https://www.taxtmi.com/caselaws?id=754911 ITAT Ahmedabad allowed the assessee's appeal against CIT's revision order u/s 263. The assessee, a government-funded organization for philanthropic purposes, incorrectly claimed exemption u/s 10(23C)(iiiae) instead of the correct provision 10(23C)(iiiac). During revision proceedings, the assessee argued eligibility for exemption u/s 10(23C)(iiiac) and section 11. ITAT held that CIT failed to consider alternate claims and supporting documents before setting aside the assessment order. The tribunal found no prejudice to revenue since the assessee was eligible for exemption under correct provisions despite the inadvertent error. en-us Thu, 27 Jun 2024 00:00:00 +0530 Wed, 03 Jul 2024 08:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754911 ITAT Ahmedabad allowed the assessee's appeal against CIT's revision order u/s 263. The assessee, a government-funded organization for philanthropic purposes, incorrectly claimed exemption u/s 10(23C)(iiiae) instead of the correct provision 10(23C)(iiiac). During revision proceedings, the assessee argued eligibility for exemption u/s 10(23C)(iiiac) and section 11. ITAT held that CIT failed to consider alternate claims and supporting documents before setting aside the assessment order. The tribunal found no prejudice to revenue since the assessee was eligible for exemption under correct provisions despite the inadvertent error. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754911