TaxTMI 
TaxTMI 
2025 (6) TMI 1321
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....4 r..w.s.147 of the Act. 2. Assessee has raised following grounds of appeal : "1. On the facts and in the circumstances of the case and in law, Ld. AO erred in passing an order u/s. 144 res 147 by making a disallowance of the claim made u/s 80P of Rs. 30,51,273/-, especially in view of the fact that the case was reopened u/s 147 for the reason of cash deposit and no addition is made on account of cash deposit and therefore the action of disallowance of claim is not warranted, in view of Jurisdictional High court judgment in case of CIT V/S. Jet Airways (() Ltd. [2011] 331 ITR 236 (Bombay). 2. Without prejudice to the above ground, on the facts and in the circumstances of the case and in law, Ld. AO erred in making an addition of Rs. 30....
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....ed deduction u/s. 80P of the Act. Ld. AO was satisfied with the details filed about the source of cash deposit but denied the deduction u/s. 80P of the Act as the assessee did not file the return of income and accordingly assessed the income at Rs. 30,51,270/-. 4. Assessee challenged this addition before ld.CIT(A) but failed to succeed. Aggrieved assessee is now in appeal before this Tribunal. 5. Ld. Counsel for the assessee referring to the legal issue raised in Ground No.1 stated that in view of judgment of Hon'ble Jurisdictional High Court in the case of CIT Vs. Jet Airways (I) Ltd. reported in (2011) 331 ITR 236 (Bombay) the impugned assessment proceedings deserves to be quashed as the reason for which reassessment proceedings were in....
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....al issue raised vide Ground No.1 in the grounds of appeal is concerned, we find that the reason for carrying out the re-assessment proceedings was regarding explanation about the source of cash deposit of Rs. 35,00,821/-. It is noticed that assessee neither had PAN nor has filed any return of income for the year under consideration. It was only during the course of re-assessment proceedings that ld. AO was able to examine the details in the form of Annual Report and Books of account. In the assessment order, ld. AO has nowhere doubted the source of alleged cash deposit which was from the Members of the society and therefore no addition was made on this account. Ld. AO has disallowed the deduction u/s. 80P of the Act by applying section 80A(....
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....ised in Ground No.2 through which it has been contended that even if the assessee has not filed the return of income but since it has carried out the activity as a cooperative society which is duly registered under Maharashtra Cooperative Societies Act, 1960 and has maintained the details of Income and Expenditure Account during the year, the assessee is eligible for deduction u/s. 80P(2)(a)(i) of the Act and that section 80A(5) of the Act is not applicable as it is applicable only in case return of income is filed. We observe that the assessee has referred and relied on the decision of Coordinate Bench, Bangalore in the case of Prathamika Krishi Pattina Sahakara Sangha Ltd. (supra) wherealso similar issue was there where the assessee did n....
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....provisions contemplate filing of return of income to claim deductions under certain provisions of Chapter VI "A" of the Act and 80P is not one of the section which is mentioned in section 80AC of the Act. He therefore submitted that the deduction under section 80P of the Act cannot be denied to the assessee for non filing of return of income. Learned DR, on the other hand, reiterated the stand of the Revenue as reflected in the order of the CIT(A). 8. I have given a careful consideration to the rival submissions. I agree with the submissions of the learned Counsel for the assessee that section 80A(5) of the Act is applicable only when a return of income is filed by an assessee and a deduction under Chapter VI "A" of the Act, is not claime....