O 909 AYAN VADAMALAPURAM PACCS,TUTICORIN V. ITO, WARD-1, TUTICORIN

ITA 3228/CHNY/2024

AI Insights

The case involves the Ayan Vadamalapuram Primary Agriculture Credit Co-operative Society, which appealed against the order of the Commissioner of Income Tax (Appeals) Addl/JCIT (A)-1 Ludhiana. The appeal was related to the Assessment Year 2023-24, where the assessee's return of income was processed, and a total income was determined, disallowing the claim of deduction under section 80P of the Income Tax Act. The CIT(A) upheld the order of the Assessing Officer, leading to the current appeal. The main contention was the denial of the deduction claim due to a delay in the verification of the return by one day, and the appeal was also pending the outcome of a condonation petition for the delayed return.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 472400 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2023-2024
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V. ASWATHY
• Assessee Lawyers: N. ARJUN RAJ
• Keywords: Set aside; Competent authority
• Section: 119; 143(1); 80P

Judgement Text

" आयकर अपीलीय अिधकरण ‘सी’ Ɋायपीठ चेɄई मŐ। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ (SMC) BENCH, CHENNAI माननीय ŵी मनोज क ुमार अŤवाल ,लेखा सद˟ एवं माननीय ŵी मनु क ुमार िगįर, Ɋाियक सद˟ क े समƗ। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER AND HON’BLE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER आयकरअपील सं./ ITA No.3228/Chny/2024 (िनधाŊरणवषŊ / Assessment Year: 2023-2024) O 909 Ayan Vadamalapuram Primary Agriculture Credit Co- operative Society, 1/49, Ayan Vadamalapuram, Tuticorin 628 902. [PAN:AAAAO 2658R] Vs. The Income Tax Officer, Ward 1, Tuticorin. (अपीलाथȸ/Appellant) (Ĥ×यथȸ/Respondent) अपीलाथȸ कȧ ओर से/ Appellant by : Shri. N. Arjun Raj, Advocate Ĥ×यथȸ कȧ ओर से /Respondent by : Ms. V. Aswathy, JCIT. सुनवाई कȧ तारȣख/Date of Hearing : 26.02.2025 घोषणा कȧ तारȣख /Date of Pronouncement : 25.03.2025 आदेश / O R D E R PER MANU KUMAR GIRI (Judicial Member) This appeal filed by the assessee is directed against the order of the Ld. Commissioner of Income Tax (Appeals) Addl/JCIT (A)-1 Ludhiana [CIT(A)] dated 29.11.2024 for Assessment Year 2023-24. 2. Brief facts of the case are that the assessee filed its return of income for AY 2023-24 on 01.11.2023 declaring total income at Rs.Nil. The return was processed 2 ITA No.3228/Chny/2024 u/s 143(1) of the Act on 02.02.2024, determining total income at Rs.13,19,120/-. The CPC, Bengaluru has passed the intimation order in terms of Section 143(1) of the Act disallowing the claim of deduction u/s 80P of the Act to the tune of Rs.13,19,120/- and determined total tax payable at Rs.4,83,080/-. The ld.CIT(A) upheld the order of the AO. Now assessee is in further appeal before us. 3. Before us, the ld.counsel submitted that the ld.CIT(A) erred in denying the benefit of deduction claimed u/s 80P, without waiting for the outcome of the condonation petition filed u/s 119 of the Act before the competent authority/CBDT , New Delhi for the validating delayed return of income. He further, contended that the ld.CIT(A) erred in denying the claim of deduction u/s 80P on account of delay in verification of the return by one (1) day. 4. The ld. DR relied upon the order of the ld.CIT(A). 5. We have heard the both parties. We are of the considered view that the ld.CIT(A) should have waited for the outcome of the condonation petition filed before the competent authority/CBDT for the validating delayed return of income. Hence, we set aside and remand back the appeal to the file of the ld.CIT(A) to await for the outcome of the competent authority/CBDT on the condonation petition for validating delayed return filed. After receipt of the order of the competent authority/CBDT on the aforesaid petition, the ld.CIT(A) will take his judicial view according to law. 3 ITA No.3228/Chny/2024 6. In the result, appeal filed by the assessee is allowed for statistical purpose. Order pronounced in the open court on 25th day of March, 2025 at Chennai. Sd/- Sd/- (मनोज क ुमार अŤवाल) (मनु क ुमार िगįर) (MANOJ KUMAR AGGARWAL) लेखा सद˟ / ACCOUNTANT MEMBER (MANU KUMAR GIRI) Ɋाियक सद˟ / JUDICIAL MEMBER चेɄई Chennai: िदनांक Dated :25-03-2025 KV आदेश कȧ ĤǓतͧलͪप अĒेͪषत /Copy to : 1. अपीलाथŎ/Appellant 2. ŮȑथŎ/Respondent 3. आयकरआयुƅ/CIT, Chennai/Coimbatore/Madurai/Salem. 4. िवभागीयŮितिनिध/DR 5. गाडŊफाईल/GF "