The ITAT upheld the exemption under section 10(23BBA) granted to...

The ITAT upheld the exemption under section 10(23BBA) granted to the assessee for AY 2019-20 by the AO, who had accepted the submissions regarding the exemption's applicability. Although the AO's earlier order for AY 2016-17 was ex parte and did not decide the exemption issue, the Tribunal found no material change in facts or law between the two years. While rejecting the applicability of res judicata in income tax proceedings, the ITAT emphasized the need for consistency in the revenue's approach. Consequently, the Tribunal affirmed the CIT(A)'s order allowing the exemption under section 10(23BBA) for AY 2016-17, aligning it with the AO's grant of exemption for AY 2019-20, and dismissed the revenue's appeal.

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