TaxTMI 
TaxTMI 
2025 (3) TMI 1418
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....sed in this appeal: - "1. That under the facts and circumstances of the case, L.d. CIT (Appeals) has erred in sustaining the denial of exemption of Rs. 7743697/- made by CPC, Bangaluru vide intimation u/s 143(1) of the IT Act, 1961 dt 08.03.2023. 2. That under the facts and circumstances of the case, Ld. CIT (Appeals) has erred in not considering the assessee's reply dt. 23.03.2023 filed before the CPC Bangaluru in a right perspective that the income of the assessee's trust is also exempt u/s 10(23C) (iiiad) of the I.T Act, 1961. 3. That under the facts and circumstances of the case, Ld. CIT (Appeals) has also erred in observing that A.O., CPC had no power to entertain a fresh claim or change its stand. In....
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....ion under clause (i) of the first proviso to clause (23C) of section 10 of the I.T Act on Form 10A on 29.06.2024 and got registration vide Order for approval on Form No. 10AC dt. 08.07.2024 w.e.f. A.Y. 2022-23 to 2026-27. Thus, the appellant is entitled for exemption as claimed at Rs. 77,43,697/- in its return of income." 3. The relevant facts giving rise to this appeal are that the appellant assessee, a Society registered under the Society Registered Act, 1860, running an educational institution; namely, 'Niranjan Institute of Education Technology, filed its Income Tax Return (hereinafter, the 'ITR') of the relevant year on 20th October, 2022 declaring Nil income. During the course of processing of the said ITR under section 143(1) of t....
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....Act. 6.2.3 Further, from the information available on the ITBA Portal, it is seen that for the A.Y. 2021-23 also, the return of income along with Audit Report in Form 108 was filed by the appellant on 20/02/2022 and exemption u/s 11 of the Act was claimed. The claim made by the appellant for A.Y. 2021-22 has also been disallowed by the AO, CPC. Hence, it is clear that this is not the first year that the return of income along with Audit Report in Form 10B has been filed claiming exemption u/s. 11 of the Act. The contention of the appellant that the claim u/s. 11 of the Act was inadvertently made thus fails. The appellant did not file its option in Form 10AC for opting for exemption u/s 10(230) (iad) of the Act. Form 10AC is essenti....
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....nd of appeal is dismissed." 4. At the outset, the Ld. Counsel submitted that the assessee got approval under section 10(23C)(i) of the Act for the relevant year vide order dated 08.07.2024. Accordingly, he prayed that the entire income of the relevant year, being derived from educational institution, was exempted as the approval under section 10(23C)(i) rws 10(23C)(vi) of the Act granted vide order dated 08.07.2024 was with effect from AY 2022- 23 to 2026-27. Therefore, it was contended that the entire income of the relevant year having derived from the educational institution was fully exempted even after the said adjustment of Rs. 77,43,697/- as the tax could not be levied on the exempted income. 5. The Ld. Commissioner of Income Ta....