https://www.taxtmi.com/caselaws?id=754759 Condonation of delay was granted where appellate filing followed a rectification application and the reasons for delay were accepted, admitting the appeal. On the substantive tax point, disallowance made during return processing was held impermissible because the limit on adjustments during processing does not extend to Chapter VI-A deductions where the return was filed within time. Cooperative banks were treated as co-operative societies for purpose of the statute, and interest received from investments with such societies falls within the deduction permitted by the provision; accordingly the specific disallowance in the intimation was reversed. en-us Thu, 27 Jun 2024 00:00:00 +0530 Sat, 29 Jun 2024 09:02:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754759 Condonation of delay was granted where appellate filing followed a rectification application and the reasons for delay were accepted, admitting the appeal. On the substantive tax point, disallowance made during return processing was held impermissible because the limit on adjustments during processing does not extend to Chapter VI-A deductions where the return was filed within time. Cooperative banks were treated as co-operative societies for purpose of the statute, and interest received from investments with such societies falls within the deduction permitted by the provision; accordingly the specific disallowance in the intimation was reversed. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754759