TaxTMI 
TaxTMI 
2025 (8) TMI 1671
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....(Appeals), which in turn arise, out of separate assessment orders passed by the Assessing Officer, under section 143(1) of the Income Tax Act, 1961. 2. Through these appeals, assessee assails the correctness of separate orders passed by the Commissioners of Income-tax (Appeals), in relation to the captioned assessment years 2019-20. Since these appeals are based on similar facts and common grounds of appeal, therefore I am proceeding to dispose of them by this consolidated order for the sake of convenience. The facts, as well as, the grounds of appeal raised by the assessee in ITA No. 312/Rjt/2022, have been taken into consideration for deciding these three appeals en-masse. 3. To adjudicate these three appeals, I have taken the lead ....
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....amend, alter and withdraw any ground of appeal anytime up to the hearing of this appeal. 4. Succinctly, the factual panorama of the case is that assessee before us is a Cooperative society. Before us, the assessee has raised four grounds of appeal, which are interrelated and pertain to only one issue, that is, the CPC's action in denying of exemption u/s 80P(2), by way of intimation u/s 143(1) of the Act issued on 22.12.2020, on the ground that the assessee filed its return of income for the assessment year (AY) 2019-20, beyond the prescribed time limit and as such its claim is not admissible as per provisions of section 80AC(ii) of the Act. The Assessee is a Co-operative housing Society, duly registered under the Gujarat Cooperative Soc....
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.... return of income as per section 139(1) was subject to extended period provided under sub-section (4) of section 139 of the Act. The action of the CPC and such an adjustment made by the CPC is not permissible under the Act, as section 143(1) permits adjustment only when there is arithmetical error or incorrect claim is apparent from any information in the return whereas in the instant case, none of the conditions to make adjustment u/s 143(1) of the Act, were found to be fulfilled, hence, adjustment made by the CPC, in respect of deduction u/s 80P may be held as invalid. To support its case, the ld. Counsel has relied upon the order dated 03-02-2021 of the Hon'ble ITAT Mumbai Bench passed in the case of New Ideal CHS Ltd. vs. ITO (ITA N....
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....eyond the prescribed time- limit and as such its claim is not admissible as per provisions of section 80AC(ii) of the Act. For filing of return of income u/s. 139(1) of the Act, due date is prescribed which is further extended by the higher authority as and when required. Similarly, date of return for filing of return u/s 139(4) of the Act, is also prescribed. Thus, dates of filing of returns u/s 139(1) and 139(4) are separate. In general terms, section 139(1) of the Act, states about filing of original return in due date or extended date whereas return of income filed u/s 139(4) of the Act, can be filed, if the person who fails to file the return of income within the time-limit prescribed, then as per section 139(4) of the Act, the assesse....
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....ct, allows taxpayers to file a belated return, if they miss the original deadline under Section 139(1) of the Act. However, as per the Income Tax Act, certain deductions, including those under Chapter VI-A (which includes Section 80P), must be claimed only if the return is filed within the timelines prescribed under Section 139(1) of the Act. I note that Government is promoting Cooperative societies, and if these Co-operative societies, are eligible for deductions under Section 80P of the Act, even if the return is filed late, as long as the claim is valid and substantiated, their genuine claim, should not be denied. Therefore, I remit these three lis to the file of the assessing officer to examine the claim of the assessees, under section ....