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

Parties Involved

Facts Summary

This assessee's appeal in ITA No.435/Coch/2023 for assessment year 2011-2012 arises out of the order of the Commissioner of Income-tax (Appeals) / NFAC vide DIN & Order No.ITBA/NFAC/S/250/2022-23/1051187605(1) dated 23.03.2023, passed u/s.250 of the Income-tax Act, 1961. The assessee's deduction claim under section 80P was disallowed by the lower authorities because it had not been raised in a return, contrary to section 80A(5) of the Act. The learned counsel did not dispute this fact. The Tribunal concluded that the disallowance was rightly done by the lower authorities based on the case of EBR Enterprises v. Union of India (2019) 415 ITR 139 (Bom.).…

Legal Issues

• 1. Whether the deduction claim under section 80P was rightly disallowed by the lower authorities?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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