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Section 10(23C)(iiiad) Denial Quashed as Amendment Held Prospective
Case Law Details
- Case Name
- Kumar Memorial Educational Trust Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Chennai
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Kumar Memorial Educational Trust Vs ITO (ITAT Chennai)
Section 10(23C)(iiiad) Exemption Cannot Be Denied by Clubbing Receipts of Multiple Institutions — Amendment Prospective from AY 2022-23
The Chennai Bench of the ITAT allowed the appeal of a charitable educational trust for AY 2021-22, holding that exemption under section 10(23C)(iiiad) cannot be denied by clubbing the annual receipts of all educational institutions run by the trust.
The assessee had claimed exemption on the ground that each individual educational institution run by it had annual receipts below ₹1 crore. However, CPC wh...
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