Wrong ITR Section: 10(23C)(iiiad) Exemption Cannot Be Denied Mechanically; Remanded to AO – ITAT Lucknow

Balaji Educational Welfare Society Vs Assessing Officer (ITAT Lucknow) Wrong Section Selected in ITR – Exemption u/s 10(23C)(iiiad) Cannot Be Denied Mechanically – Matter Remanded to AO – ITAT Lucknow In this case, the assessee-society running educational institutions filed its return claiming exemption but mistakenly selected u/s 10(23C)(iv) instead of the correct provision u/s 10(23C)(iiiad). During processing u/s 143(1), CPC disallowed the exemption and made addition of ₹94.27 lakh. Rectification u/s 154 and appeal before CIT(A) were rejected on the ground that incorrect...