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TMI Blog2023 (10) TMI 1424X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome. On appeal before the ld. CIT(A), the action of AO was upheld. We find that in the computation of income attached with the return of income, the assessee furnished all the details. The deduction regarding interest earned from DGVCL and State Bank of India was not allowed as deduction u/s 80)(2)(d) of the Act, though before us the assessee claimed that no such claim was made by the assessee. Thus, we find that neither there was concealment of income nor furnishing inaccurate particulars of income rather it was the Assessing officer who has not accepted the claim of assessee. Thus, the ratio of decision of Reliance Petroproducts (P) Ltd. [ 2010 (3) TMI 80 - SUPREME COURT] is clearly applicable on the facts of the present case, wherein a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orised officer to handle all matters relating to taxation of assessee society, who appointed Mr. Prashant N. Kabrawala Chartered Accountant (CA) as authorised representative. Prashant N. Kabrawala gave his email and telephone number on the portal of Income Tax Department so the assessee society could not become aware whether any order has been passed or not when the recovery proceeding was initiated by the Assessing Officer, the assessee society came to know and approached the present authorised representative to pursue the matter in further appeal. Though in Form- 36, the assessee society has written as service of communication of the order as on 18/12/2022. In fact, the order was not served or came to the notice of assessee as it was serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Limited (DGVCL) and interest from State bank of India, still the assessing officer on the basis of misconception and presumptive inferences denied the benefit of deduction under section 80P(2)(d) on the basis of Totgars Cooperative Society Limited (2010) 188 Taxman 282-SC. The decisions in Totgars Cooperative Society Limited (supra) is on the deduction under section 80P(2)(a)(i) and not on 80P(2)(d). It was not the case of furnish inaccurate particulars of income as presumed by the assessing officer. Even otherwise rejection of claim of deduction would not automatically allow the assessing officer to levy penalty under section 271(1)(c). The ld. AR of the assessee submits that the case of assessee is absolutely covered by the decision of H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the fact that there is no intentional or deliberate delay on the part of assessee. Keeping in view the principle that when technical consideration is pitted against the cause of substantial justice, the cause of justice deserves to be preferred as the opposite party has no vested right in injustice. Further there is no presumption that delay is caused deliberately. Keeping in view of the aforesaid facts and considering the plea of assessee, the delay in filing appeal before the Tribunal is condoned. Now adverting to the merit of the case. 7. We find that the Assessing Officer while passing the assessment order made addition/ disallowance of Rs. 2,98,035/- on account of interest income earned from State bank of India and interest of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te particulars of income. On appeal before the ld. CIT(A), the action of Assessing Officer was upheld. 9. We find that in the computation of income attached with the return of income, the assessee furnished all the details. The deduction regarding interest earned from DGVCL and State Bank of India was not allowed as deduction under Section 80)(2)(d) of the Act, though before us the assessee claimed that no such claim was made by the assessee. Thus, considering the facts of the case we find that neither there was concealment of income nor furnishing inaccurate particulars of income rather it was the Assessing officer who has not accepted the claim of assessee. Thus, the ratio of decision of Hon'ble Supreme Court in CIT Vs Reliance Petrop ..... X X X X Extracts X X X X X X X X Extracts X X X X
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