2026 (1) TMI 454

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....e Revenue : Sh. Ajay Kumar Arora, Sr. DR ORDER PER C.N. PRASAD, JM, This appeal filed by the assessee is preferred against the order of the Commissioner of Income Tax (Appeals)/NFAC [herein after referred as "CIT(A)"] dated 22.11.2024 for the A.Y. 2016-17 in withdrawing the exemption allowed under Section 10(26B) of the Act while passing the order u/s. 154 of the Act. 2. The learned Co....

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....order under Section 143(3) dated 02.03.2015 allowed exemption u/s.10(26B) of the Act. The assessee claimed similar exemption in its computation of incomes for the A.Y's 2013-14 onwards. Therefore, learned Counsel for the assessee stated that when the assessee is claiming exemption u/s.10(26B) and is being allowed by the AO from A.Y. 2012-13 such exemption cannot be withdraw by passing order u/s.15....

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.... Act. 5. At this stage on a querry from the Bench as to why this appeal should not be send back to learned CIT(A) to decide alongwith main appeal which was filed against the denial of exemption u/s.11 which will have bearing on the appeal before us, the learned Counsel for the assessee and learned DR has expressed no serious objection. 6. On hearing both the sides and perusing the orders of ....