https://www.taxtmi.com/caselaws?id=306494 The ITAT Chandigarh remanded a case involving denial of exemption under section 11 of the Income Tax Act to the assessee back to the Assessing Officer for a fresh decision. The dispute arose from allegations of commercial activity and diversion of receipts, leading to the Assessing Officer disallowing the exemption claimed. The CIT(A) allowed the assessee's appeal, citing precedents that surplus generation alone does not warrant denial of exemption. The ITAT Chandigarh found deficiencies in the lower authorities' examination of the case, directing a reevaluation with proper consideration of facts and figures. en-us Mon, 21 Oct 2019 00:00:00 +0530 Fri, 03 Feb 2023 21:13:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306494 The ITAT Chandigarh remanded a case involving denial of exemption under section 11 of the Income Tax Act to the assessee back to the Assessing Officer for a fresh decision. The dispute arose from allegations of commercial activity and diversion of receipts, leading to the Assessing Officer disallowing the exemption claimed. The CIT(A) allowed the assessee's appeal, citing precedents that surplus generation alone does not warrant denial of exemption. The ITAT Chandigarh found deficiencies in the lower authorities' examination of the case, directing a reevaluation with proper consideration of facts and figures. Case-Laws Income Tax Mon, 21 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306494