https://www.taxtmi.com/caselaws?id=456406 The ITAT Mumbai held that a co-operative housing society was entitled to deduction under sections 80P(2)(c) and 80P(2)(d) for interest on fixed deposits and savings bank interest from co-operative banks. The revenue department contended the ITR was filed beyond the due date of 31st August 2018, making the 80P claim impermissible. However, the tribunal determined that as the society was governed by Maharashtra Co-operative Society Act 1960 and required audit thereunder, the due date was 30th September 2018. Since the return was filed on 18th September 2018, it was within the prescribed time limit. The tribunal allowed the assessee's appeal and deleted the addition. en-us Thu, 27 Jul 2023 00:00:00 +0530 Tue, 23 Jul 2024 20:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456406 The ITAT Mumbai held that a co-operative housing society was entitled to deduction under sections 80P(2)(c) and 80P(2)(d) for interest on fixed deposits and savings bank interest from co-operative banks. The revenue department contended the ITR was filed beyond the due date of 31st August 2018, making the 80P claim impermissible. However, the tribunal determined that as the society was governed by Maharashtra Co-operative Society Act 1960 and required audit thereunder, the due date was 30th September 2018. Since the return was filed on 18th September 2018, it was within the prescribed time limit. The tribunal allowed the assessee's appeal and deleted the addition. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456406