https://www.taxtmi.com/caselaws?id=770241 The ITAT Jaipur allowed the assessee's appeal regarding denial of exemption under section 10(23C)(iiiad). The AO had denied the exemption claiming the assessee failed to file returns within the due date under section 139(1). The tribunal held that notices under section 148 were issued on 24.03.2021 with 30-day filing requirement, which the assessee complied with by filing on 23.04.2021. Since the third proviso to section 148 was inserted only w.e.f. 01.04.2023, returns filed under section 148 during the relevant period were to be treated as valid returns under section 139. The authorities erred in treating returns as invalid and wrongly disallowed the exemption claims. en-us Mon, 05 May 2025 00:00:00 +0530 Thu, 08 May 2025 09:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770241 The ITAT Jaipur allowed the assessee's appeal regarding denial of exemption under section 10(23C)(iiiad). The AO had denied the exemption claiming the assessee failed to file returns within the due date under section 139(1). The tribunal held that notices under section 148 were issued on 24.03.2021 with 30-day filing requirement, which the assessee complied with by filing on 23.04.2021. Since the third proviso to section 148 was inserted only w.e.f. 01.04.2023, returns filed under section 148 during the relevant period were to be treated as valid returns under section 139. The authorities erred in treating returns as invalid and wrongly disallowed the exemption claims. Case-Laws Income Tax Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770241