TaxTMI 
TaxTMI 
2023 (4) TMI 687
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....nfirming the same are illegal, unjust, arbitrary and opposed to the facts of the case and need to be quashed and addition to be deleted in toto and the tax and interest be reduced to nil. (ii) the Authorities below, while considering the claim of deduction under section 80-P amounting to Rs. 2,27,994/-without complying with provisions of provio l & 2 to section 143 (1)(a), i.e. opportunity of hearing and without considering objections of the assessee that there is no provision in this section to make this type of adjustment and without following the principles of natural justice to give opportunity of hearing, in spite of there being no disallowance of the same, wrongly giving priority to the provisions of section 80AC of the Income Tax A....
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....the Ld. CIT(A), the Assessee contended that the Audit Report under the Act had taken time to complete, which was the reason for the delay in filing the return, which delay was beyond the Assessee; that the Audit Report was dated 27.12.2018, and it was only after filing thereof, that the return was filed on 13.10.2018; that the amendment under section 80C is advisory and not mandatory; that no opportunity of hearing had been given to the Assessee; and that such an adjustment could not be made u/s 143(1) of the Act. Reliance was placed on, inter alia, 'M/s Chirakkal Service Cooperative Bank Ltd.', 384 ITR 190 (Kerala), holding that even if the return was filed late, the deduction u/s 80P of the Act should be allowed, as long as the re....
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....y Ltd., VPO Lanjani, Kangra (HP) v. The DCIT (CPC) Bangaluru' , ITA No. 332/Chd/2021, for assessment year 2018-19 and other cases. 6. On the other hand, the ld. DR has placed strong reliance on the impugned order. 7. We have heard the rival contentions and have perused the material on record. It is not in question that section 80AC of the I.T. Act, as amended by Finance Act, 2018, stipulated that for claiming deduction u/s 80P of the Act, the return of income was required to be filed before the due date, as prescribed by section 139(1) and in the present case, the return was filed belatedly. However, it was only by the amendment to section 143(1) (a)(v) brought in by Finance Act, 2021, that the CPC can be said have been vested, exerci....