Case Law Details
Madhu Souharda Pathina Sahakari Niyamitha Vs ITO (ITAT Bangalore)
The Income Tax Appellate Tribunal (ITAT) Bangalore, in the case of Madhu Souharda Pathina Sahakari Niyamitha vs Income Tax Officer, has delivered a pivotal ruling concerning the eligibility for deductions under Section 80P of the Income Tax Act, 1961. This case underscores the importance of adhering to the statutory deadline for filing income tax returns to claim such deductions.
Detailed Analysis:
The appellant, Madhu Souharda Pathina Sahakari Niyamitha, a cooperative society, appealed against the order of the Commissioner of Income Tax (Appeals), challenging the denial of deduction under Section 80P for the Assessment Year 2017-18. The crux of the dispute revolved around the assessee’s failure to file the income tax return within the time prescribed under Section 139(1) and 139(4) of the Income Tax Act.
The ITAT Bangalore meticulously examined the case, referencing the statutory provisions and precedents, including the judgment of the Kerala High Court in Nileshwar Rangekallu Chethu Vyavasaya Thozhilali Sahakarana Sangham v. CIT. The Tribunal noted that for claiming deductions under Chapter VIA, which includes Section 80P, filing a return of income within the stipulated deadline is imperative.
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Author Bio
U/S P ITAT order and information without full fulfillment of basic statutory requirement -no one will be successful in an appeal/tribunal