Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (11) TMI 661 - AT - Income TaxDisallowance of exemption u/s 11 - assessee rectified the intimation u/s 143(1) and informed that the assessee is only eligible exemption as an educational trust - Whether assessee is eligible for exemption u/s 10(23C)(iiiad)? - HELD THAT:- The claim of the assessee is very specific purpose. The criterion for claiming exemption u/s 10(23C) (iiiad) are that running the educational institution and the turnover should be below Rs. 1 crore. The assessee accumulated both the conditions for getting exemption u/s 10(23C) (iiiad). We set aside the order of the CIT(A). The addition made by the ld. AO amount u/s 143(1) is liable to be quashed. Accordingly, the appeal of the assessee is allowed.
|