Suryakiran Co-operative Housing Service Society Ltd. Vs ITO (ITAT Ahmedabad)
Summary: The appeal was filed by the assessee, a co-operative society, against the order dated 29.10.2025 passed by the Addl./JCIT(A)-11, Delhi under Section 250 of the Income-tax Act, 1961 for Assessment Year 2024-25. The dispute concerned disallowance of deduction under Section 80P amounting to Rs. 5,59,600/-.
The assessee had filed its return of income on 03.07.2024 declaring Nil income after claiming deduction of Rs. 5,59,660/- under Section 80P. While processing the return under Section 143(1), the Central Processing Centre, Bengaluru, disallowed the Section 80P deduction and determined total income at Rs. 5,59,660/-. The assessee challenged the intimation before the learned CIT(A).
During the appellate proceedings, it was noticed that the assessee had exercised the option under Section 115BAD by filing Form No. 10-IF. The learned CIT(A) observed that exercise of the Section 115BAD option made the assessee ineligible to claim deduction under Section 80P and that the option could not subsequently be withdrawn. The assessee’s contention that Form No. 10-IF had been filed inadvertently was rejected by the CIT(A), who consequently confirmed the Section 80P disallowance.
Before the Tribunal, the assessee challenged the confirmation of the Section 80P deduction disallowance. The Tribunal examined Section 115BAD, including the provision that once the option is exercised, it cannot subsequently be withdrawn for the same or any other previous year.
