9911796707
TMI Blog2025 (5) TMI 1487X X X X Extracts X X X X X X X X Extracts X X X X ..... ation u/s. 143(1) could not deny the claimed by the assessee as the same does not come within the ambit of 'an incorrect claim apparent from any information in the return', therefore, the disallowance made by the CPC was without jurisdiction, as such his finding is completely arbitrary, unjustified and illegal." 03. The facts in brief are that the assessee is a Primary Agricultural Credit Cooperative Society (PACS) situated in remote village at Patul, District: Hooghly, West Bengal. The main object of the assessee is to provide credit facilities, KCC loans, and other agricultural loans to farmer members and banking business with the members. During the year the assessee did not file any return of income u/s 139(1) of the Act while ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. Prior to the said amendment, there is no mechanism/ jurisdiction with AO/CPC to deny the deduction u/s 80P of the Act. The instant assessment year is A.Y. 2019-20, whereas the amendment is applicable from A.Y. 2022-23. The case of the assessee is clearly covered by the decision of the co-ordinate Bench in the case of Shyamganj Pirijpur Samabay Vs. ACIT in ITA No. 1961/KOL/2024 for A.Y. 2018-19 vide order dated 05.02.2025, wherein the co-ordinate Bench held as under:- "5. I have heard the parties and perused the record placed before me. The solitary issue arises for my consideration is whether the CPC was justified in denying the deduction claimed by the assessee u/s. 80P of the Act for filing the return belatedly. An amendment was br ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021 w.e.f. 01-04-2021. The case of the assessee, on the other hand, is for F.Y. 2018- 19 relevant to A.Y. 2019-20 which is the period prior to amendment brought in by the Finance Act, 2021. Before this amendment, clause (v) did not include and cover deduction u/s 80P. So therefore, in the present Case of the assessee though admittedly return was filed beyond the time limit prescribed u/s 139(1) of the Act but still section 143(1)(a)(v) is not applicable to the assessee since the case of the assessee is for A.Y. 2019-20, which is before the amendment. We also accept the argument of the ld. A.R for the assessee that even if the revenue intends to invoke clause (ii) of section 143(1)(a) that would also not be permissible since in the definiti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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