https://www.taxtmi.com/caselaws?id=463886 ITAT KOLKATA - AT set aside the CIT(A) observations and remitted the matter to the AO with directions. The AO must first determine whether the assessee is a Sikkimese and whether the income arose in Sikkim; if both are satisfied, exemption under section 10(26)(AAA) must be considered/granted. The AO must separately determine taxable income from the petrol pump, accounting for cash deposits net of payments to oil suppliers (not treating all deposits as income). After establishing taxable income, the AO will decide applicability of the section 10(26)(AAA) exemption. en-us Fri, 13 Sep 2024 00:00:00 +0530 Sat, 20 Sep 2025 15:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463886 ITAT KOLKATA - AT set aside the CIT(A) observations and remitted the matter to the AO with directions. The AO must first determine whether the assessee is a Sikkimese and whether the income arose in Sikkim; if both are satisfied, exemption under section 10(26)(AAA) must be considered/granted. The AO must separately determine taxable income from the petrol pump, accounting for cash deposits net of payments to oil suppliers (not treating all deposits as income). After establishing taxable income, the AO will decide applicability of the section 10(26)(AAA) exemption. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463886