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June 2024

Disallowance provision in section 143(1)(a)(v), introduced by the Finance Act, 2021, w.e.f. 1st April, 2021, dealing with deductions claimed under Chapter VI-A applies with prospective effect.

By Jagdish T Punjabi, Chartered Accountant
Devendra Jain & Aditya Bhatt, Advocates
Reading Time 3 mins

14 Food Corporation of India Employees Co-operative Credit Society Ltd. vs. ADIT, CPC

TS-193-ITAT-2024(Mum)

A.Y.: 2019–20

Date of Order: 22nd March, 2024

Sections 80P, 143(1)(a)(v)

Disallowance provision in section 143(1)(a)(v), introduced by the Finance Act, 2021, w.e.f. 1st April, 2021, dealing with deductions claimed under Chapter VI-A applies with prospective effect.

FACTS

The CPC while processing the return of income filed by the assessee for assessment year 2019–20 disallowed the claim of deduction made under section 80P for want of filing the return of income by due date.

Aggrieved, the assessee preferred an appeal to the CIT(A) who dismissed the appeal.

Aggrieved, the assessee filed an appeal to the Tribunal where

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