Ita/15/2019 Of The Principal Commissioner Of Income Tax v. The Pazhavangadikkara Service Co-Operative Bank Ltd

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR & THE HONOURABLE MR. JUSTICE SYAM KUMAR V.M. FRIDAY, THE 2 DAY OF AUGUST 2024 / 11TH SRAVANA, 1946ITA NO. 11 OF 2019 AGAINST THE ORDER/JUDGMENT DATED 09.07.2018 IN ITA NO.200OF 2018 OF I.T.A.TRIBUNAL,COCHIN BENCH APPELLANT/RESPONDENT THE PRINCIPAL COMMISSIONER OF INCOME TAXKOTTAYAM.BY ADVS.SRI.P.K.R.MENON,SENIOR COUNSEL, GOI(TAXES)SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/APPELLANT/ASSESSEE M/S.THE PAZHAVANGDIKKARA SERVICE CO-OPERATIVE BANK LTDRANNI,PATHANAMTHITTA-689673.BY ADVS.SRI.ANIL D. NAIRSRI.R.SREEJITHSRI.ACHYUT K PADMARAJSHRI.GOKULRAJ L.SMT. ARYA ANIL THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON02.08.2024, ALONG WITH ITA.15/2019, THE COURT ON THE SAMEDAY DELIVERED THE FOLLOWING: IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR & THE HONOURABLE MR. JUSTICE SYAM KUMAR V.M. FRIDAY, THE 2 DAY OF AUGUST 2024 / 11TH SRAVANA, 1946 ITA NO. 15 OF 2019 AGAINST THE ORDER/JUDGMENT DATED IN ITA NO.201 OF 2018 OFI.T.A.TRIBUNAL,COCHIN BENCH APPELLANT/RESPONDENT/RESPONDENT THE PRINCIPAL COMMISSIONER OF INCOME TAXKOTTAYAM.BY ADVS.SRI.P.K.R.MENON,SENIOR COUNSEL, GOI(TAXES)SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/S: THE PAZHAVANGADIKKARA SERVICE CO-OPERATIVE BANK LTD. , PAZHAVANGADIKKARA P.O,RANNI,PATHANAMTHITTA-689673.BY ADVS.SRI.ANIL D. NAIRSRI.SREEJITH R.NAIRSRI.ACHYUT K PADMARAJSHRI.GOKULRAJ L.SMT. ARYA ANIL THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON02.08.2024, ALONG WITH ITA.11/2019, THE COURT ON THE SAMEDAY DELIVERED THE FOLLOWING: J U D G M E N T ============ Dr. A.K.Jayasankaran Nambiar, J. The issue involved in these I.T.Appeals pertains to theentitlement of the respondent-assessee to the benefit of thededuction under Section 80P of the Income Tax Act ('the Act'for short). 2. The learned Standing Counsel for the Income TaxDepartment, Sri.Jose Joseph, brings to our notice a decision ofthis Court dated 14.03.2023 in I.T.Appeal No.120 of 2019,where it is held that in view of the express provision of Section80A(5) of the Act, a claim for deduction under Section 80P ofthe Act can be made by an assessee only in a return filedwithin the time prescribed for filing such returns underSections 139(1), 139(4), 142(1) or Section 186 of the Act. Inas much as in the instant case, the assessee had not filed anyvalid return, as per the statutory provisions aforementionedwithin the time permitted by the statute, we find that theirclaim for deduction under Section 80P of the Act, should nothave been allowed as was done by the Appellate Tribunal in ITA Nos.11 and 15 of 2019 the orders impugned in these appeals. Accordingly, following our own earlier judgment inI.T.Appeal No.120 of 2019, we allow the I.T. Appeals by settingaside the impugned order of the Tribunal and answering thequestions of law raised therein in favour of the revenue andagainst the assessee. Sd/- DR. A.K.JAYASANKARAN NAMBIAR JUDGE Sd/- SYAM KUMAR V.M. JUDGE smm APPENDIX OF ITA 11/2019 PETITIONER ANNEXURESANNEXURE AASSESSMENT ORDER U/S 143(3)DTD.27-12-2016.ANNEXURE BCIT(A)'SORDERNO.ITAT.38/CIT(A)/KTM/2016-17 DATED 26-02-2018.ANNEXURE CITAT'S ORDER IN ITA.NO.200/C0CH/2018DATED 09/07/2018. APPENDIX OF ITA 15/2019