Denial of Section 80P Deduction for AY 2019-20 Not a Prima Facie Adjustment

Khedbrahma Taluka Primary Teachers Co-op. Credit Society Ltd. Vs ADIT (ITAT Ahmedabad)

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench sided with Khedbrahma Taluka Primary Teachers Co-op. Credit Society Ltd., allowing the co-operative society to claim a deduction under Section 80P of the Income Tax Act, 1961, despite a slight delay in filing its income tax return for Assessment Year 2019-20.

The case emerged after the assessee, a credit co-operative society, filed its electronic return of income on October 31, 2019, at 11:45 PM.

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