Delayed ITR verification ≠ denial of 80P: ITAT allows deduction

Vividoddesh Prathamika Grameena Vs CPC (ITAT Bangalore) The ITAT Bangalore held that deduction under section 80P cannot be denied merely due to delayed verification of the return, when the return itself was filed within the due date under section 139(1). In this case, the assessee, a co-operative society, filed its return on 29.09.2022 within the prescribed due date but completed verification only on 30.12.2022, beyond the 30-day limit. The CPC treated the return as filed on the date of verification as per CBDT Notification No. 5/2022 and denied deduction under section 80P invoking section 80A...