https://www.taxtmi.com/caselaws?id=310835 The Tribunal allowed the appeals for statistical purposes, directing the Assessing Officer to re-examine the assessee's claims for the assessment year 2013-14. The delay in filing one appeal was condoned. Due to the lack of registration under Section 12AA, the Tribunal instructed that income be computed commercially, allowing deductions for expenditures incurred. It also ruled that corpus donations should be treated as income. The orders of the lower authorities were set aside, and the Assessing Officer was tasked with recalculating the net income and applying tax accordingly, considering Section 143(1) for prima facie adjustments. en-us Thu, 05 Sep 2019 00:00:00 +0530 Tue, 21 Nov 2023 08:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310835 The Tribunal allowed the appeals for statistical purposes, directing the Assessing Officer to re-examine the assessee's claims for the assessment year 2013-14. The delay in filing one appeal was condoned. Due to the lack of registration under Section 12AA, the Tribunal instructed that income be computed commercially, allowing deductions for expenditures incurred. It also ruled that corpus donations should be treated as income. The orders of the lower authorities were set aside, and the Assessing Officer was tasked with recalculating the net income and applying tax accordingly, considering Section 143(1) for prima facie adjustments. Case-Laws Income Tax Thu, 05 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310835