ITAT Holds Section 80AC Bar No Longer Applies, Restores Section 80P Claim

Andevanapally Primary Agricultural Co-op. Credit Society Limited Vs ITO (ITAT Chennai) Delay in Filing Return Condoned U/s 119(2)(b); ITAT Holds Section 80AC Bar Cannot Survive, Restores U/s 80P Deduction Claim The Chennai ITAT held that once the competent authority condones the delay in filing a return under section 119(2)(b), the disqualification contained in section 80AC for belated returns ceases to operate, and the claim for deduction under section 80P must be considered on merits. The assessee, a Primary Agricultural Co-operative Credit Society, filed its return for AY 2018-19 on 08.11.2...