https://www.taxtmi.com/caselaws?id=334049 The Tribunal allowed the appeal in favor of the assessee, setting aside the disallowance made by the AO and the CIT(A). The Tribunal concluded that the exemption claimed by the assessee could not be disallowed as the assessee had already withdrawn the exemption in the subsequent year, thereby avoiding double taxation. en-us Thu, 13 Oct 2016 00:00:00 +0530 Wed, 02 Nov 2016 18:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334049 The Tribunal allowed the appeal in favor of the assessee, setting aside the disallowance made by the AO and the CIT(A). The Tribunal concluded that the exemption claimed by the assessee could not be disallowed as the assessee had already withdrawn the exemption in the subsequent year, thereby avoiding double taxation. Case-Laws Income Tax Thu, 13 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334049