2023 (11) TMI 1307 - AT - Income Tax

Exemption u/s. 10(26AAB) - as per CIT(A) assessee is an agricultural produce market committee constituted under Orissa Agricultural Produce Market Act, 1956 for the purpose of regulating the marketing of agricultural produce - HELD THAT - A perusal of the order of the ld. CIT(A) clearly shows that the ld. CIT(A) has considered the facts that the assessee is an agricultural produce market committee constituted under Orissa Agricultural Produce Market Act, 1956 for the purpose of regulating the marketing of agricultural produce and in view of the same, the income of the assessee is eligible for exemption u/s. 10(26AAB) of the Act. This finding of the CIT(A) has not been dislodged by the revenue. Admittedly, the ld. CIT(A) has taken into consideration the fact that the assessee was facing technical glitches in responding to the notices issued by the AO along with supporting documents to the Jurisdictional AO on 24.11.2023 and this has been recognized in para 14 of the order of the ld. CIT(A). This finding also has not been dislodged by the revenue. As it is noticed that the ld. CIT(A) has considered all the facts and the said facts as such having been found by the ld. CIT(A), which have not been controverted by the revenue, we, therefore, do not find any interference in the said findings recorded by the ld. CIT(A). Appeal of the revenue is dismissed.

Summary

The appeal was filed by the revenue against the order of the ld. CIT(A) at the National Faceless Appeal Centre (NFAC), Delhi. The ld. CIT(A) had deleted the additions made by the AO, stating that the income of the assessee, an agricultural produce market committee, is exempt u/s. 10(26AAB) of the Act. The Tribunal upheld the decision of the ld. CIT(A) as the revenue did not dislodge the findings. The appeal of the revenue was dismissed.