https://www.taxtmi.com/caselaws?id=754800 The ITAT Bengalore directed the AO to accept the assessee's rectification petition u/s 154 regarding exemption u/s 10(23C)(iiiad). The assessee operated 12 units with gross receipts of Rs. 2,50,44,219. The CPC initially denied the exemption claiming Form 10BB was not filed and processed the return without exemption benefits. However, relying on the Karnataka HC judgment in Children's Education Society, the Tribunal held that exemption was available as annual receipts of each institution were below the prescribed limit. The rectification was allowed as the issue was covered by jurisdictional HC precedent. en-us Tue, 09 Jan 2024 00:00:00 +0530 Fri, 20 Feb 2026 17:21:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754800 The ITAT Bengalore directed the AO to accept the assessee's rectification petition u/s 154 regarding exemption u/s 10(23C)(iiiad). The assessee operated 12 units with gross receipts of Rs. 2,50,44,219. The CPC initially denied the exemption claiming Form 10BB was not filed and processed the return without exemption benefits. However, relying on the Karnataka HC judgment in Children's Education Society, the Tribunal held that exemption was available as annual receipts of each institution were below the prescribed limit. The rectification was allowed as the issue was covered by jurisdictional HC precedent. Case-Laws Income Tax Tue, 09 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754800