2026 (1) TMI 186

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....order of assessment passed u/s 143(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act") dated 16.11.2022 by the Assessing Officer, (hereinafter referred to as "ld. AO"). Identical issues are involved in both these appeals and hence they are taken up together and disposed of by this common order for the sake of convenience. 2. The facts of Assessment Year 2021-22 are taken up for adjudication and the decision rendered thereon shall apply mutatis mutandis for Assessment Year 2022-23 also in view of identical facts except with variance in figures. 3. The only effective issue to be decided in these appeals is as to whether the assessee (AOP) could be subjected to levy of tax at maximum marginal rate (MMR) and levy of surc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tation on the part of the Learned CITA had led to the dismissal of the appeal of the assessee. The assessee is a charitable trust not claiming any benefit of exemption under section 11 of the Act, wherein the entire public at large are the beneficiaries through the activities of the assessee. Similarly though it is treated as an AOP, it does not have any specific members. It was submitted that the appellate order is based on incorrect interpretation of the information given in the Return of Income. 6. We find that the issue in dispute is squarely covered by the decision of this Delhi Tribunal in assessee"s own case for Assessment Year 2023-24 in ITA No. 3034 / DEL / 2025 dated 28-10-2025. For the sake of convenience, the relevant portion....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on is applicable to income received by trustees on behalf of provident funds created exclusively for the benefit of employees 1. "A reference is invited to paragraph 15.1to 15.7 of the Explanatory notes on the provisions relating to direct taxes in the Finance Act, 1981 [circular No. 308 dated 29-06-1981] which explain the scope and ambit of section 167A, as inserted by the Finance Act, 1981. 2. A question has been raise whether the provisions of section 167A of the Income tax Act which provides for charging of tax at the maximum marginal rate on the total income of an association of persons where the individual shares of members in the income of such association are indeterminate or unknown would also apply to income rece....