TaxTMI 
TaxTMI 
2025 (5) TMI 2199
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.... has erred on facts& in law in upholding the order of AO in denying exemption u/s 11 for the reason that assessee has not furnished copy of certificate of registration u/s12AA of the Act ignoring that assessee has furnished sufficient documentary evidences to established that it is registered u/s 12AA of the Act and therefore income of assessee ought to have been computed by allowing exemption u/s 11 of the Act. 2. The Ld. Addl. CIT (A) has erred on facts & in law in disallowing the fees paid for delay in filing the TDS return of Rs. 1,58,000/- claimed as application of income and not allowing the claim of capital expenditure of Rs. 1,39,47,839/- in computing the total income. 3. The appellant craves to alter, amend and mo....
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....r section12AA of the Act stating that the same is missing and at present not available. The AO, therefore, considered the amount of Rs. 64,60,842/- claimed as corpus donation as voluntary donation and included it in the total receipt of the year and did not allow the claim of capital expenditure of Rs. 1,39,47,839/- as application of income. Accordingly, the AO assessed the total income at Rs. 7,69,088/- computed as under :- Gross receipt including rental income as per I&E A/c 1,15,66,880 Add:- Corpus donation 64,60,842 TDS penalty 1,58,000 66,18,842 Total receipt 1,81,85,722 Less:- Expenditure as per I&E A/c including depreciation 1,74,16,634 Total income 7,69,088 On appeal filed by the a....
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....sh registration u/s 12A(1)(ac)(i) of the Act, the precondition of which is that the trust or institution is registered u/s 12AA of the Act. In these circumstances, only because assessee could not place on record registration certificate issued u/s 12AA of the Act, the benefit of exemption u/s 11 cannot be denied unless the revenue place on record any evidence that registration granted u/s 12AA of the Act is not in force for AY 2017-18. Hence the AO be directed to compute the income u/s 11 of the Act by allowing capital expenditure of Rs.1,39,47,839/- as application of income and assess the income at Nil. It may also be noted that assessee has paid Rs.1,58,000/-, being fees u/s 234E for late filing of TDS return. It is a fee paid an....
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....urt in case of CIT v/s Bharat Aluminium Co. Ltd. 33-41 CIT (A) 7. Copy of reply submitted during the assessment proceedings 42 Both 8. Copy of registration certificate u/s 80G of the Act 43 Both 9. Copy of assessment order passed u/s 143(3) of the IT Act, 1961 in the case of assessee for AY 2011-12. 44-48 Both 10. Copy of fresh registration certificate u/s 12A(1)(ac)r.w.s. 12AB of the Act. 49-51 Both 4. On the other hand, the ld. D/R supported the orders of the revenue authorities. 5. We have heard the rival submissions, perused the material on record and gone through the orders of the lower authorities. We note that AO has denied exemption u/s 11 to the assessee for the reason tha....