CPC Adjustment Set Aside Because Delay Condonation Was Not Decided

R 249 Kulithalai Co-op Pard Bank Limited Vs ITO (ITAT Chennai) 80P Denial Can’t Pre-empt Condonation – CPC & CIT(A) Jumped the Gun; Matter Remanded Chennai ITAT set aside the order denying deduction u/s 80P to R 249 Kulithalai Co-op Primary Bank Ltd. for AY 2022-23, holding that the authorities acted prematurely while a condonation petition u/s 119(2)(b) was pending before the PCIT. The Assessee, a co-operative credit society, had filed its return belatedly u/s 139(4) and claimed deduction u/s 80P, which CPC denied by invoking section 80AC for failure to file within due date u/s 13...