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2023 (6) TMI 1381 - ITAT COCHINDeduction u/s 80P - assessee is a Primary Rural Agricultural Co-operative Credit Society duly registered u/s 7(1) of Kerala Co-operative Society Act, 1969 - Adjustment u/s 143(1) - HELD THAT:- Taking note of the certificate issued by the assistant Registrar of Co-operative Society that the assessee is a Primary Rural Agricultural Co-operative Credit Society duly registered u/s 7(1) of Kerala Co-operative Society Act, 1969 (Act 21 of 1969), we hold that it is eligible for exemption/deduction and no adjustment could have been made under section 143(1)(a) of the Act, unless notice was issued proviso to section 143(1)(a) of the act and in the light of the fact that assessee has made the claim u/s 80P(2) of the Act albeit in Schedule BP clearly filing up the column of exempted income of Co-operative Society u/s 80P(2) of the Act, the deduction ought to have been allowed; and since adjustment has been made by disallowing the same u/s 143(1) of the Act, without intimation, and failure to consider the response to it as provided by proviso to subsection (1) of section 143 of the Act cannot be sustained and directed to be deleted. Appeal of the assessee is allowed.
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