9911796707
TMI Blog2025 (2) TMI 1182X X X X Extracts X X X X X X X X Extracts X X X X ..... ly stated, the facts of the case are that the assessee is a Primary Agricultural Credit Cooperative Society carrying on the banking business. The assessee filed the return of income u/s. 139(4) of the Act for the A.Y. 2018-19 on 18.03.2019 as against the due date for filing the return on 31.08.2018, declaring Nil income after claiming deduction u/s. 80P of the Act at Rs. 5,46,053/-. The CPC vide its intimation dated 04.07.2019 made adjustment in the returned income for non-filing of the income-tax return u/s. 139(1) of the Act, thereby disallowed the said claim made u/s. 80P of the Act. 3. Aggrieved assessee preferred appeal before the ld.Addl/JCIT(A) who vide impugned order dismissed the appeal but giving liberty to the assessee to prefer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y by making an application before the concerned Chief Commissioner of Income Tax (CCIT) for the condonation of delay. This is in accordance with Instruction No. R11015/01/2023-CD-I dated 03.08.2023 issued by the Government of India, Ministry of Cooperation, which provides for the consideration of such cases on merit. The Instruction allows taxpayers who have missed the filing deadline due to genuine reasons to apply for relief, thereby ensuring that the denial of deductions does not result in undue hardship. The CCIT is empowered to condone the delay if a satisfactory explanation is provided. In conclusion, while the appeal regarding the denial of the 80P deduction due to late filing is dismissed as per the statutory requirements of the I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 03.04.2023 wherein the issue was decided in favour of the assessee by observing as under : "5. We have heard the submissions of the parties, considered the relevant materials/documents on record and analysed the facts and circumstances in this case. Section 143(1)(a)(v) of the Act spells out that if any deduction is claimed under any of the provisions of Chapter VI-A which include deduction u/s 80P such deduction has to be allowed only if the return is filed within due date specified under sub-section 139(1) of the Act. In other words, if any return is filed beyond due date u/s 139(1) of the Act then no deduction u/s 80P shall be allowed. However, clause (v) was inserted by the Finance Act, 2021 w.e.f. 01- 04-2021. The case of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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