S T CO-OPERATIVE CREDIT SOCIETY,PUNE vs. ITO, WARD 5(1), PUNE
In the result, appeal of the assessee is allowed
ITA 2136/PUN/2024[2020-21]Status: DisposedITAT Pune18 Nov 2024AY 2020-21
Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2136/Pun/2024 िनधा"रण वष" / Assessment Year: 2020-21 S T Co-Operative Credit V The Income Tax Officer, Society, S Ward-5(1), Pune. Swargate S T Depo, Veer Savarkar Nagar, Swargate Bus Stand, Pune – 411037. Pan: Aabas6856L Appellant/ Assessee Respondent / Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Prakash L Pathade – Dr Date Of Hearing 13/11/2024 Date Of Pronouncement 18/11/2024 आदेश/ Order 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 09.08.2024 For A.Y.2020-21. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Cit(A) Erred In Dismissing The Appeal Of The Appellant By Refusing To Condone The Delay Of 108 Days In Filing The Appeal Without Appreciating That The Said Delay Was Due To Reasonable Cause As Explained In The Application For Condonation Of Delay Filed Before Cit(A) & Therefore, The Said Delay Ought To Have Been Condoned In The Interest Of Justice & The Appeal Should Have Been Adjudicated On Merits. 2. The Learned Cit(A) Ought To Have Appreciated That The Deduction U/S 80P Was Allowable In Respect Of Interest Earned From Deposits Made By Cooperative Banks As Consistently Held By Honorable
Section 250Section 80PSection 80P(2)(a)Section 80P(4)
delay may kindly be condoned and the case may be decided on merits.
2.1 Ld.AR further submitted on merits Assessing Officer has held that interest of Rs.40,68,448/- earned by assessee is not eligible for deduction u/sec.80P of the Act. However, ld.AR invited our attention to various decision of ITAT Pune, wherein
ITAT Pune has held that interest earned
