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2017 (1) TMI 451 - ITAT COCHINDisallowance of claim of deduction u/s 80P by invoking the provisions of section 80A(5) - belated filing of return of income - Held that:- The 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 the case of Chirakkal Service Co-operative Bank Ltd reported in (2016 (4) TMI 826 - KERALA HIGH COURT), 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, hold that the assessee is entitled to the benefit of deduction u/s 80P(2) of the Act - Decided in favour of assessee
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