Income Tax Officer, Gonda. Vs. Krishi Utpadan Mandi Samiti, Balrampur.

Parties Involved

Facts Summary

The appeal was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) dated 19/07/2022, which allowed the exemption under section 10(26(AAB) of the Income Tax Act, 1961. The assessee had claimed the exemption in the appeal but had not claimed it in the original return. The Assessing Officer had accepted the assessee's claim in an order dated 22/05/2023, making the appeal infructuous. The Revenue filed a petition seeking condonation of delay in filing the appeal, which was granted. The Tribunal found that the appeal was infructuous as the Assessing Officer had already accepted the assessee's claim, and dismissed the appeal.…

Legal Issues

• 1. Whether the learned CIT(A) has erred on facts and in law in allowing exemption u/s 10(26(AAB) of the I.T. Act, 1961 without claiming exemption under the aforesaid section in ITR by assessee without giving opportunity and calling for remand report from the Assessing Officer u/s 250(4) of the IT Act read with Rule 46A(3) of the I.R. Rules, 1962.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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