Erimayur Service Co-operative Bank Limited v. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Erimayur Service Co-operative Bank Limited, filed an appeal against the order of the Commissioner of Income-tax (Appeals) / NFAC dated 10.08.2023, concerning the assessment year 2011-2012. The assessee challenged the validity of the impugned reopening of the assessment without providing corresponding reasons recorded by the Assessing Officer. The assessee also claimed a deduction under section 80P of the Income-tax Act, 1961, due to non-compliance with section 80A(5) of the Act, which requires the deduction to be raised in a return. The assessee had filed its return post facto the Assessing Officer’s assessment framed on 15.12.2016.…

Legal Issues

• 1. Validity of the impugned reopening of the assessment
• 2. Section 80P deduction claim due to non-compliance with section 80A(5)

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Shree Anjana Co-op Credit Soc. Ltd. Vs. ITO

  Ahmedabad bench

• DCIT, Central Circle-15, New Delhi vs Sumati Garg

  Delhi Bench ‘F’, New Delhi benchAY 2009-10Dismissed

• Thavinjal Service Co-op. Bank Ltd. vs. The Income Tax Officer

  Cochin bench

• The Kadanad Service Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench

• M/s. Puthiyangadi Service Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench

• Udupi Taluk Protestant Christian Credit Co-operative Society Ltd. vs. ITO

  Bangalore benchAY 2018-19Allowed