Disallowance of deduction u/s 80P - Addition in respect of ...

Income Tax

February 6, 2024

Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is available activity-wise and the rental income is not defined as per the section 80P, however assessee has shown such income separately and paid the taxes thereon. Hence, the question of disallowance u/s 80P does not arise, specifically when the assessee has never claimed deduction under section 80P of the Act in respect of the rental income and income sale of crackers.

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Disallowance of deduction u/s 80P - Addition in respect of ...

Income Tax

February 6, 2024

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