HC Sets Aside Assessment Order Due to AO’s Error in Including Previous Year’s Balance

ST Josephs FCC Province Thalassery Vs ITO (Kerala High Court) Introduction: In a recent judgment, the Kerala High Court addressed an assessment order issued by the Income Tax Officer, Exemption Ward, Kannur. The case involves St. Joseph’s FCC Province Thalassery, the petitioner, who challenged the order dated 22.03.2023. The order by the Income Tax Officer determined the petitioner’s turnover for the Assessment Year 2016-17 to be Rs.1,02,85,571. The issue centered around whether the petitioner’s income qualified for an exemption under Section 10(23C)(iiiad) of the Income Tax ...