Mere Belated Filing Cannot Block Section 80P Deduction: ITAT Nagpur

Somalwar Academy Education Societies Employees Co-op. Credit Society Mar Vs DCIT (CPC) (ITAT Nagpur) Belated Return Cannot Deny 80P Deduction – Tribunal Follows Kerala HC Ruling-No 143(1)(a)(v) Power Before 01.04.2021 – Adjustment Held Invalid; ITAT Nagpur allowed the appeal by holding that deduction claimed u/s 80P cannot be denied merely because return was belated. Assessee, a cooperative credit society, filed its return on 26.03.2019 claiming deduction of Rs. 7,46,340/- u/s 80P. CPC while processing return u/s 143(1) on 04.07.2019 disallowed the claim on the ground that return was not ...