Belated Return Filed in Response to Section 148 Cannot Revive Section 80P Deduction: Bangalore ITAT

Primary Agricultural Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore) Belated Return Filed in Response to Section 148 Cannot Revive Section 80P Deduction: Bangalore ITAT The Bangalore ITAT held that a Primary Agricultural Credit Co-operative Society is not entitled to deduction under section 80P where the return of income was not filed within the due date prescribed under section 139(1). The Tribunal ruled that the mandatory condition introduced by the amended section 80AC from AY 2018-19 applies equally to co-operative societies claiming deduction under section 80P. The assessee-socie...