9911796707
TMI Blog2025 (5) TMI 518X X X X Extracts X X X X X X X X Extracts X X X X ..... e tax and thereby upholding the addition of Rs. 4,51,568/- made by A.O. is wholly illegal, unlawful and against the principles of natural justice. 2.1 The ld. CIT(A), has grievously erred in law and or on facts in not appreciating that there was no liability to pay amount equal to the advance tax u/s 249(4) the income being non-taxable under the old State and Sec. 80P(2)(a)(i) of the Act. 2.2 That the in the facts and circumstances of the ld. CIT(A), ought to have appreciated that there was no liability to pay amount equal to the advance tax u/s 249(4) the income being non taxable under the old State and Sec 80P(2)(a)(i) of the Act and thereby ought not to have upheld the addition of Rs. 4,51,568/-. 3.1 The ld. CIT(A), has grievously ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 148A(d) was issued on 29-03-2022 but the assessee failed to offer the income therefrom for taxation by way of filing the return of income. Prior to the notice u/s. 148A(b) of the Act was issued on 10-03-2023 and served upon the assessee which is prior to the order u/s. 148A(d) of the Act. Notice u/s. 142(1) of the Act was issued to the assessee society on 05-01-2023 seeking the nature of activities and source of cash deposit as well as copies of the bank statement. The assessee submitted its reply on 13-01-2023 along with final statement. No other documents have been submitted by the assessee, hence assessment was completed ex-parte based on the financial year statements submitted by the assessee. The Assessing Officer held that assessee ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 234B(i) and Section 208 which will not be applicable in assessee's case as the assessee does not have any taxable income. Thus, the Ld. A.R. submitted that the assessment itself is void ab-initio. The Ld. A.R. submitted that the assessee is a co-operative society and it has an exempt income u/s. 80P(2)(a)(i) of the Act and therefore question of advance tax and estimation of tax is not at all relevant in assessee's case. Section 209 of the Act is related to suo moto advance tax and Section 208 to Section 210 of the Act are related to suo moto payment on the estimation basis of the advance tax. The Ld. A.R. relied upon the decision of the Tribunal in case of Annamma Joseph vs. ITO (ITA No. 233/Ind/2024 order dated 31-07-2024 and the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act. The assessee had already declared interest income of Rs. 4,53,489/- in its annual accounts and the Assessing Officer has allowed the expenses at Rs. 1,43,345/- as per profit and loss account and balance of Rs. 4,54,568/- was determined as assessed income. The Assessing Officer did not allow the deduction u/s. 80P(2)(a)(i) of the Act. 8. Heard both the parties and perused all the relevant materials available on record. It is a matter of record that the assessee has not filed the return of income as well as revised income tax return and when the assessee has not filed the return of income as well as revised income tax return, the question of claiming deduction/exemption u/s. 80P(2)(a)(i) of the Income Tax Act, 1961 does not arise. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal has not considered the proviso of Section 139 wherein the assessee has to make a proper application before the authorities for taking the exemptions for filing the appeal before the CIT(A) without paying the amount equal to the advance tax. Here, the word "advance tax" should not be taken into account in toto but is merely an indicator as if the assessee has to pay "particular/certain amount" of tax. The assessee is claiming that the assessee has an exempt income u/s. 80P of the Act but the exemptions can only be operational when the assessee files return of income/revised return of income and not otherwise. To get the benefit of any provisions/Sections of the Income Tax Act, the assessee has to fulfill the conditions of the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
