Belated return barred section 80P deduction where delay was not condoned under the statutory powers available.

Deduction under section 80P was denied because the return of income was filed after the due date under section 139(1) and the delay was not condoned under section 119(2)(b) read with the relevant CBDT circular. Without condonation, the claim could not be entertained on a belated return, so the disallowance was sustained and the assessee's challenge failed.

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Issues: Whether deduction under section 80P was available when the return of income was filed beyond the due date and the application for condonation of delay had been rejected.

Analysis: The claim for deduction was disallowed because the return was not filed within the due date prescribed under section 139(1). The condonation application had also been rejected in exercise of powers under section 119(2)(b) and the relevant Board circular, leaving no basis to entertain the claim under section 80P.

Conclusion: The deduction under section 80P was rightly denied on account of belated filing, and the assessee's challenge failed.

Final Conclusion: The appeal was dismissed, and the disallowance of the deduction was sustained.

Ratio Decidendi: A deduction claim linked to a return filed beyond the statutory due date cannot be allowed where the delay has not been condoned under the powers available to the competent authority.

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