https://www.taxtmi.com/caselaws?id=462138 ITAT Mumbai dismissed Revenue's appeal regarding exemption claims under sections 10(23FB) and 10(35). The tribunal upheld CIT(A)'s decision allowing assessee's exemption for income from Venture Capital Undertakings under section 10(23FB), following binding precedent from previous assessment year. Additionally, tribunal confirmed dividend income from mutual funds was properly exempt under section 10(35), ruling that exemptions under sections 10(23FB) and 10(35) operate independently in different fields, rejecting AO's view that claiming one exemption precludes another. en-us Fri, 01 Mar 2024 00:00:00 +0530 Tue, 27 May 2025 19:09:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462138 ITAT Mumbai dismissed Revenue's appeal regarding exemption claims under sections 10(23FB) and 10(35). The tribunal upheld CIT(A)'s decision allowing assessee's exemption for income from Venture Capital Undertakings under section 10(23FB), following binding precedent from previous assessment year. Additionally, tribunal confirmed dividend income from mutual funds was properly exempt under section 10(35), ruling that exemptions under sections 10(23FB) and 10(35) operate independently in different fields, rejecting AO's view that claiming one exemption precludes another. Case-Laws Income Tax Fri, 01 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462138