| Question And Answer | |
|---|---|
| Subject: | Exemption under section 10(23C)(iiiad) |
| Category: | Income-Tax |
| Querist: | Abdul Yahiya |
| Answered by: | Research Team |
| Tags: | Exemption, Reassessment |
| Date: | January 29, 2024 |
whether exemption under section 10(23C)(iiiad) can claim against notice of section 148 for AY 2016-2017
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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