https://www.taxtmi.com/caselaws?id=426054 The ITAT allowed the appeals in favor of the assessee, emphasizing the separate consideration of annual gross receipts for each educational institution under section 10(23C)(iiiad) of the Income-tax Act, 1961. The decision underscored the debatable nature of the issue and the inappropriateness of disallowing the exemption during the processing of the return under section 143(1). By referencing relevant legal precedents, the ITAT clarified the interpretation of statutory provisions and upheld the assessee's claim for exemption, highlighting the importance of adherence to the legal framework in assessments. en-us Mon, 01 Aug 2022 00:00:00 +0530 Sat, 06 Aug 2022 09:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426054 The ITAT allowed the appeals in favor of the assessee, emphasizing the separate consideration of annual gross receipts for each educational institution under section 10(23C)(iiiad) of the Income-tax Act, 1961. The decision underscored the debatable nature of the issue and the inappropriateness of disallowing the exemption during the processing of the return under section 143(1). By referencing relevant legal precedents, the ITAT clarified the interpretation of statutory provisions and upheld the assessee's claim for exemption, highlighting the importance of adherence to the legal framework in assessments. Case-Laws Income Tax Mon, 01 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426054