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TMI Blog2023 (10) TMI 309X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER This appeal is filed by the Assessee against order dated 12.05.2023 passed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi for the Assessment Year 2020-21. 2. The Assessee has raised the following grounds of appeal :- "1. The learned CIT(A) has erred in law and on facts in upholding non grant of exemption of Rs. 4,18,340/- claimed u/s. 80P(2)(b), 80P(2)(d), 80P(2)(c) aggre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to have been denied on the ground of late furnishing of return. 6. He has erred in law in applying the decision of Madras High Court in the case of Veerappampalayam Primary Agricultural Co-operative Society Limited on the facts of the assessee." 3. The assessee is a Co-operative Society and filed its return of income on 31.03.2021 wherein the assessee claimed deduction under Section 80P of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of dividend of Rs. 1,50,000/-, interest of Rs. 1,82,675/- and upto Rs. 1,00,000/- under Section 80P(2)(c) of the Act and, therefore, entire income of Rs. 4,18,338/- was claimed as exempt and column of income was nil. While passing the intimation on 27.12.20221, exemption has not been allowed and the amount of Rs. 4,18,340/- has been treated as taxable and demand of Rs. 1,61,860/- has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see has filed the same belatedly by more than a month. The Ld. DR relied upon the Assessment Order and the order of the CIT(A). 7. Heard both the parties and perused all the relevant material available on record. There is no dispute that the assessee is entitled for deduction under Section 80P of the Act and the circumstances under which the assessee filed the belated return were beyond the contr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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