https://www.taxtmi.com/caselaws?id=467331 For the year under appeal the ITAT applied statutory interpretation of section 10(23C)(iiiad), its Explanation and Rule 2BC to hold that the annual receipts threshold must be applied to each educational institution separately rather than on aggregated receipts of the society; where each institution's receipts fell below the prescribed limit the exemption applied. The Tribunal relied on coordinate bench precedent and the assessee's later decision on identical facts, and treated the Finance Act, 2021 amendment as inapplicable to the assessment year under consideration, allowing the appeals accordingly. en-us Fri, 21 Feb 2025 00:00:00 +0530 Fri, 27 Mar 2026 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467331 For the year under appeal the ITAT applied statutory interpretation of section 10(23C)(iiiad), its Explanation and Rule 2BC to hold that the annual receipts threshold must be applied to each educational institution separately rather than on aggregated receipts of the society; where each institution's receipts fell below the prescribed limit the exemption applied. The Tribunal relied on coordinate bench precedent and the assessee's later decision on identical facts, and treated the Finance Act, 2021 amendment as inapplicable to the assessment year under consideration, allowing the appeals accordingly. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467331