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TMI Blog2024 (9) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... e cooperative society with any other cooperative society. This issue was considered by the Hon ble Karnataka High Court in the case of CIT vs. Totagars Cooperative Sale Society [ 2017 (1) TMI 1100 - KARNATAKA HIGH COURT] wherein after referring to the decision of Totgar s Co-operative Sale Society Ltd [ 2010 (2) TMI 3 - SUPREME COURT] held that the ratio of decision of the Hon ble Supreme Court is not to be applicable in respect of interest income on investment as same falls under the provisions of section 80P(2)(d) and not u/s 80P(2)(a)(i) of the Act. The interest income earned by cooperative society on deposits made out of surplus funds with cooperative banks qualify for deduction under the provisions of section 80P(2)(d) - grounds of app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sub-section (4) of section 80P. 3. Being aggrieved, an appeal was filed before the ld.NFAC with a delay of 90 days. The appellant society filed explanation praying for condonation of delay by stating that the delay had occurred due to the fact that the appellant society is situated in a village at a distance of 90 kms from the District Headquarter. As a result of the distance, there was delay in obtaining the legal advice in filing the appeal. Thus, it was prayed before the NFAC that the delay in filing the appeal be condoned. However, the ld. NFAC had refused to condone the delay by holding that the appellant cannot sleep over the issue in filing the appeal for more than 120 days after the assessment order was passed. The ld. NFAC also ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that it was filed more than 90 days after the assessment order came to be passed. No litigant stands to benefit in approaching the courts belatedly. It is not the length of delay that would be required to be considered while examining the plea for condonation of delay, it is the cause for delay which has been propounded will have to be examined. If the cause for delay would fall within the four corners of sufficient cause , irrespective of the length of delay same deserves to be condoned. However, if the cause shown is insufficient, irrespective of the period of delay, same would not be condoned. Applying the above principles to the facts of the case, we are of the considered opinion that in view of the above settled position of law ..... X X X X Extracts X X X X X X X X Extracts X X X X
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