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TMI Blog2024 (4) TMI 978X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment order passed u/s 143(3) was received in assessee's mail id, but no physical copy was served. 3. That the said appellate order was overlooked by us since we are not in habit of accessing the mails on regular basis. 4. That on or around 28.11.2022 when Sri Kousik Gupta, tax consultant of the assessee accessed the income tax portal to ascertain the status of case of the assessee, thereupon he noticed that an appellate order had already been passed on 30.06.2022. 5. That then we contacted Advocate Sri Subash Agarwal for filing an appeal on 29.11.2022 and the appeal was accordingly prepared by him and the same was deposited in the office of the Hon'ble Tribunal on 12.12.2022 with a delay of around of 106 days. 6. That the facts stated in paras 1 to 5 are true to the best of my knowledge and belief." 3. The ld. Counsel appearing on the behalf of the assessee submitted that the considering the facts and circumstances stated in the petition the delay of 105 days may be condoned based on the stated facts. 4. On the other hand, the ld. D/R objected to the petition and stated that appellate order was passed by CIT(A) NFAC and appellant Society was aware of the proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. The time-limit fixed for approaching the court in different situations is not because on the expiry of such time a bad cause would transform into a good cause. 11. Rules of limitation are not meant to destroy the rights of parties. They are meant to see that parties do not resort to dilatory tactics, but seek their remedy promptly. The object of providing a legal remedy is to repair the damage caused reason of legal injury............... The law of limitation is thus founded on public policy. It is enshrined in the maxim interest reipublicae ut sit finis litium (it is for the general welfare that a period be put to litigation). Rules of limitation are not meant to destroy the rights of the parties. They are meant to see that parties do not resort to dilatory tactics but seek their remedy promptly. The idea is that every legal remedy must be kept alive for a legislatively fixed period of time. 12. A court knows that refusal to condone delay would result in foreclosing a suitor from putting forth his cause. There is no presumption that delay in approaching the court is always deliberate...... 13 It must be remembered that in every case of delay, there can be some lapse on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. In first appeal, ld. CIT(A) dismissed the appeal of assessee Society by concurring the findings given in the assessment order without making any comments upon the submissions made by the appellant Society during the appellate proceedings. 9. Before us the ld. counsel for the appellant Society submits that the assessee is a Society registered under the West Bengal Co-Operative Societies Act, 2006 and is a Primary Agricultural Credit Society ("PACS" in short) and engaged in providing financial assistance to its members for agricultural activities. The ld. A/R draw our attention to object clause No. 2 which supports this contention, the said object reads as under: "2. To prepare short, medium and long term agricultural and non-agricultural loans to members." 10. He submitted that the assessee Society is a PACS and is entitled to deduction in terms of the provisions of section 80P(4) of the Act. It is further argued by ld. A/R that appellant Society is providing credit facilities to its members and also provided the details of the persons to whom credit facilities was provided and stated that lower authorities were wrong in observing that the appellant Society had provided credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n connection therewith for the purpose of supplying them to its members, the whole of the amount of profits and gains of business attributable to any one or more of such activities: Provided that in the case of a co-operative society falling under sub-clause (vi), or sub-clause (vii), the rules and bye-laws of the society restrict the voting rights to the following classes of its members, namely:- (1) the individuals who contribute their labour or, as the case may be, carry on the fishing or allied activities; (2) the co-operative credit societies which provide financial assistance to the society; (3) the State Government; (b) in the case of a co-operative society, being a primary society engaged in supplying milk, oilseeds, fruits or vegetables raised or grown by its members to- (i) a federal co-operative society, being a society engaged in the business of supplying milk, oilseeds, fruits or vegetables, as the case may be; or (ii) the Government or a local authority; or (iii) a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956), or a corporation established by or under a Central, State or Provincial Act (being a company or corporati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , section 80-HHC, section 80-HHD, section 80-I, section 80-IA, section 80-J and 80-JJ. (4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank. Explanation. - For the purposes of this sub-section,- (a)"co-operative bank" and "primary agricultural credit society" shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949); (b)"primary co-operative agricultural and rural development bank" means a society having its area of operation confined to a taluk and the principal object of which is to provide for long-term credit for agricultural and rural development activities." 13. Section 80P(2)(i) of the Act, provides that where co-operative Society is engaged in providing credit facilities to its members, the whole of the amount is entitled for the deduction u/s 80P. In the present case though the assessee has provided the list of persons to whom the credit facilities were provided but failed to establish to the satisfaction of the ld. AO that all such persons are its members. Furth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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