TaxTMI 
TaxTMI 
2025 (4) TMI 1843
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....was recalled in the M.A No.10/Hyd/2024 vide order dated 04/03/2025 for fresh adjudication of the appeal of the assessee. The relevant observation of the Tribunal in order dated 4/3/2025 in M.A. No.10/Hyd/2024 in para 4 to 8 reads as under: "4. We have considered the rival submissions as well as carefully perused the orders of the authorities below as well as the impugned order of this Tribunal. For the A.Y 2018-19, the assessee has raised the following grounds of appeal: 1 The order of the learned First Appellate Authority is not correct either in law or on facts and in both. 2 The learned First Appellate Authority is not justified in confirming the action of the Assessing Officer denying deduction u/s 80P(2....
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....not justified in confirming the action of the Assessing Officer denying deduction u/s 80P(2) in respect of interest received on deposits made in Nationalised Banks amounting to Rs. 6,77,560/-." 6. Thus, the grounds raised by the assessee for the A.Y 2016-17 are also arising from the order passed by the Assessing Officer u/s 154 of the I.T. Act, 1961 and to that extent the grounds for the A.Ys 2016-17 and 2018-19 are identical except the fact that for the A.Y 2018-19, the Assessing Officer has disallowed the claim of the assessee only on the ground that there was a delay in filing the return of income. Since the Assessing Officer already allowed the claim of the assessee u/s 80P(2) while passing the assessment order u/s 143(3) dated....
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....r delay in filing of return for the A.Y. 2018-2019 is that there was a delay of receipt of audited report and audited financial statement from the assistant registrar of the state of Andhra Pradesh. The statutory audit as required under the AP Co-operative Societies Act was conducted on 31.10.2018 and the due date for filing return of income u/s. 139 (1) for AY.2019-20 (tax audit) is 30.09.2018. Further,it is noticed that date of receipt of Co-operative Audit was on 14.11.2018 and the assessee filed return under 139(4) on 14.12.2018. It is informed by the assessee that delay of 30 days was due to operational difficulties. The requirements for Condonation u/s 119(2)(b) of the Act as per circular i.e delay caused due to circumstances beyond t....
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.... claim u/s 80P(2) is no more in existence once the delay in filing the return of income has been condoned by the learned CIT. Thus, the learned AR has submitted that the impugned order of the authorities below are liable to be set aside and the claim of deduction u/s 80P(2) be allowed. 4. On the other hand, the learned DR has not disputed the fact that the delay in filing the return has been condoned by the learned CIT vide order dated 13/12/2023. 5. Having considered the rival submission and careful perusal of the relevant record, we find that the Assessing Officer denied the claim of deduction u/s 80P(2) of the Act on the ground that there is a delay in filing the return of income for the year under consideration. The assessee appro....