CPC Exceeded Jurisdiction in Disallowing 80P Deduction for AY 2019–20: ITAT Hyderabad

Federation of AP Cooperative Urban Banks & Credit Societies Ltd. Vs ITO (ITAT Hyderabad) 80P Cannot Be Disallowed in 143(1) — ITAT Deletes CPC Adjustment CPC, while processing the return u/s 143(1), disallowed Assessee’s Section 80P deduction of ₹36,70,431, solely on the ground that the return was filed after the due date u/s 139(1). CIT(A) upheld the adjustment. Before the ITAT, Assessee first sought condonation of 290-day delay, explaining that CIT(A)’s order was emailed to an old email ID of a retired CEO & therefore never reached the management. Tribunal accepted the explan...