ITAT allows section 10(23C)(iiiab) exemption despite Counsel’s Error

Punjab Agriculture University Vs DCIT (Exemptions) (ITAT Chandigarh) Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, in a significant ruling pronounced on December 18, 2024, has condoned substantial delays in appeals filed by the Punjab Agricultural University (PAU) and subsequently allowed its claim for income tax exemption under Section 10(23C)(iiiab) for Assessment Years 2018-19 and 2019-20. The Tribunal’s decision underscores the principle that bona fide errors by a tax counsel should not lead to the denial of legitimate benefits to the assessee, particularly when the assesse...