2022 (8) TMI 583

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....raised the following grounds of appeal :- " In facts and circumstances of the case as well as in law the lower authorities have grossly erred and passed an impugned order and rejected the application which moved u/s 154 for rectification having purely of prejudice mind without going on the genuine facts of the case as the assessee appellant is entitled to get the benefit of expenditure claimed u/s 11 according to the provisions of the Act. So the order passed u/s 154 to rejecting the claim of exemption is absolutely illegal and beyond the facts. Therefore requesting with submit kindly allow the appeal to giving the relief in whole in favour of the assessee treating to the trust registered u/s 12AA. 2. The brief facts of the case....

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....n 11 and 12 of the Act for the assessment year under consideration. Now the assessee is in appeal before us. 3. Before us, the ld. A/R for the assessee submitted that the assessee trust is regularly filing its return of income from the very beginning in the status of a Trust and claiming expenditure/expenses under section 11 of the Act from the application of income. The detailed chart wherein the assessee had already claimed expenses incurred under section 11 is reproduced below :- Asstt. Year Application of income (Gross Receipts) Expenses incurred u/s 11 Surplus income/Loss 2012-13 517520/- 409825/- 107695/- 2013-14 6375445/- 4505783/- 1869662/- 2014-15 2118299/- 4798271/- - 2679972/-....

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.... filed revised return on 07.03.2017 under section 139(5) which was treated as defective by the CPC due to non-auditing of books of account. The CPC has processed the return vide Order dated 02.01.2018 and raised the demand of Rs. 5,79,340/- by assessing the income from house property at Rs. 28,83,279/- and denying the claim of exemption. The appellant also contended that in respect of rectification application filed under section 154 against intimation under section 143(1) is based on the actual genuine facts of the case. The trust has filed an application for registration u/s 12AA of Income Tax Act, 1961 and ld. Commissioner of Income Tax (Exemption), Jaipur granted registration certificate under section 12AA vide Unique Registration Numbe....