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TMI Blog2024 (10) TMI 1568X X X X Extracts X X X X X X X X Extracts X X X X ..... Nadu Co-operative Societies Act, 1983, was over only on 31.12.2018. And the assessee belatedly filed the return on 20.03.2019 and had filed condonation application on 19.03.2019, which is pending before the CBDT. In this context it is noted that in the case of Mavilayi Service Co-operative Bank Ltd. [ 2021 (1) TMI 488 - SUPREME COURT] held that deduction claimed u/s. 80P of the Act shouldn t be denied, because, it is benevolent provision enacted by the Parliament to encourage and promote the cooperative sector in general. Therefore, we set aside the impugned order and restore the appeal back to the file of the CIT(A) with a direction to adjudicate the grounds of appeal raised by the assessee (u/s.80P of the Act) after CBDT passes order on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due date u/s. 139(1) of the Act, and the statutory-audit was over only on 31.12.2018 (refer Auditor s Certificate), the assessee couldn t file the RoI on or before due date for filing of RoI u/s. 139(1) of the Act. Therefore, the assessee preferred a condonation petition before the CBDT on 19.03.2019 praying for condonation of delay in filing of the RoI. The CPC gave show cause notice to the assessee as to why its claim of deduction u/s. 80P of the Act shouldn t be denied because it didn t file the RoI within the due-date u/s. 139(1) of the Act. The assessee replied about the pendency of the condonation petition filed before the CBDT. Despite, knowing about condonation petition pending before the CBDT, the CPC processed the return u/s. 143( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statutory audit as per the said Act and pursuant to that statutory audit under the Tamil Nadu Co-operative Societies Act, 1983, was over only on 31.12.2018. And the assessee belatedly filed the return on 20.03.2019 and had filed condonation application on 19.03.2019, which is pending before the CBDT. In this context it is noted that the Hon ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. Othrs. V. CIT reported in [2021] 431 ITR 1 (SC), held that deduction claimed u/s. 80P of the Act shouldn t be denied, because, it is benevolent provision enacted by the Parliament to encourage and promote the cooperative sector in general. Therefore, we set aside the impugned order and restore the appeal back to the file of the Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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