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of <h1>Court quashes orders, upholds exemption for Cooperative Society under Income Tax Act</h1> <h3>M/s. Kammavari Credit Co-Operative Society Limited, Versus The Asst. Commissioner of Income Tax, Circle 4 (1), Bengaluru</h3> M/s. Kammavari Credit Co-Operative Society Limited, Versus The Asst. Commissioner of Income Tax, Circle 4 (1), Bengaluru - [2019] 416 ITR 180 (Kar) Issues:1. Application for condonation of delay in filing revised return.2. Rejection of application for exemption under Section 80P of the Income Tax Act.3. Dismissal of revision petition on technical grounds.Issue 1: Application for Condonation of Delay in Filing Revised ReturnThe petitioner, a Society, filed a return of income for the assessment year 2007-08, initially declaring income and later filing a revised return claiming deduction under Section 80P of the Income Tax Act. The delay in filing the revised return was condoned by the petitioner. Subsequently, a Revision Petition was filed challenging an earlier intimation, leading to a series of legal proceedings and orders. The Commissioner of Income Tax ultimately rejected the delay application, leading to the filing of a writ petition seeking to quash this decision.Issue 2: Rejection of Application for Exemption under Section 80P of the Income Tax ActThe petitioner contended that as a Cooperative Society, it was entitled to exemption under Section 80P(2)(a)(i) of the Act. The petitioner argued that previous judgments and subsequent grants of exemption by the Commissioner supported their claim. The petitioner also highlighted the technicality of the rejection based on delay, which was not in line with previous decisions and the Board's instructions. The petitioner sought to quash the order rejecting the exemption application.Issue 3: Dismissal of Revision Petition on Technical GroundsThe Commissioner dismissed the revision petition on technical grounds, despite previous grants of exemption and the Board's instructions allowing for refund applications within a specified timeframe. The petitioner argued that substantial justice should prevail over technical considerations, emphasizing the need to correct injustice rather than uphold technicalities. The Court noted previous judgments and remanded the matter for reconsideration in line with established legal principles and prior decisions.In a detailed analysis, the Court considered the petitioner's entitlement to exemption under Section 80P of the Income Tax Act as a Cooperative Society, emphasizing previous judgments and subsequent grants of exemption by the Commissioner for other assessment years. The Court highlighted the need for substantial justice over technical considerations, ultimately allowing the writ petition, quashing the impugned orders, and remanding the matter for fresh consideration in line with legal principles and prior decisions.
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