TaxTMI 
TaxTMI 
2017 (4) TMI 666
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....Appellate Tribunal has erred in law and on facts in allowing deduction under section 11 of the Income Tax Act to the assessee to the extent of Rs. 10,19,11,212/- ignoring the fact that there was no trust deed executed and there was no instrument evidencing creation of trust wholly for religious or charitable purposes ? (B). Whether on the facts and in the circumstances of the case, the Hon'ble tribunal was correct in treating the re-opening of assessment as invalid ?" 2.00. Facts leading to the present appeal in nutshell are as under :- 2.01. That the assessee, an educational trust filed return of income for A.Y. 2007-08 showing income as "NIL" and showing status of "AOP trust". The return was processed under section 143(1) of the ....
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.... under section 11(1)(a) of the Act to the extent of Rs. 90,52,126/- and added the same to the total income of the assessee. While disallowing exemption claimed under section 11(1)(a) of the Act A.O. observed that the appeal has been filed before the Hon'ble High Court against the decision of ITAT for the A.Ys. 2006-07 and 2009-10 and therefore, the issue has not reached upto a finality. 2.03. Feeling aggrieved and dissatisfied with the reassessment order passed by the A.O. disallowing exemption under section 11(1)(a) of the Act and adding Rs. 90,52,126/- to the total income of the assessee, the assessee preferred appeal before the learned CIT(A) and the learned CIT(A) allowed the said appeal and set aside the order of assessment passed b....
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....Mrs.Bhatt, learned counsel appearing on behalf of the revenue has further submitted that the learned tribunal has materially erred in not properly appreciating the scope and ambit of registration under section 12AA of the Act and exemption claimed under section 11(1)(a) of the Act. In support of her above submission, she has relied upon the decision of the Division Bench of this Court in the case of Gujarat State Board of School Textbooks Versus Assistant Commissioner of Income Tax, Gandhinagar Circle and another, rendered in Special Civil Application No. 15716 of 2010 reported in (2016) 76 Taxmann.com 312 (Gujarat). 3.02. Mrs.Bhatt, learned counsel appearing on behalf of the revenue has further submitted that as it was found that that t....
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....Therefore, while passing the assessment order the A.O. disallowed the claim of the assessee of exemption under section 11(1)(a) of the Act and added Rs. 90,52,126/- to the income of the assessee. It is required to be noted that though it was specifically pointed out by the assessee that for the A.Ys. 2006-07 and 2009-2010 in case of the very assessee, exemption under section 11(1)(a) of the Act has been allowed, still the A.O. has disallowed exemption claimed under section 11(1)(a) of the Act on the ground that the order passed by the ITAT for the A.Ys. 2006-07 and 2009-10 is at large before the High Court and therefore, the issue has not attained finality. However, there is no material on record that any appeal before the High Court is pen....