https://www.taxtmi.com/caselaws?id=342670 The ITAT remanded the issues of disallowance of exemptions under Section 80P(2)(a)(iv) and Section 80P(2)(e) as well as declared losses back to the A.O for further verification due to procedural and evidentiary shortcomings. The penalty issue was considered infructuous pending reconsideration of primary issues, and the appeal against the rejection of the Section 154 application was dismissed for procedural lapses. The ITAT stressed the importance of thorough verification and procedural compliance in tax assessments. en-us Mon, 10 Apr 2017 00:00:00 +0530 Wed, 10 May 2017 07:22:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342670 The ITAT remanded the issues of disallowance of exemptions under Section 80P(2)(a)(iv) and Section 80P(2)(e) as well as declared losses back to the A.O for further verification due to procedural and evidentiary shortcomings. The penalty issue was considered infructuous pending reconsideration of primary issues, and the appeal against the rejection of the Section 154 application was dismissed for procedural lapses. The ITAT stressed the importance of thorough verification and procedural compliance in tax assessments. Case-Laws Income Tax Mon, 10 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342670