TaxTMI 
TaxTMI 
2026 (5) TMI 720
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....rom the order under section 143(1) of the Income Tax Act, 1961 dated 28.12.2024. The Assessee has raised the following grounds of appeal : "1. The lid. CIT(A) erred by making addition/disallowance of income amounting to Rs. 1,06,750/- (Rupees One Lakh Sox Thousand Seven Hundred Fifty Only) to the total income which is ad hoc, arbitrary and was without any basis 2. The Lid. CIT(A) erred without considering the provision of Income Tax Act, 1961 as well as facts of the case and the nature of transactions is not good in law. 3. The Ld. CIT(A) erred by not granting deduction u/s 80P of the Act, although all the conditions are satisfied the applet and hence, bad in law. 4. The order appealed against is contradi....
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....d.CIT(A). The grounds of appeal filed by the Assessee before Ld.CIT(A) which have been reproduced by the Ld.CIT(A) are as under : 3.1 Ld.CIT(A) has directed the Assessing Officer to treat the Assessee as a cooperative society and calculate the tax accordingly. The Assessing Officer has accordingly calculated the Tax . 4. In this case the Assessee has filed Return of Income declaring Total Income at Rs. 1,06,750/-. Assessee had not claimed any deduction u/s 80P of the Act in the Return of Income. The relevant part of the Return of Income is scanned as under : 4.1 We have verified the return of Income filed by the Assessee and noted that Assessee had never claimed any deduction u/s 80P of the Act. Therefore, Assessing Officer has not....
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....ions in respect of certain incomes", no deduction shall be allowed to him thereunder. 6. We have reproduced Section 80A(5) and Section 80AC of the Income Tax. Conjoint reading of these two sections makes it clear that Assessee has to file Return of Income before the due date mentioned in Section 139(1) of the Act and Assessee has to claim the deduction in the Return of Income. 6.1 In the case of the Assessee the Assessee has NOT Claimed any deduction u/s 80P of the Income Tax Act in the Return of Income. Also, the Return of Income was Not Filed within the due date mentioned u/s 139(1) of the Act. Thus, assessee has violated both the conditions. Therefore, the Assessee is not eligible for deduction u/s 80P of the Income Tax Act. Accord....
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..../'s 143(1) 01 5 HEADS OF INCOME Income from house property 8 Profits and Gains freen business or profession 88 Capital gains Income from other sources 1,06,749 1,06,749 05 8 Intra head adjustments of current year losses 06 Total (after intra head adjustments) [6-(1+2+3+4) 1,06,749 1,06,709 B Losses of current year to be set off against 6 . Balance after set off of cument your losses (0-(5 - 7)0 1,06,749 Brought forward losses to be set off against # 10 Gross total income [10-(8-1)] 1,06,749 1,06,740 11 SPECIAL INCOME () Income chargeable to tax at special rate w's 11508€ 0) Income chargeable to tax at special rate other than section 11500€ 17 DEDUCTIONS UNDER CHAPTER VIA (a....
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....nting to Rs. 1,06,750/- (Rupees One Lakh Six Thousand Seven Hundred Fifty Only) which resulted into a demand of Rs.49,310/- (Rupees Forty-Nine Thousand Three Hundred and Ten Only) made by the Ld. Assessing Officer X DEPART 6. The appellant requests for admission of additional evidences, if any, required in support of its grounds of appeal. 7. The appellant craves to add, amend, alter or delete any of the grounds of appeal 8. Such other orders are passed as deemed ft and proper. Document 3 Acknowledgement Number : 524953570280924 Date of Filing : 28-Sep-2024+ BOIC / BOIE (e of Schedule 80-IC/ 80-IE) - Special provisions in respect of certain undertakings of enterprises in certain special DEPART 0 0 category States/Spe....