https://www.taxtmi.com/caselaws?id=768217 ITAT Pune held that a cooperative society was entitled to deduction u/s.80P despite not filing returns u/s.139(1), as the mandatory filing requirement for claiming such deduction only applied from 01.04.2018 under Finance Act 2018. Since the assessment years 2015-16 and 2016-17 preceded this amendment, the society remained eligible for the deduction. The Tribunal distinguished between eligible income (interest from members, cooperative banks, and cooperative societies) and ineligible income (interest from scheduled banks and HDFC insurance scheme) for s.80P purposes. The matter was remanded to the AO for proper quantification of the allowable deduction amount. en-us Mon, 06 Jan 2025 00:00:00 +0530 Wed, 02 Apr 2025 10:06:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768217 ITAT Pune held that a cooperative society was entitled to deduction u/s.80P despite not filing returns u/s.139(1), as the mandatory filing requirement for claiming such deduction only applied from 01.04.2018 under Finance Act 2018. Since the assessment years 2015-16 and 2016-17 preceded this amendment, the society remained eligible for the deduction. The Tribunal distinguished between eligible income (interest from members, cooperative banks, and cooperative societies) and ineligible income (interest from scheduled banks and HDFC insurance scheme) for s.80P purposes. The matter was remanded to the AO for proper quantification of the allowable deduction amount. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768217