Deduction u/s 80P(2)(a)(i) was denied by invoking Section 80A(5) ...

Co-operative society's tax deduction claim rejected for failure to file valid return on time.

Case Laws Income Tax

August 27, 2024

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 Revenue Authorities' decision, stating that even after the substitution of Section 80AC by the Finance Act, 2018, for claiming deduction u/s 80P(2)(a)(i), the assessee must file a valid return within the stipulated time u/s 139, which was not done. Since the return was not filed in accordance with Section 139, the claim for deduction u/s 80P(2)(a)(i) was rightly held inadmissible by the Revenue Authorities. The decision was against the assessee.

View Source

← Previous Next →

Deduction u/s 80P(2)(a)(i) was denied by invoking Section 80A(5) ...

Co-operative society's tax deduction claim rejected for failure to file valid return on time.

Case Laws Income Tax

August 27, 2024

You may also like:

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...

The ITAT Pune dealt with a case involving denial of standard deduction and Chapter VIA deductions u/s 80C. The appellant, an individual earning income under the head...

Validity of manual revised returns filed - scheme of demerger approved - scheme of arrangement approved by NCLT required Petitioner and Hind Lamps to file revised...

The High Court rejected the condonation of delay in filing income tax returns, as the returns were handled by a Chartered Accountant who could not take timely steps due...

The case involved denial of exemption u/s 11 due to late filing of return. The department argued return must be filed u/s 139(1) to claim exemption u/s 11. An amendment...

Foreign Tax Credit u/s. 90 - Assessee did not file Form 67 at the time of filing of her return of income - Referring to established case law, the Tribunal affirmed that...

Investment of surplus fund by a coop society, no deduction u/s 80P – Supreme Court

Seeking withdrawal of best judgment assessment orders passed - return filed within (granted extended) time or not - If that were to be so, though the period of 30 days...

Deduction u/s 54(2) – The date of filing the return u/s.139 of the Act has wide scope - The return can be filed u/s.139(1) or u/s.139(4) of the Act - Both the returns...

Deduction u/s 80P(2)(a)(i) - The Tribunal rejected the Revenue's argument regarding the timing of the return filing, emphasizing that the amended provision did not apply...

Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

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...

Offence punishable u/s 276CC - failure to file the return of income (ITR) - in the instant case on hand, there is no evasion of tax. It is not the case that no return...

Condonation of delay in filing the returns - claim of deduction u/s 80P rejected - Since a time frame of three months from the date of receipt of the certified copy of...

Deduction u/s 10B denied - alternative claim of deduction u/s 10A was not entertained by the CIT(A) primarily for the reason that the assessee had not claimed the same...

Quick Updates: