ITAT Cochin Judgments — July 2019

The Tribunal condoned the delay in filing the appeal and decided to dispose of the matter on merits. The core issue was whether the assessees were entitled to deduction under Section 80P.

The Tribunal condoned the delay in filing the appeal and decided to dispose of the matter on merits. The core issue was whether the assessees were entitled to deduction under Section 80P.

The Tribunal upheld the CIT(A)'s decision, allowing the deduction under Section 80P. The assessee was considered eligible for the deduction as a co-operative society.

The Tribunal held that the Income Tax Officer (Intelligence) had the jurisdiction to issue notices under Section 133(6) and that the penalty orders were not time-barred. The assessees' contention of reasonable cause for non-furnishing information was also rejected.