ITAT Bangalore: Souhadra Co-operative Eligible for U/s 80P Deduction – Delay Condoned & Additions on Interest Provision Deleted

Hiriadka Souhadra Sahakari Vs ITO (ITAT Bangalore) Assessee Souhadra Sahakari challenged denial of deduction u/s 80P(2)(a)(i), denial of interest income deduction, & disallowance of interest provisions. There was delay of 341 days in filing appeal due to change of CA & email communications going to earlier consultant; ITAT condoned delay considering bona fide reasons. On merits, AO denied 80P benefit stating assessee registered under Souhadra Act & dealing with non-members. ITAT relying on Karnataka HC held Souhadra Sahakari qualifies as co-operative society u/s 2(19) & eligibl...