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TMI Blog2024 (9) TMI 208X X X X Extracts X X X X X X X X Extracts X X X X ..... issue, such as claim of deduction u/s 80P(2)(d) is permissible while processing the return u/s 143(1) of the Act. Further, the delay in filing of appeal was due to the bonafide belief that the intimation u/s 143(1) would be rectified u/s 154 by the AO. Due to delay in disposal of assessee s rectification application, an appeal was also filed by way of abundant caution. The delay in filing of appeal was duly explained through an affidavit filed before the Addl. CIT(A). We hereby allow the appeal of the assessee. AO is directed to delete the disallowance of claim of deduction u/s 80P(2)(d). - Shri Sandeep Singh Karhail, Judicial Member And Smt. Renu Jauhri, Accountant Member For the Appellant : Shri Rajesh Shah For the Respondent : Shri R. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3-14 are as under: 1 On the facts and the circumstances of the case and in law, the learning Addl/JCIT (A) erred in not condoning the delay in filing an appeal though there was reasonable cause due to which the appellant was prevented from filing the appeal in time. 2 On the facts and the circumstances of the case and in law, the learning Addl/JCIT (A) erred in not condoning the delay in filing an appeal and dismissing the appeal in limine and not considering the merits of the case. 3 The CIT(A) erred in not considering that the interest received of Rs. 13,83,484 from Co- operative Banks is allowable under section 80P(2)(d) of the Act. The CIT(A) erred in not considering that CPC has wrongly made adjustment which is not envisaged u/s. 143(1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n u/s 143(1) of the Act. Further, the delay in filing of appeal was due to the bonafide belief that the intimation u/s 143(1) would be rectified u/s 154 by the AO. However, due to delay in disposal of assessee s rectification application, an appeal was also filed by way of abundant caution. The delay in filing of appeal was duly explained through an affidavit filed before the Addl. CIT(A). The Ld. AR has also placed reliance on the following decisions of the co-ordinate benches: a. ITA No. 682/Mum/2024 Vishva Villa Co-operative Housing Society Ltd. b. ITA No. 884/Mum/2024 Shri Brijkutir Co-operative Housing Society Ltd. 6. We find that the facts of this case are similar as in the case of Vishva Villa Co-operative Housing Society Ltd. (supra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... act 2021 with effect from A.Y. 2021-22, disallowance of claim of deduction under chapter VIA can be made, if the return has been furnished beyond the due date of return of income filed u/s. 139(1). Here in this case the CPC has treated the due date of return of income as on 31/08/2012 for A.Y. 2012-13 and 05/08/2013 for A.Y. 2014-15, whereas the return has been filed by the assessee on 02/09/2012 and 20/09/2013 respectively. 10. Admittedly assessee is a Co-operative Housing Society registered under Maharashtra Society act 1960 and as per the said act of the Co-operative Housing Societies have to get their accounts audited ones there is requirement to furnish and audit before from Charted Accountant, and therefore the due date was 31/10/201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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