Late Filing of ROI Doesn’t Invalidate Deduction u/s 80P Claims

Kishorepur Paschimanchal SKUS Limited Vs ITO (ITAT Kolkata) Introduction: The ITAT Kolkata, in the case of Kishorepur Paschimanchal SKUS Limited Vs ITO, issued a significant ruling that deduction claims under section 80P of the Income Tax Act cannot be denied due to late filing of the return of income (ROI). The tribunal deemed the intimation passed by the Central Processing Centre (CPC) as invalid and thereby quashed it. Analysis: The ITAT’s ruling clarified the interpretation of Section 80P of the Income Tax Act and Section 143(1) in the context of late ROI filing. The tribunal referre...