Case Law Details
Jila ALP Sankhyak Bachat Sahakari Sakh Samiti Maryadit Vs DCIT (ITAT Raipur)
Deductions otherwise disallowable under the Act but could not be disallowed in 143(1) – Eg 80P deduction AY 18-19 to AY 20-21
Assessee -Credit Co-operative Society, claiming deduction u/s.80P filed its ROI A.Y.2018-19 beyond the due date u/s 139(1). CPC in its Intimation issued u/s. 143(1) declined the assessee’s claim for the reason that the return of income was not filed within the “due date” as specified u/s.139(1) of the Act.
On appeal, CIT(A) upheld the addition holding timely filing of ITR is mandatory statutory requirement as far as compliance to sec 80AC is concerned and that the said provisions requiring the assessee to furnish the ROI before due date specified u/s 139(1) is mandatory & not directory .
On further appeal, the ITAT noted that though at the first blush, the view taken by the A.O disallowing the assessee’s claim of deduction u/s.80P for the reason that it had belatedly filed its return of income, appeared to be correct, the amendment in the machinery proviso i.e. Sec143(1)(a)(v) of the Act rendering the same as workable to disallow any deduction claimed by the assessee under Chapter VIA in a case return of income is furnished by him beyond the “due date” specified in 139(1) was made available only vide the Finance Act, 2021, w.e.f. 01.04.2021 i.e. from A.Y.2021-22 onwards.
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Pune Trib in Shrimant Jaysingrao Ghatge Nagari Sahakari Pat Sanstha Ltd Vs ITO- /ITA No.488/PUN/2023- decision dt 19.5.23- Ay 2018-19 too allowed the appeal by assessee on the same issue