THE SURAMANGALAM CO-OP. HOUSE BUILING SOCIETY LTD.,SALEM V. ITO, WARD-1(1), SALEM

ITA 2997/CHNY/2024

AI Insights

The case involves The Suramangalam Cooperative House Building Society Limited, which appealed against the orders of the lower tax authorities for the assessment years 2018-19 and 2019-20. The primary contention was the denial of deduction under section 80P of the Income Tax Act due to the belated filing of tax returns. The assessee argued that the delay in filing was justifiable and had sought condonation from the competent authority as per the latest CBDT instructions. The Tribunal decided to set aside the lower authorities' decisions and remanded the matter back to the CIT(A) to await the outcome of the condonation petition.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 36963 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-04-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2019-2020
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: I.ROOPA
• Assessee Lawyers: .S.SRIDHAR; ERODE
• Keywords: Condonation of delay; Set aside; Competent authority
• Section: 250; 80P

Judgement Text

"Page - 1 - of 3 आयकर अपीलीय अधिकरण, ‘‘ए’ न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI श्री एबी टी. वर्की, न्यायिर्क सदस्य एवं श्री अयिताभ शुक्ला, लेखा सदस्य क े समक्ष BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA 2996 / Chny/2024, Assessment Years-2018-19 आयकर अपील सं./ITA 2997 / Chny/2024, Assessment Years-2019-20 The Suramangalam Cooperative House Building Society Limited No.13, Bharathiyar Street, Suramangalam, H.O, Salem. Tamil Nadu-636 005. [PAN: AABAT0705B] Income Tax Officer, Ward-1(1), Salem (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee by : Mr..S.Sridhar, Advocate (Erode) by virtual प्रत्यर्थी की ओर से /Revenue by : Dr.I.Roopa, Addl. CIT सुनवाई की तारीख/Date of Hearing : 27.02.2025 घोषणा की तारीख /Date of Pronouncement : 04.04.2025 आदेश / O R D E R PER AMITABH SHUKLA, A.M : The below mentioned appeals have been filed by the appellant assessee for AY-2018-19 and AY-2019-20 contesting the order of Ld. First Appellate Authority indicated Column-E, herein below:- S. No. Appeal Nos. AYs Appellant CIT(A) Order Details Respondent A B C D E F 1 ITA No. 2996 / Chny / 2024 2018-19 The Suramangalam Cooperative House Building Society Limited No.13, Bharathiyar Street, Suramangalam, H.O, Salem. [PAN: AABAT0705B] DIN & Order No. ITBA / NFAC / S / 250 / 2024-25 / 1070292490(1) dated 12.11.2024 Income Tax Officer, Ward-1(1), Salem 2 ITA No. 2997 / Chny / 2024 2019-20 DIN & Order No. ITBA / NFAC / S / 250 / 2024-25 / 1070337589(1) dated 13.11.2024 ITA No.2996 & 2997/Chny/2024 Page - 2 - of 3 2.0 The twin appeals are centering around a common issue and hence for the purposes of convenience, adjudicated together. For the purposes of this adjudication the facts and figures for AY-2018-19 have been taken. The decision for AY-2018-19 shall apply mutatis mutandis for appeal AY-2019-20. 3.0 In ITA No.2996 for AY-2018-19, appellant assessee has contested that the action of the Ld. AO in not allowing it deduction u/s 80P of the Act. The Ld. Counsel for the assessee submitted that, admittedly, it had filed belated return as result of which deduction claimed u/s 80P of the Act was disallowed and affirmed by the Ld. First Appellate Authority. The Ld. Counsel further submitted that in compliance to latest CBDT instruction empowering CCIT to condone the delay in specified cases, it has petitioned condonation of delay and the same was pending. It was urged that in the event of its application getting accepted, it will become entitled for 80P deduction. The Ld. DR relied upon the orders of lower authorities. 4.0 We have heard rival submissions in the light of material available on records. The only issue in the case is the denial of deduction u/s 80P on account of belated return filed by the assessee. In consideration of latest CBDT instruction, the assessee has petitioned condonation of delay before the competent authority. We therefore in the interest of ITA No.2996 & 2997/Chny/2024 Page - 3 - of 3 justice, set aside the order of lower authorities and direct the Ld.CIT(A) to await decision of the competent authority qua assessee’s petition for condonation of delay and decide accordingly. The grounds of appeal raised by the assessee are allowed for statistical purposes. 5.0 In the result the assessee’s appeal for ITA No.2996 is allowed for statistical purposes. 6.0 The decision taken herein above shall apply in assessee’s appeal vide ITA No.2997 for AY-2019-20, mutatis mutandis. Order pronounced on 4th , April-2025 at Chennai. Sd/- ( एबी टी. वकी) (ABY T VARKEY) न्याययक सदस्य / Judicial Member Sd/- (अयिताभ शुक्ला) (AMITABH SHUKLA) लेखा सदस्य /Accountant Member चेन्नई/Chennai, यदनांक/Dated: 4th , April-2025. KB/- आदेश की प्रयतयलयप अग्रेयषत/Copy to: 1. अपीलार्थी/Assessee: 2. प्रत्यर्थी/Revenue 3. आयकर आयुक्त/CIT - Salem 4. यवभागीय प्रयतयनयि/DR 5. गार्ड फाईल/GF "