Sterling Court F Wing CO-OP Hsg Socy Limited Vs ITO (ITAT Mumbai)
The assessee filed three appeals against orders of the Commissioner of Income Tax (Appeals), Chennai dated 29.09.2025 for Assessment Years 2012–13, 2013–14, and 2014–15. These appeals arose from rectification orders passed under section 154 dated 28.04.2023 by the Assessing Officer. As all appeals involved identical issues, they were heard together and decided through a common order, with Assessment Year 2012–13 treated as the lead case.
The assessee had originally filed its return of income for AY 2012–13 declaring total income of ₹89,650 after claiming deduction under section 80P(2)(d). The return was processed under section 143(1), wherein the deduction of ₹2,66,556 claimed under section 80P(2)(d) was disallowed. The assessee filed a rectification application under section 154, which was rejected by the Assessing Officer on the ground that there was no mistake apparent on record. The CIT(A) upheld this rejection, stating that the return was filed beyond the due date under section 139(1), and therefore deduction under Chapter VI-A, including section 80P, was not allowable. It was also held that interest income earned from Saraswat Co-operative Bank could not qualify for deduction as the bank was not considered a co-operative society for the purpose of section 80P(2)(d).
