2202-Day Delay in Income Tax Appeal Filing Condoned in Palmera Co-op Case

Palmera Co Op Housing Society Limited Vs ITO (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai, condoned a 2202-day delay in filing an appeal by Palmera Co-operative Housing Society Limited for the assessment year 2014-15. The delay arose due to the society’s bona fide belief that the rectification application under Section 154 of the Income Tax Act would address the issue of disallowed deductions under Section 80P(2)(d). The rectification was denied, leading to an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)], who dismissed it due to the prolonged delay. The I...