2024 (2) TMI 152

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.... 2018- 19 by ITO, NFAC, Delhi dated 10.08.2021 u/s. 272A(1)(d) of the Income-tax Act, 1961 (hereinafter referred to as the "Act") and against the assessment order by ITO, Ward-23(1), Hooghly dated 22.11.2016 u/s. 143(3) of the Act for AY 2019-20 respectively. 2. Both the appeals are time barred by 14 days. In respect of AY 2018-19 the assessee has filed an affidavit explaining the reasons for condonation of delay due to non-existence of board from 01.04.2022 to 01.07.2023, Members of the board were made through election process. Board was reconstituted on 01.07.2023. Considering the stated facts on record, the brief delay of 14 days is condoned. 3. First we take up ITA No. 669/Kol/2023 for AY 2019-20. Grounds of appeal in respect of AY 20....

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....udited under the rules and regulations of West Bengal Cooperative Societies Act, 2006 by the auditor appointed by Directorate of Cooperative Societies. For the AY 2018-19 due date for filing the return was 31.08.2019. However, the return was submitted on 26.06.2020. 6. We note that the Central Processing Centre denied the deduction u/s. 80P of the Act solely for the reason that return was not filed within the due date. Provisions of section 143(1)(a)(v) provides that - "(v) disallowance of deduction claimed under section 10AA or under any of the provisions of Chapter VIA under the heading "C - Deductions in respect of certain incomes", if the return is furnished beyond the due date specified under sub-section (1) of section 139;" 6.1. I....

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..... 80P of the Act came to CPC only from 1.4.2021 and thus, the alleged disallowance by CPC is beyond its jurisdiction. Therefore, the assessee deserves relief. We are thus inclined to hold that the Ld. CIT(A) erred in denying the deduction u/s 80P of the Act for Rs. 23,98,593/-. We, therefore, set aside the order of the Ld. CIT(A) and allow the grounds of appeal raised by the assessee for the claim of deduction u/s. 80P of the Act at Rs. 23,98,593/-. 9. In the result, appeal of the assessee is allowed. 10. Now, we take up ITA No. 668/Kol/2023 for AY 2018-19 which is in respect of imposing a penalty of Rs. 20,000/- u/s. 271A(d). In this respect, ld. AO has noted that notices u/s. 142(1) were issued and served on the assessee. However, no co....