No Bar on Claiming S.80P Deduction via ITR Filed u/s 142(1): ITAT Sets Aside Denial over e-Verification Delay

The Income Tax Appellate Tribunal (ITAT) has ruled that there is no bar on claiming a deduction under Section 80P of the Income Tax Act, 1961, through an Income Tax Return (ITR) filed under Section 142(1). Furthermore, the ITAT set aside the denial of this deduction merely due to a delay in e-verification of the ITR. Section 142(1) allows the Assessing Officer (AO) to issue a notice requiring an assessee to file an ITR. Section 80P provides deductions for cooperative societies. The ruling clarifies that a valid return filed in response to a Section 142(1) notice is sufficient for claiming deductions. The ITAT emphasized that a delay in e-verification, often a technical or procedural issue, should not be a sole ground for denying a legitimate deduction, especially if the return itself was filed within the extended period. This decision provides significant relief to cooperative societies and other assessees, ensuring that meritorious claims are not rejected due to technicalities or minor procedural delays.