Changanachery North Service Co-op. Bank Ltd. vs. The Income Tax Officer

Parties Involved

Facts Summary

This assessee’s appeal for A.Y. 2019-20 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/ NFAC/S/250/2023-24/1059420466(1) dated 05.01.2024 in proceedings u/s. 154 of the Income Tax Act, 1961 (the Act). The assessee filed its appeal on 21.07.2023 with a delay of 875 days, including the period of the Covid-19 pandemic. The Revenue submits that the Assessing Officer had framed the impugned assessment on 28.01.2021. The learned CPC's sec.143(1)(a)(v) 'processing' dated 03.01.2021 had disallowed the assessee's sec.80P(2) deduction claim of Rs. 1,40,52,151/-; which was confirmed by the CIT(A)-NFAC. The legislature has amended section 143(1)(a)(v) enabling provision to this effect by way of amendment in the Finance Act, 2021 w.e.f. 01.04.2021 whereas the impugned assessment order is AY 2019-20.…

Legal Issues

• 1. Undue delay in filing the appeal
• 2. Disallowance of sec.80P(2) deduction claim

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Kodanchery Panchayath Vanitha Co-op. Society Ltd. vs. The Income Tax Officer - 2(3)

  Cochin bench

• The Kottarakara Taluk Housing Cooperative Society Limited vs. The Income Tax Officer, Ward-2, Kollam

  Cochin bench

• Satgram R Collery Employees Cooperative Credit Society Ltd vs. ACIT, Circle-1, Asansol

  D Bench Kolkata benchAY 2019-20Allowed

• Muppathadam Service Cooperative Bank Limited vs. The Income Tax Officer

  Cochin bench

• Avanakuzhi Service Co-operative Society Ltd. vs. The Addl./Joint/Deputy/Assistant Commissioner of Income Tax / Income Tax Officer, NFAC, DELHI.

  Cochin bench

• Kannur District Police Cooperative Society vs. The Income Tax Officer

  Cochin bench