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2020 (9) TMI 409 - AT - Income TaxOrder u/s. 143(3) as barred by limitation - Deduction u/s.80P(2)(a)(i) denied on the ground that the appellant is not a Co-operative Society - HELD THAT:- Admittedly, in this case, the assessment order was passed on 29/12/2017. However, it was received by the assessee through Speed Post on 02/01/2018. Now the contention of the assessee is that it should have been posted on or before 31/12/2017. However, as find that 30/12/2017 and 31/12/2017 were Saturday and Sunday being Government holidays. Being so, the assessment order was rightly sent by Speed Post on 01/01/2018 and it cannot be said that the assessment order was barred by limitation. Accordingly, reject this additional ground taken by the assessee. Deduction u/s. 80P - AO should have considered the net income by setting off the loss incurred on account of business carried on with the regular members which resulted in loss - HELD THAT:- The assessee has raised this additional ground first time before the Tribunal and the lower authorities had no to consider this ground. In view of this, remit this issue to the file of the CIT(A) for fresh consideration. Accordingly, this additional ground of the assessee is allowed for statistical purposes.
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