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Procedural Delay Not Fatal: ITAT Upholds 80P Deduction on Credit Co-op Interest
Case Law Details
- Case Name
- Sharada Credit Cooperative Society Limited Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-2019
- Courts
- All ITAT, ITAT Bangalore
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Sharada Credit Cooperative Society Limited Vs ITO (ITAT Bangalore)
Delay Condoned, 80P Restored: ITAT Allows 80P(2)(a)(i) Deduction on Interest Income of Credit Co-op Society
Bangalore ITAT has condoned a delay of 247 days and allowed deduction u/s 80P(2)(a)(i) to Shree Sharada Credit Cooperative Society Ltd. for AYs 2018-19 & 2020-21, reversing the orders of AO & NFAC-CIT(A).
The delay occurred as the CIT(A) orders were served on an old email ID after change of authorised CA; the Society came to know of the orders only in May 2025 while finalising accounts. Holding this to be a “s...
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