Pre-2018 Years Safe – ITAT Allows 80P Deduction Despite Delay in Filing Return

Dholka Nagaric Bachat Sahakari Mandali Ltd Vs ITO (ITAT Ahmedabad) Amendment to 80AC Prospective – ITAT Ahmedabad Grants Relief to Co-op Society Assessee, a co-operative credit society registered under the Gujarat Co-operative Societies Act, is engaged in providing credit facilities to members & accepting deposits. For AY 2017-18, it did not file its return within the due date u/s 139(1). Later, during assessment proceedings, AO issued notices u/s 142(1) & show-cause notices, to which Assessee responded that since its income after deduction u/s 80P was below taxable limit, it was und...