High Court remits matter for fresh consideration in line with 2013 judgment. Legal questions remain open. Assessing authority to provide a hearing.

The High Court allowed the appeal, remitting the matter back to the assessing authority for fresh consideration in accordance with the 2013 judgment of the Co-Ordination Bench. The remaining legal questions were left open for the assessing authority to address after providing a hearing to both parties. The duty of the assessing authority was emphasized to pass appropriate orders in accordance with the law and the 2013 judgment.

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Issues:
1. Correctness of the order dated 26.6.2008 by the Income Tax Appellate Tribunal.
2. Entitlement to claim exemption under Section 10(23C)(via) of the Act.
3. Consideration of the judgment of the Co-Ordination Bench of the Court dated 1.4.2013.

Analysis:
1. The appellants challenged the order dated 26.6.2008 by the Income Tax Appellate Tribunal, which confirmed the orders of the Appellate Commissioner and the Assistant Commissioner of Income Tax, Central Circle, Bangalore. The main issue was the correctness of this order.

2. The key legal question was whether the assessee could claim exemption under Section 10(23C)(via) of the Act. The Assessing Officer had initially denied this claim based on proviso 5 to the section, despite the Tribunal's orders in other assessment years. The appellate authorities had to determine if the assessee was entitled to the exemption.

3. The judgment of the Co-Ordination Bench dated 1.4.2013 was crucial in this case. The appellants requested the disposal of the appeal in line with this judgment, setting aside all previous orders to allow the assessing authority to reconsider the matter. Both counsels agreed to this course of action, and the appeal was allowed based on the 2013 judgment.

4. Consequently, the High Court allowed the appeal in terms of the 2013 judgment, remitting the matter back to the assessing authority for fresh consideration. The remaining legal questions raised in the appeal were left open for the assessing authority to address after providing a hearing to both parties. The duty of the assessing authority was emphasized to pass appropriate orders in accordance with law and the 2013 judgment of the Co-Ordination Bench.

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