https://www.taxtmi.com/caselaws?id=754119 The ITAT Delhi remitted the case back to the AO for fresh adjudication after the assessee's exemption under Section 11 was denied due to violation of Section 13(1)(c)(ii). The denial was based on an interest-free advance made to a specified person for land purchase. The assessee claimed the advance was for a plot purchase with pending FAR approval from DDA, but the AO found it was agricultural land without construction permission. The Tribunal admitted new documents not previously available and remitted the matter for reconsideration in light of this fresh evidence. Appeal partly allowed for statistical purposes. en-us Mon, 29 Apr 2024 00:00:00 +0530 Tue, 18 Jun 2024 08:29:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754119 The ITAT Delhi remitted the case back to the AO for fresh adjudication after the assessee's exemption under Section 11 was denied due to violation of Section 13(1)(c)(ii). The denial was based on an interest-free advance made to a specified person for land purchase. The assessee claimed the advance was for a plot purchase with pending FAR approval from DDA, but the AO found it was agricultural land without construction permission. The Tribunal admitted new documents not previously available and remitted the matter for reconsideration in light of this fresh evidence. Appeal partly allowed for statistical purposes. Case-Laws Income Tax Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754119