ITAT Upholds Section 10(23C)(iiiad) Exemption for Education Trust With Receipts Below ₹5 Crore

Gandharva Mahavidhyalaya Trust Vs ITO (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT) Ahmedabad has ruled in favor of Gandharva Mahavidhyalaya Trust, allowing the exemption claim of ₹57.57 lakh under Section 10(23C)(iiiad) of the Income Tax Act. The case involved the Centralized Processing Centre (CPC) Bangalore rejecting the trust’s exemption claim during the processing of its return for Assessment Year (AY) 2014-15. The trust, which has been providing music education since 1961, challenged this decision through rectification under Section 154, but the Commissioner of Income Tax (Ap...