Adjustment of disallowance of deduction u/s. 80P(2)(d) is not permissible u/s. 143(1)

Sangeet Plaza IFTEX Office Premises Coop Soc Ltd. Vs DCIT (ITAT Mumbai) ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of the Act. Accordingly, order of CIT(A) set aside and deduction u/s. 80P(2)(d) allowed. Facts- The assessee is a Co-operative society. CPC while processing the return u/s 143(1) of the Act disallowed the claim of the assessee in respect of interest earned from deposits with Co-operative bank claimed in terms of section 80P(2)(d).Subsequent rectification application of the assessee for of rectifica...