Sectio 80P

[JAYAKUMAR MG]

Dear Experts

Kindly advice the remedy available to a Primary Agricultural Cop-Operative Society eligible for exemption u/s 80 P filed their return in first time after receiving Notices from Income Tax Department for AY 2018-19 on 30 th March 2019 .Now they received Intimation u/s 143 from CPC not allowing the 80 P Exemption and taxed the full amount at Normal rate. In this case please note that the due date was extended up Feb 28 due to Flood in Kerala but the benefit could not enjoyed due the fact that the date extended information was received on;ly on Feb 27, 2019. In this case what is the remedy / remedies availble the assessee agrieved by the intimation

Thanks in advance

AI Summary

Co-operative Society's Late Tax Return Faces Section 80P Exemption Denial; Seeks Remedies for Disallowance Without Specific Reason. A Primary Agricultural Co-operative Society filed its tax return late for the assessment year 2018-19 after receiving notices from the Income Tax Department. Despite an extension due to floods in Kerala, they submitted the return on March 30, 2019, missing the February 28 deadline. Consequently, they received an intimation under Section 143, disallowing the Section 80P exemption and taxing the full amount at the normal rate. The society seeks advice on remedies available, as no specific reason was provided for the disallowance, except that certain deductions, including Section 80P, are not allowed for late submissions.