SHRI SIDDESHWAR CO-OPERATIVE CREDIT SOCIETY LIMITED, MUCHANDI V. Income-Tax Officer, Ward-1, Belgaum

ITA 539/BANG/2024

• Counselvise Citation: [2024] 101 COUNSELVISE.COM (IT) 4984 (ITAT-BANGALORE)
• Duration Of Justice: 4 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-08-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 13-08-2024
• Assessment Year: 2020-2021
• Appeal Filed On: 21-03-2024
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: PRAVEEN P. GHALI
• Keywords: Rectification of order; Co-operative Credit Society
• Section: 154; 143(1); 80P; 250

Judgement Text

ITA No.539/Bang/2024 Shri Siddeshwar Co-operative Credit Society Limited, Muchandi IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” “B’’ BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K., VICE PRESIDENT ITA No.539/Bang/2024 Assessment Year: 2020-21 Shri Siddeshwar Co-operative Credit Society Limited 4, Shaji Galli Muchandi Karnataka 590 016 PAN NO.AADAS2482A Vs. ITO Ward-1 Belgaum ASSESSEE RESPONDENT Assessee by : Shri Praveen P. Ghali, A.R. Revenue by : Shri Ganesh R. Ghale, Standing Counsel for Revenue. Date of Hearing : 14.08.2024 Date of Pronouncement : 14.08.2024 O R D E R PER GEORGE GEORGE K., VICE PRESIDENT: This appeal at the instance of assessee is directed against Addl./JCIT(A)-1, Pune dated 15.2.2024 for the assessment year 2020-21 passed u/s 250 of the Income Tax Act, 1961 (in short “The Act”). 2. Brief facts of the case are that assessee is a Co-operative Credit Society. For the assessment year 2020-21, return of income was filed on 18.12.2020 declaring an income of Rs.3,24,720/- after claiming deduction u/s 80P of the Act. The intimation u/s 143(1) of the Act was passed by the CPC on 25.11.2021 raising a demand of Rs.3,27,780/-. The CPC had partly denied the claim of deduction u/s 80P of the Act. ITA No.539/Bang/2024 Shri Siddeshwar Co-operative Credit Society Limited, Muchandi Page 2 of 3 3. Aggrieved, by the said intimation, passed u/s 143(1) of the Act, assessee filed an appeal before the first appellate authority. There was a delay of 504 days in filing the appeal before the first appellate authority. The assessee’s appeal was dismissed by the first appellate authority in limine without condoning the aforesaid delay. 4. Aggrieved by the impugned order of the ld. CIT(A), assessee has filed the present appeal before the Tribunal. The ld. A.R. submitted that assessee had made a mistake in filing the appeal before the first appellate authorities as against the intimation passed u/s 143(1) of the Act. It was submitted by the ld. A.R. that assessee had preferred rectification u/s 154 of the Act against the intimation passed u/s 143(1) of the Act and the last rectification order is dated 3.3.2023. It was submitted that the assessee ought to have filed an appeal as against the order passed u/s 154 of the Act dated 3.3.2023 and requested that this appeal may be dismissed as withdrawn with liberty to file a fresh appeal before the ld. CIT(A) as against the rectification order passed u/s 154 of the Act. On merits, the ld. A.R. submitted that the assessee had received the interest income from the Co-operative society and even if the claim of deduction has been made in the return of income made u/s 80P(2(a)(i) of the Act, the revenue was duty bound to allow the deduction u/s 80P(2)(d) of the Act. 5. The ld. Standing counsel supported the order of the ld. CIT(A). 6. I heard the rival submissions and perused the materials available on record. The ld. A.R. had submitted that assessee had made a mistake in filing the appeal before the first appellate authority as against the intimation issued u/s 143(1) of the Act instead of the rectification order dated 3.3.2023. Accordingly, as per the prayer of the ld. A.R., this appeal is dismissed as withdrawn with the liberty to ITA No.539/Bang/2024 Shri Siddeshwar Co-operative Credit Society Limited, Muchandi Page 3 of 3 the assessee to file fresh appeal before the first appellate authority as against the order passed u/s 154 of the Act. It is ordered accordingly. 7. In the result, appeal filed by the assessee is dismissed. Order pronounced in the open court on 14 th Aug, 2024 Sd/- (George George K.) Vice President Bangalore, Dated 14 th Aug, 2024. VG/SPS Copy to: 1. The Applicant 2. The Respondent 3. The CIT 4. The DR, ITAT, Bangalore. 5 Guard file By order Asst. Registrar, ITAT, Bangalore.