TaxTMI 
TaxTMI 
2024 (7) TMI 650
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....d 06.11.2023. The impugned order was emanated from the order of the CPC, Bengaluru (in short, 'the A.O.'), passed undersection 143(1) of the Act, date of order 11/10/2021. 2. The assessee has taken the following grounds:- "1. On the facts and in the circumstances of the case and in law the learned Commissioner of Income Tax (Appeals) erred in confirming rejection / disallowance of claim of revenue expenditure incurred during the year amounting to Rs. 18412704/- u/s 11(1) of the Act. Provisions of the Act ought to have been properly construed and regard being had to facts of the case claim of revenue expenditure of Rs. 18412704/- u/s 11(1) of the Act should not have been rejected / disallowed. 2. On the facts and in the ....
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....iso to section 139(1) of the Act. Accordingly, the expenses claimed under section 11(1() as a charitable trust which was duly rejected during the processing of return u/s 143(1) of the Act amount to Rs. 1,84,12,704/- and also the disallowance made amount of Rs. 37,54,222/- being accumulated and set apart for application to object of the assessee trust. Without giving the reasonable opportunity and without issuance of any intimation, the entire adjustment was done under section 143(1) of the Act. Later on, the assessment was framed under section 143(3) by an order dated 20/09/2022 where the entire expenses u/s 11(1) and the adjustment of accumulated and set apart profit for application to the object of the trust was duly accepted and the ord....
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.... Return of Income for A.Y 2016-17,2017-18, and 2018-19 and Form No. 9A and Form No. 10. The CBDT has authorised the Commissioners of Income-tax (Exemptions) to condone the delay and is as under "Accordingly, in continuation of earlier Circulars issued in this regard, with the view to prevent hardship to the assessee and in exercise of powers conferred under section 119(2)(b) of the Act, the CBDT has decided that where the application for condonation of delay in filing Form 9A and Form 10 has been filed, and the Return of Income has been filed on or before 31st March of the respective assessment years i.e. Assessment Years 2016-17, 2017-18 and 2018-19, the Commissioners of Income-tax (Exemptions) are authorised u/s 1 19(2)(b) of the....
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....r section 119(2) of the Act and decide on merit. 3. The Pr. Chief Commissioner/Chief Commissioner of Income-tax, as the case may be, while entertaining such applications for condonation of delay in filing form No. 9A and Form No. 10, shall satisfy themselves that the applicant was prevented by reasonable cause from filing such Form within the stipulated time. In respect of Form No. 10, the Pr. Chief Commissioner/Chief Commissioner of Income-tax, as the case may be, shall also satisfy themselves that the amount accumulated or set apart has been invested or deposited in anyone or more of the forms or modes specified in sub-section (5) of section 11 of the Act. 4. Further, the Pr. Chief Commissioner/Chief Commissioner of Inco....
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....2." In addition to above reply furnished by the assessee, the assessee also demanded video conference for further submission, which was duly provided to the assessee on 09/09/2022. The reply of the assessee was duly considered and verified from the Form 10B for the F.Y. 2016-17 relevant to the A.Y. 2017-18 and found satisfactory. Accordingly, the assessment is completed u/s 143(3) r.w.s. 144B of the Income Tax Act, 1961 and income of the assessee is assessed at Rs. 28,61,220/-. Here, it is pertinent to mention that this is a limited scrutiny case. Hence, the demand u/s 143(1)(a) of the Income Tax Act, 1961 will exist till the disposal of appeal. Hence, the assessment order is passed u/s 143(3) r.w.s. 144B of the I....
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....uting the total income in the return; (v) disallowance of deduction claimed under [section 10AA or under any of the provisions of Chapter VI-A under the heading "C.-Deductions in respect of certain incomes", if] the return is furnished beyond the due date specified under sub-section (1) of section 139; or (vi) addition of income appearing in Form 26AS or Form 16A or Form 16 which has not been included in computing the total income in the return: Provided that no such adjustments shall be made unless an intimation is given to the assessee of such adjustments either in writing or in electronic mode: Provided further that the response received from the assessee, if any, shall be considered before making any ....