2020 (6) TMI 296

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....: This appeal is filed by the assessee against the order passed by learned CIT(A)-1, Bhubaneswar, dated 20.09.2019 for the assessment year 2014-2015, on the following grounds of appeal :- 1. Income tax has been calculated on total receipts without considering expenses and order passed by learned assessing officer is bad in law. 2. Brief facts of the case are that the assessee derive....

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.... running educational institute imparting ITI and Diploma engineering and earns income in the form of course fee and other fees. The CPC h as wrongly assessed the assessee only taking the total receipt of Rs. 1,72,83,668/- as income and determined the tax of Rs. 82,06,975/- without adjusting the expenditure which was incurred to earn that income which is not a prudent practice of tax law. To suppor....

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....n appeal CIT(A) observed that in the return though the trust is not registered u/s.12A of the Act, erroneously claim was made u/s.11 of the Act. It was further observed by the CIT(A) that the assessee did not satisfy the conditions for applicability of section 11 of the Act as it has no registration u/s.12AA of the Act, therefore, the CIT(A) did not give the benefit of provisions of Section 11 of ....

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....rcial principles, wherein, the total gross receipts cannot be treated as income of the assessee without allowing revenue expenditure incurred by the assessee during the relevant same period and thus, we are inclined to hold that the authorities below were not right in disallowing the claim of expenditure of the assessee. However, we may point out that the Assessing Officer has framed assessment u/....