https://www.taxtmi.com/caselaws?id=180039 The Tribunal held that the Assessing Officer's decision to grant exemption under section 10(10C) of the Act was reasonable and in line with the law. The initiation of proceedings under section 263 was deemed unjustified as the Assessing Officer had appropriately considered relevant factors before allowing the exemption. Consequently, the Tribunal set aside the orders of the Learned CIT, ruling in favor of the assessee based on consistency with a prior decision. en-us Wed, 05 Jan 2011 00:00:00 +0530 Tue, 15 Mar 2016 16:22:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180039 The Tribunal held that the Assessing Officer's decision to grant exemption under section 10(10C) of the Act was reasonable and in line with the law. The initiation of proceedings under section 263 was deemed unjustified as the Assessing Officer had appropriately considered relevant factors before allowing the exemption. Consequently, the Tribunal set aside the orders of the Learned CIT, ruling in favor of the assessee based on consistency with a prior decision. Case-Laws Income Tax Wed, 05 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180039