Delayed Filing Blocks 80P Deduction: ITAT Upholds CPC Adjustment

Chikkamudnoor Milk Producers Co-operative Society Ltd. Vs ITO (ITAT Bangalore) Belated ROI = No 80P at CPC Stage: ITAT Bangalore Upholds 143(1)(a)(ii) Disallowance, Follows Madras HC The Bangalore SMC Bench of the ITAT dismissed the appeals of two milk producers’ co-operative societies and upheld denial of deduction u/s 80P at the CPC processing stage u/s 143(1)(a)(ii) on the ground that the returns were filed beyond the due date u/s 139(1). The Assessees had filed belated returns for AY 2019-20 claiming deduction u/s 80P. CPC disallowed the claim as an “incorrect claim” during processin...