CHAITANYA URBAN CO-OP CREDIT SOC. LTD,LONAWALA, PUNE vs. INCOME TAX OFFICER, PUNE

PDF · subscribers
ITA 1211/PUN/2024Status: DisposedITAT Pune10 October 2024AY 2019-20Bench: SHRI SATBEER SINGH GODARA (Judicial Member), DR. DIPAK P. RIPOTE (Accountant Member)4 pages

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

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the amendment to Section 143(1)(a)(v) disallowing Chapter VIA deductions for late filing of returns had prospective effect from 01.04.2021. Since the assessment year was 2019-2020, the disallowance was not sustainable.

What were the facts?

The assessee challenged the rejection of its Section 80P deduction claim. The claim was rejected by the lower authorities due to the return not being filed within the due date prescribed under Section 139(1).

What were the issues?

Whether the disallowance of Section 80P deduction for not filing the return within the due date is valid for Assessment Year 2019-2020, considering the prospective nature of the relevant amendment.

Which sections of the Income-tax Act were involved?

Section 80P,Section 139(1),Section 143(1)(a)(v),Section 80AC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE “A” BENCH : PUNE

Before: SHRI SATBEER SINGH GODARA & DR. DIPAK P. RIPOTE

Hearing: 03.10.2024Pronounced: 10.10.2024

short the “NFAC”] Delhi’s Din and Order No.ITBA/NFAC/S/ 250/2023-24/1063708714(1), dated 30.03.2024, in proceedings u/s.143(1) of the Income Tax Act, 1961 (in short “the Act”).

Heard both the parties. Case file perused.

2.

It emerges during the course of hearing that the assessee’s sole substantive grievance raised herein challenges correctness of both the learned lower authorities action rejecting it’s sec.80P deduction claim by way of “processing”

2 ITA.No.1211/PUN./2024 dated 16.02.2021 u/sec.143(1)(a)(v) of the Act for not having filed return within the “due date” prescribed u/sec.139(1) of the Act.

3.

It further emerges that the instant issue is no more res integra for the precise reason that the Finance Act, 2021 had inserted the necessary amendment to this effect w.e.f.

01.04.2021 carrying prospective operation only whereas we are in assessment year 2019-2020. And that 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.

3 ITA.No.1211/PUN./2024

4.

We find no merit in the Revenue’s instant sole

substantive grievance canvassed herein as sec.143(1)(a)(v); for the purpose of disallowing the impugned claim under Chapter-VIA of the Act; has been inserted by the Finance Act 2021 w.e.f. 01.04.2021 carries prospective effect only whereas the assessment year before us is assessment year 2019-2020 and that CPC’s processing had rejected the assessee’s claim on 29.05.2020. That being the case, we conclude that the impugned disallowance by way of sec.143(1)(a)(v) processing is not sustainable in law. We accordingly decline the Revenue’s vehement arguments seeking to revive the sec.80P disallowance herein to the tune of Rs.3,01,74,039/- in very terms. Ordered accordingly.

5. This Revenue’s appeal is dismissed in above

terms.”

4. 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 sole substantive grievance in very terms. Ordered accordingly.

5.

This assessee’s appeal is allowed in above terms.

4 ITA.No.1211/PUN./2024 Order pronounced in the open Court on 10.10.2024.

More judgments on Section 80P

All 5,069 judgments and leading authorities on Section 80P →

Recent GST High Court judgments

Search GST case law →