TMI Blog2020 (12) TMI 549X X X X Extracts X X X X X X X X Extracts X X X X ..... order. When the assessee has filed the return of income with Rs. Nil. Income, there is no question of payment self assessment tax. The assessee has bought these facts to the knowledge of the higher authorities but the CIT(A) has confirmed the order of levy of penalty. We considered the facts, submissions and provisions of law and set aside the order of the CIT(A) and direct the Assessing officer to delete the penalty and allow the grounds of appeal of the assessee. - ITA No. 931/Mum/2019 - - - Dated:- 17-11-2020 - Shri Pramod Kumar, Vice President And Shri Pavan Kumar Gadale, Judicial Member For the Appellant : Shri B.R. Sawant, AR For the Respondent : Ms. Shreekala Paradeshi, DR ORDER PER PAVAN KUMAR GADALE - JM: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal. In view of the said fact the income determined af ter appeal effect is nil and therefore, the order on penalty passed by the A.O becomes null and void. 5. The appellant craves leave to add, alter modify and delete all or any of the above grounds of appeal on or before the final hearing. 2. The Brief facts of the case are that, the assessee is a cooperative credit society classified as Resource Society u/sec 12 of the Maharashtra Cooperative Society Act 1960, and is engaged in business of providing credit facilities and banking activities with its members. The assessee has filed the return of income on 30.09.2012 with total income of Rs.Nil after claiming deduction u/s 80P of the Act of ₹ 9,76,280/-. Subsequently, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the fact that the assessee is a cooperative society and is entitled for deduction u/s 80P of the Act. Further, in the assessment proceedings, the A.O has disallowed the claim of deduction U/Sec 80P of the Act. But On appeal, the LdCIT(A) has allowed the assessee claim and observed that the assessee is entitled for deduction u/s 80P(2)(a)(i) of the Act. Therefore, the contentions of the Ld. AR are that, the assessee is not required to pay self assessment tax as the assessee has claimed deduction u/s 80P of the Act in the return of income filed and is not disputed and prayed for allowing the assessee s appeal. 4. Contra, the Ld. DR supported the orders of the LdCIT(A). 5. We heard the rival contentions and perused the material availa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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