IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI Before Justice (Retd.) C V Bhadang, Hon’ble President &

Shri Arun Khodpia, Hon’ble Accountant Member ITA NO.5655/MUM/2025 (Assessment Year : 2022-23 )

DCIT (Exemptions)-1(1), Vs. Bombay Chamber of Commerce Mumbai and Industry

3^rd Floor, Machinnon Machenzie Building, 4 Shoorji Vallabh Marg Ballard Estate, Mumbai- 400 001 PAN : AABCB2270M (Appellant) (Respondent)

Appellant By : Shri Leyaqat Ali Aafaqui Respondent By : S/Shri Niraj Sheth, Adv. & A.K. Jawadwala, CA Date of Hearing : 22.01.2026 Date of Pronouncement: 06.04.2026 O R D E R Per Justice (Retd.) C V Bhadang, President:

By this appeal, Revenue is challenging the order dated 01.07.2025 passed by National Faceless Appeal Centre, Delhi (NFAC) (‘CIT(A)’ for short) which in turn arose out of the order dated 26.03.2024 passed by the Assessing Officer (‘AO’ for short) u/s. 143 r.w.s. 144B of the Income Tax Act, 1961 (‘Act’ for short). The AO had refused to grant exemption to the respondent assessee u/s.11 of the Act and consequently, made the impugned addition of Rs.8,32,57,440/-. The appeal relates to A.Y.2022-23.

2. The brief facts are that the respondent assessee is a comp