TaxTMI 
TaxTMI 
2023 (11) TMI 844
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.... Income-tax Act, 1961 (hereinafter also called 'the Act') Act in relation to the assessment year 2012-13. 2. Tersely put, the facts of the case are that the assessee is an association for Oral Maxillofacial surgeons of India, which was set up several years ago having registered office in Pune. The return for the year under consideration was not furnished. The AO, on getting information about the assessee having made FDR of Rs. 5.00 lakh with State Bank of India, issued notice u/s. 148 of the Act. In response, the assessee filed return declaring total income at Rs. 7,99,352/-, claiming that it was engaged in promotion of research in Oral and maxillofacial surgery. In the absence of any registration u/s 12A of the Act, no benefit of exempt....
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....the second proviso to section 12A(2), that was operative for the year under consideration, which provides that "where registration has been granted to the trust or institution u/s. 12AA or section 12AB, then the provisions of section 11 and 12 shall apply in respect of any income derived from property held under trust of any assessment year preceding the aforesaid assessment year, for which assessment proceedings are pending before the Assessing Officer as on the date of such registration. . . . . . .". It is apparent from the prescription of the proviso that notwithstanding the benefit of registration not having been expressly granted by the ld. CIT(E) in his order u/s. 12AA, such benefit gets automatically extended to all the assessment y....
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.... cause, to furnish within the period specified in sub-section (1) of section 153 a return of his income which he is required to furnish under section 139 in respect of any assessment year commencing on or after the 1st day of April, 1989, and until the expiry of the period aforesaid, no notice has been issued to him under clause (i) of sub-section (1) of section 142 or section 148 and the Assessing Officer or the Commissioner (Appeals) is satisfied that in respect of such assessment year such person has taxable income, then, such person shall, for the purposes of clause (c) of this sub-section, be deemed to have concealed the particulars of his income in respect of such assessment year, notwithstanding that such person furnishes a return of....
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....penalty u/s. 271(1)(c) except, where the assessee, not having filed return earlier, files it only pursuant to notice u/s. 148. In the cases falling in the exception, even the income declared in the return, sans any addition or disallowance, also gives a foundation for imposition of penalty. Reverting to the facts of the present case, it is seen that, in principle, the Explanation 3 is applicable which has expressly been invoked by the ld. CIT(A) as well, as per the mandate of which, the amount of income assessed is deemed as concealment for the purposes of section 271(1)(c) of the Act. As the assessee admittedly did not file any return earlier for the year under consideration, it is covered within the scope of the Explanation 3. 7. It is....
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....hows year-wise place of audit of accounts. For the A.Y. 2012-13 to 2013-14, the operations of the society were in Mangalore and the audit was conducted by Mr. K. Santha Kumar, Chartered Accountant, Thrissur. Thus, for the year under consideration and the next year, the operations and the records were kept in Mangalore. From the A.Y. 2014-15, there was a shift of operations and the records from Thrissur to Faridabad, which continued up to the A.Y. 2018-19. Name of the auditor who conducted the audit and the date of audit reports have also been given in this chart. Again, its operations came back to Pune with effect from the A.Y. 2019-20. It was during such earlier years, when the operations and records were outside Pune, that the concerned p....