PANDALAPAKA PRIMARY AGRICULTURAL CO-OP SOCIETY LTD,EAST GODAVARI vs. INCOME-TAX OFFICER, WARD-1, KAKINADA

disallowance of deduction\nclaimed under section 80P(2)(d) amounting to Rs.16,15,079. The order\nwas passed on 25.07.2024.\n\n4.\nThat the Chartered Account Shri. Ashok Bhagavathula who is\nlooking after our tax matters since a very long time is a senior citizen\nsuffering from many ailments. His wife is also suffering from many\nailments. He is presently

THE GUNDUGOLANU LARGE SIZE COOPERATIVE SOCIETY LIMITED ,GUNDUGOLANU vs. NFAC, DELHI

142(1)", "143(2)", "80P(2)(a)(i)", "80P(2)(d)" ], "issues": "Disallowance of deduction under section 80P(2)(a)(i) on income

NO H 1043 BHUJABALAPATNAM PRIMARY AGRICULTURE COOPERATIVE CREDIT SOCIETY LTD,KRISHNA DIST vs. INCOME TAX OFFICER, WARD-1, GUDIWADA

In the result, the appeal filed by the assessee is allowed

Bench: The Tribunal. The Petitioner/Appellant Society Has Filed An Affidavit Explaining The Reasons For The Delay In Filing The Appeal Before The Tribunal, Wherein It Was Submitted That The Order Passed By The Ld. Cit(A) Was Sent To The Email Of Its Then Ar, Ca B.V. Rao, Instead Of Its Email "Krishnapacs085@Gmail.Com," As Had Been Requested By It. The Appellant Society Came To Know Of The Order Only When Itd Officials Called Upon It To Pay The Tax Arrears. It Further Submitted That, Due To The Above Circumstances Beyond Its Control & Prayed That The Delay Of 69 Days In Filing The Appeal Before The Tribunal May Please Be Condoned In The Interest Of Justice & That The Appeal Be Decided On Merits.

142(1), held that, in the absence of claiming deduction in the return of income filed on or before the due date under Section 139(1) of the Act, the deduction claimed under Section 80P(2)(a)(i) cannot be allowed in view of the provisions of Section 80A(5) of the Act. 9. Aggrieved by the order

INCOME TAX OFFICER, BHIMAVARAM vs. THE YENDAGANDHI LARGE SIZE COOPERATIVE SOCIETY LIMITED, YEDAGANDI

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.354/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2020-21) Income Tax Officer - Ward - 1 V. The Yendagandhi Large Size Cooperative Society Limited Opp. Ganesh Canteen 4-16, Kk Road, Yendagandhi J.P. Road, Bhimavaram – 534202 West Godavari District – 534186 Andhra Pradesh Andhra Pradesh [Pan: Aacat0967G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

142(1) of the Act dated 07.03.2022 requesting the assessee to show-cause why the deduction claimed under section 80P of the Act should not be disallowed as the provisions of section 80P clearly stated that it does not apply to a cooperative bank. In response, assessee submitted that the DCCB and AP Cooperative bank are cooperative societies and hence

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA vs. THE KRISHNA DISTRICT MILK PRODUCERS MUTUALLY AIDED CO OP UNION LIMITED, VIJAYAWADA

disallowing deductions under Section 80P(2)(d) for interest income, and treating a difference in payments to GCMMFL as unexplained expenditure. The CIT(A) allowed the assessee's appeal.", "held": "The Tribunal held that the assessee had adequately explained the cash deposits arising from credit sales, and the difference in payment to GCMMFL was due to a wrongly recorded

SRI LAKSHMI VENKATESWARA MUTUALLY AIDED COOPERATIVE SOCIETY LIMITED,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-1(1), VISAKHAPATNAM

disallowed this deduction, stating that section 80P(2) applies to interest from cooperative societies, not cooperative banks. The CIT(A) upheld the AO's order.", "held": "The Tribunal noted that the jurisdictional High Court had held that cooperative societies are eligible for deduction under Section 80P(2)(a)(i) on interest income received from investments in banks. Following this precedent

GOWRIPATNAM PRIMARY AGRICULTURAL COOPERATIVE CREDIT SOCIETY LIMITED,GOWRIPATNAM vs. ITO, WARD-1, TADEPALLIGUDEM

disallowed because the return was filed under Section 139(4) and not within the due date under Section 139(1), as per Section 80AC.", "result": "Allowed/Dismissed/Partly Allowed/Remanded", "sections": [ "147", "144", "139(1)", "148", "143(2)", "142

GOWRIPATNAM PRIMARY AGRICULTURAL COOPERATIVE CREDIT SOCIETY LIMITED,GOWRIPATNAM vs. ITO, WARD-1, TADEPALLIGUDEM

disallowance was primarily based on the ground that the return of income was filed belatedly in response to a notice under Section 148, and not within the due date prescribed under Section 139(1).", "held": "The Tribunal held that for Assessment Years 2015-16 and 2016-17, the assessee is entitled to claim deduction under Section 80P(2

GOWRIPATNAM PRIMARY AGRICULTURAL COOPERATIVE CREDIT SOCIETY LIMITED,GOWRIPATNAM vs. ITO, WARD-1, TADEPALLIGUDEM

disallowed this deduction, citing the belated filing of the return.", "held": "The Tribunal held that for A.Y. 2015-16, the deduction under section 80P cannot be denied solely on the ground that the return was filed belatedly in response to a notice under section 148, as long as the claim was made in the filed return. The amendment to section

BHEEMUNIPETAM MUTUALLY AIDED COOPERATIVE BUILDING SOCIETY LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. Nos. 175, 176 & 177/Viz/2024 (निर्धारण वर्ा/ Assessment Years: 2017-18, 2018-19 & 2020-21) Bheemunipatnam Mutually Aided V. Dcit / Acit, Circle – 3(1) Cooperative Building Society Limited Income Tax Office H.No. 10-36-284 Infinity Towers, Sankaramatam Road Bheemunipatnam – 531163 Visakhapatnam – 530016 Andhra Pradesh Visakhapatnam, Andhra Pradesh [Pan: Aaaat5114H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

2) and 142(1) of the Act were issued and served on the assessee, calling for information. Subsequent to change in the incumbent a fresh opportunity of being heard under section 129 of the Act were issued to the assessee vide letter dated 13.09.2019 and notice under section 142(1) of the Act dated 13.09.2019 were also issued calling

BHEEMUNIPATNAM MUTUALLY AIDED COOPERATIVE BUILDING SOCIETY LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. Nos. 175, 176 & 177/Viz/2024 (निर्धारण वर्ा/ Assessment Years: 2017-18, 2018-19 & 2020-21) Bheemunipatnam Mutually Aided V. Dcit / Acit, Circle – 3(1) Cooperative Building Society Limited Income Tax Office H.No. 10-36-284 Infinity Towers, Sankaramatam Road Bheemunipatnam – 531163 Visakhapatnam – 530016 Andhra Pradesh Visakhapatnam, Andhra Pradesh [Pan: Aaaat5114H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

2) and 142(1) of the Act were issued and served on the assessee, calling for information. Subsequent to change in the incumbent a fresh opportunity of being heard under section 129 of the Act were issued to the assessee vide letter dated 13.09.2019 and notice under section 142(1) of the Act dated 13.09.2019 were also issued calling

BHEEMUNIPATNAM MUTUALLY AIDED COOPERATIVE BUILDING SOCIETY LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. Nos. 175, 176 & 177/Viz/2024 (निर्धारण वर्ा/ Assessment Years: 2017-18, 2018-19 & 2020-21) Bheemunipatnam Mutually Aided V. Dcit / Acit, Circle – 3(1) Cooperative Building Society Limited Income Tax Office H.No. 10-36-284 Infinity Towers, Sankaramatam Road Bheemunipatnam – 531163 Visakhapatnam – 530016 Andhra Pradesh Visakhapatnam, Andhra Pradesh [Pan: Aaaat5114H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

2) and 142(1) of the Act were issued and served on the assessee, calling for information. Subsequent to change in the incumbent a fresh opportunity of being heard under section 129 of the Act were issued to the assessee vide letter dated 13.09.2019 and notice under section 142(1) of the Act dated 13.09.2019 were also issued calling

OMMI SANDEEP,VIZIANAGARAM vs. INCOME TAX OFFICER, WARD-1, VIZIANAGARAM

2)(a)(i)\nof the Act, when the return was not filed under section 139(1).\n5.\nFrom the assessment order, it is observed that, the assessee did not file the\nreturn of income at all and there was information in the possession of the\nDepartment that the assessee-society deposited cash of Rs.3,05,000/- in Krishna\nDistrict Central

ISRINFRA PRIVATE LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-3, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

disallowance of Rs.2,98,026/- under section\n40(a)(ia).Ground\n3. The Ld. CIT(Appeals), National Faceless Appeal Centre is not\njustified in confirming the treatment of Rs.34,14,944/- as unexplained\nexpenditure under section 69C.Ground\n4. The Ld. CIT(Appeals), National Faceless Appeal Centre is not\njustified in confirming the treatment of Rs.45,30,000/- as unexplained cash

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

section 43B by the Finance Act, 2023, w.e.f. 1-4-2024: (g) “small enterprise” shall have the meaning assigned to it in clause (m) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).” 87. From the bare reading of the above provisions and Explanation to Section 43B, the terms “public financial institutions”; “scheduled

THE VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASST. CIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

section 43B by the Finance Act, 2023, w.e.f. 1-4-2024: (g) “small enterprise” shall have the meaning assigned to it in clause (m) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).” 87. From the bare reading of the above provisions and Explanation to Section 43B, the terms “public financial institutions”; “scheduled

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

section 43B by the Finance Act, 2023, w.e.f. 1-4-2024: (g) “small enterprise” shall have the meaning assigned to it in clause (m) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).” 87. From the bare reading of the above provisions and Explanation to Section 43B, the terms “public financial institutions”; “scheduled

VISAKHAPATNAM PORT AUTHORITY, ,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

section 43B by the Finance Act, 2023, w.e.f. 1-4-2024: (g) “small enterprise” shall have the meaning assigned to it in clause (m) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).” 87. From the bare reading of the above provisions and Explanation to Section 43B, the terms “public financial institutions”; “scheduled

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

section 43B by the Finance Act, 2023, w.e.f. 1-4-2024: (g) “small enterprise” shall have the meaning assigned to it in clause (m) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).” 87. From the bare reading of the above provisions and Explanation to Section 43B, the terms “public financial institutions”; “scheduled