2022 (3) TMI 128

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....e law. 2. For that the Ld. CIT(A) erred in holding the view that the mistake was not apparent from the records only by considering the information contained in the return when the claim of the assessee that the trust was approved u/ s 14A was correct, verifiable from the records itself at the time when processing u/ s 143(1) was completed and as such the mistake was apparent from records. 3. That the Ld CIT(A) was otherwise also not correct in holding the view that the mistake requested to be rectified was not apparent from the records. 4. For that the ld CIT(A) should have directed to allow the sum of Rs. 5,06,446/- while computing the taxable income. 5. For that the Ld CIT(A) erred in not allowing the c....

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.... According to the Ld. AR, since the assessee had applied for registration u/s. 12A of the Act and this year (AY 2016-17) was the first year of its formation and having duly applied for the registration u/s. 12A of the Act and it was granted by the Ld. CIT(E) though on 05.05.2016, the registration u/s 12A of the Act was granted to the Trust w.e.f. 16.11.2015 u/s. 12A of the Act. According to the Ld. AR even though this was the factual position, however, since the return of income was filed when the assessee was not in receipt of this order dated 05.05.2016 (albeit w.e.f. 16.11.2015,12A registration) obviously the assessee did not reflect about it in the return of income [registration u/s 12A of the Act]. In the aforesaid circumstances, the C....

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....PC processed the return of income it was not given any exemption/relief u/s. 11 of the Act and computed the total taxable income at Rs. 7,06,033/- in place of the assessee's returned income of Rs. 6,790/-. According to assessee since it was having registration u/s. 12A of the Act from 16.11.2015, so according to it, it should get the benefit of section 11 of the Act. According to the assessee, it has received total voluntary contribution to the tune of Rs. 9,22,670/- out of which corpus donation was to the tune of Rs. 1,93,000/- and that the assessee trust had applied Rs. 5,06,246/- towards charitable activities during the year under consideration and only because the assessee could not bring to the notice of the CPC in its return of income....

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....ed in the open court on 18th February, 2022. ============= Document 1 OFFICE OF THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) 10 Middledon Row, 6th floor, Kolkata-709 971. HAME & ADDRESS PAN ROTARY PRESIDENCY FOUNDATION Room No.215, Krishna' 224, AJC Bose Road, Kolkata-700 017 West Bengal. ACTRY00BR DATE OF APPLICATION15.12.2016. DATE OF ORDER 06.05.2016. ORDER U/S 12AA(1)(b)(0) OF THE INCOME TAX ACT, 1961 The aforesaid Trust established under the Trust Deed dated 16.11.2015 has filed an application for registration ule.12Alaj of income Tax Act, 1981 in Form No.10A on 15.12.2015. After considering the material placed on record, I the undersigned, hereby register the Trust with effect from 1....