2015 (10) TMI 1452

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....p;   "1. On the facts and in the circumstances of the case, the learned Commissioner of Income-tax (Appeals) has erred in law and facts in deleting the additions made by the Assessing Officer amounting to Rs. 20,98,900 as according to him the assessee was not entitled for claim of exemption of surplus income of Rs. 20,98,900 under section 10(23C)(iiiad) of the Income- tax Act, 1961, as the total receipts during the year exceeded Rs. 1 crore ; the learned Commissioner of Income-tax (Appeals) deleted the said addition without appreciating the facts of the case brought on record by the Assessing Officer.           2. That the appellant craves for the permission to add, delete or amend the....

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....ssment order dated December 19, 2011 the assessee filed the appeal before the learned Commissioner of Income-tax (Appeals), who vide impugned order dated July 20, 2012 deleted the addition in dispute by allowing the appeal filed by the assessee. 5. Aggrieved with the above order dated July 20, 2012 passed by the learned Commissioner of Income-tax (Appeals), Rohtak, the Revenue is in appeal before the Tribunal. 6. We have heard both parties, perused and considered the relevant records available with us, especially the orders of the Revenue authorities. We find that the learned Commissioner of Income-tax (Appeals) has observed that the assessee-society is running an educational institution and is registered under section 12A of the Act. The....

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....also the receipts of the educational institution are only Rs. 69,23,857 and the corpus donation was received by society. Therefore, the learned Commissioner of Income-tax (Appeals) has rightly held that the exemption claimed under section 10(23C)(iiiad) is allowable. The learned Commissioner of Income-tax (Appeals) has considered the issue and the submissions made by the authorised representative and rightly observed that the Assessing Officer himself held that the donations received by the society of Rs. 39,15,102 are for the corpus fund for the construction of building of the society. Donations for the corpus fund are exempt under section 11 of the Act. In the present case, though the society was registered under section 12A of the Act, e....