ITAT Allows Section 10(23C)(vi) Exemption From AY 2018-19 Due to Binding Earlier Tribunal Order

ST. Marks School Society Vs DCIT (CPC) (ITAT Agra) In this case involving an educational society running St. Marks College/School, the appeal was filed against the order of the Commissioner of Income-tax (Appeals)/NFAC for Assessment Year 2018-19. The assessee society, registered under the Societies Registration Act since 1949, had filed its return in Form ITR-7 on 15.10.2018 declaring nil income after claiming exemption under Section 10(23C)(vi) of the Income Tax Act. While processing the return under Section 143(1), the Centralized Processing Centre disallowed the exemption claim and assesse...