https://www.taxtmi.com/caselaws?id=433005 The Tribunal allowed the appeal, finding that the denial of the deduction under section 80P of the Income Tax Act was not justified due to the late filing of the return, as the relevant provisions did not permit such adjustment for the assessment year in question. The Tribunal emphasized that the delay in filing the return within the permissible time under section 139(4) should not result in the denial of the deduction claimed under section 80P. The case was remanded for fresh adjudication, underscoring the significance of considering statutory provisions and legal principles in tax assessments. en-us Mon, 31 Oct 2022 00:00:00 +0530 Thu, 19 Jan 2023 08:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433005 The Tribunal allowed the appeal, finding that the denial of the deduction under section 80P of the Income Tax Act was not justified due to the late filing of the return, as the relevant provisions did not permit such adjustment for the assessment year in question. The Tribunal emphasized that the delay in filing the return within the permissible time under section 139(4) should not result in the denial of the deduction claimed under section 80P. The case was remanded for fresh adjudication, underscoring the significance of considering statutory provisions and legal principles in tax assessments. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433005