https://www.taxtmi.com/caselaws?id=445235 Karnataka HC allowed a cooperative society's petition challenging denial of Section 80P deductions due to 61-day delay in filing ITR. The court held that Section 80AC does not expressly bar deductions when delay is condoned under Section 119(2)(b). Relying on CBDT Circular 13/2023, the court found the delay was due to circumstances beyond the petitioner's control related to mandatory electoral processes under Karnataka Co-operative Societies Act. The court quashed the impugned order, condoned the delay, and allowed the deductions while extending the assessment timeline accordingly. en-us Thu, 21 Sep 2023 00:00:00 +0530 Fri, 03 Nov 2023 08:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445235 Karnataka HC allowed a cooperative society's petition challenging denial of Section 80P deductions due to 61-day delay in filing ITR. The court held that Section 80AC does not expressly bar deductions when delay is condoned under Section 119(2)(b). Relying on CBDT Circular 13/2023, the court found the delay was due to circumstances beyond the petitioner's control related to mandatory electoral processes under Karnataka Co-operative Societies Act. The court quashed the impugned order, condoned the delay, and allowed the deductions while extending the assessment timeline accordingly. Case-Laws Income Tax Thu, 21 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445235