TaxTMI 
TaxTMI 
2024 (7) TMI 946
X X X X Extracts X X X X
X X X X Extracts X X X X
.... No. 2997/Mum/2023 for A.Y 2011-12 as lead case and facts narrated. The assessee has raised the following grounds of appeal 1. I. Addition of Rs. 2,06,737/-: 1. The ld CIT(A) erred in upholding the disallowance of deduction u/s 80P(2) clause (d) of the Act in regards to the interest income received from co-operative bank of Rs. 2,06,737/- by the assessee a co- operative society from its investments on the alleged ground that ITR was filed beyond due date, without appreciating that the due date for filing the return of income for AY 2011-12 was 30/09/2011 and return was filed on 20/09/2011 therefore the deduction may be allowed. 2. The learned CIT(A) erred in upholding disallowance of the claim u/s. 80P(2) on the ground that assessee h....
X X X X Extracts X X X X
X X X X Extracts X X X X
....P(2)(d) of the Act of Rs. 2,06,737/-.Whereas the return of income was processed u/s 143(1) of the Act by denying the deduction u/sec 80(P)(2)(d) of the Act as the return of income was filed after the due date u/sec 139(1) of the Act and the order u/sec 143(1) of the Act dated 06-08-2014 was passed determining a total income of Rs. 3,36,670/-.Against the order u/sec 143(1) of the Act, the assessee has filed rectification petition u/sec154 of the Act and it was rejected vide order dated 17.11.2022. 4. Aggrieved by the rectification order, the assessee has filed an appeal before the CIT(A), whereas the CIT(A) has considered the grounds of appeal, statement of facts, submissions of the assessee substantiating the filing of the return of income....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... record. The Ld. AR contentions are that the CIT(A) has erred in confirming the action of the AO in denying deduction u/sec 80(P)(2)(d) of the Act overlooking the fact that the assessee is a cooperative society and the Books Of Account are audited under Cooperative societies Act and return of income was filed within the due date U/sec139(1) of the Act though the due date was extended to 31-10- 2011 as per CBDT order. Whereas the due date of filing of the return of income is 30-09-2011, as the assessee being a cooperative society and the books of accounts are audited under other laws. Whereas the Books of Accounts of the Assessee are Audited under the Cooperative societies Act and the asseessee has obtained Audit report on 09-07-2011 and the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ase, as well as the provisions of section 139 of the Act and observe that in the AY 2018-19, in case of person (other than a company) whose accounts were required to the audited under this Act or under any other law for the time being in force, as per Explanation-2 (a)(ii) of section 139(1) of the Act, the due date for filling of ITR was 30th September however the said due date of 30th September, has subsequently been substituted with 31st October vide finance Act 2020 with effect from 1st April, 2020. 8.2 The Assessee being a Co-Operative Housing Society governed by Maharashtra Co-Operative Society Act 1960 required to be audited under Maharashtra State Co-Operative Act and therefore was liable to file its return of income upto 30-09- 20....