2022 (11) TMI 661

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.... Per : Anikesh Banerjee , JM : The instant appeal was filed by the assessee against the order of the ld. Commissioner of Income Tax(Appeals), NFAC, Delhi, [in brevity the CIT(A)] bearing appeal no.DIN & Order No. ITBA/NFAC/S/250/2022-23/1042942472(1), date of order 04.05.2022, the order passed u/s 250(6) of the Income Tax Act 1961, [in brevity the Act] for A.Y. 2017-18.The impugned order was....

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....18. So, the assessee is eligible for claiming exemption u/s 10(23C) (iiiad). The assessee rectified the intimation u/s 143(1) and informed that the assessee is only eligible exemption as an educational trust. But the ld. AO had not considered the assessee's plea. The assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) upheld the order of the ld. AO. 3. Aggrieved assessee filed an app....

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....argued and relied on the orders of revenue authorities.No other contrary view was placed before the bench. 6. We heard the rival submission and relied on the documents available in the record. The ld. Counsel for the assessee relied on the order of the ITAT, Cochin Bench in the case of AL-Farook Educational Centre vs. ITO', (2009) 124 TTJ(Coch) 286. Mr. Sud respectfully relied on the para 11 of....

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....n by the assessee is covered by equally specific provision of law and in such circumstances, the assessee is not supposed to take shelter under section 11." 7. The claim of the assessee is very specific purpose. The criterion for claiming exemption u/s 10(23C) (iiiad) are that running the educational institution and the turnover should be below Rs. 1 crore. The assessee accumulated both the con....