Co-operative Society Denied Tax Deduction for Late Income Return Filing, ITAT Cochin Rules for Assessment Year 2009-10.

The ITAT Cochin dismissed the appeal of a co-operative society for the assessment year 2009-10, ruling that the society was ineligible for the deduction under section 80P(2)(a)(i) of the Act. The Tribunal determined that the failure to file the return of income within the specified time precluded eligibility for the deduction.

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The assessee co-operative society appealed against the CIT(A)'s order for AY 2009-10 concerning deduction under section 80P(2)(a)(i). The Tribunal refused adjournment and heard the Revenue. It was undisputed that the assessee had not filed a return under section 139(1) or 139(4) nor within the time specified in notices under sections 142(1) or 148. Relying on its earlier decision in Kadachira Service Co-operative Bank Ltd (ITA No.251/Coch/2012 & Ors, order dated 31-01-2013), the Tribunal applied section 80A(5) and held that "unless the assessee filed the return of income u/s 139(1) or 139(4) or within the time specified in notice issued u/s 142(1) or 148 of the Act, the assessee is not entitled for deduction u/s 80P(2)(a)(i) of the Act." For the reasons stated in the Kadachira decision, the appeal was dismissed.

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