2024 (2) TMI 48

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.... ORDER PER RAVISH SOOD, JM: The present appeal filed by the assessee society is directed against the order passed by the Commissioner of Income-Tax (Appeals), National Faceless Appeal Center (NFAC), Delhi, dated 31.01.2023, which in turn arises from the order passed by the A.O under Sec.143(3) of the Income-tax Act, 1961 (in short 'the Act') dated 21.12.2019 for the assessment year 2017-18.....

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....is time barred by 5 days. The Ld. AR submitted that the delay involved in the present appeal had occasioned due to change of executive body of the society and holidays prevailing at the relevant point of time. The Ld. DR did not seriously object to the seeking of condonation of the delay involved in filing of the present appeal. Considering the reasons leading to the delay involved in filing of th....

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....oc basis restricted the assessee's claim for deduction to 10% of the amount of miscellaneous income of Rs.3,05,402/- and made addition/disallowance of the balance expenditure of Rs.1,34,136/- to avoid leakage of revenue. Accordingly, the A.O vide his order passed u/s.143(3) dated 21.12.2019 assessed income of the assessee society at Rs.2,25,100/-. 5. Aggrieved the assessee society carried the m....

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....cue since the facts are distinguishable and the assessee in that case had no other income except interest income being in liquidation. Considering the totality of facts, it is reasonable if the expenses are restricted to 20% as against 10% taken by the AO since the appellant failed to justify the quantum of expenditure. Addition is, therefore, confirmed to the extent of Rs.1,03,596/-. Relief of Rs....