https://www.taxtmi.com/caselaws?id=374102 The Tribunal held that the assessee did not qualify for exemption under section 10(26BBB) as it was not established by a relevant Act and did not exclusively benefit ex-servicemen. The Tribunal upheld the CIT's decision under section 263 due to the AO's inadequate inquiry and incorrect application of the law. Consequently, the assessee's appeal was rejected, and the assessment order was revised to exclude the claimed exemption, resulting in increased income for the assessee. en-us Wed, 23 Jan 2019 00:00:00 +0530 Fri, 25 Jan 2019 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374102 The Tribunal held that the assessee did not qualify for exemption under section 10(26BBB) as it was not established by a relevant Act and did not exclusively benefit ex-servicemen. The Tribunal upheld the CIT's decision under section 263 due to the AO's inadequate inquiry and incorrect application of the law. Consequently, the assessee's appeal was rejected, and the assessment order was revised to exclude the claimed exemption, resulting in increased income for the assessee. Case-Laws Income Tax Wed, 23 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374102