Case Law Details
Sarvoday Shikshan Prasarak Mandal Shirol Vs ITO (ITAT Pune)
The appeal involves the eligibility of an educational institution for exemption under section 10(23C)(iiiab) of the Income Tax Act. It is observed that the educational institution in question is substantially financed and meets the criteria for exemption under section 10(23C)(iiiab) of the Income Tax Act. The ITAT Pune allows the appeal of the assessee, confirming the eligibility of the educational institution for exemption under section 10(23C)(iiiab) of the Income Tax Act.
FULL TEXT OF THE ORDER OF ITAT PUNE
This is an appeal filed by the assessee against the order of Commissioner of Income Tax (Appeals) [NFAC], Delhi, dated 10.02.2023 for A.Y.2014-15, emanating from the order u/s.154 of the Act dated 30/03/2021 passed by the Income Tax Officer, Exemption, Kolhapur. The assessee has raised the following grounds of appeal:
“1. On the facts and circumstances prevailing in the case and as per provisions & scheme of the Income-tax Act, 1961 (‘The Act’) it be held that rectification order passed by the ld.AO and that upheld by ld. CIT(A) rejecting the Appellants Claim u/s.10 of the Act is incorrect and contrary to the provisions of section 154 of the Act. Accordingly, the appellants rectification application claiming exemption u/s. 10 of the Act be kindly allowed. Appellant be granted just and proper relief in this respect
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