https://www.taxtmi.com/caselaws?id=450318 The appeal was allowed, condoning a 238-day delay due to valid reasons provided by the educational institution. The assessee's income was initially assessed at Rs. 94,73,763 without exemptions under sections 11/12. However, the institution was granted exemption under section 10(23C)(iiiad) as its gross receipts were under Rs. 1 crore. The belated audit report filing did not affect this exemption. The order by the Assessing Officer was deemed arbitrary, but the exemption rendered other grounds moot. The decision was pronounced on 29/02/2024. en-us Thu, 29 Feb 2024 00:00:00 +0530 Sat, 02 Mar 2024 07:24:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450318 The appeal was allowed, condoning a 238-day delay due to valid reasons provided by the educational institution. The assessee's income was initially assessed at Rs. 94,73,763 without exemptions under sections 11/12. However, the institution was granted exemption under section 10(23C)(iiiad) as its gross receipts were under Rs. 1 crore. The belated audit report filing did not affect this exemption. The order by the Assessing Officer was deemed arbitrary, but the exemption rendered other grounds moot. The decision was pronounced on 29/02/2024. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450318