TaxTMI 
TaxTMI 
2021 (10) TMI 830
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....al is filed by the Revenue against the order dated 11/12/2017 passed by CIT(A)-40, Delhi for assessment year 2013-14. 2. The grounds of appeal are as under : "1. On the facts and in circumstances of the case and in law, Ld. CIT(A) has erred in ignoring that the assessee society has not taken the receipt on account of development fund in the Income and expenditure Account rather it was taken dir....
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....he assessee society was involved in violating the rules/guidelines framed in the matter. 4. On the facts and in the circumstances of the case and in law, Ld. CIT(A) has erred in allowing the appeal of the assessee ignoring the fact that in the case of charitable or religious institutions, the assessee is not eligible for any type of depreciation as the entire expenditure for the purchase of capi....
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....y for the same activity and the same objects. The return of income declaring income of Rs. NIL was filed on 27/9/2013. The Assessing Officer passed assessment order dated 10/3/2016 thereby making addition of Rs. 88,15,950/- towards development fund, Rs. 10,93,42,735/- as regards total receipts and thus assessed the income at Rs. 9,90,08,122/- less: (Expenditure allowed as per I & E account excludi....
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.... the assessment order for all the issues contested by the Revenue. 7. We have heard both the parties and perused the material available on record. As regards Ground No. 1 to 3, during the course of assessment, the development fund receipts amounting to Rs. 88,15,915/- were directly taken to the balance sheet as liability and the same were added back. As per the direction of the Directorate of Edu....