https://www.taxtmi.com/caselaws?id=286660 The High Court ruled in favor of the assessee, allowing the deduction under section 80P of the Income Tax Act. It emphasized that belated filing alone cannot disentitle the assessee from claiming the deduction and clarified that denial of exemption solely based on belated filing is unjustified. The Court also affirmed that if belated returns are eligible, claims for exemption must be considered. Additionally, the Court held that a primary agricultural credit society is entitled to the deduction under section 80P(2) of the Act, based on the Registrar's certificate confirming its status. en-us Mon, 17 Oct 2016 00:00:00 +0530 Mon, 09 Mar 2020 07:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286660 The High Court ruled in favor of the assessee, allowing the deduction under section 80P of the Income Tax Act. It emphasized that belated filing alone cannot disentitle the assessee from claiming the deduction and clarified that denial of exemption solely based on belated filing is unjustified. The Court also affirmed that if belated returns are eligible, claims for exemption must be considered. Additionally, the Court held that a primary agricultural credit society is entitled to the deduction under section 80P(2) of the Act, based on the Registrar's certificate confirming its status. Case-Laws Income Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286660