DCIT(E) CIRCLE-1(1) NEW DELHI, DELHI vs. INDIAN BROADCASTING FOUNDATION, DELHI
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Income Tax Appellate Tribunal, DELHI BENCH “F”: NEW DELHI
PER M. BALAGANESH, A. M.:
The appeal in ITA No. 5626/Del/2025 for AY 2017-18, arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘ld. CIT(A)’, in short] dated 19.06.2025 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 23.01.2020 by the Assessing Officer, NFAC, Delhi (hereinafter referred to as ‘ld. AO’).
The revenue has raised the following grounds of appeal before us:-
Whether on facts and circumstances of the case and in law, Ld. CIT(A) has erred in allowing the benefit of exemption u/s 11&12 of the Act by holding that the transactions of purchasing shares worth Rs. 15 Lakhs were within the
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