2025 (11) TMI 1578

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../establishment expense and upholding action of CPC/A.O in bringing to tax entire receipts of assessee. 3. The A.O had treated the gross receipts of Rs. 36,60,410/- as income without deducting the expenses of Rs. 39,72,977/- while processing the return of income u/s.143(1) of the Income Tax Act, 1961 (for short 'the Act'). 4. The brief facts in this case are that the assessee is a society registered under Society Registration Act running educational institutions. The assessee is also registered u/s.12A/12AA of the Income Tax Act, 1961 (for short 'the Act'). Admittedly, the assessee had not filed return of income for A.Y.2022-23 either u/s.139(1) or u/s.139(4) of the Act although it was having receipts of Rs. 36,60,410/- during the year....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Further, at the end of intimation, the CPC has given the reasons for denying exemption as under- "The Trust or Institution registered u/s.12A/12AA/12AB has not E-filed the Audit Report in Form 10B one month prior to the due date for furnishing return u/s.139(1). Hence the exemption claimed in Sr.no.2 [exemption claimed u/s.11(1)(d)] and Sr.no. 4i to 4viii of Part B-TI is not allowable in accordance with the provisions of Section- 12A(1)(b) of the Income tax Act." From the above, it is evident that the exemption has been disallowed for not filing the Form 10B and not for delay in filing the return as contended by the appellant. The case laws relied upon by the appellant in this regard are not applicable to the facts of th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....egistered under section 12A/12AA and has filed updated return in ITR -7 claiming exemption. In view of the above facts and circumstances of the case and the provisions of law, there is no infirmity in the action of the CPC denying exemption under section 11 of the Act and charging tax on the entire income of Rs. 36,60,410/-. Therefore, the same is confirmed. Accordingly, the Grounds No. 1 & 2 are dismissed. 6. Ground No. 3- No submission has been furnished by the appellant on this ground and therefore, the same is dismissed being not pressed upon. 7. In the result, the present appeal is dismissed." 5. As observed by the Ld.CIT(Appeals)/NFAC in the foregoing paras that as per Section 12A(1)(b) of the Ac....