Swamynarayan Credit and Supply Cooperative Society vs. Income Tax Officer

Parties Involved

Facts Summary

The case involves an appeal against the order of the Income Tax Officer (Appeals) dated 19.02.2024 under Section 143(1) of the Income Tax Act, 1961, regarding the income tax assessment for the financial year 2022-23. The appellant, a cooperative society, had filed a tax return on 22.10.2022, declaring total income as nil with a deduction under Section 80P of Rs. 9,65,497/-. The Income Tax Officer did not allow the deduction as the return was filed late. The appellant filed an appeal against this order, which was dismissed by the Commissioner of Income Tax (Appeals). The appellant now appeals to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the deduction under Section 80P was rightly denied by the Income Tax Officer?
• 2. Whether the appellant is entitled to withdraw the appeal?

Judgment Outcome

Decided in favour of Assessee.

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