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

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 argued that its inco...