https://www.taxtmi.com/caselaws?id=768559 ITAT Kolkata allowed the appeal regarding reopening of assessment under section 147 and denial of exemption under section 11(1). The tribunal held that provisional approval was sufficient for claiming charitable exemption under section 11, citing precedent from Genius Education Society case. Cash deposits were from legitimate fee receipts. The tribunal directed the AO to recompute income considering provisional approval for exemption purposes, noting that section 12A(ba) provisions were not applicable to the assessment year in question as they were effective from AY 2018-19. en-us Mon, 10 Mar 2025 00:00:00 +0530 Wed, 09 Apr 2025 07:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768559 ITAT Kolkata allowed the appeal regarding reopening of assessment under section 147 and denial of exemption under section 11(1). The tribunal held that provisional approval was sufficient for claiming charitable exemption under section 11, citing precedent from Genius Education Society case. Cash deposits were from legitimate fee receipts. The tribunal directed the AO to recompute income considering provisional approval for exemption purposes, noting that section 12A(ba) provisions were not applicable to the assessment year in question as they were effective from AY 2018-19. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768559