ITAT dismisses CIT(E) Appeal on Mahindra International School’s Tax Exemption due to Non-Compliance with Prescribed Authority Approval u/s 143(3)

The Income Tax Appellate Tribunal (ITAT) has dismissed an appeal filed by Mahindra International Schools seeking tax exemption under section 143(3). The appeal was denied due to non-compliance with the prescribed authority's approval requirements. The case highlights the importance of adhering to the procedural norms and obtaining necessary approvals for tax exemptions. ITAT’s decision reinforces the necessity for educational institutions to follow specific guidelines and obtain proper endorsements to qualify for tax exemptions. This ruling serves as a reminder to educational entities and other organizations about the strict adherence required to benefit from tax exemptions and to comply with statutory requirements to avoid rejection of their claims.