https://www.taxtmi.com/caselaws?id=450427 The ITAT Indore upheld CIT(A)'s order dismissing revenue's appeal across multiple grounds. For assessment validity u/s 153A, the Tribunal held that Raj Kumar Arora decision was inapplicable to pending assessment years and superseded by SC's Abhishar Buildwell ruling. Regarding s.11 exemption violation, the Tribunal found no breach of s.13 as rent charged was fair and higher than prevailing rates, with AO failing to address assessee's submissions. The addition u/s 69B for unexplained building investments was correctly deleted as AO's DVO reference u/s 142A was non-maintainable without rejecting books of account, following SC's Sargam Cinema precedent. Finally, unexplained cash addition u/s 69A was properly deleted as amounts were petty, reflected in cash-book, and not abnormal for educational institutions. en-us Thu, 29 Feb 2024 00:00:00 +0530 Tue, 05 Mar 2024 08:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450427 The ITAT Indore upheld CIT(A)'s order dismissing revenue's appeal across multiple grounds. For assessment validity u/s 153A, the Tribunal held that Raj Kumar Arora decision was inapplicable to pending assessment years and superseded by SC's Abhishar Buildwell ruling. Regarding s.11 exemption violation, the Tribunal found no breach of s.13 as rent charged was fair and higher than prevailing rates, with AO failing to address assessee's submissions. The addition u/s 69B for unexplained building investments was correctly deleted as AO's DVO reference u/s 142A was non-maintainable without rejecting books of account, following SC's Sargam Cinema precedent. Finally, unexplained cash addition u/s 69A was properly deleted as amounts were petty, reflected in cash-book, and not abnormal for educational institutions. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450427