Condonation of delay for cooperative societies
This query is : Resolved
26 March 2024
Return for the A.Y.2018-2019 of Cooperative Credit Society has been lately submitted. Whether it is possible to claim condonation under circular no.13/2023, dt:26/07/2023 of CBDT after submission of return if assessment has been completed without allowing deduction u/s 80P(2)(a)(i) of the IT Act.
26 March 2024
These are the exact wordings given by the IT department in another case -
"In your case, if the Hon’ble CCIT, Hyderabad deems it fit to condone the delay in filing the
return in your case, then you will stand eligible for claiming deduction u/s 80P of the Act. If, no such
delay is condoned then this office will be constrained to pass the assessment order disallowing your
claim of 80P as mentioned in the Show Cause Notice issued.
In case you are unable to provide any favorable order from the Hon’ble CCIT, Hyderabad
before this office passes the assessment order based on available facts, you have the option to file
revision petition u/s 264 before the Ld. PCIT."
Hence, make an applcation under circular 13/2023 and if there is a favorable order, then make an applcation u/s 264
"In your case, if the Hon’ble CCIT, Hyderabad deems it fit to condone the delay in filing the
return in your case, then you will stand eligible for claiming deduction u/s 80P of the Act. If, no such
delay is condoned then this office will be constrained to pass the assessment order disallowing your
claim of 80P as mentioned in the Show Cause Notice issued.
In case you are unable to provide any favorable order from the Hon’ble CCIT, Hyderabad
before this office passes the assessment order based on available facts, you have the option to file
revision petition u/s 264 before the Ld. PCIT."
Hence, make an applcation under circular 13/2023 and if there is a favorable order, then make an applcation u/s 264
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
