TaxTMI 
TaxTMI 
2020 (10) TMI 1010
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.... M. Narmada, DR ORDER PER A. MOHAN ALANKAMONY, AM.: These appeals are filed by the assessee against the orders of the Ld. CIT (A)-5, Hyderabad in appeal Nos.0229 & 0229A/2016-17/CIT(A)-5, dated 24/01/2018 and 31/1/2018 passed U/s. 154 r.w.s 250(6) of the Act for the AY 2006-07 and 2008-09 respectively. 2. The assessee has raised five identical grounds in its both appeals for the AYs 2006-07 an....
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....ding small scale loans to poor and marginal farmers. Since, the assessee has not filed its return of income for the AY 2006-07 and 2008-09 notices were issued U/s. 148 of the Act. Thereafter, the assessee file its return of income for both the AYs and both the assessments were completed by the Ld. AO U/s. 143(3) r.w.s 147 of the Act on 25/03/2013 wherein the ld. AO assessed the income of the asse....
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....t or within the time limit specified in the notice U/s. 142(1) of the Act. (ii) Penal section 276CC of the Act will be attracted for non-filing the return of income. (iii) Section 80A(5) provides that "where the assessee fails to make a claim in his return of income for any deduction U/s. 10A or section 10AA or section 10B or section 10BA or Under any provision of this Chapter under the headin....
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....g deduction U/s. 80P of the Act for not filing the return of income within the due date provided U/s. 1391(1) and 139(4) of the Act. The ld. DR though vehemently argued in support of the orders of the ld. Revenue Authorities could not successfully controvert to the submissions of the ld. AR. 6. After hearing both sides, we find merit in the arguments advanced by the ld. AR. The assessee had filed....