SHREE SHIV SAHYADRI NAGARI SAHAKARI PATHSANSTHA MARYADIT,PUNE vs. INCOME TAX OFFICER WARD 7(3) PUNE, PUNE

ITA 1788/PUN/2024Status: DisposedITAT Pune07 November 2024AY 2019-20Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)8 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that there is no provision under Section 143(1) for disallowing a deduction under Section 80P solely on the ground of belated filing of the return of income. Such disallowance by way of a prima facie adjustment under Section 143(1) is not permissible.

What were the facts?

The assessee filed its return of income belatedly for AY 2019-20. The claim for deduction under Section 80P was disallowed by the CPC under Section 143(1) on the ground that the return was not filed within the due date. The CIT(A) upheld this disallowance.

What were the issues?

Whether a deduction under Section 80P can be disallowed through a prima facie adjustment under Section 143(1) for filing the return of income beyond the due date prescribed under Section 139(1).

Which sections of the Income-tax Act were involved?

Section 80P,Section 143(1),Section 139(1)

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Income Tax Appellate Tribunal, PUNE BENCHES “SMC” :: PUNE

Before: DR.DIPAK P. RIPOTE & SHRI VINAY BHAMORE

For Appellant: Shri Deepak Sasar – AR
For Respondent: Smt. Shabana Parveen – Addl.CIT(DR)
Hearing: 06/11/2024Pronounced: 07/11/2024

PER DR. DIPAK P. RIPOTE, AM: This is an appeal filed by the Assessee directed against the order of ld.Commissioner of Income Tax(Appeal)[NFAC], under section 250 of the Income tax Act, 1961 dated 28.06.2024 for A.Y.2019-20. The assessee has raised the following grounds of appeal :

“1. The Ld.CIT(A) has wrongly confirmed the disallowance of deduction of Rs.15,60,115/- claimed by the appellant u/s.80P(2)(a)(i) of the Income Tax Act, 1961. 2. Alternatively, the interest income earned by the appellant from the investments in a co-operative bank is also eligible for deduction u

The order continues below.

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