https://www.taxtmi.com/caselaws?id=798461 For AY 2016-17, section 80AC did not apply to deductions under section 80P, as its expanded scope applied only from AY 2018-19. Section 80A(5) required a deduction claim in a return of income but did not require filing within the section 139(1) due date. A return accepted under section 148 and used for assessment satisfied that requirement; the sixth proviso to section 139(1) did not apply to a co-operative society or section 80P deduction. Interest from temporary bank deposits of idle business funds of a co-operative credit society was attributable to its member-credit business and qualified under section 80P(2)(a)(i), where the funds were not liabilities payable to members. en-us Thu, 23 Jul 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798461 For AY 2016-17, section 80AC did not apply to deductions under section 80P, as its expanded scope applied only from AY 2018-19. Section 80A(5) required a deduction claim in a return of income but did not require filing within the section 139(1) due date. A return accepted under section 148 and used for assessment satisfied that requirement; the sixth proviso to section 139(1) did not apply to a co-operative society or section 80P deduction. Interest from temporary bank deposits of idle business funds of a co-operative credit society was attributable to its member-credit business and qualified under section 80P(2)(a)(i), where the funds were not liabilities payable to members. Case-Laws Income Tax Thu, 23 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798461