ITAT allows Section 80P(2)(i) deduction on income from credit facilities for non-agricultural purposes to members

Enayetpur S K U S Ltd Vs ACIT (ITAT Kolkata) Enayetpur S K U S Ltd appealed against the decision of ld. CIT(A), NFAC, regarding AY 2015-16, seeking condonation of a 105-day delay. The case revolves around denial of deduction under Section 80P(2)(i) for claimed credit facilities. The appellant cited oversight due to irregular mail checks, discovering the appellate order online, and subsequently filing the appeal with a delay. The ld. Counsel argued for condonation based on bona fide reasons, while the ld. D/R contested, citing awareness of the faceless system. The ITAT considered the Supreme Co...