CPC not Authorized to Carry Out Adjustment for Disallowance of Deduction u/s 80P Income Tax Act: ITAT [Read Order]

By Kalyani B. Nair - On March 3, 2023 9:15 pm - 2 mins read

CPC - Disallowance of Deduction - Deduction - Income Tax Act: ITAT - Income Tax - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Centralized Processing Centre (CPC) not authorized to carry out adjustment for disallowance of deduction under Section 80P of the Income Tax Act, 1961. The assessee, Sai Prerana Co-op. Credit Society Ltd, filed return of income claiming deduction under Section 80P of the Income Tax and…

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