Revision u/s 263 by CIT - disallowance of exemption claimed in ...

CIT's revision u/s 263 disallowed exemption, but no breach of Section 11(5) and 13(1)(d) conditions found.

January 20, 2022

Case Laws Income Tax AT

Revision u/s 263 by CIT - disallowance of exemption claimed in respect of accumulation of income u/s 11(2) - insofar as the impugned assessment year is concerned, there is no breach or violation of the conditions of section 11(5) r.w.s. 13(1)(d) of the Act. That being the case, the assessing officer could not have invoked the provisions of section 13(1)(d) r.w.s. 11(5) of the Act to deny assessee’s claim of exemption under section 11(2) of the Act in the impugned assessment year. - AT

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Revision u/s 263 by CIT - disallowance of exemption claimed in ...

CIT's revision u/s 263 disallowed exemption, but no breach of Section 11(5) and 13(1)(d) conditions found.

January 20, 2022

Case Laws Income Tax AT

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