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TMI Blog2024 (11) TMI 178X X X X Extracts X X X X X X X X Extracts X X X X ..... ss Accounts and Trading Account (iii) Balance Sheet. That apart, in the 12th paragraph, it has been indicated that a copy of the Audit certificate was communicated to the Society and the same along with the aforesaid documents are open for inspection by any member of the Society. Therefore, it is crystal clear that the Audit report was made available on 02.07.2019 itself and in such case, there is no substances in the reason assigned by the petitioner on the aspect of delay in receipt of the Audit report. In the application filed by the petitioner under Section 119(2)(b) of the IT Act, nothing has been stated with regard to the delay in receipt of Audit report on 24.02.2020. Even if such statement was made in the said application, the same cannot be considered as a reason for delay in filing the ITR since the Audit certificate was issued to the petitioner as early as on 02.07.2019. Therefore, the respondent had rightly rejected the application filed by the petitioner. 2nd reason of COVID outbreak occured only during the month of March 2020, whereas, the Audit report was made ready, along with the statement of (i) Receipts and Disbursements, (ii) Profit and Loss Accounts and Trading ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich, the petitioner was unable to claim the deductions, exemptions, etc., available to them under the provisions of the IT Act. 3. Further, he would submit that the aforesaid delay was occurred due to the delay in receipt of audit report and the COVID outbreak and the said aspects were explained by the petitioner in their application, which was filed under Section 119(2)(b) of the IT Act, to condone the delay in filing the ITR. However, the said application was rejected by the respondent, vide the impugned order, citing the reason that the petitioner has not provided sufficient reasons to justify their genuine hardships. 4. He would also contend that while rejecting the condone delay application, the reasons assigned by the petitioner were not at all considered by the respondent in a proper perspective, due to which, the petitioner, being co-operative society, is facing irreparable hardships. Hence, he requests this Court to pass appropriate orders to set aside the impugned order and condone the delay in filing the ITR, so as to enable the petitioner to claim their deduction available under the provisions of Section 80P of the IT Act. 5. Per contra, Dr.B.Ramaswamy, learned Senior ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e exempted under Section 80P of the IT Act, provided that they are supposed to file their ITR on or before the due date as prescribed under Section 139(1) of the IT Act. In terms of Section 80AC of the IT Act, if an Assessee failed to file their ITR on or before the due date, they will not be entitled to get any deductions. In the present case, it is an admitted fact that the ITR was not filed by the peittioner within the time limit, due to which, they were unable to claim their deductions under Section 80P of the IT Act. Under these circumstances, the petitioner had filed an application, under Section 119(2)(b) of the IT Act, before the respondent only with an intention to avail the ultimate benefits, which are available to them under Section 80P of the IT Act. 12. The subject matter of this case is pertaining to the assessment year 2019-20. As per the provisions of Section 139(1) of the IT Act, the due date for filing ITR for the said assessment year was on 31.10.2019. At this juncture, it would be apposite to extract the provisions of said Section 139(1) of the IT Act, which reads as follows: 139.- Return of Income.- (1)Every person, (a) being a company or a firm; or (b) being a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Accounts of the The 9074 Neermullikuttai Primary Agricultural Co-op Credit Society Limited, for the year ended 31st March 2019 as audited by Tmt.B.Bhuvaneshwari, Junior Co-operative Auditor and finalised by Thiru.Shunmuga Sundaram, Co-operative Audit Officer are passed 1. The Statements of (i) Receipt and Disbursement, (ii) Profit and Loss Accounts (iii) Balance Sheet as furnished by her are appended. 2 .......................... 3 .......................... 4 ........................... 5 ........................... 6 ........................... 7 ........................... 8 ........................... 9 ........................... 10 ......................... 11 ......................... 12. GENERAL: A copy of the schedule of defects on the final audit of the Society for the year ended 31st March 2019 as furnished by the Auditor is communicated herewith. The Society will keep (i) The Audit Certificate, (ii) The Receipts and Disbursement statement (iii) Profit and Loss Accounts and Trading Accounts (iv) Balance Sheets open for inspection by any member of the Society. The summary of Audit Memorandum shall also be read out at the forth coming General Body Meeting of the Society. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omission/misdeeds committed by the petitioner. Since the issue is pertaining to the revenue matters, the present condone delay petition cannot be compared at par with the other applications filed for condoning the delay in filing, representation, etc. If the delay is condoned and the present petition is entertained in the absence of genuine hardships, it would amount to further encourage the misdeeds of the petitioner. In such case, this Court is not inclined to entertain this petition. 21. That apart, as contended by the learned Senior Standing counsel appearing for the respondent, even assuming if there is any merit in the case on hand, so as to consider the request made by the petitioner, it would set a bad precedent and in future, the Assesees will approach this Court to condone the delay in filing the ITR by referring the present case as a precedent, which would ultimately defeat the object of Section 80AC of the IT Act and makes the said provision as redundant. However, there is no merits in this case even to consider on such request. The provisions of Section 80AC of the IT Act, which was introduced with effect from 01.04.2018, states as follows: 80AC.-Deduction not to be al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ir ITR and thereafter, they had filed an application before the respondent to condone the delay in filing their ITR. When such being the case, the aforesaid application is not maintainable since the ITR was already filed by the petitioner and the same was taken on record, in which case, the issue of condone delay in filing the ITR would not arise. The application was filed before the respondent, under the pretext of condoning the delay in filing the ITR, to get the benefits, viz., deductions, available under Section 80P of the IT Act. In the event if the petitioner intend to file an application to claim the deductions under Section 80P of the IT Act, they should have moved such application and prayed accordingly. 26. Even assuming that the application, which was filed under Section 119(2)(b) of the IT Act, is maintainable, as discussed above, the reasons assigned by the petitioner had not at all justified any genuine hardships faced by them in filing their ITR within prescribed time limit. Taking into consideration of all these aspects, the respondent had rightly rejected the application filed by the petitioner vide the impugned order dated 27.12.2023. Hence, the said impugned orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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