₹112 Cr Case – Section 10 Exemption Can’t Be Re-examined Without Hearing: ITAT Delhi

Hamdard Laboratories India Vs DCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, adjudicated an appeal concerning the validity of directions issued by the Commissioner of Income Tax (Appeals) [CIT(A)] in relation to Assessment Year 2023–24. The dispute arose from an intimation issued under Section 143(1) of the Income Tax Act, 1961 by the Centralized Processing Centre (CPC), which determined the assessee’s taxable income at ₹112.15 crore despite the assessee having filed a return declaring nil income and claiming exemption under Section 10(23C)(iv). The assessee challenge...