ORDER

PER AVDHESH KUMAR MISHRA, AM

The appeal filed by assessee for Assessment Year (‘AY’) 2014-15 is directed against the order dated 10.01.2025 of the Additional/Joint commissioner of Income Tax (A)-7, Kolkata [‘Addl./JCIT(A)’].

2. The core issue raised in this appeal is denial of exemption under section 10(23C)(via) of the Income Tax Act, 1961 (‘Act’) and chargeability of entire gross receipts as income instead of taxing the surplus as per Income & Expenditure Account.

3. The relevant facts giving rise to this appeal are that the assessee filed its Income Tax Return (‘ITR’) on 19.09.2015 declaring NIL income after claiming exemption under section 10(23C)(via) of the Act. The audit report uploaded on the Income Tax Portal/annexed with the ITR was in Form No.10BB of the Income Tax Rules. The Ld. Assessing Officer (CPC), while processing the said ITR under section 143(1) of the Act, denied the claim of exemption under section 10(23C)(via) of the Act on reasoning that the appellant assessee was not eligible for exemption under section 10(23C)(via) of the Act. Further, in absence of the audit report in Form No. 10B of the Income Tax Rules for claiming exemption under section 11 of the