ITAT Bangalore: Souhadra Co-operative Eligible for U/s 80P Deduction – Delay Condoned & Additions on Interest Provision Deleted

Hiriadka Souhadra Sahakari Vs ITO (ITAT Bangalore)

Assessee Souhadra Sahakari challenged denial of deduction u/s 80P(2)(a)(i), denial of interest income deduction, & disallowance of interest provisions. There was delay of 341 days in filing appeal due to change of CA & email communications going to earlier consultant; ITAT condoned delay considering bona fide reasons.

On merits, AO denied 80P benefit stating assessee registered under Souhadra Act & dealing with non-mem

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