.07.2018 whereas the AO had framed the assessment order/reassessment order on 19.12.2016. That being the case, we are of the considered view that this is a fit instance attracting s. 80A(5) of the Act. Denying the impugned deduction once not claimed in a “return” which indeed has to be filed at least before framing of the assessment.

3.

Faced with this situation, the learned counsel for the assessee submits that s. 80A(5) gets attracted only when the assessee files a return without claiming the deduction. We hardly see any substance in the instant argument. Once the impugned provision comes into play, it stipulates that any such deduction is to be claimed in a return. The assessee fails in its instant sole substantive grievance.

4.

In the result, the assessee’s appeal is dismissed.

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