80P Deduction Denied for Late Return, Case Sent Back for Condonation

Swahalwa Co-operative Agriculture Service Society Ltd. Vs ITO (ITAT Chandigarh) The Chandigarh Bench of the Income Tax Appellate Tribunal considered an appeal for Assessment Year 2018–19 arising from denial of deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. The assessee, a primary agricultural co-operative society, filed its return of income on 06 December 2018 claiming a deduction of ₹2,41,781. The due date for filing the return under section 139(1) was 31 August 2018. While processing the return under section 143(1), the Centralized Processing Centre denied the deductio...