TaxTMI 
TaxTMI 
2017 (4) TMI 609
X X X X Extracts X X X X
X X X X Extracts X X X X
....x Act, 1961 (Act). It has all along been assessed as an AOP. The AO processed the return of income filed by the assessee u/s 143(1) of the Income Tax Act, 1961 (Act) on 02.03.2013. The assessee had filed its return of income in Form ITR 5 and the status adopted was Status No.6 given in the form namely "any other AOP/BOP artificial juridical person". 3. The AO issued an intimation u/s 143(1) of the Act in which he adopted the status of the assessee from an AOP to a person taxable in terms of section 139(4A) of the Act holding that the applicable form of return was Form No.7 instead of Form No.5 in which the assessee had furnished the return of income. In the return of income filed the assessee had declared total income of Rs. 8,28,210/- on ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he Assessee is also a person who is covered by the provisions of Sec.139(4A), the rate of tax at which total income is assessable and consequent tax liability of the Assessee was determined at a much higher sum than what was claimed by the Assessee in the return of income. The AO processed the return of income filed by the assessee u/s 143(1) of the Income Tax Act, 1961 (Act) on 02.03.2013, making the aforesaid adjustment to the tax payable by the Assessee consequent to his action in treating the Assessee as a person covered by Sec.139(4A) of the Act. 4. The assessee was aggrieved by the intimation dated 02.03.2013 issued by the AO and he filed an appeal before CIT(A) contending that while processing the return u/s 143(1) of the Act the AO....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... provisions of section 139( 4A) exceeds the maximum amount which is not chargeable to income tax. 3. Return under section 139( 4C) is required to be filed by every scientific research association, news agency, association or institution referred to any section 10(238) fund or institution or university or other educational instituting or any hospital or other medical institution. 4. The return under section 139(4D) is required to be filed by every university, college or other institution which is required - to furnish return of income or Joss under any other provision of this section. Keeping in view of the aforesaid instruction for filing of ITR-7 in case of exemption claimed, the AO has rightly assessed the case which is covered i....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... INCOME TAX (APPEALS) ERRED IN LAW IN HOLDING THAT THE ASSESSING OFFICER CAN CHANGE THE STATUS OF THE APPELLANT WHILE PROCESSINF THE RETURN OF INCOME UNDER S. 143(1)(a) OF THE INCOME TAX ACT; 2. FOR THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE CIT{A) ERRED IN LAW IN HOLDING THAT THE APPELLANT CLAIMED EXEMPTION FROM LIABILITY TO INCOME TAX U/S 11 OR AT ALL WHEN ALL THAT THE APPELLANT ASKED FOR WAS THAT BEING AN ARTIFICIAL JURIDICAL PERSON SRI SRI ISWAR RADHARAMAN JEW, THE BENEFICIARY DEITY, SHOULD BE TAXED AS AN ASSOCIATION OF PERSONS; 3. FOR THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE CIT (A) ERRED IN LAW BY CLUBBING THE APPELLANT WITH THREE OTHER TRUSTS SETTLED BY THE SETTLOR THROUGH THE SAME INSTRUMENT....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y:- (i) any arithmetical error in the return; or (ii) an incorrect claim, if such incorrect claim is apparent from any information in the return; (b) the tax and interest, if any, shall be computed on the basis of the total income computed under clause (a); (c) the sum payable by; or the amount of refund due to, the assessee shall be determined after adjustment of the tax and interest, if any, computed under clause (d) by any tax deducted at source, any tax collected at source, any advance tax paid, any relief allowable under an agreement under section 90 or section 90A, or any relief allowable under section 91, any rebate allowable under Part A of Chapter VII, any tax paid on self-assessment and any amount paid otherwise by ....