https://www.taxtmi.com/caselaws?id=456557 ITAT Mumbai quashed PCIT's revisionary order u/s 263 regarding denial of exemption under section 10(23EC). CIT contended assessee registered under section 12A shouldn't receive 10(23EC) benefit. ITAT held that coordinate bench in assessee's own case for multiple assessment years established entitlement to 10(23EC) exemption despite 12A registration until April 1, 2024, based on section 11(7) amendment. Since assessment order wasn't erroneous, section 263 proceedings were unsustainable. Appeal allowed. en-us Wed, 27 Sep 2023 00:00:00 +0530 Thu, 01 Aug 2024 08:28:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456557 ITAT Mumbai quashed PCIT's revisionary order u/s 263 regarding denial of exemption under section 10(23EC). CIT contended assessee registered under section 12A shouldn't receive 10(23EC) benefit. ITAT held that coordinate bench in assessee's own case for multiple assessment years established entitlement to 10(23EC) exemption despite 12A registration until April 1, 2024, based on section 11(7) amendment. Since assessment order wasn't erroneous, section 263 proceedings were unsustainable. Appeal allowed. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456557