Sec 80P Deduction cannot be denied Under Section 143(1)(a) for AY 2015-16

New Ideal Vs ITO (ITAT Mumbai) A recent ruling by the Income Tax Appellate Tribunal (ITAT) Mumbai in the case of New Ideal (Co-operative Housing Society) versus the Income Tax Officer (ITO) has shed light on the permissible adjustments under Section 143(1)(a) of the Income Tax Act, 1961, and the eligibility of cooperative societies for deductions under Section 80P. The appeal, filed by the assessee against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2015-16, challenged the disallowance of deductions claimed under Section 80P(2)(d) and Section 80P(2)(c)(ii...