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2024 (1) TMI 1184 - ITAT AGRAAdjustment done by the CPC u/s 143 (1)(a)(v) - Deduction u/s 80P disallowed treating the return filed by the assessee as ‘belated return’ - As argued accounts of the assessee are required to be audited u/s 64 of the U.P. Cooperative Societies Act, 1965 and as such the ‘due date’ of the return fails within Explanation 2(1)(ii) to section 139 (1) and the return filed on 01.10.2018 by the assessee was not a ‘belated return’ - whether the adjustment done by the CPC u/s 143 (1)(a)(v) of the Act is correct or not? HELD THAT:- As noted that prior to amendment in deduction u/s 143(1)(a)(v) by Finance Act on 01.04.2021, the disallowance of deduction was limited to sections 10AA, 80IA, 80IAB, 80IB, 80IC, 80ID and 80IE. Thus, the deduction claimed u/s 80P was not mentioned there. Hence, we are of the opinion that ld. CIT (A) has erred in interpreting the amendment. We are of the opinion that assessee is correct in saying that the impugned adjustment by the CPC was not permissible u/s 143(1)(a)(v) of the Act at the extant time. Accordingly, we set aside the orders of the authorities below and decide the issue in favour of the assessee.
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