9911796707
TMI Blog2024 (7) TMI 946X X X X Extracts X X X X X X X X Extracts X X X X ..... iled the return of income on 20-09-2011 very much before the extended due date U/sec 139(1) as per CBDT order. Further the due date of filing of the return of income is 30-09-2018, as the assessee is a cooperative society and the books of accounts are audited under other laws. Further the applicability of the provisions U/sec 80AC of the Act are made in Finance Act 2018 effective from 01.04.2018 i.e from A.Y.2018-19 and the AY in consideration is A.Y.2011-12. Accordingly, considering the facts, circumstances and the ratio of the judicial decision, set aside the order of the CIT(A) and direct the AO to allow the claim of deduction u/sec 80P(2)(d) of the Act and the grounds of appeal allowed in favour of the assessee. - SHRI PAVAN KUMAR GAD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of filing the return, as assessee was subjected to statutory audit under MCS Act and therefore the due date was 30/9/2011(Extended 31/10/2011). 3. The learned CIT(A) failed to appreciate that provisions of section 80AC of the Act was applicable from AY 2018-19 onward in regards to section 80P, therefore CPC has committed mistake apparent on record in not granting the deduction u/s 80P(2) clause (d) at the time of processing the return of income under section 143(1) of the Act. 4. As per the impugned order the notice was issued on 12.06.2023 for furnishing submission on ITBA portal, the said notice was send on old email ID [email protected] and not on updated profile of Society email id i.e [email protected], which led to non comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ld. AR submitted that the CIT(A) has erred in confirming the disallowance u/s 80(P)(2)(d) of the Act treating the due date of filling the return of is 1-08-2011, irrespective of the fact that the assessee has filed the return of income within the time allowed u/s 139(1) of the Act. Further, where the books of accounts are audited under any other Law, the due date of filling of return of income for the A.Y.2011-12 is 30-09- 2011 and as per CBDT order U/sec119 of the Act the due date was extended up to 31-10-2011. Whereas the Books of Accounts of the Assessee are Audited under the Provisions of Cooperative societies Act and obtained Audit report on 09-07-2011 and filed the return of income on 20-09-2011. Further the disallowance of claim of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2011 but not the 01 August 2011 as mentioned in the order U/sec 143(1) of the Act order and was wrongly confirmed in the rectification order U/sec154 of the Act. Further the Ld.AR made submissions on the disallowance of the claim of deduction U/sec80P of the Act in the order u/sec 143(1) of the Act. Whereas, the provisions of section 80AC of the Act are incorporated in Finance Act 2018 effective from 01.04.2018 i.e A.Y.2018-19 and the present Assesseement Year is A.Y.2011-12. The Coordinate Bench of the Honble Tribunal in the case of The Nutan Laxmi Co-Operative Housing Society Ltd Vs ACIT in ITA.No1214/Mum/2023 dated 27-07-2023 has dealt on the applicability of due date U/sec139(1) of the Act in respect of Cooperative societies were the bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claim of the Assessee and consequently delete the addition made by the AO and affirmed by the Ld. Commissioner. 9. In the result, appeal filed by the Assessee stands allowed . 7. In the present case, the Books of Account of the assessee society are audited on 09-07-2011 which is not disputed by the revenue. The assessee has filed the return of income on 20-09-2011 very much before the extended due date U/sec 139(1) as per CBDT order. Further the due date of filing of the return of income is 30-09-2018, as the assessee is a cooperative society and the books of accounts are audited under other laws. Further the applicability of the provisions U/sec 80AC of the Act are made in Finance Act 2018 effective from 01.04.2018 i.e from A.Y.2018-19 an ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
