Case Law Details
Case Name : S55 Keerippatty Primary Agricultural Co-op. Credit Society Ltd. Vs ITO (ITAT Chennai)
Related Assessment Year : 2020-21
Courts :
All ITAT ITAT Chennai
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S55 Keerippatty Primary Agricultural Co-op. Credit Society Ltd. Vs ITO (ITAT Chennai)
The ITAT Chennai set aside the CIT(A)’s order and held that once the delay in filing the return is condoned u/s 119(2)(b), the very basis for denying deduction u/s 80P disappears.
The assessee, a Primary Agricultural Co-operative Credit Society (PACCS), filed its return for AY 2020-21 belatedly due to statutory audit under the TN Co-operative Societies Act being completed late. The CPC denied 80P in the 143(1) intimation solely because the return was not filed within the due date u/s 139(1).
Subsequently, t...
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Author Bio
RETURN FILED UNDER SECTION 119 (2) (B) ON 01.06.2022 FOR THE A.Y. 2018-19 CLAIMING REFUND OF RS. 1,07,499/-, AFTER RECEIVING THE CONDONATION LETTER FROM PCIT. THERE IS NO RESPONSE FROM AO OR CPC. WHAT ACTION TO BE TAKEN FURTHER TO PROCESS THE RETURN.