Sangli Urban Banks Employees, Sangli V. Income Tax Officer,Ward-2, Sangli, Sangli

ITA 564/PUN/2022

AI Insights

The case involves Sangli Urban Bank Employees appealing against the order of the National Faceless Assessment Centre (NFAC), which disallowed a deduction claimed under section 80P for the assessment year 2019-20. The disallowance was initially made by the Assistant Director of Income Tax (CPC Bangalore) under section 143(1) due to the assessee's failure to file the tax return within the extended deadline provided by the CBDT, citing floods as a reason. The Tribunal's decision was based on the mandatory requirement of section 80AC(II), which stipulates that any deduction under chapter-VI part-C must be claimed in a return filed by the due date under section 139(1).

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 137363 (ITAT-PUNE)
• Duration Of Justice: 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-01-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 10-01-2023
• Assessment Year: 2019-2020
• Appeal Filed On: 20-07-2022
• Other Referred Cases: EBR Enterprises vs. Union of India [2019] 107 taxmann.com 220 (Bom.)
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(1); 80P

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B” : PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA.No.564/PUN./2022 Assessment Year 2019-20 Sangli Urban Bank Employees, 404, Khan Bhag, Sangli – 416 416 Sangli District. Maharashtra PAN AACAS5684H vs. The Income Tax Officer, Income Tax Office, Near Birnale College, Sangli – 416 416. Maharashtra. (Appellant) (Respondent) For Assessee : Shri R.S. Abhyankar For Revenue : Shri M.G. Jasnani Date of Hearing : 11.01.2023 Date of Pronouncement : 13.01.2023 ORDER PER SATBEER SINGH GODARA, J.M. This assessee’s appeal for assessment year 2019- 2020, arises against the NFAC, Delhi’s DIN & Order No.ITBA/ NFAC/S/250/2022-23/1043138698(1), dated 24.05.2022, involving proceedings under section 143(1) of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties. Case file perused. 2. The assessee raises the following substantive grounds in the instant appeal : “The following grounds are taken without prejudice to each other – 2 ITA.No.564/PUN./202 Sangli Urban Bank Employees, Sangli. In the facts & circumstances of the case & in law, A. The learned CIT(A), erred in confirming disallowance of deduction claimed under section 80P made by ADIT (CPC Bangalore) under section 143(1) of the Act in spite of the fact that the assessee could not have filed return during the extended time period granted by CBDT due to floods. B. The assessee submits that the transactions with its members are not taxable on the principles of mutuality and therefore, the addition made of Rs. 23,49,760/-on account of surplus which has arisen out of activity of grating credit to its members was not warranted on the facts of the case. C. The appellant craves leave to add, alter or amend any or all the grounds of appeal.” 3. We find during the course of hearing that the instant appeal hardly requires us to delve deeper in the relevant factual matrix. This for the precise reason that the assessee herein has claimed sec.80P deduction in issue involving a sum of Rs.23,49,762/- without filing its return u/s.139(1) of the Act. Learned counsel could hardly dispute that sec.80AC(II) casts a mandatory obligation in such an instance of any deduction under chapter-VI part-C that return 3 ITA.No.564/PUN./202 Sangli Urban Bank Employees, Sangli. for the same has to be furnished on or before the due date under sec.139(1) of the Act. The assessee has undisputedly not satisfied this clinching condition. Faced with the situation, we quote EBR Enterprises vs. Union of India [2019] 107 taxmann.com 220 (Bom.) to reject its instant sole substantive ground. Ordered accordingly. 4. This assessee’s appeal is dismissed in above terms. Order pronounced in the open Court on 13.01.2023. Sd/- Sd/- [DR. DIPAK P. RIPOTE] [SATBEER SINGH GODARA] ACCOUNTANT MEMBER JUDICIAL MEMBER Pune, Dated 13 th January, 2023 VBP/- Copy to 1. The appellant 2. The respondent 3. The Ld. CIT(A) concerned. 4. The CIT concerned 5. D.R. ITAT, Pune “B” Bench, Pune 6. Guard File. //By Order// Assistant Registrar, ITAT, Pune Benches Pune.