SHRI DHANALAXMI URBAN CO OPERATIVE CREDIT SOCIETY LIMITED,BELAGAVI vs. ASSESSMENT UNIT INCOME TAX DEPARTMENT, BELAGAVI

ITA 68/PAN/2026Status: DisposedITAT Panaji16 March 2026AY 2015-2016Bench: SHRI PAVAN KUMAR GADALE (Judicial Member)5 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that Section 80AC was not applicable for A.Y. 2015-16 for claiming deduction under Section 80P, as its provisions were extended to cooperative societies for Section 80P from A.Y. 2018-19 onwards. Therefore, the assessee was entitled to the deduction even if the return was filed late.

What were the facts?

The assessee, a credit cooperative society, did not file its income tax return for A.Y. 2015-16. Upon receiving a notice under Section 148, it filed a return claiming deduction under Section 80P. The AO and CIT(A) denied the deduction, citing non-compliance with Section 80AC due to the late filing of the return.

What were the issues?

The key legal issue was whether the assessee, a cooperative society, was entitled to claim deduction under Section 80P for A.Y. 2015-16 despite filing its return of income late, considering the applicability of Section 80AC.

Which sections of the Income-tax Act were involved?

Section 80P,Section 80AC,Section 147,Section 148,Section 144,Section 250,Section 139(1),Section 142(1),Section 80A(5)

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Income Tax Appellate Tribunal, “SMC” BENCH PANAJI

Hearing: 12.03.2026Pronounced: 16.03.2026

PER PAVAN KUMAR GADALE, JM:

The appeal is filed by the assesse against the order of theNFAC/CIT(A) passed u/sec147r.w.s144 and u/sec 250 of the Act. The assesse has raised the grounds of appeal challenging the order of the NFAC/CIT(A) sustaining the denial of claim of deduction under section 80P of the Act applying the provisions of section 80AC of the Act.

2.

The brief facts of the case are that, the assessee is a credit cooperative society engaged in providing the credit facilities to members. The Assessing Officer (AO) based on the information and data analytics/ cash transactions data

2 Shri Dhanalaxmi Urban Cooperative Credit Societ

The order continues below.

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