2025 (10) TMI 564

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.... section 80P of the Act. 2. Briefly the facts of the case are that the assessee is a primary Agriculture Co-operative service society registered under Societies Act. It filed its return of income on 27/12/2018 which was processed under section 143(1) by CPC Bangaluru and vide its intimation dt. 31/05/2019, the claim of deduction under section 80P has been denied. 3. Being aggrieved, the assessee filed the rectification application under section 154 and the said rectification application was also rejected by the JAO vide order passed under section 154 r.w.s. 143(1) dt. 21/10/2020. 4. The assessee carried the matter in appeal before the Ld. CIT(A) who has sustained the said action of the CPC/JAO. 5. Against the said findings, the assessee....

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....wance in compliance with first proviso to Section 143(1)(a) of the Act and has straight away made the adjustment by way of denial of claim of deduction under section 80P of the Act. 8. It was further submitted that no doubt, Section 80AC as amended by the Finance Act, 2018 mandated that even for claiming deduction claimed under section 80P of the Act, the return of income has to be fled before due date as specified under section 139(1) and 139(4) however it is a matter of fact that Sub- Clause (v) of Section 143(1)(a) was amended by the Finance Act 2021 and therefore, the enabling provision to address the amendment in Section 80AC came into place only w.e.f A.Y. 2021-22 and therefore, the CPC Bangaluru doesn't have the necessary jurisdicti....

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....he Ld.CIT(A) wherein the latter has placed reliance on the amended provisions of section 80AC wherein it has been held that in order to claim the deduction under section 80P, the return of income has to be filed within the specified time under section 139(1) of the Act and since, in the instant case, the return has been filed on 27/12/2018, the assessee is not eligible for deduction. 12. Have heard the rival contentions and pursued the material available 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 re....