TMI Blog2019 (3) TMI 1912X X X X Extracts X X X X X X X X Extracts X X X X ..... but the assessee was eligible to avail exemption u/s 10(23C)(iiid) of the Act as the gross receipts of the assessee is less than Rupees One Crore. The basic exemption limit has also not been considered in the case of the assessee and tax has been calculated on the gross receipts which is not justified. Therefore, we deem it appropriate to remit the issue back to the file of Assessing Officer w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee had claimed exemption u/s 11 by mistake as the assessee was not registered u/s 12A however, the assessee being engaged in the running of school was eligible for exemption u/s 10(23C)(iiid) of the Act as the gross receipt of the assessee was less than Rupees One Crore, which is apparent from pages 47 48 of the paper book where a copy of balance sheet and profit loss account is placed. Le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stake had claimed exemption u/s 11 of the Act to which it was not entitled as it was not registered u/s 12AA of the Act but the assessee was eligible to avail exemption u/s 10(23C)(iiid) of the Act as the gross receipts of the assessee is less than Rupees One Crore. We further find that the basic exemption limit has also not been considered in the case of the assessee and tax has been calculated o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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