EDAMUTTAM SERIVCE COOP BANK LIMITED NOR305,EDAMUTTAM V. INCOME TAX OFFICER, GURUVAYUR

ITA 412/COCH/2025

AI Insights

The case involves Edamuttam Service Cooperative Bank Ltd., a cooperative society registered under the Kerala Co-operative Societies Act, 1969, which appealed against the order of the CIT(A) confirming the denial of a deduction claimed under section 80P of the Income Tax Act. The deduction was initially denied by the CPC due to the belated filing of the income tax return for the assessment year 2023-24. The assessee's explanation for the delay was rejected by the AO-CPC, leading to the appeal before the CIT(A) and subsequently the Tribunal. The Tribunal's decision focused on the procedural requirement of timely filing of returns as a prerequisite for claiming deductions under section 80P.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 713014 (ITAT-COCHIN)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Assessment Year: misc
• Laws Referred To: Kerala Co-operative Societies Act, 1969, Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: LEENA LAL
• Assessee Lawyers: M. RAMDAS
• Keywords: Condonation of delay
• Section: 119(2)(b)

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH BEFORE SHRI INTURI RAMA RAO, AM ITA No. 412/Coch/2025 Assessment Year: 2018-19 Edamuttam Service Cooperative .......... Appellant Bank Ltd. No. R 305, Edamuttam, Thrissur, Kerala [PAN: AAAAE 4543 R] vs. ITO, Ward-1 & TPS, .......... Respondent Guruvayur, Thrissur. Appellant by: Shri M. Ramdas, CA Respondent by: Smt. Leena Lal, Sr. DR Date of Hearing: 13.06.2025 Date of Pronouncement: .07.2025 O R D E R This appeal filed by the assessee is directed against the order of the ADDL/JCIT(A)-2, Noida [CIT(A)] dated 29.03.2025 for Assessment Year (AY) 2023-24. 2. Brief facts of the case are that assessee is a cooperative society registered under Kerala Co-operative Societies Act, 1969. It is classified as primary agricultural credit cooperative society. The return of income for the AY 2023-24 was filed on 16/12/2023 after Printed from counselvise.com 2 ITA No. 676/Coch/2024 Meat Products of India Ltd. claiming deduction of Rs. 40,89,970/- u/s. 80P(2)(a)(i) of the Act. The said return of income was processed by the CPC u/s. 143(1) vide intimation dated 24/04/2024 by denying claim made u/s. 80P on the ground that return of income was filed belatedly. The assessee has filed a condonation petition u/s. 119(2)(b) of the Act before the CBDT, which is pending for consideration. The ITO, Ward-1 & TPS, Thrissur (for short, 'AO-CPC') issued a notice on 15/03/2024 calling for explanation for condonation of delay. The explanation offered by the assessee was rejected by the AO-CPC and also disallowed the claim made u/s. 80P. 3. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order confirmed the action of the AO-CPC. 4. Being aggrieved, the assessee is in appeal before the Tribunal in the present appeal. 5. I find that filing the return of income within the due date prescribed u/s. 139(1) of the Act is, a condition precedent for claiming deduction u/s. 80P of the Act. Admittedly, the assessee had filed the return of income belatedly and, therefore, the CPC has rightly denied the exemption u/s. 80P of the Act, which was confirmed by the Ld. CIT(A). It is apparent from the record that assessee moved a petition for condonation of delay in filing the return of income before the Central Board of Direct Taxes (CBDT) u/s. 119(2)(b) of the Act, the same is pending for consideration. At Printed from counselvise.com 3 ITA No. 676/Coch/2024 Meat Products of India Ltd. this stage, I decline to interfere in the orders passed by the lower authorities, however, assessee is at liberty to pursue appropriate proceedings after the outcome of the petition pending before the CBDT. Thus, this appeal filed by the assessee is dismissed with the aforesaid liberty. 6. In the result, the appeal filed by the assessee is dismissed with the aforesaid liberty. Order pronounced in the open court on 31st July, 2025. Sd/- (INTURI RAMA RAO) ACCOUNTANT MEMBER Cochin, Dated: 31st July, 2025 vr/- Copy to: 1. The Appellant 2. The Respondent 3. The Pr. CIT concerned 4. The Sr. DR, ITAT, Cochin 5. Guard File By Order Assistant Registrar ITAT, Cochin Printed from counselvise.com "