OMKARA CO.OPERATIVE HOUSING SOC. LTD, MUMBAI V. ITO WD 19(1) (1), MUMBAI

ITA 1442/MUM/2022

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 6157 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2019-2020
• Appeal Filed On: 29-05-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(1); 80P; 139(1)

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL “SMC” Bench, Mumbai Shri B.R. Baskaran (AM) I.T.A. No. 1442/Mum/2022 (A.Y. 2019-10) Omkara Cooperative Housing Society Ltd. 602, 13/15, Omkar CHSL Tukaram Javaji Road Grant Road, Mumbai 400 007. PAN : AABAG3524F Vs. ITO Ward 19(1)(1) Matru Mandir 2 nd Floor Opp. Bhatia Hospital Mumbai-400 007. (Appellant) (Respondent) Assessee by Shri Ashok Mehta Department by Shri Vivek Upadhyay Date of Hearing 17.08.2022 Date of Pronouncement 17.08.2022 O R D E R The assessee has filed this appeal challenging the order dated 30.3.3022 passed by National Faceless Appeal Centre, Delhi and it relates to A.Y. 2019- 20. The assessee is aggrieved by the decision of learned CIT(A) in confirming the disallowance of claim of Rs. 2,32,662/- made under section 80P of the I.T. Act while processing return filed by the assessee. 2. The Learned AR submitted that the assessee is a cooperative housing society and it filed its return of income for A.Y. 2019-20 on 19.9.2019, wherein it claimed deduction under section 80P(2)(d) of the Act to the tune of Rs.2,32,662/-. The Assessing Officer (CPC), while proceeding return under section 143(1) of the Act, took the due date of filing of the return of income for the year under consideration as 31.8.2019. Since the return of income was filed by the assessee on 19.9.2019, i.e. beyond the due date prescribed under section 139(1), deduction claimed by the assessee under section 80P of the Act was disallowed by CPC and the same was also confirmed by learned CIT(A). Omkara Cooperative Housing Society Ltd. 2 3. The Learned AR submitted that the accounts of the assessee is required to be audited by a Chartered Accountant as per section 81 of the Maharashtra Cooperative Society Act, 1960. He further submitted that the due date of filing of return of income under section 139(1) of the Act, in respect of the persons whose account are required to be audited under the Income Tax Act or under any other law was 30 th September 2019 for the year under consideration. He further submitted that the due date of filing return of income for such kind of assessees was extended by the CBDT to 31 st October, 2019, vide its letter dated 27.9.2019. Accordingly, the learned AR submitted that the due date for filing return of income for the assessee for the year under consideration was 31 st October 2019 and the assessee has filed return of income on 19.9.2019, i.e., very much before the due date. Accordingly he submitted that the Assessing Officer was not justified in disallowing deduction claimed under section 80P of the Act. 4. The Learned DR, on the contrary, supported the order passed by learned CIT(A). 5. Having heard the rival submissions, I find merit in the contentions of the assessee. I noticed that as per section 81 of the Maharashtra Cooperative Society Act, 1960, the account of the assessee is required to be audited. In respect of assessees whose accounts are required to be audited in any other law also, due date for filing the return of income under section 139(1) is 30th September 2019, which has been extended to 31 st October 2019 for AY 2019- 20. I noticed that the Assessing Officer has taken the due date for filing the return of income for the assessee for the year under consideration as 31.8.2019, which is not in accordance with the provisions of the Act. Since the assessee has filed return of income within the due date prescribed under section 139(1) of the Act, I am of the view that the tax authorities are not justified in denying the claim under section 80P of the Act. Accordingly, I set Omkara Cooperative Housing Society Ltd. 3 aside the order passed by learned CIT(A) and direct the Assessing Officer to allow deduction under section 80P of the Act as claimed by the assessee. 6. In the result, appeal filed by the assessee is allowed. Order pronounced in the open court on 17.08.2022. Sd/- (B.R. BASKARAN) ACCOUNTANT MEMBER Mumbai; Dated : 17/08/2022 Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. The CIT(A) 4. CIT 5. DR, ITAT, Mumbai 6. Guard File. BY ORDER, //True Copy// (Assistant Registrar) PS ITAT, Mumbai