https://www.taxtmi.com/caselaws?id=429692 The appeal, initially barred by 56 days, was filed within the extended time limit granted by the Central Government due to the COVID-19 pandemic. The delay was condoned, and the appeal was admitted for adjudication. The Assessing Officer had denied exemption under section 11 to the assessee society, alleging non-charitable activities and above-normal profits. However, the Ld. CIT(A) allowed the appeal, considering the society's deficit in total receipts and expenditures, capital expenditures for its objectives, and directed verification of depreciation deductions. The Tribunal upheld the decision, affirming the allowance of exemption under section 11 for the assessee society. en-us Tue, 13 Sep 2022 00:00:00 +0530 Thu, 03 Nov 2022 09:05:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429692 The appeal, initially barred by 56 days, was filed within the extended time limit granted by the Central Government due to the COVID-19 pandemic. The delay was condoned, and the appeal was admitted for adjudication. The Assessing Officer had denied exemption under section 11 to the assessee society, alleging non-charitable activities and above-normal profits. However, the Ld. CIT(A) allowed the appeal, considering the society's deficit in total receipts and expenditures, capital expenditures for its objectives, and directed verification of depreciation deductions. The Tribunal upheld the decision, affirming the allowance of exemption under section 11 for the assessee society. Case-Laws Income Tax Tue, 13 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429692