https://www.taxtmi.com/caselaws?id=758332 ITAT Mumbai held that CPC's disallowance of deduction u/s 80P(2)(d) for interest received from co-operative banks was beyond the scope of adjustment u/s 143(1). The co-operative housing society had filed returns within the due date under section 139(1), making no prima facie adjustment permissible. Additionally, section 80AC does not restrict deduction u/s 80P(2)(d) for delayed filing, as it only applies to specific deductions under sections 80IA, 80IAB, 80IB, 80IC, 80ID, and 80IE before 01.04.2018. Appeal decided in favour of assessee. en-us Thu, 29 Aug 2024 00:00:00 +0530 Wed, 11 Sep 2024 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758332 ITAT Mumbai held that CPC's disallowance of deduction u/s 80P(2)(d) for interest received from co-operative banks was beyond the scope of adjustment u/s 143(1). The co-operative housing society had filed returns within the due date under section 139(1), making no prima facie adjustment permissible. Additionally, section 80AC does not restrict deduction u/s 80P(2)(d) for delayed filing, as it only applies to specific deductions under sections 80IA, 80IAB, 80IB, 80IC, 80ID, and 80IE before 01.04.2018. Appeal decided in favour of assessee. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758332