https://www.taxtmi.com/caselaws?id=766829 Exemption under section 10(23C)(iiiae) for a hospital or institution existing solely for philanthropic purposes and not for profit cannot be denied merely because the return of income was not filed originally and was later furnished in response to notice under section 148. The text notes that section 139(4C) requires returns from specified exempt entities in certain cases, but does not itself create an independent ground to refuse exemption where the substantive conditions of the exemption are otherwise satisfied. It also records that the income returned and accepted was below the basic taxable limit, and the exemption claim was therefore held to be allowable. en-us Thu, 27 Feb 2025 00:00:00 +0530 Wed, 05 Mar 2025 07:49:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766829 Exemption under section 10(23C)(iiiae) for a hospital or institution existing solely for philanthropic purposes and not for profit cannot be denied merely because the return of income was not filed originally and was later furnished in response to notice under section 148. The text notes that section 139(4C) requires returns from specified exempt entities in certain cases, but does not itself create an independent ground to refuse exemption where the substantive conditions of the exemption are otherwise satisfied. It also records that the income returned and accepted was below the basic taxable limit, and the exemption claim was therefore held to be allowable. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766829