2019 (1) TMI 799

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....Atul Jasani for respondent   P.C. :   This Appeal is filed by the Revenue to challenge the judgment of the Income Tax Appellate Tribunal ('ITAT' for short), Mumbai, dated 23/5/2014. Following question has been presented for our consideration : "1. Whether on the facts and circumstances of the case and in law, the ITAT has erred in allowing the exemption under section 10(....

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.... Officer also granted such exemption. 3. Before the Commissioner of Income Tax (Appeals) the assessee claimed similar exemption with respect to yet another receipt which the Commissioner of Income Tax (Appeals) rejected inter alia on the grounds that the claim was not made in the return filed and that a Trust which receives the benefits under Section 11 to 13 of the Act cannot claim exemption u....

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....essee for the first time before the Appellate Authority. The Revenue does not dispute that necessary facts were already on record to examine such a claim. That being the position, the assessee's claim was based on pure interpretation of statute. The Tribunal, therefore, correctly rejected the Revenue's objection relying upon the decision of this Court in the case of Pruthvi Brokers & Share....