Deduction u/s 80P(2)(a)(i) was denied by invoking Section 80A(5)...

Deduction u/s 80P(2)(a)(i) was denied by invoking Section 80A(5) as the assessee failed to file a valid return of income as per Section 139. The Tribunal upheld the Revenue Authorities' decision, stating that even after the substitution of Section 80AC by the Finance Act, 2018, for claiming deduction u/s 80P(2)(a)(i), the assessee must file a valid return within the stipulated time u/s 139, which was not done. Since the return was not filed in accordance with Section 139, the claim for deduction u/s 80P(2)(a)(i) was rightly held inadmissible by the Revenue Authorities. The decision was against the assessee.