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2016 (10) TMI 1301 - AT - Income TaxBenefit of deduction u/s 80P - return of income was not furnished within the time limit prescribed u/s 139 - Assessee is primary agricultural credit society, registered under the Kerala Cooperative Societies Act, 1969 - HELD THAT:- Belated filing of return of income by the assessee does not disentitle it from the benefit of deduction u/s 80P(2) of the Act. Further, the assessee, in the instant case, is a primary agricultural credit society registered under the Kerala Cooperative Societies Act, 1969. The certificate has been issued by the Registrar of Cooperative Societies to the above said effect and the same is on record. The Hon’ble High Court, in assessee’s own case and [2014 (11) TMI 843 - ITAT COCHIN] had held that primary agricultural credit society, registered under the Kerala Cooperative Societies Act, 1969, is entitled to the benefit of deduction u/s 80P(2). Since there is a certificate issued by the Registrar of Cooperative Societies, stating that the assessee is a primary agricultural credit society, I hold that the assessee is entitled to the benefit of deduction u/s 80P(2) - Decided in favour of assessee.
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