ITAT Quashes Section 143(1) Order for Failure to Issue Mandatory Prior Intimation

Advertisement Onkar Society for Engineering & Technological Research Vs ITO (ITAT Kolkata) The assessee appealed against the order of the Commissioner of Income-tax (Appeals) for Assessment Year 2020-21, challenging the denial of exemption under Section 11 of the Income-tax Act. The assessee contended that the capital expenditure of ₹1,85,37,546, revenue expenditure of ₹4,68,18,969, and the statutory exemption of ₹91,79,434 under Section 11(1)(a) were wrongly disallowed on the ground that the return of income and Form 10B were allegedly not filed within time. The assessee also arg...