Mere Technical Violation for which Assessee could not be Penalized by denying the Exemption: ITAT allows Exemption u/s 10(23B) [Read Order]

Technical Violation - Assessee - Penalized - ITAT - Exemption - Taxscan

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that mere technical violation for which assessee could not be penalized by denying exemption and allow exemption u/s 10(23B). The appellant, Barapur Gramodyog Vikas Samiti, is engaged in the business of production, sale, etc. of Khadi and Products of Village Industries and…

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