U/s 80P Deduction Denied for Belated Return Post-2018 Amendment – ITAT Hyderabad Upholds Disallowance

Chillakuru Primary Agricultural Cooperative Society Limited Vs ITO (ITAT Hyderabad) The ITAT Hyderabad dismissed the appeal of a co-operative society and upheld the denial of deduction under Section 80P for AY 2018–19. The assessee had not filed its return within the due date under Section 139(1) and filed it only in response to a notice under Section 148, claiming NIL income after 80P deduction. The Tribunal affirmed that post the Finance Act, 2018 amendment to Section 80AC, deductions under Chapter VI-A (including Section 80P) are strictly allowed only if the return is filed within the due...