Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss 139(1), 139(4), or 139(5) for Section 80P deduction eligibility. Section 80A(5) only requires the claim to be made in a valid return of income filed by the assessee. A return filed in response to Section 142(1) notice is a valid return. The Kerala High Court in Chirakkal Service Co-operative Bank Ltd. case held that a return filed u/s 142(1) is valid for Section 80P deduction claim u/s 80A(5). Denying Section 80P deduction to the assessee who filed the return in response to Section 142(1) notice is incorrect.
Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss 139(1), 139(4), or 139(5) for Section 80P deduction eligibility. Section 80A(5) only requires the claim to be made in a valid return of income filed by the assessee. A return filed in response to Section 142(1) notice is a valid return. The Kerala High Court in Chirakkal Service Co-operative Bank Ltd. case held that a return filed u/s 142(1) is valid for Section 80P deduction claim u/s 80A(5). Denying Section 80P deduction to the assessee who filed the return in response to Section 142(1) notice is incorrect.
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