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TMI Blog2023 (10) TMI 1365X X X X Extracts X X X X X X X X Extracts X X X X ..... assed under section 143 (3) of the Income-tax Act, 1961 (the Act) dated 6th December, 2019 by the Income Tax Officer, Ward 17(2)(4), Mumbai was dismissed. Therefore, the assessee is aggrieved by that appellate order has preferred this appeal before us as per the grounds of appeal as under:- "1) The Learned Commissioner of Income Tax (Appeals) National Faceless centre erred in confirming the action of the Assessing Officer in not allowing deduction u/s 80P(2)(d) of Rs. 15,89,3985 in respect of interest earned from Co-operative Banks. 2) The Learned Commissioner of Income Tax (Appeals) National Faceless centre failed to appreciate that deduction was not claimed u/s 80P (4) but u/s 80P(2)(d). 3) The Learned Commissioner of Income Tax ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anation of the assessee on record and it was rejected. The claim of the learned Assessing Officer is that as per sub-section 4 of section 80P of the Act such deduction is not allowable. It was noted that assessee has deposited funds in various cooperative banks as fixed deposits and has earned interest income thereon. In nutshell, the claim of the learned Assessing Officer is that interest received by the assessee from cooperative banks are not eligible for deduction under section 80P as they are not the cooperative societies. Accordingly, the assessment order under section 143 (3) of the Act was passed by the learned Assessing Officer on 6th December, 2019 wherein the total income of the assessee was assessed at Rs. 1,589,385/- denying ded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the order of the learned CIT (A) supported by the affidavit, the assessee does not derive any benefit by not filing the appeal in time before the coordinate bench and further, whenever the condonation of delay is required to be considered, pedantic approach should not be taken. Accordingly, it was prayed that as delay is nominal, same May be condoned. 05. The learned Departmental Representative vehemently objected to the same. 06. We find that assessee does not derive any benefit by filing the appeal late. Subsequently, the assessee has received the communication for the recovery of the demand, wherein it has come to its knowledge that the learned CIT (A) has passed an order against the cooperative society. As far as this argument is conc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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