Case Law Details
Amasebail Vyvasaya Seva Sahakari Sangha Ltd. Vs DCIT (ITAT Bangalore)
In this case, the main plea of the assessee is that assessee filed an application for condonation of delay in filing the income tax return for the assessment year 2018-19 and on this basis, exemption u/s 80P of the Act to be granted. In my opinion, if the delay is condoned by the competent authority, assessee is entitled for exemption u/s 80P of the Act in accordance with law. Hence, I remit the issue to the file of AO to examine whether application filed by the assessee on 30.11.2018 before PCIT, Central Revenue Building, Attavara, Bengaluru for condoning the delay in filing the return of income for the assessment year 20 18-19. If it is condoned by the competent authority, the exemption u/s 80P of the Act is to be granted though it was filed belatedly.
FULL TEXT OF THE ORDER OF ITAT BANGALORE
This appeal by assessee is directed against the order of Ld. CIT(A) dated 24.3.2022. The assessee has raised following grounds of appeal:-
1. “In the facts and circumstances of the case, the Assessing Officer and the Appellate Authority erred in denying the benefit of deduction under Sec. 80P (2) of the Income Tax Act, 1961 to the appellant.
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