Case Law Details
S 878 Kalvadangam Primary Agricultural Co-operative Credit Society Limited Vs Chief Commissioner of Income Tax (Madras High Court)
In a recent ruling, the Madras High Court addressed the delay in income tax return filing by the Kalvadangam Primary Agricultural Co-operative Credit Society Limited. Here’s a detailed analysis of the case and its implications.
An order under Section 119(2)(b) of the Income Tax Act, 1961, was challenged in W.P.No.5145 of 2024. The subsequent W.P.No.5155 of 2024 contested an intimation dated 19.10.2020 for the assessment year 2019-2020, stating that the petitioner wasn’t entitled to deductions due to non-filing of returns.
The petitioner, an agricultural co-operative credit society, faced a due date for filing the return of income for the assessment year 2019-2020 on 30.09.2019. Operating under the Tamil Nadu Co-operative Societies Act, 1983, statutory auditing of accounts was necessary. The audit completed on 30.12.2019, with the report received on 15.02.2020. Due to the delay in filing, deductions under amended 80B of the Income Tax Act were denied, leading to the impugned intimation in W.P.No.5155 of 2024.
The petitioner filed its income tax return belatedly on 26.06.2020, along with an application under Section 119(2)(b) to condone the delay. However, this application was rejected by the order challenged in W.P.No.5145 of 2024.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
