Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2022 Year 2022 This

Deduction u/s. 80P(2)(a)(i) - Since the return of income has ...

Case Laws     Income Tax

August 25, 2022

Deduction u/s. 80P(2)(a)(i) - Since the return of income has been filed after completion of the assessment, the return should have been held as invalid and hence the claim made by the assessee for deduction u/s. 80P(2)(a)(i) cannot be held as an admissible deduction under the Act. - AT

View Source

 


 

You may also like:

  1. Deduction u/s. 80(P)(2)(a)(i) - Due date for filing the return of income u/s 139(1) - The assessee cannot be denied deduction under Section 80P(2)(a)(i) of the Act if...

  2. Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

  3. Deduction u/s 80P(2)(a) - return of income filed belatedly u/s 139(4) - The assessee has claimed deduction U/s 80P(2)(a)(i) on profits earned during the year and filed...

  4. Deduction u/s 80P(2)(a)(i) was denied by invoking Section 80A(5) as the assessee failed to file a valid return of income as per Section 139. The Tribunal upheld the...

  5. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

  6. Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

  7. Deduction u/s 80P - there was a few-month delay in filing the ITR by the assessee and ITR was filed within due date permissible u/s 139(4) of the Act, in which the claim...

  8. Deduction u/s 80P(2)(a)(i) - The decision underscores the principle that interest income earned by co-operative societies, if invested in compliance with statutory...

  9. Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

  10. The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

  11. Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

  12. Validity of assessment u/s 147 - it is not a return u/s 119(2)(b) albeit it is a return filed in response to notice u/s 148 which has been accepted by the AO. Thus, when...

  13. Deduction us/ 80P(2) - income received on investment made with co-operative banks - The Tribunal interpreted section 80P(2)(d) and (e) to determine the eligibility of...

  14. Reopening of assessment u/s 147 - When the A.O. admits in the notice under section 142(1) Dated 20.10.2014 that assessee filed return of income under section 148 of the...

  15. Interest income earned by a co-operative society formed and managed by the Government, in its regular course of operations, forms part of revenue attributable to...

 

Quick Updates:Latest Updates