Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (8) TMI 732 - AT - Income TaxDisallowance of deduction claimed u/s 80P - AR submitted that intimation issued under section 143(1) of the Act did not mention any reason for disallowing claim for deduction under section 80P - HELD THAT:- As per sec. 80A(5), if an assessee has not made a claim for deduction under any of the sections mentioned in sec. 80A(5) of the Act, then such deduction shall not be allowed to him. As rightly pointed out by learned AR, the provisions of section 80A(5) would be applicable only if an assessee fails to make a claim for deduction under the heading “C – Deductions in respect of certain incomes” under Chapter VIA, which includes section 80P of the Act. In the instant cases, there is no dispute that the assessee has made a claim for deduction u/s 80P of the Act. Hence the provisions of sec. 80A(5) are not applicable to the assessee. The provisions of section 80AC which bars claiming of deduction if the return of income was not filed before the due date specified under section 139(1) of the Act, was made applicable to the deduction under the heading “C – Deductions in respect of certain incomes” under Chapter VIA of the Act w.e.f. 1st day of April, 2018. Hence, for all the three years under consideration, provisions of section 80AC are also not applicable to the assessee, since all these three years prior to assessment year 2018-19. AR also brought to notice that the power to make disallowance of deduction under the heading “C – Deductions in respect of certain incomes” under Chapter VIA, while processing return under section 143(1) of the Act has been given to the Assessing Officer only by the Finance Act 2021 w.e.f. 1.4.2021. Prior to that, there was no power available with the AO to disallow the claim made under the heading “C – Deductions in respect of certain incomes” under Chapter VIA. Thus Assessing Officer could not have disallowed the deduction claimed by the assessee under section 80P of the Act in all the three years under consideration, while processing the returns of income u/s 143(1) - Appeal of assessee allowed.
|