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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Sanjay Arora & Shri Manomohan Das
O R D E R Per Sanjay Arora This is an Appeal by the Assessee directed against the Order dated 21.09.2022 by the Commissioner of Income Tax (Appeals), Income Tax Department, dismissing the assessee’s appeal contesting the denial of deduction under section 80P of the Income-tax Act, 1961 (‘the Act’) on processing of it’s return of income for assessment year (AY) 2019-2020 vide Intimation u/s. 143(1) dated 23.02.2021.
The denial of deduction u/s.80P in the instant case has been on account of application of s.80AC of the Act, which, with effect from 01.04.2018, bars the claim of deduction, inter alia, under any provision falling under Chapter VI-A (Part-C), where not made per a return filed within the time specified u/s.139(1). The return in the instant case has been admittedly filed on 03.3.2020, i.e., beyond the extended period of time allowed for filing the original return, i.e., 31.10.2019. The claim ITANo. 944/Coch/ 2022 & SA No. 71/Coch/2023 Anchalumoodu Service Co-operative Bank Ltd. vs. ITO u/s.80P, made at Rs.26,66,744, was accordingly disallowed vide Intimation u/s.143(1), raising a demand for Rs.11,21,143.
The issue before us is the maintainability of the Revenue’s action in denying the assessee it’s claim for deduction u/s.80P on processing u/s. 143(1)(a). This Tribunal has, vide a detailed order in Kollad Service Co-operative Bank Ltd. & Ors. v. ITO(in dated 25.9.2023), found the adjustment u/s.143(1)(a)(ii), which has been applied in the instant case as well, as not maintainable, as indeed u/s. 143(1)(a)(v) where the same is prior to 01.04.2021, i.e., the date on which the corresponding amendment, i.e., with reference to sec.80AC, stands made in s.143(1)(a)(v). As explained therein, the adjustment is outside the scope of s. 143(1)(a)(ii), while that u/s. 143(1)(a)(v) could not be given effect to prior to 01/4/2021, as obtains in the instant case.