https://www.taxtmi.com/caselaws?id=774176 The Tribunal set aside the intimation under section 143(1) of the Income Tax Act, which treated gross receipts as taxable income without allowing expenditure deductions. The assessee, operating educational institutions, declared gross receipts of Rs. 2,85,27,154/- and claimed expenditure of Rs. 3,18,38,743/-. The Tribunal held that disallowing expenditure without proper scrutiny was beyond jurisdiction under section 143(1) and violated the fundamental principle of computing income on net basis. While the assessee was not entitled to exemption under sections 11 and 12 due to lack of registration under section 12A, the matter was remitted to the Assessing Officer for fresh examination of expenditure claims with due opportunity to the assessee. en-us Fri, 13 Jun 2025 00:00:00 +0530 Thu, 03 Jul 2025 11:37:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774176 The Tribunal set aside the intimation under section 143(1) of the Income Tax Act, which treated gross receipts as taxable income without allowing expenditure deductions. The assessee, operating educational institutions, declared gross receipts of Rs. 2,85,27,154/- and claimed expenditure of Rs. 3,18,38,743/-. The Tribunal held that disallowing expenditure without proper scrutiny was beyond jurisdiction under section 143(1) and violated the fundamental principle of computing income on net basis. While the assessee was not entitled to exemption under sections 11 and 12 due to lack of registration under section 12A, the matter was remitted to the Assessing Officer for fresh examination of expenditure claims with due opportunity to the assessee. Case-Laws Income Tax Fri, 13 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774176