CPC Cannot Deny Section 10(23C)(iiiad) Exemption via Section 143(1) Adjustments ITAT Bangalore

Shivaganga Yoga Centre Vs ITO (Exemptions) (ITAT Bangalore) Clerical Drop-Down Lapse Can’t Kill Exemption: ITAT Allows 10(23C)(iiiad) Claim, Quashes CPC Adjustment The Bangalore SMC Bench of the ITAT allowed the appeal of a charitable trust and held that denial of exemption u/s 10(23C)(iiiad) merely for non-selection of a drop-down option / non-filing of Schedule IE-4 is unsustainable, as the issue is debatable and beyond the scope of adjustment u/s 143(1). The Assessee, running a Yoga Centre, filed its return within the due date claiming exemption of ₹8.82 lakh u/s 10(23C)(iiiad). CPC, wh...