https://www.taxtmi.com/caselaws?id=759088 The Tribunal set aside the CIT(A)'s order regarding the disallowance of exemption under Section 10(23C)(iiiad) and remanded the case to the AO for fresh adjudication. The Tribunal directed the AO to separately evaluate the gross receipts of each educational institution for exemption eligibility and assess total income according to commercial principles, allowing legitimate expenditure deductions. The appeal was allowed for statistical purposes, and the appellant was granted an opportunity for a hearing to ensure all relevant facts are considered in the reassessment process. en-us Tue, 20 Aug 2024 00:00:00 +0530 Tue, 24 Sep 2024 09:05:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759088 The Tribunal set aside the CIT(A)'s order regarding the disallowance of exemption under Section 10(23C)(iiiad) and remanded the case to the AO for fresh adjudication. The Tribunal directed the AO to separately evaluate the gross receipts of each educational institution for exemption eligibility and assess total income according to commercial principles, allowing legitimate expenditure deductions. The appeal was allowed for statistical purposes, and the appellant was granted an opportunity for a hearing to ensure all relevant facts are considered in the reassessment process. Case-Laws Income Tax Tue, 20 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759088