Question And Answer
Subject: Exemption under section 10(23C)(iiiad)
Querist: Abdul Yahiya
Answered by:
Tags: ,
Date: January 29, 2024
Query asked by Abdul Yahiya

whether exemption under section 10(23C)(iiiad) can claim against notice of section 148 for AY 2016-2017

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Answer given by

The question is not clear . The Courts have held that , the provision of section 148 is not benefit of the assessee. Refer , CIT v. Sun Engineering Works (P) Ltd ( 1992 ) 198 ITR 297 ( SC), K.Sudhakr S.Shanbhag v. ITO ( 2000) 241 ITR 865 ( Bom)( HC), CIT v. Caixa Economica De Goa (1994)) 210 ITR 719 ( Bom)( HC),
If the assessee is satisfying all the conditions of section 10(23C)(iiiad) , the assessee should make the claim . After satisfying the explanation the Revenue may drop the proceedings .

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