Clerical Error in ITR Cannot Deny Sec 10(23C)(iiiad) Exemption to Educational Society: ITAT Delhi

M D Education Society Vs DCIT (ITAT Delhi) In M.D. Education Society vs DCIT, the ITAT Delhi allowed the assessee’s appeal holding that exemption u/s 10(23C)(iiiad) cannot be denied merely due to an inadvertent mistake in the return of income. The CPC had denied exemption and treated receipts of ₹49.95 lakh as taxable because the assessee mistakenly selected “No” against the column relating to educational institution eligibility in the ITR. The Tribunal observed that the society was actually running a CBSE-affiliated school and its receipts were below ₹1 crore, satisfying the conditi...