2017 (2) TMI 1427

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.... B. Naveen Kumar, JCIT ORDER This appeal by the assessee is directed against the order passed by the Commissioner of Income Tax (Appeals)-XII, Chennai dated 19.12.2012 in ITA No.11/2011-12 and it pertains to assessment year 2008-09. 2. The assessee has raised four grounds in his appeal and they are reproduced herein below for reference: 2.1. The order passed by the Learned Commissioner of....

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.... The brief facts of the case are there that the assessee is a charitable institution, filed his return of income for the assessment year 2008-09 on 02.04.2009 admitting NIL income after claiming exemption u/s. 11 of the Act. The Ld. AO while processing the return u/s.143(1) of the Act on 21.01.2011 observed that there was a shortfall in applying 85% of the income for the objects of the trust and f....